Comprehensive Study of Global Weigh-In-Motion System Market Growth and Anticipated Future Demand from 2023-2029

"𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐭𝐨𝐰𝐚𝐫𝐝 𝐢𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐭 𝐭𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐬𝐲𝐬𝐭𝐞𝐦𝐬 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐝𝐫𝐢𝐯𝐞 𝐭𝐡𝐞 𝐰𝐞𝐢𝐠𝐡-𝐢𝐧-𝐦𝐨𝐭𝐢𝐨𝐧 𝐬𝐲𝐬𝐭𝐞𝐦 𝐦𝐚𝐫𝐤𝐞𝐭 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝."

🔥 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 + 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐓𝐎𝐂 ➡️ https://www.reportsnreports.com/contacts/requestsample.aspx?name=2178261

🌟 𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
🟢 Avery Weigh-Tronix (US)
🟢 Mettler Toledo (US)
🟢 Kistler Instruments AG (Switzerland)
🟢 International Road Dynamics Inc. (Canada)
🟢 Q-Free ASA (Norway)

The weigh-in-motion system market is projected to reach USD 1.8 billion by 2027 from USD 1.1 billion in 2022, at a CAGR of 10.0% during the forecast period.To make transportation safe, more efficient, and sustainable, the governments of various countries, such as the US, China, Japan, and many European countries, have defined a roadmap for intelligent transportation infrastructure. For instance, ITS Strategic Plan 2022-2026, started by the US Department of Transportation (USDOT), focuses on intelligent vehicles, intelligent infrastructure, and the creation of intelligent transportation systems (ITS).

In 2022, the US Department of Transportation's Federal Highway Administration (FHWA) awarded Advanced Transportation and Congestion Management Technologies Deployment (ATCMTD) grants worth USD 49.2 million to 10 projects using advanced ITS to improve mobility and safety and support vehicle connectivity. It also awarded USD 18.4 million as a part of Bridge Planning grants to 23 projects to incorporate bridge safety measures such as overloaded vehicle alerts and others. The Virginia Department of Transportation (US) issued an order worth USD 135.9 million to construct a 6.24-mile long bypass for Route 29 in Charlottesville (US) and Albemarle County (US). It planned to install an ITS and traffic control devices on the 6.24-mile-long bypass.

To create a more effective transportation network, ITS applications combine the advantages of information, data processing, communication, and sensor technology. They then apply these technologies to vehicles, traffic infrastructure, and management software. By permitting real-time information and data flow, a WIM system enables intelligent utilization of the transportation infrastructure and vehicles currently in use. The system gathers information using sensors set up inside or above the infrastructure. Recognizing overweight vehicles improves road safety, facilitates smooth traffic flow, and over time, reduces road wear. Consequently, it is anticipated that the WIM market would be driven throughout the forecast period by the rising demand for ITS around the world.

"Globally, the traffic data collection segment is expected to register the fastest growth during the forecast period."

With the use of specialized imaging equipment, the traffic data gathering system offers real-time surveillance of certain circumstances and road regions, such as toll roads, bridges, and underpasses. The system gathers essential data on traffic mobility, aids in improving road safety, and provides users with information. The data may also be used to schedule a timely repair, reduce total spending on road maintenance, and improve the state of the roads through predictive analysis of the wear of the infrastructure. As a result, it is anticipated that over the forecast period, the segment of traffic data collection would be the fastest growing in the weigh-in motion market.

Europe is estimated to have the highest demand for weigh-in motion systems.

According to estimates, Europe will dominate the weigh-in-motion market system by value in 2022. With increasing expenditures by regional governments for transportation infrastructure development projects on national and international roads, the region is anticipated to be a key revenue pocket for the weigh-in-motion market. Furthermore, the high-speed weigh-in-motion system, which costs 50-60% more than low-speed systems, dominates Europe. Additionally, the free trade agreements between the EU member states have a significant role in Europe's domination of the weigh-in-motion system market.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.

By Company Type: OEMs - 45%, Component manufacturers - 35%, System Integrators and Others - 20%
By Designation: C Level - 40%, Directors- 35%, and Others - 25%
By Region: Asia Pacific - 28%, Europe - 34%, North America -30%, RoW - 8%

➡️ 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=2178261

Research Coverage:

The study segments the weigh-in-motison system market and forecasts the market size based on End-use Industry (Highway Toll & Road Safety, Oil & Refinery, Logistics, and Other End-use Industries), Component (Hardware and Software & Services), Weighing Technology (Load Cell Technology, Bending Plate Technology, Piezoelectric Sensor Technology, and Other Technologies), Application (Vehicle Profiling, Axle Counting, Weight Enforcement, Weight-based Toll Collection, Bridge Protection, and Traffic Data Collection), Installation Method (In-road, Weigh Bridge, and Onboard), Vehicle Speed [Low-speed (< 15 km/h) and High-speed (>15 km/h)], and Region (North America, Europe, Asia Pacific, and the Rest of the World (RoW)).

The study also includes an in-depth competitive analysis of the major weigh-in-motion system manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

This release was published on openPR.