Global Vehicle License Plate Market 2024-2028
The vehicle license plate market is forecasted to grow by USD 261.02 mn during 2023-2028, accelerating at a CAGR of 7.33% during the forecast period. The report on the vehicle license plate market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising standardization of license plate sizes, increasing vehicle registrations year-on-year, and mandating high-security registration plates in high-volume markets.
Technavio's vehicle license plate market is segmented as below:
By Distribution Channel
By Vehicle Type
- PC
- LCV
- HCV
- Electric vehicles
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the RFID-based license plates gaining traction as one of the prime reasons driving the vehicle license plate market growth during the next few years. Also, the high adoption of digital license plates and innovations in automated and highly secure license plate manufacturing processes will lead to sizable demand in the market.
The report on the vehicle license plate market covers the following areas:
- Vehicle license plate market sizing
- Vehicle license plate market forecast
- Vehicle license plate market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading vehicle license plate market vendors that include 3M Co., Asahi Kasei Corp., EHA Hoffmann International GmBH, Erich Utsch AG, Fuwong License Plate, GibPlates, Godawari Techno Solution Pvt. Ltd., Hills Numberplates Ltd., Jepson and Co. Ltd., LC Security Equipment Co. Ltd., Muschard Schildertechnik, ORBIZ, ReviverMx Inc., Rosmerta Technologies Ltd, SPM Systems Sp. zo.o. Sp. k., The Waldale Irwin Hodson Group, TONNJES E.A.S.T. INFRASTRUKTUR INVEST GmbH, UTAL Sp. z o.o, Yarya Sekur, and Bestplate Ltd. Also, the vehicle license plate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.