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Automatic Number Plate Recognition Market is Expected to Surpass US$ 2,608.6 Mn by 2028

Automatic Number Plate Recognition Market is Expected to Surpass US$ 2,608.6 Mn by 2028 - Coherent Market Insights

Publish In: Jan 14, 2022

An automatic number plate recognition (ANPR) system reads the number plate on a passing vehicle and extracts the characters on the plate and converts them into a digital format. This digital data can be used for a variety of applications including crime-solving, prevention of crime, detection, and traffic law enforcement. ANPR is also used in traffic management, parking time management, toll detection, and speeding control. ANPR systems consist of high-speed cameras with IR filters, processors capable of performing optical character recognition (OCR), application software, user interface, and an alert capability to notify operators in case of a match.

Market Statistics:

The global automatic number plate recognition market is expected to surpass US$ 2,608.6 Mn in terms of value by the end of 2028.

Market Drivers

Rising investments and rapid economic growth in emerging economies is expected to propel the global automatic number plate recognition market growth over the forecast period. Emerging economies such as India, China, and other Southeast Asia economies have witnessed robust economic growth over the years. Many initiatives are being taken by respective governments for smooth economic development. For instance, in India ensure smooth economic development that favors a peaceful investing environment. For example, in India, the central government aims to facilitate investments in technology, resources, and scientific applications; programs such as “Make in India” are being commissioned to facilitate this. The government of India is also in the process of introducing and implementing the new Road Transport and Safety Bill, which include measures such as installing CCTV cameras at all traffic signals, setting up 5,000 centers across the country for issuing driving licenses based on computerized tests, and mandatory setting up of ANPR systems.

Market Opportunity

Integration of parking spaces with automated technology can offer significant opportunities in the global automatic number plate recognition market. Smart parking is a novel concept that uses the ANPR system for rapid and time-efficient parking. In busy car facilities, ANPR can help vehicle owners to find a parking spot easily for parking. Moreover, ANPR reduces latency in the entire process and also decreases the length of queue formation in the parking facilities. Key companies in the market can capitalize on these opportunities by providing novel products and gain a competitive edge in the market. 

Global Automatic Number Plate Recognition Market: Recent Developments

  • In July 2020, Conduent Transportation, a unit of business process services and solutions company Conduent Incorporated announced that it has been selected by the Ohio Turnpike and Infrastructure Commission to modernize and maintain the Ohio Turnpike’s toll collection system along the 241-mile interstate. The company will also implement its patented Automated License Plate Recognition technology to account for vehicles using E-ZPass lanes without a transponder
  • In November 2019, Tattile S.r.l. introduced new vehicle identification system Tattile Vega 1 with on-board intelligence to road license plates and recognize vehicle features.
  • In March 2018, Siemens was supposed to deliver a major project to develop software for the implementation of London's Ultra Low Emission Zone (ULEZ) for Transport for London (TfL), the organization in charge of the transport system in Greater London. The software was to be integrated with existing roadside sensors and Automatic Number Plate Recognition (ANPR) cameras deployed by Siemens. It was supposed to monitor and control the passing of highly polluting vehicles through designated geographic areas.

Market Restraint

Challenges related to ambiguous characters on number plates are expected to hamper the global automatic number plate recognition market growth over the forecast period. ANPR system faces numerous challenges related to the reading of vehicle number plates. Since there are no uniformity number plate systems, it challenging for the system to recognize other languages and ambiguous characters. The data recorded by these systems is then transferred into digital format and thus it is crucial that ANPR system recognizes every character on the number plate.

Global Automatic Number Plate Recognition Market - Impact of Coronavirus (Covid-19) Pandemic

Since the outbreak of the COVID-19 pandemic, several markets and industries have witnessed negative impact, including the global automatic number plate recognition market. Following the outbreak, many countries shut down international travel temporarily, in order to restrict the spread of the virus. Strict lockdown policies were adopted with stringent regulations on physical distancing, which affected manufacturing sector massively. Furthermore, significant disruption in global supply chain industry gas led to a sharp decline in the economic activities across the world. However, the said market is expected to regain its traction with relaxation in the COVID-19 regulations.

To know the latest trends and insights prevalent in the Global Automatic Number Plate Recognition Market, click the link below:

Key Takeaways:

  • The global automatic number plate recognition market was valued at US$ 1,023.2 Mn in 2020 and is forecast to reach a value of US$ 2,608.6 Mn by 2028 at a CAGR of 12.4% between 2021 and 2028. This is owing to increasing demand for ANPR systems for traffic enforcement and management.
  • The Government end-use industry segment was valued US$ 1,023.2 Mn in 2020 and is expected to witness a CAGR of 12.4% over the forecast period. This is owing to deployment of ANPR systems in security and surveillance, traffic enforcement application and increasing allocation of funds by government end-use industry.

Market Trends

Among regions, North America is expected to witness significant growth in the global automatic number plate recognition market during the forecast period. This is owing to the rapid digitalization of traffic monitoring systems on bridges and highways combined with an IoT-enabled approach for the configuration of the automatic number plate in the region. Furthermore, increasing R&D activities in the field of ANPR is expected to boost the North America automatic number plate recognition market growth over the forecast period.

Asia Pacific is expected to register a robust growth rate in the global automatic number plate recognition market over the forecast period. This is owing to increasing deployment of ANPR by traffic control and law enforcement agencies in emerging economies such as China, South Korea, and Vietnam. Moreover, growing emphasis on highway patrolling is expected to boost the Asia Pacific automatic number plate recognition market growth over the forecast period.

Competitive Section

Major companies operating in the global automatic number plate recognition market are ARH, Inc., Vigilant Solutions, Bosch Security Systems, Inc., Tattile S.r.l., Digital Recognition Systems, Ltd., Siemens AG, ELSAG North America LLC, Q-Free ASA, Genetec, Inc., PIPS Technology Ltd., and NDI Recognition Systems LLC.

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