Automatic Number Plate Recognition Market Growing At 10 Per Cent
According to a PMR Report, the global $US2.2 billion automatic number plate recognition market will grow at a CAGR of 10 per cent between 2020 and 2030.
The ANPR software segment is expected to gain significant share in the automatic number plate recognition system market, due to increasing automation parking.
The mobile ANPR sensors segment is expected to hold a prominent share in the automatic number plate recognition system market, owing to increased demand for mobiles to identify and tag vehicle citation for expired parking.
There will also be increasing adoption of (ANPR systems in commercial vehicle parking, which is anticipated to result in significant dominance of North America in the automatic number plate recognition system market.
According to the report, adoption of ANPR systems is increasing for traffic surveillance, where they are used for measuring speed, and are capable of detecting traffic violations such as wrong-side directions, solid lane crossing, red light crossing, not using safety belts, exceeding speed limits uo to 200kmph, and more.