SecurityWorldMarket

26/12/2020

ANPR market expected to see growth to 2025

Northbrook, Il (USA)

The latest report on the ANPR systems market to 2025 and including Covid-19 impact analysis, from Marketsandmarkets, predicts that the sector is expected to grow from USD 2.3 billion in 2020 to USD 3.8 billion by 2025, at a CAGR of 10.0%.

The researchers suggest there are several factors driving the market, such as the deployment of ANPR systems in security and surveillance, and traffic enforcement applications, infrastructure growth in emerging economies, increasing allocation of funds by various governments for ITS, and so on.

Fixed ANPR systems account for the largest share

Based on type, the ANPR system market has been divided into fixed, mobile, and portable. Fixed ANPR systems held the highest share in 2019. The market growth can be attributed to the increasing demand for fixed ANPR systems for various applications, such as traffic management and toll collection. Mobile ANPR systems are widely used in police and law enforcement agencies to ensure proper security and surveillance.

Traffic management dominates

On the basis of applications, the market is categorised into traffic management, law enforcement, electronic toll collection, parking management, and access control. The increasing adoption of vehicles and stringent government regulations for implementing electronic toll collection systems is driving the growth of the ANPR system market.

Europe leads the way

Europe held the largest share in the ANPR system market in 2019, according to the analysts. In Europe, ANPR systems are widely used for law enforcement applications. The increasing government initiatives pertaining to the adoption of ITS and the growing population in this region are driving the need for an efficient transportation system, which, in turn, is fuelling the growth of the ANPR system market.

Some of the key companies named as being actively operating in the market are Kapsch Trafficcom, Conduent, Q-Free, Siemens, and Genetec.


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