Global Automatic Number Plate Recognition (ANPR) Market 2017-2021

Overview of the global automatic number plate recognition (ANPR) market

Market research analysts at Technavio predict that the global automatic number plate recognition (ANPR) market will grow steadily during the next four years and post a CAGR of close to 13% by 2021. This market research analysis identifies the benefits such as real-time identification and tracking as one of the primary growth factors for this market. The increase in number of criminal activities and vehicle theft have led to the rising demand for real-time identification and tracking systems which have resulted in the increased adoption of surveillance systems. These systems aim to provide enhanced security and curb anti-social activities.

One of the latest trends that will gain traction in the automatic number plate recognition market in the coming years is the adoption of cloud-based ANPR system. Cloud-based surveillance systems help end-users benefit from numerous advantages such as pay-per-use, low initial investment and maintenance, easy deployment, and instant access. Additionally, the cloud-based model includes various services such as on- and off-site storage, remote video monitoring, cloud-based video content analytics, and real-time monitoring through the Internet.

Competitive landscape and key vendors