Automatic License Plate Recognition Industry Growth Outlook: 11.7% CAGR and $13.95 Billion by 2029

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What Is the Long-Term Growth Forecast for the Automatic License Plate Recognition Market Size 2025?
The market size for automatic license plate recognition has seen a significant increase recently. The market, which was valued at $8 billion in 2024, is estimated to reach $8.97 billion in 2025, with a compound annual growth rate (CAGR) of 12.1%. The remarkable growth over the historical period is due to its integration with applications like toll collection, parking management, traffic administration, vehicle theft protection, addressing security issues, and law enforcement requirements.

What CAGR is Forecasted for the Automatic License Plate Recognition Market Through 2029?
The market for automatic license plate recognition is projected to experience significant expansion in the coming years, ballooning to $13.95 billion by 2029 with an compound annual growth rate (CAGR) of 11.7%. This rapid growth during the prediction period can be tied to factors such as increased infrastructure investments, regulatory mandates for vehicle identification, attempts to manage traffic congestion, the rise of 5G networks, and heightened demand for vehicle tracking and recovery. Notable trends in the prediction period comprise the broadening in commercial applications, partnerships with the automotive industry, a focus on AI and machine learning, the adoption of cloud-based technologies, and integration with IoT and smart city solutions.

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What Are the Critical Factors Driving Automatic License Plate Recognition Market Development?
The anticipated surge in demand for traffic control efforts is predicted to catapult the progress of the automatic license plate recognition market. Traffic management consists of organizing, supervising, and acquiring transport services necessary to facilitate the movement of goods and vehicles. This growing demand is driven by measures to tackle traffic jams, boost movement, and advocate for safer transport systems. Automatic license plate recognition systems are pivotal in traffic monitoring and regulation, as they independently capture and identify plate numbers. Pairing advanced traffic management approaches with automatic license plate recognition technology exhibits immense potential for boosting road safety and reducing road fatality numbers. For example, according to the Americas Traffic Safety Crisis Report by National Transportation Research (TRIP), a non-profit organization based in the US, the number of road deaths in the United States soared by 19%, from 36,096 in 2020 to 42,795 in 2022. In addition, the rate of fatalities per 100 million vehicle miles traveled escalated by 22%, from 1.11 in 2021 to 1.35 in 2022 in the US. Thus, the increasing focus on traffic control is propelling the expansion of the automatic license plate recognition market.

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How Does the Automatic License Plate Recognition Market Break Down Across Major Segments?
The automatic license plate recognition market covered in this report is segmented -

1) By Product: Mobile, Fixed, Portable
2) By Application: Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Other Applications
3) By End-User: Government, Commercial

Subsegments:
1) By Mobile: On-Vehicle ALPR Systems, Mobile Enforcement Units
2) By Fixed: Fixed Camera Systems, Fixed Roadside ALPR Units
3) By Portable: Handheld ALPR Devices, Portable Camera Units

What Are the Major Trends Transforming the Automatic License Plate Recognition Industry?
Leading firms in the automatic license plate recognition (ALPR) market are focusing their efforts on producing innovative products like mobile apps with plate recognition features to bolster operational efficiency and civic security. Such mobile apps help law enforcement and security officials to rapidly identify vehicles and access vital data, thereby improving public safety and response intervals. For instance, Flock Safety Inc., a prominent American tech firm, introduced the Flock Safety Mobile App in October 2023. This app specifically aims to improve public safety and the efficiency of law enforcement via cutting-edge technology. It incorporates real-time alerts for license plate recognition and audio detection, empowering officers to swiftly react to emerging threats. It offers instant access to crucial information like vehicle specifics and crime-related audio snippets, which aids in the swift identification of perpetrators and increases situational awareness.

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Which Players Are Driving Innovation in the Automatic License Plate Recognition Market?
Major companies operating in the automatic license plate recognition market are Siemens AG, Neology Inc., Motorola Solutions, Axis Communications, Verint Systems Inc., ParkingEye Limited, Vivotek, Genetec Technology, Kapsch TrafficCom, Bosch Security Systems, Euro Car Parks Limited (UK), GeoVision Inc., Senstar Technologies, TagMaster AB, Tattile S.r.l., NDI Recognition Systems, Quercus Technologies, Petards Group Plc, Shenzhen AnShiBao, Digital Recognition Systems Ltd., PlateSmart Technologies, Sighthound, Rekor Rank One Computing, NEXCOM, Flock Safety

Which Regions Are Driving Global Automatic License Plate Recognition Market Expansion?
North America was the largest region in the automatic license plate recognition market in 2024. The regions covered in the automatic license plate recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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This release was published on openPR.