Automatic Number Plate Recognition System Market Predicted to rise at a CAGR of 9.5% by the end of 2030

Law enforcement authorities have been forced to take safety measures and establish stringent management systems as a result of an increase in traffic accidents caused by infractions of traffic laws. To maintain traffic flow and safety, traffic departments around the world are deploying automatic number plate recognition (ANPR) systems.

ANPR systems facilitate open traffic, which leads to little financial loss and quicker mobility. Applications for the data gathered by the ANPR cameras include tolling, congestion pricing, speed control, and trip time management. The automatic number plate recognition (ANPR) system market size is predicted to grow rapidly as a result of the wide usage of these systems for traffic surveillance applications.

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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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This release was published on openPR.