ANPR System Market 2024 | Size, Top Trends, Growth, Share, Key Drivers | Nedap N.V., Siemens AG, Panasonic Holdings Corporation, Leonardo S.p.A, Hangzhou Hikvision Digital Technology Co. Ltd.

Overview and Scope
ANPR stands for automatic number plate recognition, also known as license plate recognition (LPR) or automatic license plate recognition (ALPR). ANPR is a technology that uses optical character recognition (OCR) and image processing techniques to automatically read and analyze vehicle license plates. ANPR systems typically consist of specialized cameras, lighting systems, and image processing software. The cameras capture images of vehicles and their license plates, while the software processes these images to extract the alphanumeric characters on the plates.

Sizing and Forecast
The anpr system market size has grown rapidly in recent years. It will grow from $2.55 billion in 2023 to $2.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to security and surveillance needs, traffic management solutions, counterterrorism measures, reduced hardware costs, government initiatives and funding.

The anpr system market size is expected to see strong growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to emergence of smart tolling systems, privacy-compliant anpr solutions, focus on parking solutions in urban areas, security concerns and border control. Major trends in the forecast period include integration with smart cities initiatives, advancements in deep learning and ai, anpr in toll collection and parking management, cloud-based anpr solutions, vehicle access control systems.

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Segmentation & Regional Insights
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

Europe was the largest region in the ANPR system market in 2023. 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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Major Driver Impacting Market Growth
The increasing incidents of road accidents are expected to propel the growth of the ANPR system market going forward. Road accidents refer to incidents or collisions that occur on public roads involving vehicles, pedestrians, cyclists, or any other road users. ANPR cameras can automate access control procedures, boost security, stop auto theft, and improve traffic flow. It fulfills the function of a traffic monitoring camera, reducing accidents and traffic congestion by reading license plates and issuing toll tickets. For instance, in May 2023, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, a total of 42,939 people lost their lives in car accidents in the US in 2021. These fatalities happened in 39,508 collisions involving 61,332 vehicles. Therefore, the increasing incidents of road accidents are driving the growth of the ANPR system market.

Key Industry Players
Major companies operating in the anpr system market report are 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.

The anpr system market report table of contents includes:

1. Executive Summary

2. ANPR System Market Characteristics

3. ANPR System Market Trends And Strategies

4. ANPR System Market – Macro Economic Scenario

5. Global ANPR System Market Size and Growth

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32. Global ANPR System Market Competitive Benchmarking

33. Global ANPR System Market Competitive Dashboard

34. Key Mergers And Acquisitions In The ANPR System Market

35. ANPR System Market Future Outlook and Potential Analysis

36. Appendix