Automatic Number Plate Recognition Market Poised for 11.4% CAGR Growth

With a predicted value of US$ 4.34 billion in 2024 and a predicted compound annual growth rate (CAGR) of 11.4%, the worldwide market for automatic number plate recognition is estimated to reach US$ 12.78 billion by 2034.

High-performance variants of automatic number plate recognition (ANPR) cameras are being developed by manufacturers. These ANPR devices are widely used by the public sector and blue chip companies to monitor both permitted and illegitimate visits. Vehicle numbers that are automatically logged into a business's database are highly preferred by owners of that business. Businesses are inventing ANPR cameras with quick shutter speeds and variable intensity infrared (IR) bulbs to enable infinite car plate registration.

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It is imperative that the automated number plate recognition system be updated on a regular basis to provide optimal user experience. Service providers may improve their returns on investment and save expenses associated with operations by implementing cutting-edge innovations. By eliminating the need for human plate registration, advanced ANPR systems are projected to increase demand for the technology in the near future.

During the forecast period, the market is expected to profit from the increasing demand for ANPR in automated toll collection centers and traffic law enforcement. The need for ANPR sensors in the automobile sector is rising as a result of drivers being more conscious of speed restrictions on highways. Growing government support for intelligent transport systems is contributing significantly to the expansion of the automated number plate recognition sector.

Key Companies Profiled

Bosch Security Systems
Digital Recognition Systems
Appalachian Regional Healthcare
Genetec
NDI Recognition Systems
LLC Kapsch TrafficCom AG
Q-Free ASA
Vigilant Solutions Inc.
Siemens AG
Tattile Srl
Q-Free ASA
Kapsch TrafficCom AG
Jenoptik Traffic Solutions.

ANPR Systems Helping with Crime Investigation and Tracking

Automotive license plates can be scanned by an automated number plate recognition system. Terrorist organized crime organizations and roving criminals are monitored by this method. Automatic number plate recognition systems are being used by law enforcement to gather evidence and lead leads for criminal investigations. Automatic number plate recognition is used by organizations including the police department, traffic control centers, toll agencies on highways that require payment for usage, and parking management services.

One important factor in finding the stolen cars is this method. To guarantee clear surveillance, automatic number plate recognition cameras have been put all throughout the city. Mobile-based automated number plate recognition systems are being used by end users to improve traffic control, security, and surveillance.

E-challans are becoming more and more common in developing nations like India. The producers of automatic number plate recognition systems in India are providing surveillance goods at toll gates so that it is simpler to penalize the driver who does not comply.

Variations in Number Plate Designs and Data Security Issues
The inconsistent designs of license plates provide a major problem to the global community developing automatic number plate recognition systems. Building an algorithm that could read any typeface without any inconsistencies is getting harder as number plates change globally in terms of size and font.

Sometimes the software used to recognize license plates automatically misreads the registration numbers, which causes issues for security and surveillance operations. Automated number plate recognition systems are being affected by a variety of factors, including variations in lighting, shadows cast by moving vehicles, irregularities in the letters on license plates, font styles, and backdrop colors.

It is anticipated that errors leading to false-positive findings would impede market expansion. Additionally, auto thieves have circumvented automated number plate recognition systems by employing methods of automobile cloning. Throughout the projected era, worries regarding data privacy are also expected to play a role in the market's sluggish expansion.

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Competitive Landscape

High-performance automatic number plate recognition cameras are being developed by major companies in the industry. Blue-chip businesses and the public sector are using these ANPR devices extensively to keep an eye on both permitted and illegitimate visitors. Business owners strongly favor the automated logging of car numbers into the system's database. In order to enable endless car plate registration, businesses are inventing ANPR cameras with quick shutters and variable intensity infrared (IR) bulbs.

•To improve road safety, the Delhi government installed cameras equipped with artificial intelligence (AI) in January 2024 to identify infractions. The goal of these cameras is to enhance traffic management by detecting 19 infractions, including driving while using a cell phone and having an expired PUCC.

•The automated number plate recognition (ANPR) system was installed at Mangalore International Airport (MIA) in July 2023, allowing cars to enter and depart the facility with ease. According to a statement from MIA on Saturday, the ANPR system makes use of e-payment technologies such as FASTag, which handles the payments for the end user.

Segmentation of ANPR Market Research

By Component :
Hardware
ANPR Cameras
Frame Grabbers
Other
Software
By Application :
Security & Surveillance
Vehicle Parking
Traffic Management
Toll Enforcement
Others
By End User :
Government
Homeland Security
Traffic Departments
Defense
Others
Commercial
Entertainment & Recreation Facilities
Dedicated Car perks
Others
By Region :
North America
Western Europe
Eastern Europe
Latin America
East Asia
South Asia & Pacific
Middle East & Africa

In conclusion, the ANPR market is poised for significant growth, driven by the increasing need for enhanced security and efficient traffic management solutions. As technology continues to advance and smart city projects proliferate, the market for ANPR systems is expected to thrive. Companies operating in this space must focus on innovation, strategic partnerships, and addressing evolving customer needs to capitalize on the burgeoning opportunities and maintain a competitive edge in this dynamic market.

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This release was published on openPR.