Automatic Number Plate Recognition (ANPR) Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global automatic number plate recognition (ANPR) market is anticipated to grow at a significant CAGR of 9.8% during the forecast period (2022-2028). ANPR systems allow for high-speed traffic management in parking zones, as well as access control system automation and the adoption of a ticket-free system, resulting in new and more effective law enforcement. Since ANPR cameras are positioned at a higher mounting location to offer a wider field view of the entire parking lot, the car license plate number is obtained using cameras while entering or exiting the premises.

ANPR cameras are linked to auto parking management systems, which maintain track of the authorized vehicle's entry and exit times, as well as the parking space and information about the owner. If any car in the parking lot is damaged by another car, the information about the vehicle and the responsible person can be found in the system records. Due to these concerns, their use for smart parking is growing, propelling the market for automatic number plate recognition systems.

Law enforcement authorities have been pushed to adopt safety measures and build strict management systems as a result of a rise in the number of road accidents caused by infractions of traffic regulations. Traffic departments all around the globe are installing ANPR systems to assure traffic safety and mobility. Free-flowing traffic is enabled by ANPR systems, resulting in lesser financial losses and more mobility. The information collected by the ANPR cameras can be used for a variety of purposes, including speed enforcement, trip planning, tolling, and congestion charges. Due to the extensive use of these systems for traffic monitoring applications, the market for automated number plate recognition systems is expected to grow fast.

Some major players in the market include Bosch Security Systems, LLC, Genetec Inc., JENOPTIK AG, Sensys Gatso Group AB, Siemens Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. JENOPTIK AG offers VECTOR ANPR cameras, this is fed with clear and high-resolution photos by deep learning software even in severe weather circumstances, at night, and for high-speed traffic. The cameras' integrated light sensors allow them to adjust to changing exposure circumstances and accurately monitor multiple lanes at the same time. The ANPR cameras are sturdy, compact, long-lasting, and dependable, and can be mounted on traffic lights, street lighting, and existing masts. They are ideal for both stationary and portable applications.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Component
•By Application
•By End-User
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Bosch Security Systems, LLC, Genetec Inc., JENOPTIK AG, Sensys Gatso Group AB, Siemens Ltd., among others.

A full report Automatic Number Plate Recognition (ANPR) Market of is available at:  https://orionmarketreports.com/automatic-number-plate-recognition-system-market/31134/

Global Automatic Number Plate Recognition Market Report by Segment
By Type
•Mobile
•Fixed
By Component
•ANPR Cameras
•ANPR Software
•Triggers
•Frame Grabbers
By Application
•Traffic Management
•Parking Management
•Law Enforcement
•Access Control
•Electronic Toll Collection
By End-User
•Government
•Commercial

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.