According the report, Increasing Usage of Video Analytics Technology for Intelligent Monitoring of Vehicles is one of the primary growth factors for the market. Increasing demand for traffic management and security solutions is also expected to contribute significantly to the Vehicle License Plate Recognition market. Overall, Traffic Management applications of Vehicle License Plate Recognition, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.

AMA’s Analyst on the Global Vehicle License Plate Recognition market identified that the demand is rising in many different parts of the world as "Increasing Demand of Vehicle from Emerging Market such as China and India". Furthermore, some recent industry insights like "In 2019, as per an article published by The New Indian Express (India), the state GST Department has announced to install Automatic Number plate recognition cameras at major check posts to check e-way bill compliance of goods vehicles. Hence, it will influence market growth." is constantly making the industry dynamic. One of the challenges that industry facing is "Misinterpretation of Ambiguous Characters on Number Plates"

The Software , such as OCR, is boosting the Vehicle License Plate Recognition market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The Hardware , such as Storage, is boosting the Vehicle License Plate Recognition market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Vehicle License Plate Recognition market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Vehicle License Plate Recognition market and other related sub-markets covered in the study.

o Key & emerging players in the Vehicle License Plate Recognition market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Vehicle License Plate Recognition market size is calculated using market estimation process, the Vehicle License Plate Recognition market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Vehicle License Plate Recognition market size has been validated using both top-down and bottom-up approaches.