Categories: Industry

Automatic Number Plate Recognition (ANPR) Market Trends

The ANPR System Global Market Report 2023 by The Business Research Company, provides anpr system market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/anpr-system-global-market-report

According to The Business Research Company’s ANPR System Global Market Report 2023, the market size is expected to grow from the global ANPR system market is expected to grow from $2.31 billion in 2022 to $2.55 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The ANPR system market is expected to reach $3.68 billion in 2027 at a CAGR of 9.5%.

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.

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The anpr system market 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

Advanced technologies are a key trend gaining popularity in the ANPR system market. Companies operating in the ANPR system market are adopting innovative technological solutions to sustain their position in the market. For instance, in March 2020, Genetic Incorporated, a Canada-based software development company, launched the AutoVu SharpZ3 camera, a next-generation mobile license plate recognition system. It utilizes advanced imaging technology and algorithms to capture clear and accurate images of license plates, even in challenging lighting conditions and at high speeds. The AutoVu SharpZ3 can precisely record numerous plate designs in intricate urban settings because it has a third optical sensor. These include license plates that are flat, embossed, reflective, or non-reflective.

The anpr system market report table of contents includes: