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Global Vehicle License Plate Market 2018-2022| Key Insights and Forecasts| Technavio

November 27, 2018

LONDON--(BUSINESS WIRE)--Nov 27, 2018--The global vehicle license plate market is expected to post a CAGR of over 4% during the period 2018-2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

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Technavio has released a new market research report on the global vehicle license plate market for the period 2018-2022 (Graphic: Business Wire)

A key factor driving the growth of the market is the increasing vehicle registrations year-on-year. Demand for passenger cars and commercial vehicles are growing in emerging countries such as Brazil, China, and India owing to the elevated purchasing power of consumers and significant economic growth. Factors such as the ongoing industrialization and global trade activity can be attributed to this growth.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights digital license plates as one of the key emerging trends in the global vehicle license plate market:

Global vehicle license plate market: Digital license plates

The automotive industry has evolved with autonomous vehicles and even flying cars entering the market. The only element that has remained almost unchanged over the last century is the license plates. However, the license plates are undergoing a major transformation.

“Companies such as ReviverMx launched Reviver license plate, which has the appearance of a Kindle tablet. rPlate has wireless connectivity, which can instantly update the vehicle registration, which would make updating of license plate stickers obsolete. rPlate can also be programmed to connect with smart parking apps. Services such as tolls and parking fines can also be instantly deducted from the vehicle’s owner,” says a senior analyst at Technavio for research on automotive components.

Global vehicle license plate market: Segmentation analysis

This market research report segments the global vehicle license plate market by application (passenger cars and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).

The passenger cars segment held the largest market share in 2017, accounting for over 77% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 54%. This region is expected to dominate the market through 2022, with over 1% increase in market share.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005703/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING ENGINEERING OTHER MANUFACTURING AUTOMOTIVE OTHER AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/27/2018 12:39 PM/DISC: 11/27/2018 12:39 PM

http://www.businesswire.com/news/home/20181127005703/en

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