Research Expert: Sarah Overall
  • Published: Mar 2025
  • Pages: 150
  • SKU: IRTNTR74229

  • Latest News- Vehicle License Plate Market: OEM is expected to lead the Distribution Channel segment during 2025-2029

    The Vehicle License Plate Market is being driven by Rising standardization of license plate sizes

    The Vehicle License Plate Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 438.3 million. RFID technology has revolutionized the vehicle licensing industry by enabling the integration of electronic license plates. Previously, RFID tags were affixed to windshields for toll collection, but now, these tags are embedded within the plates themselves. This innovation offers numerous benefits, including tamper-proof registration and identification, enhanced traffic management, and streamlined access control. With RFID-enabled plates, vehicles can pass through toll booths and parking facilities without halting, resulting in increased efficiency and reduced congestion. The contactless identification process ensures swift and accurate toll collection, making it a game-changer for transportation infrastructure. 

    Get more information on Vehicle License Plate Market by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • Distribution Channel
      • OEM
      • Aftermarket
    • Vehicle Type
      • PC
      • LCV
      • HCV
      • Electric vehicles
    • Material
      • Aluminum
      • Steel
    • Geography
      • APAC
        • China
        • India
        • Japan
        • South Korea
      • Europe
        • Germany
        • UK
        • France
      • North America
        • Canada
        • US
      • South America
        • Middle East and Africa

        According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

        • Rising standardization of license plate sizes
        • Increasing vehicle registrations year-on-year
        • Mandating high-security registration plates in high-volume markets

        However, the market also witnesses some limitations, which are as follows:

        • Restrictions on issuing license plates
        • Risks associated with technologically advanced license plates
        • Growing tampering and cloning of license plates

        Benefits of Buying Global Vehicle License Plate Market Research Report by Technavio

        Rich Experience: 20+ years leading global market research, trusted insights across industries.

        Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

        Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

        Market Scope in Vehicle License Plate Market Research Report

        Market Scope

        Report Coverage

        Details

        Page number

        218

        Base year

        2024

        Historic period

        2019-2023

        Forecast period

        2025-2029

        Growth momentum & CAGR

        Accelerate at a CAGR of 9%

        Market growth 2025-2029

        USD 438.3 million

        Market structure

        market_structure.ucfirst

        YoY growth 2024-2025(%)

        8.0

        Key countries

        US, China, Japan, India, Germany, Canada, South Korea, UK, France, and Australia

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

        Request Free Sample

        Find out which segment is leading the market by accessing the free PDF report

        Research Analysis Overview

        In the realm of transportation systems, license plates are essential identification tags for vehicles. They come in various forms such as Aluminum and Plastic, used for Motor Cycles and Passenger Cars alike. Registration information is embedded, enabling vehicle identification during Vehicle Sales and Registration. Digital plates are emerging, integrating AI and Machine Learning for efficient Traffic Management. OEMs produce these plates from Raw Materials, catering to Level 4 Autonomous Vehicles and Traditional vehicles. Vehicle Production relies on these plates for ID purposes, contributing to effective Traffic Management and Regulation.

        Market Research Overview

        The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers in the automotive components and equipment industry include the surge in electronic components utilization: the escalating sales of EVs, motorcycles, and PCs have significantly boosted the demand for electronic control units (ECUs) and other electrical components over the past decade.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


        Contacts

        Technavio Research
        Jesse Maida
        Media & Marketing Executive
        US: +1 844 364 1100
        UK: +44 203 893 3200
        Email: media@technavio.com
        Website: www.technavio.com/

        Read News Read Less
        Interested in this report?
        Get your sample now!

      Safe and Secure SSL Encrypted

      Technavio

      • 2500 USD

      [5 reports/month/user]

      • 5000 USD

      close
      • Basic Plan [5000 USD/Year]:

        Single User
        Download 5 Reports/Month
        View 100 Reports/Month
        Add upto 3 Users at 625 USD/user

      • Teams Plan [7500 USD/Year]:

        5 User
        Download 5 Reports/Month/User
        View 100 Reports/Month/User
        Add upto 30 Users at 500 USD/user

      *You can upgrade to Teams plan at Subscription page

      close
      • Single:

        One user only.
        Quick & easy download option

      • Enterprise:

        Unlimited user access (Within your organization).
        Complimentary Customization Included

      *For Enterprise license, go to checkout page

      Technavio Get the report (PDF) sent to your email within minutes.