ANPR System Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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How Large Will the ANPR System Market Size By 2025?
In recent times, the Automatic Number Plate Recognition (ANPR) system market has seen considerable expansion. The market size is anticipated to increase from $2.76 billion in 2024 to $2.99 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.5%. The trajectory of growth during the preceding phase is credited to the demand for security and surveillance, solutions for managing traffic, counterterrorism activities, reductions in hardware prices, and government schemes and investments.

How Big Is the ANPR System Market Size Expected to Grow by 2029?
Expectations are high for the ANPR system market, as it's projected to experience substantial growth in the upcoming years. It's estimated that this market will reach a value of $4.53 billion by 2029, increasing at a compound annual growth rate (CAGR) of 11.0%. This predicted growth within the forecast period could stem from several factors, such as the advent of intelligent tolling systems, the development of privacy-compliant ANPR solutions, urban emphasis on parking solutions, and issues of security and border control. Future trends anticipated during the forecast period include the incorporation of this system into smart city initiatives, advancements in deep learning and AI, the use of ANPR in toll collection and parking management, cloud-based ANPR solutions, and vehicle access control systems.

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Which Key Market Drivers Powering ANPR System Market Expansion and Growth?
The surge in road accidents is predicted to fuel the expansion of the ANPR system market in the future. Road accidents encompass events or crashes on public roads involving vehicles, pedestrians, cyclists, or other road users. ANPR cameras have the ability to automatically manage access control, enhance safety, prevent car theft, and optimize traffic flow. They serve as traffic surveillance cameras, minimizing accidents and traffic jams by reading license plates and issuing toll tickets. For example, data released by Eurostats, the statistical office of the European Union based in Luxembourg, revealed that in April 2024, there were 20,653 fatalities from road traffic accidents in the EU, a 4% increase from the 19,917 deaths reported in 2021. Hence, the rising occurrences of road accidents are pushing the growth of the ANPR system market.

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Which Fast-Growing Trends Are Poised to Disrupt the ANPR System Market?
Leading corporations in the ANPR system market are implementing groundbreaking technologies such as shutter technology to maintain their market dominance. Shutter technology functions by controlling the amount of light that can enter the lens, thereby, properly exposing the image on film or digital sensor, and so on. For example, in May 2023, Hanwha Vision, a video surveillance company from South Korea, introduced a high-speed ANPR camera, the TNO-7180RLP. Designed to capture license plates on vehicles moving in two lanes at speeds of up to 200 km/h, the TNO-7180RLP is a significant innovation in the ANPR camera sector. A cloud-based solution is offered by the camera to enhance the accuracy and efficiency of license plate recognition. The camera is equipped with 3MP global shutter technology and is integrated with Hanwha's newly introduced road AI solution that relies on AI video analytics to identify the brand, model, type, and color of monitored vehicles.

What Are the Emerging Segments in the ANPR System Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the ANPR System Industry?
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.

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This release was published on openPR.