The ANPR System Market Overview Report and Trends

MarketsandMarkets Presents ANPR System Market by Type (Fixed, Mobile, Portable), Component (ANPR Cameras, ANPR Software, Frame Grabbers, Triggers), Application, End-User (Government, Commercial, Institutions) & Region (North America, APAC, Europe, RoW) - Global Forecast to 2027 The global ANPR system market is projected to reach USD 4.8 billion by 2027 from USD 3.1 billion in 2022; it is expected to register a CAGR of 9.2% from 2022 to 2027.

MarketsandMarkets Presents Fixed Anpr Systems to Account for the Largest Share of the ANPR System Market During Forecast Period.

Fixed ANPR systems held the largest share of the ANPR system market in 2021.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140920103 The increasing usage of fixed ANPR systems for traffic management solutions is a major driver for the sub-segment. With the increasing number of government initiatives across the world to modernize roadways infrastructure, there is a rising demand for improving the monitoring of vehicles and for automated solutions for tolling, which are promoting the growth of the fixed ANPR system market.

MarketsandMarkets Presents Anpr Software to Register Highest CAGR in the ANPR System Market During Forecast Period.

ANPR software is an integral part of the system. The integrated image processing software automatically scans the stream of incoming images for any vehicle and its number plate. ANPR software enables the conversion of captured images into a digital format for electronic storage and future reference. Technological advancements have enabled increased rates of detection and have enhanced accuracy by many folds.

MarketsandMarkets Presents “Electronic Toll Collection Application to Register Highest CAGR in ANPR System Market During Forecast Period” The market for the electronic toll collection application is expected to register the highest growth during the forecast period. With an increase in road connectivity, there is an increase in the number of toll booths across the world. To avoid overcrowding and to improve monitoring & detection of vehicles at toll booths, there is an increasing demand for automated solutions, which, in turn, is promoting the usage of ANPR systems for tolling. ANPR systems enable the prevention of scams & frauds and improve the accuracy of road charging systems. Also, the use of ANPR systems helps in reducing the wastage of fuel and the time and excess manpower involved in road charging activities.

MarketsandMarkets Presents ANPR System Market in APAC to Witness Highest CAGR During Forecast Period.

The market in APAC is expected to register the highest growth during the forecast period. The growing population and urbanization in the region have resulted in an increasing number of vehicles. The governments in the region are actively adopting and implementing infrastructure development projects, several of which are aimed at roadways modernization.

Key Market Players Kapsch TrafficCom (Austria), Siemens (Germany), Conduent, Inc. (US), HikVision (China), Q-Free ASA (Norway), Genetec, Inc. (Canada), Adaptive Recognition (Hungary), Jenoptik Group (Germany), Axis Communications (Sweden), and Nedap (Netherlands) Know more @ https://www.marketsandmarkets.com/Market-Reports/anpr-system-market-140920103.html

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