Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Automatic License Plate Recognition Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Projected Market Size of the Automatic License Plate Recognition Industry in 2024 and 2025?
The market size for automatic license plate recognition has shown quick expansion in recent years. The market is projected to increase from $8 billion in 2024 to about $8.97 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.1%.
What Is the Projected Market Size of the Automatic License Plate Recognition Market in 2029?
The Automatic License Plate Recognition Global Market Report forecasts that by 2029, the market will have grown to $13.95 billion, with a compound annual growth rate (CAGR) of 11.7%.
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What Are the Key Drivers of Automatic License Plate Recognition Market Growth?
The key drivers in the automatic license plate recognition market are:
• Growing investments in infrastructure and regulatory requirements for vehicle identification
• Focus on traffic congestion management and increase in demand for vehicle tracking and recovery
• Emergence of 5G networks and expansion in commercial applications
• Adoption of advancements like AI, machine learning, cloud-based systems and integration with IoT and smart city solutions.
What Are the Primary Segmentation Categories in the Automatic License Plate Recognition Market?
The automatic license plate recognition market covered in this report is segmented –
1) By Product: Mobile, Fixed, Portable
2) By Application: Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management, Other Applications
3) By End-User: Government, Commercial
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What Are the Major Trends Shaping the Automatic License Plate Recognition Market in 2025 and Beyond?
The key trends in the automatic license plate recognition market are:
• The expansion of commercial applications is shaping the automatic license plate recognition market.
• Collaborations with the automotive industry is an emerging trend.
• The market is influenced by a strong focus on Artificial Intelligence and Machine Learning.
• The adoption of cloud-based systems and integration with IoT and smart city solutions are significant trends.
Who Are the Emerging Players in the Automatic License Plate Recognition Market?
Major players in the automatic license plate recognition market are:
• Siemens AG
• Neology Inc.
• Motorola Solutions
• Axis Communications
• Verint Systems Inc.
• ParkingEye Limited
• Vivotek
• Genetec Technology
• Kapsch TrafficCom
• Bosch Security Systems
• Euro Car Parks Limited (UK)
• GeoVision Inc.
• Senstar Technologies
• TagMaster AB
• Tattile S.r.l.
• NDI Recognition Systems
• Quercus Technologies
• Petards Group Plc
• Shenzhen AnShiBao
• Digital Recognition Systems Ltd.
• PlateSmart Technologies
• Sighthound
• Rekor Rank One Computing
• NEXCOM
• Flock Safety
Which Regions Are Leading the Growth in the Global Automatic License Plate Recognition Market?
North America was the largest region in the automatic license plate recognition market in 2024
