What is Vehicle License Plate Recognition Market?
Vehicle plate recognition is used to store the images captured by the cameras. It is also used to capture the text from the license plate. It is also known as Automatic (or automated) license-plate recognition (ALPR) or Lecture automatique de plaques d'immatriculation (LAPI). Deployment of VLPR systems in security and surveillance, and traffic enforcement applications and growing usage of video analytics technology for intelligent monitoring of vehicles are projected to drive the global Vehicle plate recognition market over the forecast period.
Highlights from Vehicle License Plate Recognition Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Conduent, Inc. (United States), Vigilant Solutions, Inc. (United States), Neology, Inc. (United States), KAPSCH TrafficCom AG (Austria), Q-Free ASA (Norway), Elsag North America, LLC (United States), ARH Inc. (Hungary), Siemens AG (Germany), Genetec Inc. (Canada), Bosch Security Systems, Inc. (Germany), Tattile SRL (Italy) and TagMaster North America, Inc. (United States) |
The market for Vehicle License Plate Recognition (VLPR) is fiercely competitive due to the presence of numerous players in the market. Established players and new entrants in the market offer a broad spectrum of products and services to meet the needs of different end-users and market segments. To maintain competitiveness, many players are investing in research and development activities to improve their products' accuracy, reliability, and functionality. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Vehicle License Plate Recognition market throughout the forecasted period.
Conduent, Inc. (United States), Vigilant Solutions, Inc. (United States), Neology, Inc. (United States), KAPSCH TrafficCom AG (Austria), Q-Free ASA (Norway), Elsag North America, LLC (United States), ARH Inc. (Hungary), Siemens AG (Germany), Genetec Inc. (Canada), Bosch Security Systems, Inc. (Germany), Tattile SRL (Italy) and TagMaster North America, Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Digital Recognition System Ltd. (United Kingdom), NDI Recognition Systems (United Kingdom), Beltech BV (Netherlands), Euro Car Parks Limited (United Kingdom), ANPR International Ltd (United Kingdom), Quercus Technologies, S.L. (Spain), ParkingEye Limited (United Kingdom) and HTS (United States). Vehicle License Plate Recognition Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Traffic Management, Law Enforcement, Electronic Toll Collection and Parking Management |
Type | Fixed Vehicle License-Plate Recognition Systems, Mobile Vehicle License-Plate Recognition Systems and Portable Vehicle License-Plate Recognition Systems |
Software | OCR,Webcam,MATLAB |
Hardware | Storage,PC,Webcam,IR Sensor |
On the basis of geography, the market of Vehicle License Plate Recognition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Usage of Video Analytics Technology for Intelligent Monitoring of Vehicles
Market Growth Drivers:
Increasing demand for traffic management and security solutions
Challenges:
Misinterpretation of Ambiguous Characters on Number Plates
Restraints:
Problem related to Inconsistency in Number Plate Designs
Opportunities:
Increasing Demand of Vehicle from Emerging Market such as China and India
Key Target Audience
Analysts and Strategic Business Planners, Governments, Financial Institutions, and Investment Communities, Original Equipment Manufacturers, Product Manufacturers, Raw Material and Manufacturing Equipment Suppliers and Others
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.