ANPR System Market

Key Revenue Pockets - ANPR System Market

The ANPR system market is expected to grow from USD 2.3 billion in 2020 to USD 3.8 billion by 2025, at a CAGR of 10.0%. 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—are the key factors driving the ANPR system market.

Based on the type, the ANPR system market has been divided into fixed, mobile, and portable. Fixed ANPR system 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.

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On the basis of applications, the market is categorized 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.

Among all regions, APAC is expected to register the highest growth in the ANPR system market during the forecast period. China, , Japan, India, and Rest of APAC are covered under the APAC ANPR system market analysis. The rising need for efficient traffic management is driving the growth of the market in this region. Traffic management has become crucial to support the ongoing business activities in the countries in APAC, such as India, Japan, South Korea, and China.

Related Reports:

ANPR System Market with COVID-19 Impact Analysis by Type (Fixed, Mobile, Portable), Application (Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Access Control), Component, and Geography - Global Forecast to 2025

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Report Code
SE 3932
RI Published ON
12/15/2020
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