Global Weigh-in-Motion Market 2018-2023 by Component and Application - Market to Reach $875.7 Million whilst Growing at a CAGR of 8.88% - ResearchAndMarkets.com

DUBLIN--()--The "Weigh in Motion Market by Component, Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The weigh in motion market is expected to grow from USD 572.2 Million in 2018 to USD 875.7 Million by 2023, at a CAGR of 8.88% during the forecast period.

The weigh in motion market has been segmented on the basis of component, which include hardware (sensors such as image sensors, piezoelectric sensors, bending plates, inductive loops, magnetic sensors, acoustic sensors, infrared sensors, radar sensors, LiDAR sensors, and thermal sensors; and controllers), and software and services. Among all sensor types, the market for image sensors is expected to lead the market during the forecast period.

The weigh in motion market is highly competitive, with a large number of global and local market players. The players in this market have adopted various strategies to expand their global presence and increase their market share. Partnerships, agreements, collaborations, and contracts were the key strategies adopted by industry players to achieve growth in the weigh in motion market. Rising demand for weight and traffic sensor-based products, as well as high growth in emerging markets has encouraged companies to adopt these strategies. International Road Dynamics (Canada), Siemens (Germany), Q-Free (Norway), and Kapsch TrafficCom (Austria) are some of the leading market players that have adopted aforementioned strategies to develop their businesses.

Market Dynamics

Drivers

  • Government Initiatives Toward Intelligent Transportation Infrastructure
  • Need for Advanced Traffic Congestion Solutions
  • Growing Need for Real-Time Information Systems
  • Reduced Environmental Pollution

Restraints

  • High Cost and Restrictive Installation Requirements of Nonintrusive Sensors
  • Slow Growth in Infrastructure Sector

Opportunities

  • Growing Market for Smart Transportation
  • Increasing Public-Private Partnerships (PPPs)

Challenges

  • Data Fusion Challenges Due to Multiple Sensors and Touch Points in Traffic Management Systems

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Weigh in Motion Market, by Component

7 Weigh in Motion Market, by Application

8 Geographic Analysis

9 Competitive Landscape

10 Company Profiles

  • Axis Communications
  • Cross ZLN
  • Efkon
  • FLIR Systems
  • Image Sensing Systems
  • Intercomp
  • International Road Dynamics
  • Kapsch Trafficcom
  • Kistler
  • LeddarTech
  • Q-Free
  • Raytheon
  • Reno A&E
  • Roadsys
  • Sensys Networks
  • SICK
  • Siemens
  • SWARCO
  • TE Connectivity
  • Transcore

For more information about this report visit https://www.researchandmarkets.com/research/jl5mfs/global?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Sensors

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Sensors