Automatic Number Plate Recognition Market is likely to be valued at US$ 10.4 Billion By 2032

The global automatic number plate recognition market was valued at US$ 3.1 billion in 2021 and increased to US$ 3.5 billion in 2022. Over the assessment period of 2022-2032, the demand is projected to grow at a robust CAGR of 11.5%, reaching an estimated US$ 10.4 billion by the end of the forecast period.

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The Automatic Number Plate Recognition (ANPR) market has seen significant growth in recent years, driven by advancements in technology, the increasing need for security and surveillance, and the integration of artificial intelligence (AI) and machine learning (ML). This report explores the various facets of the ANPR market, including its current status, technological developments, key applications, market dynamics, and future prospects.

ANPR technology, also known as license plate recognition (LPR), involves the use of optical character recognition (OCR) on images to read vehicle registration plates. This technology is extensively used for a variety of applications such as traffic management, law enforcement, toll collection, and access control.

The automatic number plate recognition system is specifically designed to read automotive license plates, enabling the tracking of criminal and terrorist organized crime groups. Law enforcement agencies utilize automatic number plate recognition services to gather evidence and lines of inquiry for crime investigations.

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Additionally, agencies such as the police force, traffic management facilities, toll agencies on pay-per-use roads, and parking management services rely on automatic number plate recognition. The system plays a significant role in locating stolen vehicles, with automatic number plate recognition cameras installed throughout cities for clear monitoring.

End users are increasingly adopting mobile-based automatic number plate recognition systems to enhance security, surveillance, and traffic regulation measures.

Top Key Players
Bosch Security Systems,
Digital Recognition Systems,
Appalachian Regional Healthcare,
Genetec,
NDI Recognition Systems
LLC Kapsch TrafficCom AG
Q-Free ASA

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Competitive Landscape
The global automatic number plate recognition system is fragmented with large no of players. Major players deploying new and advance technologies in market. Prominent manufacturers of automatic number plate recognition system are eyeing technological innovations in order to provide the most accurate and precise system to their customers. As the threat of automatic number plate recognition increased over the world, companies are forging collaborative agreements with government entities to enhance their presence across major geographies.

In March 2020 a mobile automatic number plate recognition system was introduced by Genetec named as Auto Vu ShapeZ3 which offer innovative insight on vehicle awareness and analytics.
Petard Group LLC have agreement with Telematics technology LLP In May 2020 for intellectual property rights, associated inventory of NAS Box (Nexus ANPR Smart Box)

Market Segmentations:
By Application
Security and Surveillance
Vehicle Parking Traffic Management
Toll Enforcement
Others

By Component
Hardware
ANPR Cameras
Frame Grabber
Other
Software

By End User
Government
Homeland Security
Traffic Department
Defense
Others
Commercial
Entertainment and Recreation Facilities
Dedicated Car perks
Others

By Region
North America
Europe
Asia Pacific
Middle East & Africa
South America

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This release was published on openPR.