Global Weigh-In-Motion System Market is valued approximately at USD 0.85 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 10.5% over the forecast period 2021-2027. Weigh-in-motion devices track axle weights and gross weights as vehicles travel over a measurement site. WIM systems can detect cars travelling at low or average speeds and prevent them from stopping. They have the potential to increase roadway safety, avoid road surface degradation, and reduce the likelihood of an accident. They are also utilized to collect tolls based on weight. Heavy-duty vehicles have a variety of effects on infrastructure. Heavy-duty trucks that are overloaded might harm the roads. The weigh-in motion system assists in preventing overweight trucks from accessing the roadways, reducing road wear and tear. Highways with an increase in heavy-duty vehicle traffic are more vulnerable to damage than other highways. Furthermore, the market is driven by the increasing Public-Private Partnerships (PPPs) model and increasing government initiatives toward intelligent transportation system. With the rise in worldwide vehicle sales, traffic congestion has become one of the most significant matters, particularly at toll plazas, and it is anticipated to increase in the future. According to the USDOT, congestion charges have been increasing at an annual pace of 8% in the United States. According to a survey issued by transportation analytics firm Inrix in 2017, drivers in Los Angeles spent an average of 102 hours stuck in a traffic jam last year, followed by Moscow with 91 hours lost to traffic, and London and Paris with 74 and 69 hours lost to congestion, respectively. Thus, increases in technologies reduce the risk of traffic congestion in the upcoming years. However, Lack of standardized & uniform technologies may impede market growth over the forecast period of 2021-2027.
Geographically, Europe is dominating the Weight in motion system market owing to increased freight traffic and free movement of products in countries such as Germany and France. Furthermore, increased traffic in national and international highways in toll plazas also propel the market growth in the region. However, the Asia Pacific WIM system market is anticipated to be the fastest growing market, as smart traffic management and smart cities in China and India, in particular, have increased investment in smart transportation systems.
Major market player included in this report are:
General Electrodynamics Corporation
International Road Dynamics
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Speed:
Software & Services
By End use industry:
Oil & Refinery
Other end use industries
Weight-based Toll Collection
Traffic Data Collection
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Weigh-In-Motion System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers