Automatic Number Plate Recognition Market Size

Managing traffic control and identifying reckless drivers and violators of traffic rules pose significant challenges in the current scenario. The rapid movement of vehicles makes it difficult for traffic police to retrieve license plate numbers efficiently. To address these issues, various agencies are increasingly adopting Automatic Number Plate Recognition (ANPR) systems.

ANPR is a highly accurate technology designed to read vehicle number plates without human intervention. It utilizes high-speed image capturing devices to detect characters within the images, verifying the character sequences on the license plates. The captured data is then compared with records in databases containing details such as the vehicle owner's information, registration place, and address.

Primarily employed by police forces and law enforcement agencies, the ANPR system aids in tracking criminal behavior, facilitating crime investigations. Additionally, the system finds applications in car parking management, traffic control, retail park security, toll management, bus lane enforcement, and intelligent transport systems.

The growth of the automatic number plate recognition market is driven by the installation of ANPR systems for safety and traffic enforcement, coupled with the increased adoption of video analytics technology. The market was valued at USD 608.7 million in 2017, and it is projected to reach USD 1,142.2 million by 2023, exhibiting a Compound Annual Growth Rate (CAGR) of 11.24% during the forecast period from 2018 to 2023. The emergence of smart parking technology is anticipated to further contribute to the market's expansion in the coming years.

The adoption of Automatic Number Plate Recognition (ANPR) systems addresses critical challenges in traffic control and law enforcement. By leveraging high-speed image capturing devices, ANPR accurately reads vehicle number plates without human intervention, overcoming the difficulty of identifying fast-moving vehicles. This technology detects characters within captured images and verifies the character sequences on license plates, enabling efficient retrieval of crucial data. ANPR systems play a pivotal role in enhancing public safety, particularly for police forces and law enforcement agencies, aiding in the tracking of criminal activities and streamlining crime investigations. Beyond law enforcement, ANPR systems find versatile applications in car parking management, traffic flow control, retail park security, toll management, bus lane enforcement, and the development of intelligent transport systems. The market's growth is driven by the increasing installation of ANPR systems for safety and traffic enforcement purposes, coupled with the widespread adoption of video analytics technology. As smart parking technology continues to emerge, it is poised to further contribute to the expansion of the ANPR market in the foreseeable future.