Global LPR Cameras Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global LPR Cameras Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

License plate recognition (LPR) cameras are specialized surveillance units designed to detect, capture and log vehicle license plates. LPR cameras are designed with built-in software and hardware that compensates for speed, weather, and headlight glare. Regular security cameras typically can not compensate for these variables to capture a usable video that identifies license plate numbers.

Market Overview:

The latest research study on the global LPR Cameras market finds that the global LPR Cameras market reached a value of USD 1135.93 million in 2022. It’s expected that the market will achieve USD 1736.51 million by 2028, exhibiting a CAGR of 7.33% during the forecast period.

Influence of Regional Conflicts on the LPR Cameras Industry

The political relationship between countries is an important factor to determine the economic and trade exchanges between countries, especially the war or military conflict between countries will have a negative impact on trade, and even reduce long-term trade and investment, which is a general consensus of people. In today's peaceful times, there are still political conflicts and frictions between countries, but their intensity is often less than that of the two sides going to war. Whether the deterioration or improvement of the relations between the two countries will still bring about trade changes, and what the possible influence channels are, has become a topic of concern to many researchers. The establishment of diplomatic relations, state (regional) visits, continuous conflicts, and specific conflicts will all have an impact on national trade.

In recent years, the safe and stable operation of the global industrial chain supply chain has been greatly impacted by multiple factors such as anti-globalization, the rise of trade protectionism and the COVID-19 epidemic. The Russian-Ukrainian conflict has dealt a new blow to the already battered global industrial chain supply chain, and the recovery of the world economy is facing more severe and complicated challenges and more uncertainties.

Russia and Ukraine, as important suppliers of global energy, industrial raw materials and agricultural products, and important transport channels connecting Eurasia, are important participants in major global industries. The Russian-Ukrainian conflict and the resulting economic sanctions have brought greater storms to the already unstable global industrial chain supply chain.

This kind of influence can be discussed from short-term and medium-long-term dimensions. In the short term, the impact of the Russian-Ukrainian conflict on the global industrial chain supply chain is highlighted by the shortage of raw materials, the shortage of parts and components, and the logistics congestion.

LPR Cameras Market Drivers Analysis

As an important means of traffic management automation and an important link of vehicle detection system, vehicle license plate recognition technology plays an important role in traffic monitoring and control. LPR Cameras can be widely used in important occasions that need license plate authentication, such as electronic toll station of expressway, access control, highway flow monitoring, inquiry of stolen vehicles, vehicle management in parking lot, highway inspection, electronic police monitoring illegal vehicles, etc., especially in expressway toll system based on license plate recognition technology. Compared with radio frequency card and other technologies, LPR Cameras can realize non-stop toll collection and improve the operating efficiency of highway system.

LPR Cameras Market Restraints and Challenges

The recognition ability of the license plate recognition camera in bad weather will be tested, for example: the visibility of rain and fog weather is low, so the quality of the license plate image obtained will be seriously degraded. Then the image restoration function in rainy and foggy license plate recognition processing plays a great role in the reproduction of degraded image scenes in rainy and foggy days. Its scientific name is the image restoration algorithm. Only the core algorithm of the license plate recognition camera is fully optimized to ensure imaging and
Recognition rate.
Some of the poorer license plates, such as defaced license plates, deformed license plates, sticky license plates and tilted license plates, will also cause certain difficulties to the license plate recognition camera. The continuous improvement and strengthening of the license plate recognition algorithm will be difficult for complex and diverse special environments. Actively responding to recognition problems, one by one, to ensure the recognition rate and stability of the license plate recognition system.

Region Overview:

United States had the highest growth rate of all regions.

Company Overview:

The top three companies are Hikvision, Bosch, Dahua with the revenue market share of 19.43%,
18.57%, 11.84% in 2021.
Hikvision is a world leading IoT solution provider with video as its core competency. Featuring an extensive and highly skilled R&D workforce, Hikvision manufactures a full suite of comprehensive products and solutions for a broad range of vertical markets. In addition to the security industry, Hikvision extends its reach to smart home tech, industrial automation, and automotive electronics industries to achieve its long-term vision. Hikvision products also provide powerful business intelligence for end users, which can enable more efficient operations and greater commercial success.
The Bosch Group is a leading global supplier of technology and services. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.
As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group's strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is Invented for life.

Segmentation Overview:

Among different product types, Fixed LPR Camera segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Traffic Management segment occupied the biggest share from 2017 to 2022.

Key Companies in the global LPR Cameras market covered in Chapter 3:

MAV Systems
Neology (3M)
TagMaster
Clearview Communications
Digital Watchdog
ARH
MESSOA Technologies
Digital Recognition Systems
Tattile
Speco Technologies
Arvoo Imaging Products
Motorola Solutions
Kapsch TrafficCom
Hikvision
Dahua
Genetec
Siemens
Bosch
NDI Recognition Systems
Elsag
NEXCOM
Vivotek
GeoVision

In Chapter 4 and Chapter 14.2, on the basis of types, the LPR Cameras market from 2018 to 2029 is primarily split into:

Mobile LPR Camera
Fixed LPR Camera
Portable LPR Camera

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the LPR Cameras market from 2018 to 2029 covers:

Traffic Management
Law Enforcement
Electronic Toll Collection
Parking Management
Others

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)