Automatic Number Plate Recognition (ANPR) Market Forecast to2030

Posted by Katheine Silway on April 12th, 2021

Automatic Number Plate Recognition (ANPR) Market: Introduction

The global automatic number plate recognition (ANPR) market is projected to reach a value of US$ 5 Bn by 2030. The automatic number plate recognition (ANPR) market is projected to expand at a CAGR of ~9% from 2020 to 2030. The expansion of the automatic number plate recognition (ANPR) market can be attributed to increasing adoption of ANPR systems for traffic enforcement and management, and rising demand for superior security in the public sector. Europe is anticipated to lead the global automatic number plate recognition (ANPR) market in terms of revenue, followed by North America during the forecast period.  

Major Key Players of the Automatic Number Plate Recognition (ANPR) Market are:
ARH Inc., Beltech BV, Bosch Security System, COBAN Technologies, Inc., Digital Recognition Systems Ltd., Euro Car Parks Limited, and others.

Increasing Adoption of Automatic Number Plate Recognition in Parking Management and Tolling Applications: Opportunity for Market

The automatic number plate recognition (ANPR) market has experienced double-digit growth in the past few years, owing to heavy penetration of ANPR systems in security, surveillance, and traffic enforcement applications. The application of ANPR systems in both government and commercial sectors for vehicle parking has increased in recent years, and this segment is expected to offer potential opportunities in the near future. The expansion of the vehicle parking segment is primarily witnessed in North America, where ANPR is widely used in parking management applications such as parking toll collection and vehicle security.

The adoption of the ANPR technology for vehicle parking management applications is also increasing due to extensive adoption of the technology in commercial spaces across Europe, Asia Pacific, and the Middle East.