Weigh-in-Motion System Market Demand Key Growth Opportunities. Development and Forecasts to 2023-2032

The global weigh-in-motion system market was valued at USD 925.0 million in 2021 and is expected to grow at a CAGR of 10.5% during the forecast period.

Improved road safety, traffic control, identification of overloaded cars, cost savings, traffic control, and assessment are all advantages of a weigh-in-motion system. Local governments and transportation government agencies can use weigh-in-motion systems to create systematic ways to keep streets safe through constant monitoring, capturing, and enforcement methods, driving weigh-in-motion structure sales.

As vehicles pass along a measuring spot, weigh-in-motion equipment may detect and track axle and gross weight training. WIM devices can detect trucks travelling at low or average speeds and prevent them from coming to a halt. They have the potential to improve highway safety, avoid highway surface flaws, and reduce the likelihood of an accident. They are also used to collect tolls based on weight.

The wheel load is accurately measured by the weigh-in-motion method. To safeguard the road's pavement or foundation, it ensures that a heavy vehicle is removed from the roadway or sent to a weighbridge or enforcement station.

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The WIM system generates traffic data records for each vehicle, which include information about the vehicle's type, speed, axle weight, and axle spacing. This exact traffic information is used in a variety of applications, including pavement research and design, overweight enforcement, traffic data analysis and reporting, freight estimation, and traffic monitoring.

Increased public-private collaborations to achieve sustainable, secure, and productive transportation networks, as well as emerging traffic congestion, will increase demand for weigh-in-motion systems. Idaho Transportation Department awarded International Road Dynamics a USD 2.2 contract in September 2021 to implement a weigh-in-motion platform. This improvement will improve the safety and effectiveness of heavy truck screening while minimising greenhouse gas emissions and weight station parking issues.

Manufacturers are heavily spending in R&D to strengthen their position in the global market as technology progresses. They are seeking to increase the performance of weight-in-motion technology by using strain gauge sensors and fibre Bragg grating sensors. As a result, weigh-in-motion gadgets are becoming increasingly popular around the world.

Some difficulties, such as high upfront costs and onerous installation standards for nonintrusive weigh-in-motion sensors, are projected to limit market growth for weigh-in-motion systems. Because of technology advancements in the business world, the mobility of large corporate vehicles is rising at an incredible rate. To regulate traffic and check compliance requirements, a weigh-in-motion system must be implemented.

The pandemic's unexpected course makes it difficult for countries to recover the global economy, including trade and tourism, while avoiding a new wave of sickness. Several firms announced layoffs and shifted their operations to other countries.

Market Segmentation:
Component: This segment includes hardware (sensors, controllers, and others) and software (data analytics software, visualization software, and others).
Type: This segment includes in-road and bridge weigh-in-motion systems.
Vehicle speed: This segment includes low-speed and high-speed weigh-in-motion systems.
Application: This segment includes commercial vehicle enforcement, traffic data collection, weight-based toll collection, and others.
End-use industry: This segment includes transportation and logistics, government, and others.
Region: The market can be segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Competitive Landscape:
The global weigh-in-motion system market is highly competitive and fragmented.

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The key players operating in the market include:

Kistler Group
TE Connectivity
International Road Dynamics Inc.
Avery Weigh-Tronix LLC
Q-Free ASA
TransCore LP
Siemens AG
Kapsch TrafficCom AG
Mettler-Toledo International Inc.
Axis Communications AB

These companies focus on developing innovative products and technologies to cater to the growing demand for weigh-in-motion systems. They also emphasize on strategic partnerships, collaborations, and acquisitions to expand their market share and increase their revenue. Additionally, the market players are investing heavily in R&D activities to enhance their product offerings and provide solutions that can effectively address the challenges associated with weigh-in-motion systems.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter's five forces analysis
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