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.
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.
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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.
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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.
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