Weigh in Motion Systems Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3312
Weigh in Motion Systems Market size will grow substantially over the projected timeframe driven by increasing requirement for capturing and recording truck axle and gross vehicle weights along with rising prevalence of truck operators to overload their vehicles to improve profits and margins. Incorporation of sensors and technologies across a wide range of surfaces including pavements, bridges, and road among others further expands the industry share.
The advent of weigh in motion scale with incorporation of advanced Mettler Toledo quartz piezo sensors and load cell platforms for facilitating accurate weighing of vehicles further supports the weigh in motion systems market expansion. The continuous data processing capabilities along with elimination of inherent data bias in static weighing operations are providing a positive outlook for the weigh in motion market share.
The integration of appropriate hardware and software technologies for processing and analyzing real-time data play an important role in expanding the market share over the forecast timeframe. Few of the major software include WIMenforce, WIMplan, WIMvirtual. These software assists in multiple operations including data collection, interpretation, and monitoring of commercial vehicle traffic.
Technological advancements in weigh-in-motion systems are expected to significantly boost the weigh in motion systems market share over the projected timeframe. For instance, in 2014, Applied Traffic launched its portable WIM weighbridge, with the capability to be fitted in vehicles. Additionally, the system includes Bluetooth technologies with the ability to weigh up to 16 axles at any one time of around 30t per axle.
The complex internal mechanism of the weigh in motion systems along with susceptibility to damage from electromagnetic transients may hamper the weigh in motion systems market share over the projected timeframe. Additionally, the reduced information interpreted by such systems including model year, fuel type, and state registry among others may further limit its usage. However, the incorporation of advanced sensors and software are playing a major role in minimizing the system shortcomings and expand the industry share.
The weigh in motion systems market share, based on application is segmented into low speed and high-speed WIM. The low speed WIM is expected to hold a significant share over the projected timeframe. This can be attributed to the adherence to speed limit by most commercial vehicles and trucks in highways and open roads. Additionally, the advantages offered by such systems including lower acquisition and maintenance costs along with diversified applications in a wide range of industries including logistics, agriculture, and mining among others are further expected to boost the market size.
Based on component, the market size can be categorized into hardware and software. The software will showcase a significant share owing to advancements in coding and programming technologies. Moreover, the requirement for appropriate software to calculate, interpret, and analyze data along with integration of multiple sensor programing modules for efficient performance are further expected to drive the segment growth.
Based on industry, the weigh in motion systems market share can be classified into oil & gas, road toll, and logistics. The growth in the oil & gas segment can be credited to the requirement for enhanced safety during loading and carrying of oil-based products over long distances. Moreover, these systems reduce the probabilities of accidents and fire hazards that may occur due to overloading.
North America will account for a significant share in the weigh in motion systems market size. This can be attributed to the rising prevalence of trucks for freight and cargo transportation. Additionally, stringent regulations and governing bodies mandate the installation of such sensors in tolls collection centers and roads, thereby preventing truck overloading and boosting the regional share.
Some of the major players operating in the weigh in motion systems market size include Kistler, International Road Dynamics, TE connectivity, Q-Free, Kapsch Trafficcom, Efkon, SWARCO, Essae, TransCore and Axis Communications. Industry players are investing in R&D for developing new products and solutions for improving their market share. For instance, in February 2018, Kistler announced the launch of its advanced KiTraffic Weigh in Motion (WIM) systems and solutions assisting in traffic monitoring, weight-based tolling, and weight enforcement.
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