LAMEA Weigh in Motion System Market

Market Overview

Weigh in Motion Systems are estimated to grow at a CAGR of 9% throughout the forecast period (2022–2030). The weigh-in-motion system consists of software and hardware that calculates and records the weight of moving vehicles. Road traffic administrators and regulators, bridge builders, control agencies, and research organizations all used weigh-in-motion systems to collect reliable axle weight information from moving cars. PR In 1950, Clyde Lee of Texas pioneered weigh-in-motion. Vehicle characteristics such as GVW, speed, axle weight, and axle spacing are determined using the Weigh in Motion method. It aids in the improvement of traffic safety, the reduction of accident risk, and the preservation of road surfaces. The Weigh in Motion system also does weight-based toll collection. Due to increasing business transportation requirements, demand for Weigh in Motion systems is likely to expand over the forecast period.

The LAMEA Weigh in Motion System Market size is expected to reach a valuation of USD 92.62 million by 2030, growing at a CAGR of 7.30% during the forecast period (2022–2030) and for the Middle East and Africa, Weigh in Motion System Market size is expected to reach a valuation of USD 183.83 million by 2030, growing at a CAGR of 10.28% during the forecast period (2022–2030).

Market Dynamics

Market Driving Factors

• Large Petroleum Industry of Middle East: The Middle East produces a third of the world's oil. Saudi Arabia, Iran, Iraq, the United Arab Emirates, Kuwait, and Qatar are among the leading fossil fuel producers in the world. Because WIM systems are often utilised in the oil and gas industry, demand in the region is likely to rise throughout the forecasted period.

• Increased Productivity and Efficiency: As vehicles do not have to stop to be weighed, the entire procedure is significantly more efficient because their weight can be checked in nanoseconds. There are no unnecessary stops and starts, and more automobiles can be weighed each day. They're ideal for use in high-traffic places such as a freight terminal, where speed and efficiency are critical for avoiding queues and delays and keeping the business running smoothly, and this is predicted to propel the WIM market in LAMEA countries to new heights.

Market Restraining Factors

• Lack of Uniformity & Standardization: In traffic management technology such as weigh-in-motion devices, there is a lack of standardisation and uniformity. The weigh-in-motion device is made up of a number of different hardware and software components from various manufacturers. Furthermore, sensor, processor, and other equipment specifications differ by business and are not always compatible with the underlying platform. Furthermore, many countries and regions in LAMEA have their own set of community needs and rules that hinder solution providers from selling their services globally. Replacement of a component of the weigh-in-motion system in the aftermarket becomes extremely difficult due to a lack of standardisation. As a result, demand in LAMEA is being stifled by a lack of standards, specifications, and techniques for implementing a weigh-in-motion device.

Regional Analysis

LAMEA Weigh in Motion System Market is expected to reach USD 92.62 million by 2030, growing at a CAGR of 7.30 percent during the forecast period (2022–2030), and in the Middle East and Africa, the market is expected to reach USD 183.83 million by 2030, growing at a CAGR of 10.28 percent during the forecast period (2022–2030). Central, South, and Caribbean, as well as the Middle East and Africa, have the smallest market share.

The market revenue of Central and South America, as well as the Caribbean, was assessed at USD 49 million in 2021, with Brazil contributing the most. In 2021, the Middle East and Africa's market worth was USD 76 million, with the GCC contributing the most.

TDC has been conceiving, developing, and implementing Intelligent Transport Systems in the South American region for 16 years. This has included establishing a strong presence in South America to offer Weigh-in-Motion technology to nations like Brazil, Chile, and Argentina. TDC and local partner Tracevia Do Brazil have opened a new manufacturing base in Sao Paulo to give customers in the region with specialised technical assistance and resources. TDC's WIM systems have been placed in a vast number of locations around the region, and the new centre will expand on this strong presence by offering clients with local technical support.

Segmental Analysis

The LAMEA weigh in motion system market share is classified by vehicle speed, type, end-use industry, component, sensor type, and application.

Based on vehicle speed, low-speed weigh-in-motion systems are the largest shareholder in the region's weigh-in-motion system market. Low-speed weigh-ins are frequently used to collect axle weights on the spot, ensuring highway compliance. This technology has a number of advantages, including lower purchase and maintenance costs. Agriculture, logistics, mining, and other industries employ low-speed weigh-in-motion, all of which are expected to see growing demand in the near future.

The three types of weigh-in-motion systems available on the market are weigh bridge systems, inroad systems, and onboard systems. Weigh Bridge has the most market share in 2021. These frameworks can be automated and used to a wide range of organisations, from waste management to development, resulting in decreased operational expenses and increased work proficiency. The use of IoT with weigh bridges has a number of advantages, including a fully automated system that allows a vehicle driver to determine weight without the need for help. Secure vehicle identification, real-time data monitoring, and autonomous traffic control signals are some of the advantages of IoT integration. As a result of these advancements in the weighbridge system, the market is expanding.

Of all the end-use industries, highway toll has the largest market share and generates the most revenue. The key driver of demand for weigh-in-motion in the highway toll industry is the need to identify overweight cars at toll plazas.

Software and services are the most important market contributors for this component. This sector is predicted to produce USD 1201 million by 2030, with a CAGR of 9%.

The piezoelectric sensor has the biggest market share and is quickly expanding by sensor type. Compared to other technologies, piezoelectric sensors are more compact and have a simpler design. A wider measuring range and a deeper road installation depth are also advantages. Piezoelectric sensors are becoming more used in weigh-in-motion applications all over the world as a result of their benefits over other sensors.

Application-based weight-based toll collection is the largest market holder. An instant check for road-legal weight, a fully automated weighing process, a large number of vehicles weighing without disrupting traffic, daily reporting measures of vehicle productivity, automatic data collection and storage of the vehicle, and axle weight, gross weight, and axle count record are among the factors driving the weigh-in-motion for weight-based toll collection.