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The global automatic license plate recognition market is expected to see rapid growth in the next few years, reaching $13.16 billion in 2028 at a CAGR of 13.2%. This growth can be attributed to investments in infrastructure, regulatory mandates for vehicle identification, and the emergence of 5G networks. Major trends include expansion in commercial applications, collaboration with the automotive industry, and a focus on AI and machine learning. Top companies in the market include Siemens AG, Neology Inc., and Motorola Solutions.
