The ANPR System Market Overview Report

 The global ANPR system market is projected to reach USD 4.8 billion by 2027 from USD 3.1 billion in 2022; it is expected to register a CAGR of 9.2% from 2022 to 2027.The major factors driving the growth of the ANPR system market include the increasing deployment of ANPR systems in security and surveillance and traffic management applications, infrastructure growth in emerging economies, increasing allocation of funds by various governments on ITS, and the growing use of video analytics technology for intelligent monitoring of vehicles. Additionally, the rapid surge in demand for smart parking solutions is a major driver for the growth of the ANPR system market.

• Download PDF Brochure @ 
 https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140920103

The integration of advanced technologies such as IoT, Deep Learning, and AI with the ANPR system is promoting the growth of ANPR systems across applications such as access control and road usage charging. Growing number of infrastructure development projects across the world such as the Smart Cities mission and roadways modernization projects are promoting the growth of the ANPR system market. Moreover, surging use of video analytics technology for intelligent monitoring of vehicles is enhancing the growth of the ANPR system market.

Based on type of ANPR system, mobile ANPR systems are expected to register the highest CAGR during the forecast period. Mobile ANPR systems are equipped with megapixel sensors, which enable them to capture images in any light condition. There is a rising global demand for mobile ANPR systems to be used for law enforcement applications. In several countries, such as the UK and the UAE, mobile ANPR systems are extensively used, where they are mounted on police vehicles and aid in identifying and categorizing vehicles by capturing images and processing them on a real-time basis. They are used to detect vehicles with tax or insurance violations, high-emission vehicles, stolen or unregistered vehicles, etc. Moreover, mobile ANPR systems are effectively used in other applications such as traffic monitoring and access control.

Based on component of ANPR systems, ANPR cameras held the largest share of the ANPR system market in 2021. Rising incidents of vehicle thefts and increasing criminal activities have led to the growing demand for real-time identification and tracking systems in the transportation sector. This is driving the growth of the ANPR system market. ANPR cameras are the prime components of ANPR systems and have the power to keep a strict watch on all the vehicles passing around. Technological advancements have resulted in all-in-one solution camera units, which can capture high-resolution images under any light conditions and process them simultaneously to provide insights on a real-time basis. Additionally, the integration of RFID and the provision of high-resolution sensors is promoting the growth of the ANPR camera market. Furthermore, the latest camera units are weather- and vandal-proof, resulting in increased demand.

Based on application of ANPR systems, traffic management applications held the largest share of the ANPR system market in 2021. Governments across the world are taking measures to modernize infrastructure, which has significantly increased road connectivity. In addition, the increasing potential of the automotive industry and the growing urbanization have resulted in a massive surge in the number of vehicles across the world, which, in turn, has led to severe traffic congestion. To effectively manage heavy traffic and to implement accurate monitoring of vehicles, there is a growing demand for ANPR systems. ANPR systems are used for several traffic management purposes such as red-light enforcement, speed detection & enforcement, and security & surveillance operations, etc.

In terms of regional growth, the ANPR system market in Europe held the largest share in 2021. In Europe, ANPR systems are widely used for law enforcement applications. The increasing government initiatives pertaining to the adoption of ITS and the growing population in this region are driving the need for an efficient transportation system, which, in turn, is fueling the growth of the ANPR system market. According to the National Policing Improvement Agency (NPIA), the ANPR system is a part of the Police National Computer (PNC) network. The PNC provides a national intelligence database, which in addition to ANPR-generated data, includes search engine functionalities to identify known suspects, provide details of vehicles, and map criminal incidents and patterns. These factors are boosting the demand for ANPR systems in Europe.


About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441