Weigh-In-Motion Market Size to Surpass USD 2,385.61 Million by 2029, at a 10% CAGR from 2022 to 2029

Weigh-In-Motion Market 2023, Industry Size-Share, Global Trends, Key Players Strategies, Business Opportunities, Revenue, Gross Margin and Forecast 2029

LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 8, 2023 /EINPresswire.com/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Weigh-In-Motion Analysis Report.

According to a Comprehensive Research Report by Exactitude Consultancy, “Weigh-In-Motion Market by Vehicle Speed (High Speed, Low Speed) Type (In-Road System, Weigh Bridge System, Onboard System) Component (Hardware, Software And Services) Function (Vehicle Profiling, Axle Counting, Weight Enforcement, Weight-Based Toll Collection, Traffic Data Collection) Sensor Type (Image Sensor, Piezoelectric Sensor, Bending Plate, Inductive Loop, Magnetic Sensor, Acoustic Sensor, Infrared Sensor, Radar Sensor, Lidar Sensor And Thermal Sensor) End-Use Industry (Highway Toll, Oil And Refinery, Logistics, Others), Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2023 to 2029”, The global weigh-in-motion market is expected to grow at 10% CAGR from 2023 to 2029. It is expected to reach above USD 2,385.61 million by 2029 from USD 824.77 million in 2022.

Weigh-In-Motion report covers extensive analysis of the key market players, along with their business overview, expansion plans, and strategies. The key players studied in the report include: Avery Weigh-Tronix, Axis Communications AB., EFKON GmbH, International Road Dynamics Inc., Kapsch, Kistler Group, METTLER TOLEDO, Q-Free, TE Connectivity, TransCore, Kapsch TrafficCom AG., International Road Dynamics Inc., Kistler Group., SWARCO, Teledyne FLIR LLC., Infogix Inc, Reltio, TE Connectivity., Axis Communications AB., Raytheon Technologies Corporation., Siemens., Sensys Networks, Inc., Cross Zlin a.s, Intercomp’, EFKON India Pvt. Ltd, SICK AG., Image Sensing Systems, Inc., and LeddarTech Inc.

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✔ A summary of the research work.

✔ Table of Contents The study’s depth of coverage

✔ Market participants at the forefront

✔ The research framework of the report’s structure

✔ Exactitude Consultancy’ research methodology

Recent Developments

In May 2022, International Road Dynamics Inc. announced that the company had been awarded two contracts totaling around USD 900 thousand for weigh-in-motion (WIM) system upgrades for the Illinois State Toll Highway Authority.

In April 2022, Mettler Toledo launched a single-draft weigh-in-motion scale, TruckPass, which enables legal-for-trade levels of accuracy, previously unavailable to in-motion solutions. Companies in the US can now benefit from this technology, boosting efficiency, reducing emissions, and improving operations with the integration of DataBridge Transaction Management Software due to the updates in Specifications, Tolerances, and Other Technical Requirements for Weighing and Measuring Devices’ standards in the US.

Some points on how the report benefits stakeholders:

✔ The Weigh-In-Motion Market reports include historical (2018–2020) and forecast (2022–2029) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.

✔ The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.

✔ Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2029.

✔ The Weigh-In-Motion Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.

✔ The report contains company profiles of the top companies operating in the Weigh-In-Motion market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

✔ Weigh-In-Motion Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.

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What are the market factors explained in the report?

Key Strategic Developments: The study includes key strategic developments of the Weigh-In-Motion Market, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, Weigh-In-Motion market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Weigh-In-Motion dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools: The Global Outsourced Weigh-In-Motion Market report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Regional Analysis

The Weigh-In-Motion market by region includes Asia-Pacific (APAC), North America, Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA

Asia Pacific to be the fastest growing market by value during the forecast period

In the Asia Pacific area, the use of various traffic sensors and weigh-in-motion systems has expanded due to the rise in megacities and population expansion in both developed and developing nations. Weigh-in-motion systems and traffic sensors are being recognized as effective traffic solutions by several countries in the region for reducing traffic congestion, automated toll collection, vehicle detection, traffic control, and traffic management. The Asia Pacific region has a large number of traffic management projects in progress since there is an increasing need to replace and upgrade the current traditional transportation infrastructure.

The need for weigh-in-motion systems in Asia Pacific nations including China, Japan, and India is driving the market's rapid growth. Numerous traffic management initiatives have been put into place by local and regional government entities. These include the following: the Rohtang Tunnel at Lahaul, Spiti Valley, India; the Hong Kong Intelligent Transport System (ITS) in China; the Beijing Real-Time Traffic Information System in China; the Chenani-Nashri Tunnel (Patnitop Tunnel) in India; the Smart City Kochi in India; and the Gateway WA Perth Airport and Freight Access Project in Australia.

It is anticipated that all of these activities will grow the traffic management industry in Asia Pacific. The expansion of road infrastructure and the adoption of ITS are the two main factors driving the demand for weigh-in-motion systems in the Asia Pacific region. As a result, it is predicted that throughout the projected period, Asia Pacific would grow at the quickest rate.

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