Automatic numberplate recognition systems (ANPR) are more popular than ever before. According to MarketsandMarkets, the global ANPR system market is projected to reach USD 4.8 billion by 2027 from USD 3.1 billion in 2022 at a CAGR of 9.2 percent during this period.
The research agency suggests that the major factors driving the growth include the increasing deployment of ANPR systems in security and surveillance and traffic management applications, infrastructure growth in emerging economies, increasing allocation of funds by various governments on ITS, and the growing use of video analytics technology for intelligent monitoring of vehicles.
But are these the only factors? Asmag.com recently spoke to a few ANPR companies to know what they consider as factors affecting demand.
In the News
By Prasanth Aby Thomas
Covered on these news sites. Click the image to read more.
Other posts that might interest you
SIW: Brivo acquired by Eagle Eye Networks Founder Dean Drako for $50M
Brivo on Thursday announced that the company has been acquired by Dean Drako, the founder, president and CEO of Eagle Eye Networks, for $50 million. As the owner, Drako will…
June 11, 2015
Security Director News: 68 percent want to use security cameras for operational improvement
The top ways companies want to use video are: to increase sales, employee productivity, liability protection. "They want to know, ‘how do I use surveillance cameras for more than just…
June 27, 2014
Eagle Eye Networks Relocates Japan Corporate Headquarters
Eagle Eye Networks, which provides a cloud video surveillance system, has begun full-scale entry into the Japanese market. With the new office relocation, the company will establish sales, sales and…
March 14, 2019