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Automatic Number Plate Recognition (ANPR) System Market Share

Report ID: GMI7788
Published Date: Jan 2024
Report Format: PDF

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Automatic Number Plate Recognition System Market Share

Bosch Security Systems, Inc., Hikvision Digital Technology and Kapsch (Kapsch Trafficcom AG) hold a majority of 28% in the market. The key companies are poised for dominance through strategic initiatives and technological advancements. Their global presence and robust distribution networks ensure extensive adoption of ANPR solutions. Moreover, collaborations and partnerships with various law enforcement agencies enhance market penetration. The integration of Artificial Intelligence (AI) and cloud-based solutions further solidifies their market positions, providing scalable and real-time capabilities.

As ANPR systems are becoming integral to smart city initiatives focused on comprehensive solutions, from traffic management to security applications, establishing themselves as key contributors to market growth. Investments in emerging markets, adherence to privacy regulations, and a commitment to sustainability propel these companies toward market dominance in the dynamic and competitive landscape of the market.

Automatic Number Plate Recognition System Market Companies

Major companies operating in the automatic number plate recognition (ANPR) system industry are:

Avigilon
Axis Communications
Bosch Security Systems, Inc.
Conduent Genetec Inc.
Digital Recognition
Genetec Inc.
Hikvision Digital Technology
Kapsch (Kapsch Trafficcom AG)
Q-Free ASA.
Vivotek

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automatic number plate recognition systems reached USD 3.2 billion in 2023 and is set to grow at over 9% CAGR from 2024 to 2032, led by the surge in global investments in smart cities.

Fixed automatic number plate recognition systems segment accounted for USD 2.18 billion in revenue in 2023, owing to its widespread application in law enforcement, traffic management, and security.

North America market held more than 30% revenue share in 2023, due to the presence of advanced transportation infrastructure in the region.

Some of the prominent automatic number plate recognition system companies are Bosch Security Systems, Inc., Avigilon, Axis Communications, Conduent Genetec Inc., Digital Recognition, Hikvision Digital Technology, Genetec Inc., Kapsch (Kapsch Trafficcom AG), and Vivotek.