Market Overview:
The global license plate reader market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for automated traffic management and law enforcement solutions across the globe. In addition, the growing adoption of LPR technology for electronic toll collection and parking management applications is also contributing to the growth of this market. However, privacy concerns related to LPR technology are restraining its growth in some regions.
Product Definition:
A license plate reader (LPR) is a device that automatically reads license plates from vehicles. LPR technology is used by law enforcement agencies to identify and track vehicles, as well as stolen cars.
Independent Component:
An independent component is a part of the vehicle that has no dependence on any other system or component for its operation. In other words, it is an autonomous device which performs a specific task without any assistance from another system. The most common examples are the light and ignition switch, wiper motor and speed sensor etc.
One Machine:
One machine is a term used for the device that can scan and capture license plates on the move. It is also known as a reader or scanner. The number of machines used to scan plates depends on how many cars are being scanned at any given time. For instance, if there are 10,000 cars in an hour then there would be 1 machine for every 100 cars in an hour which gives us an idea of scalability and flexibility offered by one machine solution.
Application Insights:
The traffic management application segment accounted for the largest revenue share in 2016 and is projected to witness significant growth over the forecast period. This can be attributed to increasing adoption of license plate readers by transportation authorities, law enforcement agencies and private companies for managing traffic. Furthermore, several governments are deploying these systems at strategic points on highways to monitor vehicle flow and congestion levels so that appropriate measures can be taken to ease traffic congestion. Electronic toll collection is another lucrative application area where these devices are used because they help collect payment from vehicles via their transponders automatically without having staff present at toll gates all day long.
Other applications include railway reservation information display, inventory tracking of equipment or goods movement etc.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to various factors such as increasing government initiatives, technological advancements, and high demand for license plate recognition systems. For instance, in 2014, the Department of Homeland Security (DHS) launched a grant program called Smart City Mission for American cities with a focus on developing smart infrastructure and intelligent transportation systems. Under this initiative, it provided funds to nine U.S.
The Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to rapid urbanization coupled with increased spending on infrastructure development in countries like China and India which are major consumers of these readers worldwide due to growing traffic congestion problems resulting from increasing population density & vehicle count respectively).
Growth Factors:
- Increasing demand for security and safety measures across the globe is expected to drive the growth of the license plate reader market during the forecast period.
- The increasing adoption of LPR systems by law enforcement agencies for tracking criminals and improving public safety is another key factor that is expected to fuel the growth of this market in the near future.
- The growing demand for automated solutions across various industries is also anticipated to boost the growth of this market in coming years.
- The rising number of terrorist attacks and cross-border crimes are some other factors that are projected to propel demand for LPR systems in near future.
- Growing awareness about benefits offered by LPR systems among end users is another major factor that would fuel growth prospects for this market over next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
License Plate Reader Market Research Report
By Type
Independent Component, One Machine
By Application
Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Others
By Companies
NeuralLabs, HITEC International Corp, Milesight, Asura Technologies, Leonardo S.p.A, Kintronics, Platesmart Technologies, SMP Robotics, Johnson Controls, Canon, ZTSX, JinHao
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
226
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global License Plate Reader Market Report Segments:
The global License Plate Reader market is segmented on the basis of:
Types
Independent Component, One Machine
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- NeuralLabs
- HITEC International Corp
- Milesight
- Asura Technologies
- Leonardo S.p.A
- Kintronics
- Platesmart Technologies
- SMP Robotics
- Johnson Controls
- Canon
- ZTSX
- JinHao
Highlights of The License Plate Reader Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Independent Component
- One Machine
- By Application:
- Traffic Management
- Law Enforcement
- Electronic Toll Collection
- Parking Management
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the License Plate Reader Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A license plate reader (LPR) is a device used to capture data from license plates. This data can include the registration number, the make and model of the vehicle, and other information about the vehicle. LPRs are often used by law enforcement to track down criminals or suspects.
Some of the key players operating in the license plate reader market are NeuralLabs, HITEC International Corp, Milesight, Asura Technologies, Leonardo S.p.A, Kintronics, Platesmart Technologies, SMP Robotics, Johnson Controls, Canon, ZTSX, JinHao.
The license plate reader market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 License Plate Reader Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 License Plate Reader Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 License Plate Reader Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the License Plate Reader Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global License Plate Reader Market Size & Forecast, 2018-2028
4.5.1 License Plate Reader Market Size and Y-o-Y Growth
4.5.2 License Plate Reader Market Absolute $ Opportunity
Chapter 5 Global License Plate Reader Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 License Plate Reader Market Size Forecast by Type
5.2.1 Independent Component
5.2.2 One Machine
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global License Plate Reader Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 License Plate Reader Market Size Forecast by Applications
6.2.1 Traffic Management
6.2.2 Law Enforcement
6.2.3 Electronic Toll Collection
6.2.4 Parking Management
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global License Plate Reader Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 License Plate Reader Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America License Plate Reader Analysis and Forecast
9.1 Introduction
9.2 North America License Plate Reader Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America License Plate Reader Market Size Forecast by Type
9.6.1 Independent Component
9.6.2 One Machine
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America License Plate Reader Market Size Forecast by Applications
9.10.1 Traffic Management
9.10.2 Law Enforcement
9.10.3 Electronic Toll Collection
9.10.4 Parking Management
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe License Plate Reader Analysis and Forecast
10.1 Introduction
10.2 Europe License Plate Reader Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe License Plate Reader Market Size Forecast by Type
10.6.1 Independent Component
10.6.2 One Machine
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe License Plate Reader Market Size Forecast by Applications
10.10.1 Traffic Management
10.10.2 Law Enforcement
10.10.3 Electronic Toll Collection
10.10.4 Parking Management
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific License Plate Reader Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific License Plate Reader Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific License Plate Reader Market Size Forecast by Type
11.6.1 Independent Component
11.6.2 One Machine
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific License Plate Reader Market Size Forecast by Applications
11.10.1 Traffic Management
11.10.2 Law Enforcement
11.10.3 Electronic Toll Collection
11.10.4 Parking Management
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America License Plate Reader Analysis and Forecast
12.1 Introduction
12.2 Latin America License Plate Reader Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America License Plate Reader Market Size Forecast by Type
12.6.1 Independent Component
12.6.2 One Machine
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America License Plate Reader Market Size Forecast by Applications
12.10.1 Traffic Management
12.10.2 Law Enforcement
12.10.3 Electronic Toll Collection
12.10.4 Parking Management
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) License Plate Reader Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) License Plate Reader Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) License Plate Reader Market Size Forecast by Type
13.6.1 Independent Component
13.6.2 One Machine
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) License Plate Reader Market Size Forecast by Applications
13.10.1 Traffic Management
13.10.2 Law Enforcement
13.10.3 Electronic Toll Collection
13.10.4 Parking Management
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 License Plate Reader Market: Competitive Dashboard
14.2 Global License Plate Reader Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 NeuralLabs
14.3.2 HITEC International Corp
14.3.3 Milesight
14.3.4 Asura Technologies
14.3.5 Leonardo S.p.A
14.3.6 Kintronics
14.3.7 Platesmart Technologies
14.3.8 SMP Robotics
14.3.9 Johnson Controls
14.3.10 Canon
14.3.11 ZTSX
14.3.12 JinHao
