About LPR Cameras
LPR (License plate recognition) cameras are a specialized type of video surveillance camera designed to capture numbers and letters of license plates on still or moving vehicles. These cameras are designed with built-in hardware and software that compensates for speed, weather, and headlight glare. Regular security cameras usually cannot compensate for these variables to capture a usable video that identifies license plate numbers. Infrastructural growth in emerging economies and deployment of LPR camera in security and surveillance and traffic enforcement applications are some of the key drivers of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.0% |
The global LPR cameras market is fragmented due to the well-established players in the market. So the players are focusing and investing in technological advancements by using artificial intelligence in cloud-based for high accuracy. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global LPR Cameras market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
MESSOA Technologies (United States), Bosch (Germany), A1 Security Cameras (United States), Vivotek, Inc. (Taiwan), MAV Systems (United Kingdom), Digital Recognition Systems (United Kingdom), ARH Inc. (Hungary), Vigilant Solutions Inc. (United States), 3M Company (United States) and NDI Recognitions Systems Ltd. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Elsag North America LLC (United States), DTK Software (Latvia), FLIR Systems (United States), Hikvision (United States), ACTi (Taiwan), Arteco (United States), Avigilon (Canada), Aventura (United States), Digifort (Brazil) and FF-Group (Czech Republic).
Segmentation Overview
AMA Research has segmented the market of Global LPR Cameras market by Type (Fixed LPR Camera and Mobile LPR Camera), Application (Law Enforcement, Electronic Toll Collection, Parking Management and Others) and Region.
On the basis of geography, the market of LPR Cameras has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the LPR Cameras market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing AI-enabled LPR's Popularity
Market Growth Drivers:
Infrastructural Growth in Emerging Economies, Deployment of LPR Camera in Security and Surveillance, and Traffic Enforcement Applications and The Growing Cases of Vehicle Theft Worldwide
Challenges:
Issues Regarding Technology Upgradation and Concerns related to Privacy
Restraints:
Lack of Accuracy Due to Dirt, Snow, Rain, among other Factors
Opportunities:
Integration of Parking Spaces with Automated Technology
Market Leaders and their expansionary development strategies
On 17th January 2022, MOBOTIX announced the acquisition of Vaxtor Group, a specialist in optical character recognition, automated license plate recognition, artificial intelligence, and deep learning technologies. Vaxtor enhances MOBOTIX’s strategic orientation in deep learning as Vaxtor can run ALPR decentralized via apps with a competitive advantage against the number of competitors.
On 10th March 2022, Eagle Eye Networks the global leader in cloud video surveillance announced the launch of Eagle Eye license plate recognition, which uses artificial intelligence in a true cloud-based for high accuracy in all kinds of challenging conditions. Eagle Eye LPR operates on readily available security cameras making it affordable and practical for business owners.
Key Target Audience
LPR Cameras Manufacturers, LPR Cameras Sub Component Manufacturers, LPR Cameras Traders/Distributors, LPR Cameras Importer/Exporter, LPR Cameras Potential Technology Investors, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.