Global Vehicle Identity Recognition (VIR) Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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Enhancement of vehicle verification and classification through automation, optimization of accuracy through license plate cross-checking, security and safe city initiative promotion are some of the factors driving the market for Vehicle Identity Recognition.

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Description

Global Vehicle Identity Recognition (VIR) Market By Type (Mobile, Fixed and Portable); By Application (Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management and Others) and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030.
Product Overview
VIR (Vehicle Identification Recognition) suite of Hi-Tech solutions enables essential vehicle decision-making by extracting valuable vehicle intelligence such as car make and model, vehicle body and plate colors, country or state names, and unique symbols on the plate itself (such as handicap). This patent-pending technology combines capabilities in video editing, digital image processing, and computer vision.
Market Highlights

Global Vehicle Identity Recognition (VIR) Market size was registered at USD XX billion in 2019, and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030. Enhancement of vehicle verification and classification through automation, optimization of accuracy through license plate cross-checking, security and safe city initiative promotion are some of the factors driving the market for Vehicle Identity Recognition.
Global Vehicle Identity Recognition (VIR) Market: Segments

Global Vehicle Identity Recognition (VIR) Market is segmented on the basis of type, application and region.
By Application (in %), Global Vehicle Identity Recognition (VIR) Market, 2019
The Traffic and law enforcement segment accounted for XX% of the nation’s volume in 2019
The application segment can be classified into traffic management, law enforcement, electronic toll collection, parking management and others. Traffic and Law Enforcement segment is expected to show significant growth due to its features such as its ability to pinpoint vehicles that match pre defined characteristics, plate switching, its ability to detect speeding, matches to hotlists such as stolen vehicle databases and support in streamlining vehicle surveillance.
Global Vehicle Identity Recognition (VIR) Market Dynamics:

Optimization accuracy and various features involved with vehicle identity recognition to increase market growth

Enhancement of vehicle verification and classification through automation, optimization of accuracy through license plate cross-checking, security and safe city initiative promotion are some of the factors driving the market for vehicle identity recognition.
High installing cost to hinder the market growth for vehicle identity recognition

High costs for installation as well as the rise in prices of vehicles to act as restraining factors in the market. Additionally, high cost incurred during the designing and testing of the vehicle identity recognition is also likely to hamper the market.
Global Vehicle Identity Recognition (VIR) Market: Regions

In terms of value and volume, APAC accounted for XX% of total market volume share in 2019
It is expected that APAC will emerge as the fastest growing regional market with a high CAGR over the forecast period. Automotive companies are actively investing on research and development to reduce the cost of deployment, so that these devices are no longer confined to high-end cars and can also be mounted in low-end and mid-end vehicles. Low-end and mid-end automobiles are especially common in APAC’s developing economies. As a result, the region’s automakers are stressing the implementation of hi-tech solution applications for Vehicle Identity recognition.

The region segment can be further divided into five major types including North America, Latin America, Europe, APAC and MENA.
Global Vehicle Identity Recognition (VIR) Market: Competitive landscape

In order to broaden their product range and increase their regional presence, manufacturers are involved in product launches, developments and collaborations along with support from government regulations, which may enable acquiring firms to leverage the long-term vehicle identity recognition market.

Global Vehicle Identity Recognition (VIR) Market: Key players

• Rekor
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Siemens
• Jenoptik
• Vivotek
• Neology
• Survision
• Genetec
• Kapsch TrafficCom
• Bosch Security Systems
• Other prominent players

Global Vehicle Identity Recognition (VIR) Market report also contains analysis on:

Global Vehicle Identity Recognition (VIR) Market segments: –

• By Type:

o Mobile
o Fixed
o Portable

• By Application:

o Traffic Management
o Law Enforcement
o Electronic Toll Collection
o Parking Management
o Others

• Global Vehicle Identity Recognition (VIR) Market dynamics
• Global Vehicle Identity Recognition (VIR) Market size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Additional information

Publisher

Geography Covered

Date Published

,

Pages

Format

Table of Contents

1. Executive Summary
2. Vehicle Identity Recognition (VIR) Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Market Dynamics
5.1. Growth Drivers
5.2. Restraints
5.3. Opportunity
5.4. Trends
6. Correlation & Regression Analysis
6.1. Correlation Matrix
6.2. Regression Matrix
7. Recent Development, Policies & Regulatory Landscape
8. Risk Analysis
8.1. Demand Risk Analysis
8.2. Supply Risk Analysis
9. Vehicle Identity Recognition (VIR) Market Analysis
9.1. Porters Five Forces
9.1.1. Threat of New Entrants
9.1.2. Bargaining Power of Suppliers
9.1.3. Threat of Substitutes
9.1.4. Rivalry
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10. Vehicle Identity Recognition (VIR) Market
10.1. Market Size & forecast, 2019A-2030F
10.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
10.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11. Vehicle Identity Recognition (VIR) Market: Market Segmentation

11.1. By Regions

11.1.1. North America:(U.S. and Canada)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Vehicle Identity Recognition (VIR) Market: Market Segmentation
12.1. By type: Market Share (2020-2030F)
12.1.1. Mobile, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Fixed, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Portable, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By application : Market Share (2020-2030F)
12.2.1. Traffic Management, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. law enforcement, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.3. electronic toll collection, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.4. parking management, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.5. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1. Rekor
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Siemens
13.3. Jenoptik
13.4. Vivotek
13.5. Neology
13.6. Survision
13.7. Genetec
13.8. Kapsch TrafficCom
13.9. Bosch Security Systems
13.10. Other prominent players

14. Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.