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The Worldwide Weigh-In-Motion System Industry is Projected to Reach $1.7 Billion by 2027 at a CAGR of 10.5% from 2020
DUBLIN, April 9, 2021 /PRNewswire/ -- The "Global Weigh-In-Motion System Market by Type (In-Road, Bridge Weigh, Onboard), Vehicle Speed (Low, High), Component (Hardware, Software & Services), End-use Industry (Highway Toll, Oil & Refinery, Logistics), Sensors, Function, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global weigh-in-motion system market is projected to reach USD 1,730 million by 2027 from USD 858 million in 2020, at a CAGR of 10.5% 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, the ITS Strategic Plan 2015-2019, started by the US Department of Transportation (USDOT), focuses on intelligent vehicles, intelligent infrastructure, and the creation of intelligent transportation systems.
In the fiscal year 2020, the US Department of Transportation's Federal Highway Administration (FHWA) awarded Advanced Transportation and Congestion Management Technologies Deployment (ATCMTD) grants worth USD 49.6 million to 10 projects using advanced intelligent transportation systems (ITS) that will improve mobility and safety and support vehicle connectivity. The Virginia Department of Transportation (US) issued an order worth USD 135.9 million to construct a 6.24-mile long bypass for Rout6e 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. In FY 2020, the Regional Transportation Commission of Southern Nevada (RTC) issued an order worth USD 6 million for the Integrated Safety Technology Corridor project.
In 2015, the Government of the Netherlands announced substantial investments in 12 regions and allocated more than USD 77.7 million for ITS until 2018, which involved the use of innovative technologies for traffic management, leading to better traffic distribution. Further, the Delhi government (India) planned to invest about USD 1 billion in 2019 in intelligent traffic management systems, with an aim to renovate the existing traffic system.
ITS applications offer benefits of combining information, data processing, communication, and sensor technology and apply them to vehicles and traffic infrastructure and management software to provide a more efficient transport network. A WIM system enables intelligent use of the available transportation infrastructure and vehicles by allowing real-time information and data flow. The system collects data from sensors located in or above the infrastructure. It helps in smooth traffic flow, increases road safety by identifying overweight vehicles, and reduces road wear over a period. Thus, the growing demand for ITS all over the world is expected to drive the WIM market during the forecast period.
Globally, the traffic data collection segment is expected to be the fastest-growing segment during the forecast period
The traffic data collection system provides real-time monitoring of specific situations and road areas, such as toll highways, bridges, and underpasses, with the help of dedicated video devices. The system extracts useful information about road mobility and traffic, helps enhance road safety, and gives information to users. Thus, the traffic data collection segment is expected to be the fastest-growing segment during the forecast period.
Europe is projected to be the largest regional market
In 2020, Europe is estimated to dominate the market for weigh-in-motion systems. The region is expected to be a key revenue pocket for the weigh-in-motion market with growing investments by regional governments for transportation infrastructure development projects in national and international highways. Moreover, Europe is dominated by the high-speed weigh-in-motion system, which costs 50-60% higher than low-speed systems. Furthermore, a major reason for the European dominane of the weigh-in-motion system market is the free trade agreements between the EU countries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Introduction
3.1.1 Pre- & Post-COVID-19 Scenario
3.1.2 Report Summary
4 Premium Insights
4.1 Attractive Opportunities in the Weigh-In-Motion System Market
4.2 Weigh-In-Motion System Market Size, by Vehicle Speed
4.3 Weigh-In-Motion System Market, by Type
4.4 Weigh-In-Motion System Market, by End-use Industry
4.5 Weigh-In-Motion System Market, by Component
4.6 Weigh-In-Motion System Market, by Function
4.7 Weigh-In-Motion System Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Government Initiatives Toward Intelligent Transportation System & Increasing Public-Private Partnerships (PPPs)
5.2.1.1.1 Government Support Toward Intelligent Transportation System
5.2.1.1.2 Increasing Public-Private Partnerships (PPPs) Model
5.2.1.2 Increasing Traffic Congestion
5.2.1.3 Low Cost Compared with Static Weigh Scale
5.2.2 Restraints
5.2.2.1 Lack of Standardized & Uniform Technologies
5.2.3 Opportunities
5.2.3.1 Increasing Investment in Smart Cities
5.2.3.2 Free Trade Agreements
5.2.3.3 Onboard WIM System
5.2.4 Challenges
5.2.4.1 Data Fusion
5.2.4.2 Accuracy of Weigh-In-Motion System
6 Industry Trends in Weigh-In-Motion System Market
6.1 Introduction
6.2 Supply Chain Analysis
6.3 Porter's Five Forces
6.4 Potential Use Cases
6.4.1 Mining Industry
6.4.2 Agriculture
6.5 Patent Analysis
6.6 Trade Analysis
6.7 Weigh-In-Motion System Market Scenario
6.7.1 Realistic Scenario
6.7.2 Low Impact Scenario
6.7.3 High Impact Scenario
6.8 Decision Chain Analysis: Weigh-In-Motion System
7 Analyst's Recommendations
7.1 Europe is Estimated to Dominate the Market for Weigh-In-Motion System
7.2 High-Speed WIM Systems - Key Focus Areas
7.3 Conclusion
8 Weigh-In-Motion System Market, by Vehicle Speed
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions & Definitions
8.1.3 Industry Insights
8.2 Low-Speed
8.2.1 Low-Speed WIM System Has the Largest Market Share in WIM System Market by Vehicle Speed
8.3 High-Speed
8.3.1 High-Speed WIM is the Fastest Growing Market in WIM System Market by Vehicle Speed
9 Weigh-In-Motion System Market, by Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions & Definitions
9.1.3 Industry Insights
9.2 In-Road System
9.2.1 In-Road WIM System Has the Largest Market Share in WIM System Market by Vehicle Speed
9.3 Weigh Bridge System
9.3.1 Europe Has the Largest Market Share in Weigh Bridge System
9.4 Onboard System
9.4.1 Onboard WIM System is the Fastest Growing Market in WIM System Market by Type
10 Weigh-In-Motion System Market, by End-use Industry
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions & Definitions
10.1.3 Industry Insights
10.2 Highway Toll
10.2.1 Highway Toll Has the Largest Market Share in WIM System Market by End-use Industry
10.3 Oil & Refinery
10.3.1 Oil & Refinery is the Fastest Growing Market in WIM System Market by End-use Industry
10.4 Logistics
10.4.1 Europe Has the Largest Market Share in Logistics Segment
10.5 Others
11 Weigh-In-Motion System Market, by Component
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions & Definitions
11.1.3 Industry Insights
11.2 Hardware
11.2.1 Hardware Has the Largest Market Share in WIM System Market by Component
11.3 Software & Services
11.3.1 Software & Services is the Fastest Growing Market in WIM System Market by Component
12 Weigh-In-Motion System Market, by Sensor Type
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions & Definitions
12.1.3 Industry Insights
12.2 Image Sensor
12.2.1 Image Sensor Has the Largest Market Share in WIM System Market by Sensor Type
12.3 Piezoelectric Sensor
12.3.1 Europe Has the Largest Market Share in Piezoelectric Sensor Segment
12.4 Bending Plate
12.4.1 Asia-Pacific is the Fastest Growing Market in Bending Plate Segment
12.5 Inductive Loop
12.5.1 Europe Has the Largest Market Share in Inductive Loop Segment
12.6 Magnetic Sensor
12.6.1 North America Has the Second Largest Market Share in Magnetic Sensor Segment
12.7 Acoustic Sensor
12.7.1 Asia-Pacific is the Fastest Growing Market in Acoustic Sensor Segment
12.8 Infrared Sensor
12.8.1 Europe Has the Largest Market Share in Infrared Sensor Segment
12.9 Radar Sensor
12.9.1 North America Has the Second Largest Market Share in Magnetic Sensor Segment as of 2019
12.10 LiDAR Sensor
12.10.1 Europe Has the Largest Market Share in LiDAR Sensor Segment
12.11 Thermal Sensor
12.11.1 Asia-Pacific is the Fastest Growing Market in Thermal Sensor Segment
13 Weigh-In-Motion System Market, by Function
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions & Definitions
13.1.3 Industry Insights
13.2 Vehicle Profiling
13.2.1 Europe Has the Largest Market Share in Vehicle Profiling Segment
13.3 Axle Counting
13.3.1 Axle Counting Has the Largest Market Share in WIM System Market by Function
13.4 Weight Enforcement
13.4.1 Weight Enforcement Has the Second Largest Market Share in WIM System Market by Function
13.5 Weight-Based Toll Collection
13.5.1 Europe Has the Largest Market Share in Weight-Based Toll Collection Segment
13.6 Traffic Data Collection
13.6.1 Traffic Data Collection is the Fastest Growing Market in WIM System Market by Function
14 Weigh-In-Motion System Market, by Region
14.1 Introduction
14.2 Asia-Pacific
14.3 Europe
14.4 North America
14.5 Rest of the World (RoW)
15 Competitive Landscape
15.1 Market Evolution Framework
15.2 Overview
15.3 Market Evaluation Framework: Revenue Analysis of Top Listed/Public Players
15.4 Weigh-In-Motion System: Market Ranking Analysis
15.5 Competitive Scenario
15.5.1 Product Launches, 2018-2020
15.5.2 Deals, 2018-2020
15.5.3 Other Developments, 2018-2020
15.6 Competitive Leadership Mapping for Weigh-In-Motion System Market
15.6.1 Star
15.6.2 Emerging Leaders
15.6.3 Pervasive
15.6.4 Participants
15.7 Winners vs. Tail-Enders
15.8 Revenue Impact Analysis
16 Company Profiles
16.1 Kapsch Trafficcom
16.2 Q-Free ASA
16.3 International Road Dynamics (Quarterhill)
16.4 Mettler Toledo
16.5 Transcore (Roper Technologies)
16.6 Avery Weigh-Tronix (Illinois Tool Works)
16.7 TE Connectivity
16.8 Kistler
16.9 General Electrodynamic Corporation
16.10 Efkon GmbH
16.11 Other Players
16.11.1 North America
16.11.1.1 Intercomp
16.11.1.2 Cardinal Scale Mfg.
16.11.1.3 Roadsys
16.11.2 Europe
16.11.2.1 Cross Zlin
16.11.2.2 Kemek
16.11.2.3 Traffic Data Systems
16.11.2.4 Camea
16.11.2.5 Axis Communications
16.11.3 Asia-Pacific
16.11.3.1 Essae Digitronics
16.11.3.2 Ashbee Systems
17 Appendix
17.1 Insights of Industry Experts
17.2 Discussion Guide
17.3 Knowledge Store: The Subscription Portal
17.4 Available Customizations
17.4.1 Weigh-In-Motion System Market, by Type, by Country
17.4.1.1 In-Road System
17.4.1.2 Bridge Weigh
17.4.1.3 Onboard
17.4.2 Weigh-In-Motion System Market, by End-use Industry & Speed, by Region
17.4.2.1 Asia-Pacific
17.4.2.2 Europe
17.4.2.3 North America
17.4.2.4 RoW
For more information about this report visit https://www.researchandmarkets.com/r/jvrq2w
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