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Automatic Number Plate Recognition (ANPR) Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
Automatic Number Plate Recognition (ANPR) Market SizeThe global Automatic Number Plate Recognition (ANPR) market was valued at US$ 1856.2 million in 2023 and is anticipated to reach US$ 2980.6 million by 2030, witnessing a CAGR of 7.0% during the forecast period 2024-2030.
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Major Trends in the Automatic Number Plate Recognition (ANPR) Market:
1. AI Integration: Increasing use of AI and machine learning for enhanced image recognition accuracy.
2. Cloud-based Solutions: Growing adoption of cloud-based ANPR systems for real-time data analysis.
3. Smart Cities: Integration of ANPR systems in smart city infrastructure for traffic management and law enforcement.
Challenges:
1. Privacy Concerns: Rising concerns over surveillance and data security.
2. High Costs: Initial setup costs for ANPR systems can be prohibitive for some regions.
By Type
• Software
• Hardware
By Application
• Surveillance
• Traffic Management
• Toll Management
• Parking Management
Key Companies:
3M, ARH, Elsag, NDI Recognition Systems
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