Global Car Plate Recognition (CPR) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Car Plate Recognition (CPR) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

It is a technology that USES optical character recognition (OCR) to read vehicle license plate information in the image to establish vehicle location information, and USES OCR to read vehicle license plate in the image to create vehicle location data. It can read license plates using existing closed-circuit television, road enforcement cameras or cameras specifically designed for the mission. It can be used to store images captured by the camera as well as text in license plates, some of which can be configured to store driver photos. The system usually USES infrared lighting to allow the camera to take pictures at any time of day or night. Most traffic police around the world today have adopted this technology for law enforcement purposes, including checking whether vehicles are registered or licensed. It is also used for electronic tolls on pay-per-use roads as a way of classifying traffic activities, for example through the highway sector. To determine if the vehicle is legally licensed.

Market Overview:

The latest research study on the global Car Plate Recognition (CPR) market finds that the global Car Plate Recognition (CPR) market reached a value of USD 1476.91 million in 2022. It’s expected that the market will achieve USD 2641.94 million by 2028, exhibiting a CAGR of 10.18% during the forecast period.

Influence of COVID-19 Outbreak on Car Plate Recognition (CPR) Industry Development

The impact of the COVID-19 outbreak on Car Plate Recognition (CPR) will involve the normal operation of the industry. The company's management efficiency declined, commuting was severely disrupted, production plans were severely disrupted, network expansion was delayed, marketing was delayed, brands were forced to adjust, marketing sales fell, and revenue for the company and its employees fell. The government has also put forward higher requirements for the production and operation of enterprises. Although the global industries are gradually returning to work, but production and demand will not pick up quickly and substantially, need a certain period of recovery.
With the end of the Spring Festival holiday, many citizens choose private
cars as the main way to travel, to reduce the possibility of being exposed to infection when necessary travel and the coming return to work. In order to effectively prevent the spread of COVID-19 and ensure the safety and health of the people, key areas have actively carried out epidemic prevention and control work to cope with the rework wave
Establish quarantine stations in the entry and exit corridors to register and inspect passing vehicles and personnel. To ensure the adaptability and application efficiency of license plate recognition technology in epidemic detection and registration. With the end of the Spring Festival holiday, many citizens choose private cars as the main way to travel, to reduce the possibility of being exposed to infection when necessary travel and the coming return to work. In order to effectively prevent the spread of COVID-19 and ensure the safety and health of the people, key areas have actively carried out epidemic prevention and control work to cope with the rework wave

There has been a gradual increase in the demand for vehicle identification technology, and quarantine stations have been set up in the entry and exit corridors to register and inspect passing vehicles and personnel. To ensure the adaptability and application efficiency of license plate recognition technology in epidemic detection and registration.

Limitations

In some cases, bad weather and obstacles can prevent automatic license plate recognition systems from being fully effective. When this happens, security may be turned off and more human monitoring will be required.
The fact that images and records are retained and stored raises some privacy issues. People often worry that the information recorded in all these lenses could be misused. It can be the subject of data theft or various malicious purposes. Responsible agencies should consider these privacy issues to ensure that people feel safer on the road, rather than taking greater risks.
The recognition rate of early LPR system is low, which is lower than the requirement of actual system. They are also expensive to install. External influences and limited levels of recognition software and visual hardware lead to a deterioration in system quality. And media coverage of incorrect identities and high error rates. This gave the LPR system, which is still emerging today, a bad name.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Bosch Security Systems, Inc, Siemens, ARH with the revenue market share of 8.98%, 7.38% and 6.57% in 2020.

Bosch Security Systems, Inc. designs, manufactures, and markets electronic detection, control, and communication equipment. The Company offers security, fire protection, access control, and closed-circuit television components and systems. Bosch Security.

Siemens Public Limited Company provides automation equipment. The Company offers solutions in the fields of production, transportation, building systems, information technology, energy generation, transmission and distribution, and imaging technology. Siemens serves the energy, manufacturing, and healthcare industries worldwide.

Segmentation Overview:

Among different product types, Fixed segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Traffic Management segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Car Plate Recognition (CPR) market covered in Chapter 3:

HTS
Tattile
Vysionics
Genetec, Inc
Bosch Security Systems,Inc
Vigilant Solutions
TitanHz
Q-Free ASA
TagMaster AB
NEXCOM
LILIN
Vaxtor Technologies
ClearView Communications
ELSAG North America LLC
Viion Systems Inc
ARH
PIPS Technology
Kapsch TrafficCom
NDI Recognition Systems
Siemens

In Chapter 4 and Chapter 14.2, on the basis of types, the Car Plate Recognition (CPR) market from 2018 to 2029 is primarily split into:

Fixed
Mobile

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Car Plate Recognition (CPR) market from 2018 to 2029 covers:

Traffic Management
Parking

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)