PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485887
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485887
Weigh-in-Motion System Market size was valued at USD 1,245.34 Million in 2023, expanding at a CAGR of 9.8% from 2024 to 2032.
The weight, length, speed, and class of the moving vehicle are all recorded using a weigh-in-motion (WIM) device. Compared to traditional static weight scales, weigh-in-motion scales have several advantages. It lowers operation time, maintenance needs, and expenses by weighing moving cars and promoting a smooth traffic flow. Weigh-in-motion system has emerged as a valuable technology for intelligent transportation systems (ITS). Each vehicle's type, speed, axle load, and spacing are recorded for each vehicle. Applications such as freight calculation, virtual traffic monitoring, overweight enforcement, pavement analysis and design, and real-time traffic data analysis and reporting all make use of this comprehensive traffic data. Public-private partnerships, traffic congestion, and growing government initiatives for intelligent transportation systems are driving the weigh-in-motion system market.
Weigh-in-Motion System Market- Market Dynamics
Governmental Efforts to Enhance Public-private Collaborations and to Develop Intelligent Transportation Systems to Propel Market Demand
The governments of several nations, including the U.S., China, Japan, and many European nations, have established a roadmap for intelligent transportation infrastructure, which includes installing weigh-in-motion systems for vehicle data collection, weight enforcement, and weight-based tolling on highways and other roads. The goal of this infrastructure is to make transportation safer, more efficient, and sustainable. For instance, the U.S. Department of Transportation (USDOT) initiated the ITS Strategic Plan 2022-2026, which focuses on intelligent infrastructure, intelligent vehicles, and the development of intelligent transportation systems (ITS). In addition, for a quicker implementation, public-private partnerships are being considered. For instance, in September 2022, the Indian Union Ministry of Road Transport and Highways welcomed US-based companies to participate in public-private partnerships (PPPs) for the development of national highways. These partnerships resulted in the purchase of USD 720 million in foreign direct investments. A more effective transportation network can be created by utilizing the advantages of ITS applications, which use information, data processing, communication, and sensor technologies for cars, traffic infrastructure, and management software. Through real-time information and data flow, a weigh-in-motion system facilitates intelligent utilization of the available vehicles and transportation infrastructure. The sensors within or on top of the infrastructure provide data to the system. It improves road safety by recognizing overweight vehicles, eases traffic flow, and lessens wear on the pavement. Thus, it is anticipated that the weigh-in-motion system market will be driven in the forecast period by the increasing need for ITS globally.
Weigh-in-Motion System Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 9.8% over the forecast period (2024-2032)
Based on component segmentation, the software & services category was predicted to show maximum market share in the year 2023
Based on vehicle speed segmentation, the high-speed (<15 km/h) category was the leading type in 2023
Based on technology segmentation, the piezoelectric sensor technology category was the leading type in 2023
Based on application segmentation, the traffic data collection category was the leading type in 2023
Based on end-use industry segmentation, the highway toll & road safety category was the leading type in 2023
Based on region, Europe was the leading revenue generator in 2023
The Global Weigh-in-Motion System Market is segmented based on Component, Vehicle Speed, Installation Method, Technology, Application, End-Use Industry, and Region.
The market is divided into two categories based on vehicle speed: Low-speed (<15 km/h) and High-speed (>15 km/h). The high-speed (<15 km/h) category dominates the market because it provides fast, dependable, and accurate weight measurement capabilities. Vehicles no longer need to stop at weigh stations or checkpoints because these cutting-edge devices are made to measure a vehicle's weight while it is moving precisely. High-speed WiM systems use sophisticated algorithms and cutting-edge sensor technology to offer real-time weight data, making it easier for authorities to keep an eye on vehicle loads and enforce weight rules. Furthermore, as these technologies become widely used, transportation management techniques will be completely transformed, allowing for smooth traffic flow and an increase in general road safety.
The market is divided into the following categories based on technology: Load Cell Technology, Bending Plate Technology, Piezoelectric Sensor Technology, and Other Technologies. The piezoelectric sensor technology category dominates the market and is likely to maintain its dominance during the forecast period. Compared to other systems, piezoelectric sensors have a more straightforward and portable structure. Additional advantages encompass a wider measurement system range and a shallower road implementation depth. Piezoelectric sensors are required in weigh-in-motion applications worldwide because of their advantages over other sensors. The shape of piezoelectric polymer sensors is usually that of a lengthy cable or tape that is encased in a large block of elastomeric material. These blocks are placed in pavement grooves that are cut perpendicular to the direction of traffic flow.
Weigh-in-Motion System Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
With the largest market share, the weight-in-motion system market in the European Union is anticipated to continue growing throughout the projected period. In recent years, there have been significant advancements in the European Weight in Motion industry. WIM sensors are now more widely used for overloading enforcement due to advancements in software and hardware. Hardware improvements have increased the durability of WIM sensors, while new calculation algorithms for multiple sensors (MS-WIM) and bridge WIM (B-WIM) have been developed. Furthermore, traffic management can also be done with a weigh-in-motion system.
Asia Pacific is anticipated to develop at the fastest rate in terms of value throughout the projection period. The growth of megacities and population expansion in both developed and developing countries has led to an increase in the usage of weigh-in-motion systems and different traffic sensors throughout the Asia Pacific region. Many of the nations in the area are realising the benefits of weigh-in-motion systems and traffic sensors as efficient traffic solutions for automated toll collection, vehicle detection, traffic control, and traffic management. As the need to replace and update the present traditional transport infrastructure grows, the Asia Pacific area is home to a huge number of ongoing traffic management projects.
Prominent industry participants such as Axis Communications Corporation, EFKON Inc., International Road Dynamics Inc., FLIR Systems Incorporation, and others utilize diverse tactics to sustain their advantage and increase their portion of the market. Enhancing the precision, dependability, and effectiveness of Weigh in Motion systems is the main goal of ongoing innovation in product development. Improved data processing techniques, the creation of user-friendly interfaces, and the integration of cutting-edge sensor technology are frequently included in these developments. Major players can also reach new markets, grow their clientele, and make use of complementary skills through strategic alliances and partnerships with government organizations, technology companies, and transportation authorities.
January 2024: In an announcement, Kapsch TrafficCom stated that it will improve work zone safety on German roads by utilizing cooperative Intelligent Transport Systems (C-ITS). The agreement with Germany's highway network operator, Autobahn, for €7 million has the potential to grow to €36 million.
April 2022: With the introduction of TruckPass, a single-draft weigh-in-motion scale from Mettler Toledo, in-motion solutions may now achieve accuracy levels that are acceptable for trade. The U.S. has updated its standards for Specifications, Tolerances, and Other Technical Requirements for Weighing and Measuring Devices, so businesses there can now take advantage of this technology, which will increase productivity, lower emissions, and improve operations with the integration of DataBridge Transaction Management Software.
GLOBAL WEIGH-IN-MOTION SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Tronix Inc.
Axis Communications Corporation
EFKON Inc.
Kistler
FLIR Systems Incorporation
Image Sensing Systems Intercomp
Kapsch TrafficCom AG
Roadsys Inc.
SICK PLC
International Road Dynamics Inc
Reno A&E
Raytheon Corp.
LeddarTech Incorporation
Siemens AG
Sensys Networks SWARCO
TE Connectivity
Others