Automatic Number Plate Recognition Market Size is Expected to Reach at USD 5,825 Million by 2030, Registering a CAGR of 9.6%, Owing to Rising Demand for Smart Cities

The Global Automatic Number Plate Recognition Market Size is predicted to reach USD 5,825 Million by 2030 from USD 2,598 Million in 2021, at a CAGR of 9.6% between 2022 and 2030, as per the Acumen Research and Consulting The rising adoption of automatic number plate recognition systems in traffic enforcement and management, as well as the demand for greater security in the public sector, are the primary factors driving the market growth. Automatic number plate recognition (ANPR), also known as automatic license plate recognition (ALPR), is a surveillance device that can capture and analyze a vehicle's license plate image. ANPR technologies have proven useful in implementing traffic laws such as speed control and red light enforcement. Automatic number plate recognition systems are increasingly being used in security and surveillance applications by law enforcement organizations across the world. The biggest issue in installing ANPR systems, however, is the lack of uniformity in number plate/license plate design. Other challenges include linguistic limitations and privacy concerns about the security of data gathered by ANPR cameras. During the forecast period, tolling and smart parking management applications are projected to offer significant opportunities for the growth of the automatic number plate recognition market size. Automatic Number Plate Recognition Market Statistics Global automatic number plate recognition market value was worth USD 2,598 Million in 2021, with a 9.6% CAGR from 2022 to 2030 Europe automatic number plate recognition market share occupied around 38.1% in 2021 According to the report, over 13,000 ANPR cameras in the UK detect vehicle movement and upload approximately 55 million recordings to national ANPR networks every day By end-user, government sub-segment achieved over 67% of share in 2021 Advancement in technology such as 5G, IoT, and AI, propel the automatic number plate recognition market revenue Request for a sample of this premium research report@ https://www.acumenresearchandconsulting.com/request-sample/396 Automatic Number Plate Recognition Market Overview The Automatic Number Plate Recognition (ANPR) market is a rapidly growing industry, driven by advances in technology and the increasing demand for security and surveillance solutions. ANPR can be a standalone system or integrated with current traffic cameras or closed-circuit video systems, and it can be used by law enforcement to detect and prevent crimes. ANPR systems are also utilized to collect electronic tolls, monitor red light adherence, speed enforcement, as well as other traffic activities. These systems can also help in identifying stolen automobiles because they are linked to a vehicle registrant database and the information can be retrieved in real time when the vehicle image is acquired by any of the ANPR cameras. The ANPR technology varies from place to place due to the differences in the design of number plates. Automatic Number Plate Recognition Market Segmentation                 Acumen Research and Consulting has segmented the global automatic number plate recognition market by application, and end-user. Based on the application, the market is categorized into traffic management, security and surveillance, toll enforcement, and vehicle parking. Amongst these, security and surveillance was the largest application segment in the global ANPR market and accounted for the largest market share in 2021. ANPR technology is currently mostly employed for security and surveillance, as well as traffic control applications. Vehicle parking and toll collection applications are projected to grow significantly in the future years as ANPR is increasingly used in commercial and government sectors. Based on the end-user, the industry is divided into commercial (dedicated car parks, and entertainment and recreation facilities), and government (defense, homeland security, and traffic department). According to the automatic number plate recognition market forecast, the government segment is estimated to grow significantly over the next several years. Automatic Number Plate Recognition Market Regional Overview        Geographically, the global automatic number plate recognition market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to an automatic number plate recognition industry analysis, Europe was the largest market in 2021 and is likely to continue its dominance during the forecast period. Stringent government laws governing traffic enforcement have resulted in the greater deployment of this technology in European countries. Furthermore, countries such as Germany, Italy, the United Kingdom, and France have developed and implemented license plate recognition systems to police traffic laws. Furthermore, the existence of a significant number of businesses in the region, such as ARH Inc., NDI Recognition Systems Inc., and Q-Free ASA, has raised consumer awareness as these companies seek to expand their client base in domestic markets. Almost all European countries are now employing this technology. As a result, ANPR is in high demand in this region, and this trend is predicted to continue during the projected timeframe. Automatic Number Plate Recognition Market Players    Several well-known manufacturers of automatic number plate recognition include Siemens AG, Digital Recognition Systems, Ltd., NDI Recognition Systems LLC, Bosch Security Systems, Inc., ELSAG North America LLC, Genetec, Inc., Vigilant Solutions, PIPS Technology Ltd., Tattile S.r.l., ARH, Inc., and Q-Free ASA. To maintain market competition, prominent companies in this market use mergers and acquisitions for innovation and new product development, as well as partnerships to improve product quality. Click here to buy the Premium Market Research report https://www.acumenresearchandconsulting.com/buy-now/0/396 Receive our personalized services and customization by clicking here https://www.acumenresearchandconsulting.com/request-customization/396 Mr. Frank Wilson Acumen Research and Consulting USA: +13474743864 India: +918983225533 E-mail: sales@acumenresearchandconsulting.com