LPR Camera Market to 2026 –Global Market Size, Development Status, Top Manufacturers, and Forecasts
PUNE, INDIA, September 16, 2019 /EINPresswire.com/ --
WiseGuyReports.Com Publish a New Market Research Report On –“ LPR Camera Market to 2026 –Global Market Size, Development Status, Top Manufacturers, and Forecasts”.
Description:-
The global LPR camera market is expanding at a CAGR of 12% during the forecast period. These LPR (License Plate Recognition) cameras are used to capture letters and numbers of license plates on moving or still vehicles. A LPR camera consists of built-in hardware and software system, where the hardware system refers to the camera used to take the images and the software system is used to convert the image into alphanumerical characters. Remotes are used by the users to refocus the camera after certain time.
LPR camera are the only security cameras that guarantee an accurate recording of license plates. These cameras are installed perpendicular to the vehicle’s license plate. The cameras are kept in infrared mode or night mode to achieve the best captures throughout the day and night. Sun shields are highly used in the LPR camera, in order to protect the camera from environmental changes such as sun, air, rain, and others.
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Key Players Analysis
The industry is bit consolidated with top ten players holding market share of above 73% in 2018. Some of the key LPR camera manufacturers and vendors are COBAN Technologies Inc., ARH Inc., Vigilant Solutions Inc., 3M Co, NDI Recognitions Systems Ltd., Q-Free ASA, CA Traffic Ltd., Captec Ltd., Elsag North America LLC, ClearView Communications, DTK Software, and FLIR Systems.
Further, to increase the accuracy of the image, certain criteria are taken into considerations such as the angle of the camera, lighting conditions, vehicle speed, plate size, and distance. However, problems faced by LPR camera such as unclear images, images interfered by headlights, small size plates, and others are obstructing the growth of the market. The increasing demand for LPR camera by government bodies for security purposes is creating the opportunity for the market during the forecast period.
LPR camera market will register stable growth owing to advancement in parking management systems. Smart parking toll systems are equipped with LPR camera. Road development projects will create positive impact on sales of LPR camera globally.
By region, global LPR camera market is analyzed across North America, Europe, Middle East and Africa, and Latin America. In 2018, Europe accounted for the 38% market share. Tolls on road and bridges are very common in United Kingdom, Germany and Italy. In Europe, toll is collected across certain highways and cross border roads. Stringent regulatory compliances is expected to push the LPR camera sales so that better vigilante can be done on the roads. According to the government sources, there are over 8 thousand cameras capturing over 30 million plate numbers daily.
North America is another key destination for companies. Government in U.S. consistently push for technologically advanced security systems in order to curb any sort of menace. Stringent regulatory compliances has pushed country towards adopting range of technically advanced equipment. The same can be seen when it comes to road safety. LPR cameras has become crucial to U.S. police intelligence gathering process. Nearly 75% of the total U.S. road intelligence is gathered with the help of LPR cameras.
Asia Pacific region is anticipated to register double digit growth during the forecast period. Changing transport sector, integration of newer technology and growing need for security & surveillance will propel the growth of LPR camera in Asia pacific region. China, Japan and India are the prospective countries in the region. While Japan is already a saturated market, China and India are still at the very early stage of adopting the technology. Less than 10% of total market is penetrated in China and India. However, the region holds the highest opportunity compared to any other region globally. It is expected that China and India will register impressive growth post 2021.
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Table Of Contents – Major Key Points
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global LPR Camera Market, by Product Type
Chapter 5 Global LPR Camera Market, by Application
Chapter 6 Global LPR Camera Market, by Region
Chapter 7 Competitive Intelligence
Continued……
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