ANPR System Market Set to Reach $4.53 Billion by 2029 with 11% Yearly Growth

How Are the key drivers contributing to the expansion of the anpr system market?
The ANPR system market is projected to grow due to a rising number of road accidents. These incidents could involve vehicles, pedestrians, cyclists, or any other road users and happen on public roads. ANPR cameras are beneficial as they can automate the process of access control, increase security, prevent auto theft, and enhance traffic flow. They serve as traffic monitoring cameras, reducing accidents and traffic congestion by reading license plates and issuing toll tickets. For instance, Eurostats, the Luxembourg-based statistical office of the European Union, reported in April 2024 that there were 20,653 fatalities due to road traffic accidents in the EU in 2022, a 4% increase from the 19,917 deaths in 2021. As a result, the escalating number of road accidents propels the growth of the ANPR system market.

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What growth opportunities are expected to drive the anpr system market's CAGR through 2034?
The market for the ANPR system has seen considerable growth in the last few years. Its market size is predicted to increase from $2.76 billion in 2024 to $2.99 billion in 2025, witnessing a compound annual growth rate (CAGR) of 8.5%. Factors such as the necessity for security and surveillance, managing traffic, measures against terrorism, decreasing expenses for hardware, as well as governmental programs and funding have all contributed to the growth observed in the historic period.

Anticipated to experience rapid expansion in the upcoming years, the Automated Number Plate Recognition (ANPR) system market is projected to reach a value of $4.53 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 11.0%. The forecasted growth is primarily driven by the advent of smart tolling systems, ANPR solutions that respect privacy laws, emphasis on parking management in city locales, heightened security requirements, and tighter border control methods. Furthermore, the integration with smart city initiatives, advancements in artificial intelligence and deep learning, the use of ANPR in toll and parking management, the advent of cloud-based ANPR solutions, and vehicle access control systems are among the major trends to look out for in the forecast period.

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What are the emerging trends shaping the future of the anpr system market?
Leading entities in the ANPR system marketplace are sourcing progressive technologies such as shutter technology to hold onto their market standing. Shutter technology is a mechanism that manages the duration for which light is allowed into the lens, impacting the exposure of the image on film or a digital sensor among other things. For example, Hanwha Vision, a video surveillance corporation from South Korea, introduced a high-speed ANPR camera called TNO-7180RLP in May 2023. The TNO-7180RLP is designed to detect license plates on vehicles moving across two lanes at speeds up to 200km/h. This cloud-based solution enhances the accuracy and efficiency of license plate identification and marks a significant progression in the ANPR camera sector. The TNO-7180RLP is equipped with a 3MP global shutter technology and is fused with Hanwha's newly launched road AI solution. This AI-powered solution applies video analytics to identify the brand, model, class, and color of vehicles under observation.

Which growth-oriented segments of the anpr system market are leading the industry's development?
The ANPR system market covered in this report is segmented -

1) By Type: Fixed ANPR Systems, Mobile ANPR Systems, Portable ANPR Systems
2) By Component: ANPR Cameras, ANPR Software, Frame Grabbers, Triggers, Other Components
3) By Application: Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Access Control
4) By End User: Government, Commercial, Institutions

Subsegments:
1) By Fixed ANPR Systems: Parking Management, Traffic Monitoring
2) By Mobile ANPR Systems: Law Enforcement Applications, Roadside Monitoring
3) By Portable ANPR Systems: Temporary Event Monitoring, Flexible Surveillance Solutions

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What regions are leading the charge in the anpr system market?
Europe was the largest region in the ANPR system market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ANPR system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the anpr system market?
Major companies operating in the ANPR system market include Nedap N.V., Siemens AG, Panasonic Holdings Corporation, Leonardo S.p.A, Hangzhou Hikvision Digital Technology Co. Ltd., Vigilant Solutions LLC, Dahua Technology USA, Conduent Incorporated, Plate Recognizer, Axis communications AB, Jenoptik AG, Avigilon Corporation, Kapsch TrafficCom AG, Bosch Security Systems Inc., Perceptics LLC, Aimetis Corp., Genetec Inc., PIPS Technology Inc., Q-Free ASA, ACTi Corporation, Tagmaster AB, Pumatronix Equipamentos Eletronicos Ltda., Alnet Systems Inc., ELSAG North America LLC, ARTECO S.u.r.l., Digital Recognition Systems Ltd., Adaptive Recognition Inc., NDI Recognition Systems LLC

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What Is Covered In The ANPR System Global Market Report?

• Market Size Forecast: Examine the anpr system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the anpr system market for a structured understanding.
• Key Players Overview: Analyze major players in the anpr system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the anpr system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the anpr system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the anpr system market.
• Industry Challenges: Identify potential risks and obstacles affecting the anpr system market.
• Competitive Landscape: Review strategic developments in the anpr system market, including expansions, agreements, and new product launches.

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This release was published on openPR.