Market Overview:
The global license plate recognition technology market is expected to grow at a CAGR of 10.8% 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 car park management is also contributing to the growth of this market. However, privacy concerns related to LPR technology are restraining its growth in some regions. On the basis of type, the global license plate recognition technology market can be segmented into cameras, software & services, and others (including readers and controllers). The cameras segment is expected to hold a major share of this market during the forecast period owing to their wide adoption for traffic management and law enforcement applications. On the basis of application, this market can be divided into traffic management, law enforcement, electronic toll collection (ETC), car park management, and others (including vehicle registration & verification). Traffic management is currently one ofthe most promising application areas for LPR technology owingto its ability toreduce congestionand improve safety on roads. Law enforcementis another keyapplication area forLPRtechnology as it helpsin tracking criminalsand reducing crime rates .
Product Definition:
License plate recognition technology is a type of optical character recognition technology that is used to identify license plates on motor vehicles. This technology can be used for various purposes, such as tracking the movements of drivers or vehicles, enforcing parking regulations, and identifying stolen cars.
Cameras:
Cameras are used in the global license plate recognition technology market for capturing images of vehicles and their numbers, which are then processed by computers to compare them with registered data. The primary function of cameras is to capture images; however, they also serve as a platform for other functions such as detecting objects and determining speed. They work on the principle of electromagnetic induction.
Software & Services:
Software and services are used in the field of license plate recognition technology for various applications such as data storage, data extraction, pattern recognition, and pattern validating. The global market is expected to grow at a significant pace over the forecast period owing to increasing demand for automated number plate recognition systems from law enforcement agencies across the globe.
Application Insights:
The traffic management segment dominated the global license plate recognition technology market in 2017 and is expected to witness significant growth over the forecast period. This can be attributed to increasing demand for automated traffic management systems from various governments around the world. Electronic toll collection system is another lucrative segment that is expected to witness considerable growth over the next eight years owing to its wide application across highways and roadways worldwide.
Traffic enforcement agencies are increasingly using these technologies for monitoring vehicular movements, identifying suspicious vehicles or individuals, tracking down criminals, and deterring vandals by broadcasting a recorded message warning them of severe consequences if they continue with their anti-social activities. The electronic toll collection system also has applications in collecting fines from drivers who fail to pay tolls at designated lanes or booths on highways and roads throughout Europe, Asia Pacific, North America as well as Latin America countries respectively.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This growth can be attributed to various factors such as increasing government initiatives, technological advancements, and high demand for vehicles with advanced features. For instance, in December 2016, Texas Department of Transportation (TxDOT) launched a free app for smartphones that helps drivers register their vehicle's plate information and pay traffic citations directly from their smartphone citation history.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising disposable income among consumers and improving automotive industry outlook in emerging economies including China and India. Growing adoption of license plate recognition technology by governments across countries for effective management of traffic congestion will drive this regional market further ahead during the estimated time span from 2018 to 2030 in terms of revenue generation opportunities as well as investments by major players operating companies/divisions etc.
Growth Factors:
- Increasing demand for security and surveillance systems across the globe is expected to drive the growth of the license plate recognition technology market during the forecast period.
- The increasing adoption of LPR technology by law enforcement agencies for tracking criminals and improving public safety is another major factor that is expected to fuel the growth of this market in the coming years.
- The growing demand for automated vehicle identification systems across various industries is also anticipated to boost the growth of this market in near future.
- The rising trend of using LPR technology in parking management applications is also projected to contribute significantly towards its growth over next few years.
- Growing awareness about benefits offered by LPR technology over traditional methods such as barcode scanning or RFID tagging is likely to create new opportunities for this market in forthcoming years
Scope Of The Report
Report Attributes
Report Details
Report Title
License Plate Recognition Technology Market Research Report
By Type
Cameras, Software & Services
By Application
Traffic Management, Law Enforcement, Electronic Toll Collection, Car Park Management, Others
By Companies
AlertSystems, ARH, Arvoo Imaging Products, Bosch Security Systems, CA Traffic, Clearview Communications, Digital Recognition Systems, Elsag, Genetec, GeoVision, HTS, Inex Tech, Jenoptik, Kapsch TrafficCom, Leonardo Company, MAV Systems, Motorola, NDI Recognition Systems, Nedap, Neology, NEXCOM, ParkingEye Limited, Perceptics, Petards Group, Q-free (Dacolian), Rekor, Shenzhen AnShiBao, Siemens, Survision, TagMaster, Tattile, Vivotek
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
155
Number of Tables & Figures
109
Customization Available
Yes, the report can be customized as per your need.
Global License Plate Recognition Technology Market Report Segments:
The global License Plate Recognition Technology market is segmented on the basis of:
Types
Cameras, Software & Services
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, Car Park 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:
- AlertSystems
- ARH
- Arvoo Imaging Products
- Bosch Security Systems
- CA Traffic
- Clearview Communications
- Digital Recognition Systems
- Elsag
- Genetec
- GeoVision
- HTS
- Inex Tech
- Jenoptik
- Kapsch TrafficCom
- Leonardo Company
- MAV Systems
- Motorola
- NDI Recognition Systems
- Nedap
- Neology
- NEXCOM
- ParkingEye Limited
- Perceptics
- Petards Group
- Q-free (Dacolian)
- Rekor
- Shenzhen AnShiBao
- Siemens
- Survision
- TagMaster
- Tattile
- Vivotek
Highlights of The License Plate Recognition Technology 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:
- Cameras
- Software & Services
- By Application:
- Traffic Management
- Law Enforcement
- Electronic Toll Collection
- Car Park 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 Recognition Technology 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?
License plate recognition technology is a system that can automatically identify the license plate of a vehicle. This technology is used by law enforcement to track down criminals and stolen vehicles.
Some of the major players in the license plate recognition technology market are AlertSystems, ARH, Arvoo Imaging Products, Bosch Security Systems, CA Traffic, Clearview Communications, Digital Recognition Systems, Elsag, Genetec, GeoVision, HTS, Inex Tech, Jenoptik, Kapsch TrafficCom, Leonardo Company, MAV Systems, Motorola, NDI Recognition Systems, Nedap, Neology, NEXCOM, ParkingEye Limited, Perceptics, Petards Group, Q-free (Dacolian), Rekor, Shenzhen AnShiBao, Siemens, Survision, TagMaster, Tattile, Vivotek.
The license plate recognition technology market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 License Plate Recognition Technology 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 Recognition Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 License Plate Recognition Technology 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 Recognition Technology 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 Recognition Technology Market Size & Forecast, 2018-2028
4.5.1 License Plate Recognition Technology Market Size and Y-o-Y Growth
4.5.2 License Plate Recognition Technology Market Absolute $ Opportunity
Chapter 5 Global License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Type
5.2.1 Cameras
5.2.2 Software & Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Applications
6.2.1 Traffic Management
6.2.2 Law Enforcement
6.2.3 Electronic Toll Collection
6.2.4 Car Park Management
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global License Plate Recognition Technology 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 Recognition Technology 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 Recognition Technology Analysis and Forecast
9.1 Introduction
9.2 North America License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Type
9.6.1 Cameras
9.6.2 Software & Services
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 Recognition Technology Market Size Forecast by Applications
9.10.1 Traffic Management
9.10.2 Law Enforcement
9.10.3 Electronic Toll Collection
9.10.4 Car Park 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 Recognition Technology Analysis and Forecast
10.1 Introduction
10.2 Europe License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Type
10.6.1 Cameras
10.6.2 Software & Services
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 Recognition Technology Market Size Forecast by Applications
10.10.1 Traffic Management
10.10.2 Law Enforcement
10.10.3 Electronic Toll Collection
10.10.4 Car Park 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 Recognition Technology Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Type
11.6.1 Cameras
11.6.2 Software & Services
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 Recognition Technology Market Size Forecast by Applications
11.10.1 Traffic Management
11.10.2 Law Enforcement
11.10.3 Electronic Toll Collection
11.10.4 Car Park 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 Recognition Technology Analysis and Forecast
12.1 Introduction
12.2 Latin America License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Type
12.6.1 Cameras
12.6.2 Software & Services
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 Recognition Technology Market Size Forecast by Applications
12.10.1 Traffic Management
12.10.2 Law Enforcement
12.10.3 Electronic Toll Collection
12.10.4 Car Park 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 Recognition Technology Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) License Plate Recognition Technology 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 Recognition Technology Market Size Forecast by Type
13.6.1 Cameras
13.6.2 Software & Services
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 Recognition Technology Market Size Forecast by Applications
13.10.1 Traffic Management
13.10.2 Law Enforcement
13.10.3 Electronic Toll Collection
13.10.4 Car Park 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 Recognition Technology Market: Competitive Dashboard
14.2 Global License Plate Recognition Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AlertSystems
14.3.2 ARH
14.3.3 Arvoo Imaging Products
14.3.4 Bosch Security Systems
14.3.5 CA Traffic
14.3.6 Clearview Communications
14.3.7 Digital Recognition Systems
14.3.8 Elsag
14.3.9 Genetec
14.3.10 GeoVision
14.3.11 HTS
14.3.12 Inex Tech
14.3.13 Jenoptik
14.3.14 Kapsch TrafficCom
14.3.15 Leonardo Company
14.3.16 MAV Systems
14.3.17 Motorola
14.3.18 NDI Recognition Systems
14.3.19 Nedap
14.3.20 Neology
14.3.21 NEXCOM
14.3.22 ParkingEye Limited
14.3.23 Perceptics
14.3.24 Petards Group
14.3.25 Q-free (Dacolian)
14.3.26 Rekor
14.3.27 Shenzhen AnShiBao
14.3.28 Siemens
14.3.29 Survision
14.3.30 TagMaster
14.3.31 Tattile
14.3.32 Vivotek
