Skip to main content

Research predicts growth of ANPR market

In its latest ANPR and Detection Sensor research, US analyst IHS provides a review of the various trends, economic, legislative, and technological, that shape the ANPR industry and concludes that difficult economic times have caused ANPR suppliers to switch their focus, placing greater emphasis on applications that generate a return on investment (ROI). The report forecasts the global market for Automatic Number Plate Recognition (ANPR) to reach US$350.4 million by the end of 2012, growth of 6.9 percent fr
October 26, 2012 Read time: 2 mins
In its latest ANPR and Detection Sensor research, US analyst 1712 IHS Global Insight provides a review of the various trends, economic, legislative, and technological, that shape the ANPR industry and concludes that difficult economic times have caused ANPR suppliers to switch their focus, placing greater emphasis on applications that generate a return on investment (ROI).  The report forecasts the global market for Automatic Number Plate Recognition (ANPR) to reach US$350.4 million by the end of 2012, growth of 6.9 percent from the previous year.

The problems of vehicle traffic and crime have been the cause of much frustration for governments and their citizens the world over. In recent years, automated number plate recognition (ANPR) and detection sensor technologies have emerged as viable and effective tools for mitigating such concerns, and presented exciting opportunities for suppliers of these products to grow their topline businesses.
 
Thanks to a strong ROI, parking time management has outperformed many of the other ANPR applications of late. Michael Arluck, report author and analyst at IHS comments, “Parking time management can help car park owners to drive revenue growth by identifying and charging vehicles that have stayed beyond their allotted time limit. At the same time, retailers and shopping centre owners will often welcome, and even request, the installation of parking time management systems to help free up parking spaces for new shoppers and thus further drive retail sales.”
 
In the UK, public budget cuts over the past two-to-three years have caused a number of suppliers, that had previously focused on law enforcement, to diversify into parking. Even as the EMEA market as a whole declined in 2011, the parking segment increased by 4.1 per cent.
 
“The car park segment in Europe has evolved into a different business model than simply selling equipment to the end-user.” comments Arluck. “Typically, management companies will approach large retailers and agree to provide ANPR systems with on-going management of parking lots in exchange for a percentage of the fees collected from tickets. This commission-based model has been well received by retailers who might have been otherwise skeptical of the benefits of ANPR, or who are limited in funds to invest into non-core operations.”

For more information on companies in this article

Related Content

  • Smart transport systems investment will continue to grow despite public sector cuts
    May 30, 2012
    The ITS sector is now going through an evolution driven by the maturation of communications technologies and their increasing adoption in major cities worldwide. The widespread availability of high-speed networks, both fixed and wireless, along with the ability to embed intelligence in physical objects throughout the urban environment and the diffusion of mobile devices that can send and receive real-time vehicle or infrastructure information, is driving the adoption of smart transportation systems in citie
  • Asia Pacific expected to lead EV charging station market by 2022
    April 1, 2016
    According to Markets and Markets’ latest market research report, the electric vehicle (EV) charging station market is estimated to reach US$12.61 Billion by 2022, at a CAGR of 29.8 per cent between 2016 and 2022. Factors which are driving the electric vehicle charging stations market include government subsidies and incentives, increasing use of EVs, and the growing need to reduce carbon emissions. The US Environmental Protection Agency (EPA) categorises battery electric vehicles (BEVs) as zero-emissi
  • Fast-growing fleet management systems market show no sign of slowing
    July 18, 2016
    According to a new research report from M2M/IoT analyst firm Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in North America was 5.8 million in Q4-2015. Growing at a compound annual growth rate (CAGR) of 17.0 per cent, this number is expected to reach 12.7 million by 2020. In Latin America, the number of active fleet management systems is expected to increase from 2.3 million in Q4-2015, growing at a CAGR of 12.8 percent to reach 4.1 million in 2020. The
  • Ten per cent growth expected in global ITS market
    February 5, 2016
    According to the latest research by Research and Markets, the global intelligent transportation systems (ITS) market is poised to grow at CAGR of over 10 per cent during 2015-2020. The report, Global Intelligent Transportation Systems Market by System, by Application and Competition Forecast and Opportunities, 2010-2020, says that, with the market being too fragmented, a large number of players are engaged in offering ITS solutions across the globe.