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
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