Research and Markets has forecast the automatic number plate recognition systems market’s value would grow 13.5 percent annually through 2020 due to an increasing adoption of the technology for surveillance activities.
The research firm said Monday ANPR technology is designed to recognize vehicle registration plates, convert license plate characters into digital records and automatically store that information in a database.
ANPR cameras are increasingly being used in toll enforcement, parking lot monitoring, traffic management and security operations, the report states.
Research and Markets also predicts that emerging countries such as India and China will see a high demand for ANPR technology through 2020.
Key players in the sector include Bosch Security Systems, Genetec, PIPS Technology and Tattile.