The weigh-in-motion system is a system containing software and hardware devices that are used for the measurement and recording of the weight of moving vehicles. Weigh-in-motion systems are capable of measuring vehicles traveling at a reduced or normal traffic speed and do not require the vehicle to come to a stop. This makes the weighing process more efficient and, in the case of commercial vehicles, allows for trucks under the weight limit to bypass static scales or inspection.
The majority of the cities on a global scale are leaning toward the excessive adoption of intelligent mobility solutions, which is a primary driving force motivating various governing bodies to take initiatives toward intelligent transportation systems. For instance, The Roads and Transport Authority (RTA) of Dubai has proclaimed another brilliant transport system from 2017–2021 recently, which intends to make 25% of the city's excursions via autonomous vehicles by 2030. The demand for weight-in-motion systems in intelligent transportation is increasing owing to their application in smart transportation.
The rising traffic issue has mostly affected the operation of the toll plaza since it increases the time of processing vehicles with such massive traffic. Weigh-in-motion (WIM) allows the control of vehicle loads without interruption of traffic. The weigh-in system contributes to primary savings by traffic monitoring and controlling the number of overloaded vehicles on the road. To cater to these problems of heavy vehicles without interrupting the road traffic, demand for weigh-in-motion is increasing.
The fundamental piece of the static weight evaluation system is an indicator that is furnished with other analytic capacities, notwithstanding the weight display. These static weigh scales require a computer-aided system with appropriate software to execute the weighing process. Further, other equipment like cameras, barriers, and traffic lights are also needed to operate it in unattended mode. This collectively tends to increase the cost of a static weighing scale as compared to a weigh-in-motion. In addition, the maintenance cost for the static weight scale is also higher as this system needs to be protected from corrosion and dirt. These costs add up and make a static weight scale more expensive than a weigh-in-motion.
A large number of corporates announced layoffs and put their operation in various countries. Production line terminations, store network interruption, and decreasing interest have caused significant damage. Transportation incomes dropped essentially, transport laborers' wages were deducted, other vehicle laborers were laid off, and some vehicle organizations shut because of the outbreak. Such a massive downfall in the transportation industry around the world has severely impacted the weigh-in-motion system market.
Europe will hold the largest market share during the forecast period due to increasing demand for weigh-in-motion systems for Government initiatives in traffic and road maintenance. The Europe weigh-in-motion system market was valued at USD 340 million in 2021 and is expected to value at 623 million by 2030 at a CAGR of 7%. North America will account for the second-largest market share and was valued at 270 million in 2021, owing to the demand for various smart city projects.
Asia-Pacific will witness steady growth, with China occupying the majority of market value. Immense urbanization and robustly growing economies will boost the market share. Central & South America and The Caribbean and Middle East & Africa will account for competitively lower growth, with South Africa registering a significant growth rate owing to the developing economy.
The key players in the global weigh-in-motion system market are