Press release
Automatic Number Plate Recognition (ANPR) Systems Market to Grow with a High CAGR and Forecast to 2030
Automatic Number Plate Recognition (ANPR) Systems Market
ANPR systems enable free-flowing traffic that results in low financial loss and faster mobility. Information collected from the ANPR cameras can be used for various applications, such as speed control, journey time management, tolling, and congestion charging. Due to such widespread adoption of these systems for traffic surveillance applications, the automatic number plate recognition (ANPR) system market size is expected to expand at a high rate.
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Rising Demand for ANPR Systems for Smart Parking
Automatic number plate systems provide high-speed traffic management at parking areas, the ability to automate access control systems with a setup of ticket-free system, providing new and more efficient law enforcement. ANPR cameras are mounted at a higher mounting location to assure a wider field view of the whole parking lot, so that the vehicle license plate number is captured using cameras on entering or exiting the premises.
ANPR cameras are integrated with vehicle parking management systems that contain the record of entrance and exit timing information of the authorized vehicle, along with parking location and owner's information. If any car in the parking is damaged by another car, the information about the vehicle and the liable person who has damaged the parked car in the parking lot can be found from the system records. For overcoming such challenges, their adoption is increasing for smart parking, boosting the growth of the automatic number plate recognition system market.
Increasing Demand for Mobile ANPR Aiding Market Growth
Mobile ANPR systems have the latest gen featuring sensors that scan up to 60 license plates per second, both, rear and font, under all the light conditions. These mobile ANPR systems are a smart solution to prevent road accidents, as they provide a tireless watchful eye on the road, since they are installed in specific vehicles used by intelligence services or emergency services to support protection and surveillance operations.
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Automatic Number Plate Recognition System Market - Competition Landscape
Innovation of new products and strategic partnerships are key strategies being followed by top companies in the automatic number plate recognition system market, to enhance their business revenue. Manufacturers in the ANPR system market space are focusing on innovation in products/services to increase their market share.
Some of the leading players in the ANPR system market are Siemens, Kapsch TrafficCom, Blue Star Limited, Sensys Gatso, Bosch Security Systems, Inc., Genetec Inc., PlateSmart Technologies, Vaxtor Technologies, AllGoVision Technologies Pvt. Ltd, and Amplicon Liveline, RoadPixel, besides a few others.
Analysts' Viewpoint
The automatic number plate recognition system market in North America is anticipated to be the most dominating regional market over the forecast period. The ANPR system market is projected to increase almost threefold over the next ten years, providing abundant opportunities for stakeholders across the world.
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