CHICAGO, March 23, 2021 /PRNewswire/ — According to the new market research report “Weigh-In-Motion System Market by Type (In-Road, Bridge Weigh, Onboard), Vehicle Speed (Low, High), Component (Hardware, Software & Services), End Use Industry (Highway Toll, Oil & Refinery, Logistics), Sensors, Function, Region – Global Forecast to 2027″, published by MarketsandMarkets™, the Weigh-In-Motion System Market is projected to reach USD 1,730 million by 2027 from USD 858 million in 2020, at a CAGR of 10.5% during the forecast period.
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196 – Tables
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Increasing government initiatives toward intelligent transportation systems and increasing public-private partnerships (PPPs) is boosting the growth of the market for weigh-in-motion system. Low cost compared with static weigh scale is expected to further fuel the growth of the weigh-in-motion system market.
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Traffic data collection segment is expected to be the fastest-growing segment during the forecast period
The traffic data collection system provides real-time monitoring of specific situations and road areas, such as toll highways, bridges, and underpasses, with the help of dedicated video devices. The system extracts useful information about road mobility and traffic, helps enhance road safety, and gives information to users. Thus, the traffic data…