The automatic number plate recognition (ANPR) system market is expected to be worth USD 3.57 Billion by 2023, growing at a CAGR of 9.74% between 2017 and 2023
The market within this study has been classified on the basis of types, components, and applications. The need to deploy camera technologies for security and surveillance, and traffic enforcement applications and infrastructure growth in emerging economies are some of the significant growth drivers for the ANPR system market.
The types of ANPR systems are fixed systems, mobile systems, and portable systems. The major components of these systems are cameras, software, frame grabbers, and triggers. ANPR has its applications including traffic management, law enforcement, electronic toll collection, parking management, and access control. The report delivers a description of each of these application areas.
The Fixed ANPR system is expected to hold the largest market share between 2017 and 2023. The market growth can be attributed to the increasing demand for these systems for monitoring traffic and collecting data in highways, bridges, tunnels, and public and private parking spaces. The mobile ANPR system is expected to grow at the highest CAGR between 2017 and 2023. These systems are widely preferred by various police and law enforcement agencies for ensuring proper security and surveillance.
ANPR cameras accounted for the largest market share among components in 2016. The increasing adoption of cameras for law enforcement and traffic management applications is a major driver for this market. The software market is expected to grow at the highest CAGR between 2017 and 2023. 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. These factors are driving the growth of the software market.
The traffic management application accounted for the largest market share in 2016. The increasing demand for ANPR systems in urban areas due to high traffic congestion is driving the growth of the ANPR system market for traffic management applications. The market for the electronic toll collection application is expected to grow at the highest rate between 2017 and 2023. The increasing adoption of vehicles and stringent government regulations by various countries for implementing electronic toll collection systems is driving the growth of the ANPR system market.
Europe held the largest share of the ANPR system market in 2016, and it is expected to grow at a moderate CAGR between 2017 and 2023. The market in APAC is estimated to grow at the highest rate during the forecast period. The demand for ANPR systems in APAC is expected to be driven by increasing public infrastructure and highways.
Kapsch Trafficcom AG (Austria) is the world's largest clustered organization that offers a diversified product portfolio. The company has developed innovative products catering to the ANPR system market. Kapsch TrafficCom AG comprises development, installation, and operation of ITS solutions including cameras for tolling, traffic management, and other mobility applications. The company offers many solutions such as terrestrial free-flow tolling, satellite free-flow tolling, and plaza tolling for road users.
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