Global Car Plate Recognition (CPR) Market Trends and Forecast: Growing at a CAGR of 10.38% from 2024 to 2029

Global Car Plate Recognition (CPR) Market Overview

According to Global Market Monitor, the global car plate recognition (CPR) market size is $1809.25 million in 2024 with a CAGR of 10.38% from 2024 to 2029.

A license plate recognition system is a computer vision technology used to recognize vehicle license plates automatically. Through the analysis and processing of vehicle images, it can accurately extract and recognize the characters of vehicle license plates, to realize the automatic recognition and management of vehicles, and is widely used in traffic management, vehicle monitoring, parking lot management, and other fields. It can use existing CCTV, road enforcement cameras or cameras specifically designed for the task of reading license plates. The technology has been adopted by most traffic police around the world today for enforcement, including checking whether a vehicle is registered or licensed, and also for electronic tolls on pay-per-view roads as a way to classify traffic activities, such as highway departments, to determine if a vehicle is legally licensed.

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 the early LPR system is low, which is lower than the actual system requirement. They are also expensive to install. External influences and limited levels of recognition software and visual hardware lead to a deterioration in system quality.

Integration with AI technology

With the rapid development of artificial intelligence (AI) and computer vision technology, AI license plate recognition technology, as an important part of intelligent transportation systems, is gradually deeply integrated with video technology, bringing revolutionary changes to urban traffic management, parking lot management, traffic monitoring, and other fields. AI license plate recognition technology, as an application of computer video image recognition technology in the field of license plate recognition, realizes the accurate recognition of license plate numbers through image preprocessing, target feature extraction, character recognition, and other steps. This technology requires not only high precision but also fast response and strong robustness to cope with complex and changing traffic environments. The application of this technology not only improves the efficiency and intelligence of traffic management but also brings more convenience and safety to people's lives.

Intelligent parking lot management	Combined with AI license plate recognition technology, rapid entry and exit of vehicles in parking lots and automatic billing are realized, greatly improving traffic efficiency.
Traffic monitoring and law enforcement	AI license plate recognition technology is used to monitor vehicle information in real-time, capture and record violations on urban traffic arteries, and provide evidence for traffic law enforcement.
Community vehicle access management	Automatically identify and record the license plate number and time of vehicles entering and leaving the community to improve the level of community safety management.

Table: Application Cases

For more industry information, please refer to our latest released "2023 Global Car Plate Recognition (CPR) Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".