The Weigh in Motion Systems Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.
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.
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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.
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.
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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.
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.
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Some of the major players operating in the weigh in motion systems market size include TE connectivity, Q-Free, Kapsch Trafficcom, Kistler, International Road Dynamics, Efkon, SWARCO, Essae, TransCore and Axis Communications.