According to MarketsandMarkets’ research report "Automatic Number Plate Recognition (ANPR) System Market by Type, Component, Application, and Geography - Global Forecast to 2023", the ANPR market in 2016 was valued at $1.78 Billion and is expected to reach $3.57 Billion by 2023, at a CAGR of 9.74% between 2017 and 2023. Factors that are driving this market include the infrastructure growth in emerging economies, increasing allocation of funds by various governments on intelligent transport system (ITS), deployment of camera technologies in security and surveillance, and traffic enforcement application, and the growing usage of video analytics technology for intelligent monitoring of vehicles.
Fixed ANPR systems to hold the largest share of the market
Market for electronic toll collection application is expected to grow at the highest rate
Europe is expected to hold the largest market share during the forecast period
The key players in the market include Kapsch TrafficCom AG (Austria), Conduent, Inc. (US), Q-Free ASA (Norway), Siemens AG (Germany), Genetec Inc. (Canada) Neology, Inc. (US), Bosch Security Systems GmbH (Germany), Tattile srl (Italy), TagMaster North America, Inc. (US), NDI Recognition Systems Ltd. (UK), Euro Car Parks Limited (UK), Quercus Technologies, S.L. (Spain) Vigilant Solutions, Inc. (US), Elsag North America, LLC (US), ARH Inc. (Hungary), Digital Recognition System Ltd. (UK), Beltech BV (Netherlands), ANPR International Ltd. (UK), HTS (New York), FF Group (Cyprus), and so on.