(MENAFN- Verified Market Research) Weighing In Motion Devices Market Size AndForecast
WeighingIn Motion Devices Market was valued at USD 867.35 Million in 2019 and isprojected to reach USD 1,614.94 Million by 2027, growing at a CAGR of 8.1% from2020 to 2027.
The Weighing In Motion Devices Market is observing huge growthowing to the growing government initiatives and transfer in focus towards theintelligent transportation system. In addition, the growing collaboration inpublic-private models is another factor driving the growth of the market.Furthermore, the increases in the congestion of traffic and cost effectivityare some other factors forcing a positive outlook on the growth of the market.The Global Weighing In Motion Devices Market report provides a holisticevaluation of the market. The report offers a comprehensive analysis of keysegments, trends, drivers, restraints, competitive landscape, and factors thatare playing a substantial role in the market.
GlobalWeighing In Motion Devices Market Definition
TheWeigh-in-Motion system is a set of software and devices which is utilized forestimation and recording the heaviness of moving vehicles. Street trafficorganizations, connect architects, control offices, research associations canget gross weight data and dependable hub weight data from moving vehiclesutilizing a Weigh in Motion System.
Theessential utilization of Weigh In Motion framework is for deciding vehicleattributes, for example, net vehicle weight (GVW), speed, hub weight, pivotseparating. It helps in improving street wellbeing, lessening mishap hazards,and forestalling street surface harms. The Weigh-in-Motion system isadditionally utilized for weight-based cost assortment. Because of expandingbusiness transportation prerequisites, the interest for Weigh in Motion systemis relied upon to heighten in the forecast period.
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GlobalWeighing In Motion Devices Market Overview
Theadvantages of Weigh in Motion system comprise providing road safety, overloadvehicles detection, road management, cost reduction, traffic monitoring, andanalysis. The Weigh-in-Motion system permits the local authorities andtransportation departments to plan systematically by assuring that the roadsare kept safe with constant monitoring, recording, and law enforcingtechniques. The Weigh-in-Motion system has applicability in rail transportalso. Some of those applications are maintenance planning, imbalance, andoverloading monitoring, legislation, and regulation, etc. These are the factorsanticipated to drive the growth in the Weighing In Motion Devices Market.
Thereare certain restrictions and limitations encountered that will restrain themarket growth. The factors such as high initial investments and restrictiveinstallation stipulations of nonintrusive sensors requirement are the potentialrestraints hampering the overall growth of the global Weighing In MotionDevices Market.
Nevertheless,with technological advancements, the manufacturers are converging ondevelopments to deliver a maximum share in the global Weighing In MotionDevices Market. Fiber optics sensor, strain gauge sensor, and fiber Bragggrating sensor-based Weigh in Motion system are being generated for enhancedperformance. This will grant lucrative growth opportunities throughout theforecast period.
GlobalWeighing In Motion Devices Market: Segmentation Analysis
TheGlobal Weighing In Motion Devices Market is Segmented on the basis of Type,Vehicle Speed, And Geography.
Weighingin Motion Devices Market, By Type
•In-road
• Bridge Weigh
• Onboard
Basedon Type, the market is bifurcated into In-Road, Bridge Weigh, Onboard. Theonboard weigh-in-motion systems segment is estimated to witness the highestCAGR during the forecast period. The onboard weigh-in-motion methods areimplemented to the vehicles rather than to the road. This system is proficientin transferring vehicle weight data at any point in time from a moving vehicleto the data storage system.
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Weighingin Motion Devices Market, By Vehicle Speed
•High-Speed
• Low-Speed
Basedon Vehicle Speed, the market is bifurcated into Low Speed, High Speed. Thelow-speed segment holds the largest market share during the forecast period.The factors that can be attributed to the adherence to speed limit by mostcommercial vehicles and trucks on highways and open roads are fueling thedemand for this segment.
Weighingin Motion Devices Market, By Geography
•North America
• Europe
• Asia Pacific
• Rest of the world
Onthe basis of regional analysis, the Global Weighing In Motion Devices Market isclassified into North America, Europe, Asia Pacific, and Rest of the world.Europe holds the largest market share. In Europe, weigh-in-motion sensingtechnologies have been widely applied in various applications such as bridges,pavements, and railways. This will boost the market in the European region.
KeyPlayers In Weighing In Motion Devices Market
The“Global Weighing In Motion Devices Market” study report will provide a valuableinsight with an emphasis on global market including some of the major playerssuch as Q-Free,Kistler, TransCore (Roper Technologies), Avery Weigh-Tronix, Kapsch TrafficCom,METTLER TOLEDO, TE Connectivity, International Road Dynamics AxisCommunications, and EFKON.
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