The global automatic number plate recognition market was valued at US$ 3.1 Billion in 2021, and in 2022 to be valued at US$ 3.5 Billion. During the 2022-2032 period of assessment, demand is expected to rise at an 11.5% value CAGR, likely to reach US$ 10.4 Billion by the end of the said forecast period.
The report offers actionable and valuable market insights of Automatic Number Plate Recognition. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automatic Number Plate Recognition Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Automatic Number Plate Recognition, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automatic Number Plate Recognition Market.
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The global automatic number plate recognition system is fragmented with large no of players. Major players deploying new and advance technologies in market. Prominent manufacturers of automatic number plate recognition system are eyeing technological innovations in order to provide the most accurate and precise system to their customers. As the threat of automatic number plate recognition increased over the world, companies are forging collaborative agreements with government entities to enhance their presence across major geographies.
- In March 2020 a mobile automatic number plate recognition system was introduced by Genetec named as Auto Vu ShapeZ3 which offer innovative insight on vehicle awareness and analytics.
- Petard Group LLC have agreement with Telematics technology LLP In May 2020 for intellectual property rights, associated inventory of NAS Box (Nexus ANPR Smart Box)
Overall, the automatic number plate recognition landscape is poised to yield an absolute dollar opportunity worth US$ 10.4 Billion until 2032. Sales of number plate recognition integration services will continue to flourish, with a documented CAGR of 12.0% from 2015-2021. Moreover, large enterprises will continue to remain the primary beneficiaries of automatic number plate recognition services, likely to register a CAGR worth 11.5% from 2022 to 2032. US will remain at the forefront, generating an opportunity worth US$ 12.1 Billion during the forecast period.
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Key Segments Covered in the Automatic Number Plate Recognition Industry Report
Automatic Number Plate Recognition by Application
- Security and Surveillance
- Vehicle Parking Traffic Management
- Toll Enforcement
Automatic Number Plate Recognition Market by Component
- ANPR Cameras
- Frame Grabber
Automatic Number Plate Recognition Market by End User
- Homeland Security
- Traffic Department
- Entertainment and Recreation Facilities
- Dedicated Car perks
Automatic Number Plate Recognition Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
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Fact.MR, in its new report, offers an unbiased Market Analysis of Automatic Number Plate Recognition, Sales and Demand of Automatic Number Plate Recognition, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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