|
|
(Transportation-News.com, April 21, 2020 ) The Weigh-In-Motion System Market is estimated to be USD 913 million in 2019 and is projected to reach USD 1,656 million by 2026, at a CAGR of 8.9%.
Factors such as the growing traffic congestion, increasing public-private partnerships (PPPs) & government focus towards intelligent transportation systems (ITS) and economic systems compared with static weigh systems are projected to drive the weigh-in-motion system market.
Some of the key players in the weigh-in-motion system market are Kapsch TrafficCom (Austria), Q-Free (Norway), METTLER TOLEDO (US), Avery Weigh-Tronix (Illinois Tool Works) (US), TE Connectivity (Switzerland), International Road Dynamics (Quarterhill) (US), Kistler (Switzerland), TransCore (Roper Technologies) (US), Axis Communications (Sweden), and EFKON (Austria).
Opportunities:
• Increasing Investment in Smart Cities
• Free Trade Agreements
• Onboard WIM System
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=242065043
The highway toll segment is estimated to be the largest weigh-in-motion system market by end-use industry during the forecast period
Most of the highway tolls are equipped with high-speed weigh-in-motion systems as they help in detecting overweight vehicles without hampering the traffic flow. However, regions such as the Asia Pacific and North America are equipped with low-speed weigh-in-motion systems because of its low cost and regulatory issues. On the other hand, highway tolls in Europe are equipped with high-speed weigh-in-motion systems due to increasing freight traffic and free movement of goods across the European countries. The highway toll segment is expected to dominate the weigh-in-motion system market during the forecast period. Weigh-in-motion systems are mostly used in highway tolls to reduce traffic congestion and detect overweight vehicles.
The hardware segment is expected to be the largest segment in the weigh-in-motion system market, by component, during the forecast period.
The hardware segment comprises several sensors and controllers. These sensors are used to collect information regarding vehicle characteristics. On the other hand, a controller processes the traffic and other related information collected by the sensors and stores it in the data warehouse. The hardware segment is estimated to dominate the weigh-in-motion system market during the forecast period. The hardware market is dominated by the European region, followed by North America as of 2019.
Europe and the Asia Pacific are estimated to be the largest and fastest-growing market for the weigh-in-motion system, respectively
Europe is estimated to be the largest weigh-in-motion system market during the forecast period due to increased freight traffic and free movement of goods between European countries, which have increased traffic in national and international highways in toll plazas. WIM systems are used to detect overweight vehicles without disturbing the traffic flow.
The Asia Pacific WIM system market is estimated to be the fastest-growing market because of increasing investments in intelligent transportation systems, smart traffic management, and smart cities, especially in China and India. Moreover, increasing vehicle sales and increasing import/export in the region are also expected to drive the market for weigh-in-motion system. Presently, the low-speed weigh-in-motion system dominates the Asia Pacific market. However, by the end of 2026, a high-speed WIM system is expected to have a decent market share. A high-speed system offers various advantages and helps reduce traffic congestion.
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=242065043
Key Questions Addressed by the Report:
• Which type of a weigh-in-motion system is preferred, and which type will dominate in the future?
• When is the onboard WIM system likely to have a mass adoption rate?
• How are industry players addressing the challenge of data fusion and the accuracy of the WIM system?
• What are the key opportunities for WIM system suppliers during the forecast period?
• Which end-use industry will dominate the market in the coming years?
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
newsletter@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
