According to a new market report published by Transparency Market Research “Automatic Number Plate Recognition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” the automatic number plate recognition market globally is forecast to reach USD 1,023.2 million by 2020.
According to a new market report published by Transparency Market Research “Automatic Number Plate Recognition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” the automatic number plate recognition market globally is forecast to reach USD 1,023.2 million by 2020. The key factors driving the growth of this market include increased adoption in traffic enforcement and surveillance applications and the increasing trend of ANPR integration with other systems such as CCTV cameras. Factors such as non-uniformity in the design of number plates are restraining the market growth. In the coming years, the demand for ANPR from vehicle parking management application is expected to increase, offering potential market growth opportunities.
The global ANPR market, by end-users, is segmented into government and commercial end-users. Among these end-use segments, government sector dominated the global ANPR market in 2013 with the share of around 77%. The government sector for ANPR is further classified into homeland security, traffic department and defense while the commercial end-use sector comprises entertainment and recreation and dedicated car parks. Among the regional markets, Europe represented the largest geographical market for automatic number plate recognition systems in 2013 and is expected to maintain its dominance throughout the forecast period owing to the high ANPR penetration in different applications across European countries. Europe and North America collectively accounted for more than half of the revenue share in 2013.