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Automatic Number Plate Recognition (ANPR) System Market Trends

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

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Automatic Number Plate Recognition System Market Trends

Advancements in recognition algorithms are an emerging trend in automatic number plate recognition (ANPR) systems. Continuous research & development efforts focus on refining algorithms, enabling systems to adapt and interpret varied formats, fonts, and colors. This evolution ensures improved identification capabilities, elevating the overall efficiency and reliability of these systems. Such innovations contribute to the adaptability of these systems across regions with different number plate standards, fostering a more versatile & effective technology.

For instance, in May 2023, Hanwha Vision unveiled the TNO-7180RLP high-speed ANPR camera, featuring 3 MP Global Shutter technology. Specifically designed for rapid identification, it can detect number plates on vehicles moving at speeds of up to 200 km/h (125 mph) across two lanes of traffic, offering enhanced efficiency in real-time number plate recognition.

Cloud-based automatic number plate recognition systems are gaining traction in the automatic number plate recognition (ANPR) systems market. Cloud integration allows for efficient data analysis, facilitating instant and centralized access to information. This trend enhances operational efficiency by minimizing on-site infrastructure requirements and promoting cost-effectiveness. The scalability of cloud-based automatic number plate recognition systems ensures adaptability to varying workloads and evolving needs, making them a dynamic & resource-efficient choice for organizations seeking advanced and flexible vehicular identification and management solutions.

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.