What is Vehicle Registration Plate Market Scope?
Nowadays, vehicles play a dynamic role in the transportation system and the use of vehicles is also increasing exponentially due to the population growth and their needs. Increasing automobiles are violating the rules of traffic, ingoing to restricted areas, the abnormal number of accidents lead to an upturn in the crime rates linearly, and theft of vehicles. For any vehicle to be recognized, Vehicle Registration Plate will play a main significant job in this world. Vehicle Registration Plate acknowledgment is an image processing technology that recognizes the authorized vehicles by tracking their license plate without direct human interfering. In India, new vehicle sales in December 2018 were down by 2.3 %, but approximately 3 Million (USD) vehicle registration plate market is available and CAGR is rising in the forecast period.
The Vehicle Registration Plate market study is being classified by Type (Aluminum License Plate, Plastic License Plate and Other), by Application (Two Wheelers, Passenger Vehicles and Commercial Vehicles) and major geographies with country level break-up.
The Vendors having a strong hold in the market are UTSCH, Samar't Group, Waldale Irwin Hodson Group, and Hills Numberplates Ltd. Analysts at AMA predicts that Vendors from European will contribute to the maximum growth of Global Vehicle Registration Plate market throughout the predicted period.
UTSCH (Germany), Samar't Group (Spain), Waldale Irwin Hodson Group (United States), Hills Numberplates Ltd (United Kingdom), SAMART NUMBER PLATES (United Kingdom), JH Toennjes (Germany), SPM Groupe (France), EHA Hoffmann International GmbH (Germany), Jepson & Co. Ltd (United Kingdom) and Bestplate Ltd (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Fuwong License Plate (China), Shanghai Fa Yu Industrial (China) and Xialong Traffic (China).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Vehicle Registration Plate market by Type, Application and Region.
On the basis of geography, the market of Vehicle Registration Plate 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).
Market Influencers and their development strategies
On 8th February 2018, Hills Numberplates Ltd. (Hills) has announced the acquisition of 100 percent of the privately held shares of American engineered systems integrator John R. Wald Company, Inc. for an undisclosed sum.
Influencing Market Trend
- Rising Production and Demand of the Two Wheeler and Commercial Vehicles Globally
Market Drivers
- Increasing Tranportaion Industry in Developed and Developing Economies
- Strict regulation of Government Regarding Vehicle Registration Plate in Various Countries
Opportunities
- Growing Demand for Smart Vehicle Number Plate due to Government Norms
Restraints
- Fluctuating Raw Material Price
Key Target Audience
Vehicle Registration Plate Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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