Market Scope
The global automotive smart tire market is estimated to reach
USD 2254.49 Million by 2025 registering a CAGR of 16.10% during the forecast
period. This is influenced by the focus of automotive manufacturers to leverage
on data and analytics to improve their tires. Metrics such as load detection,
tread wear & depth, pressure & temperature, and road conditions can be
used in gleaning useful insights and start new trends in tire development.
Smart tires made for the automotive industry make the use of
sensors for gauging the tire pressure, driving behavior, and other vehicle
dynamics. The changing tire industry and evolution in connected vehicles can
pave forth the way for smart tires. The global automotive smart tire market report by
Market Research Future (MRFR) comprises drivers and challenges for the period
of 2019 to 2025 (forecast period) which can shape the future of the automotive
industry. The COVID-19 pandemic and its impact on the production and value
chain are included in the report.
Investments in internet of things (IoT) sensors for extending
tire shelf life and fuel efficiency can spur the global automotive smart tire
industry. The need to protect fleet drivers and improve logistical
inconsistencies can drive the smart tire demand over the forecast period.
Competitive Outlook
The Goodyear Tire & Rubber Co, Bridgestone Corporation, Continental AG, NEXEN TIRE Corporation, Michelin Group, Pirelli & C. S.p.A., and Sumitomo Rubber Industries, Ltd. are key players of the global automotive smart tire industry. Joint ventures and collaborations are prime strategies of players sustaining in the market.
Segmentation
·
On the
basis of technology, the market has been segmented into pneumatic tires
and non-pneumatic tires.
·
On the
basis of vehicle type, the market has been segmented into battery electric
vehicles, hybrid electric vehicles, passenger cars, commercial vehicles, and
plug-in hybrid vehicle.
·
On the
basis of sales channel, the market has been segmented into original equipment
manufacturer (OEM) and aftermarket.
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Regional Analysis
Geographically, the global automotive smart tire market has
been segmented into four major regions namely North America, Europe, Asia
Pacific (APAC), and Rest-of-the-World (RoW). Europe is estimated to account for
a significant market share in the automotive smart tire market owing to
relatively high adoption of sensor integrated tires and substantial investments
by software giants to incorporate IoT platforms. Sales of connected and
passenger vehicles and presence of ride-sharing platforms to improve security
of passengers can bode well for the market.
Considerable sales of commercial vehicles (light commercial
and heavy commercial) in the U.S. is expected to augment the growth of global
smart tire market in North America during the forecast period. Rise of 5G and
integration of wireless sensors in fleets can influence the regional automotive
smart tire market over the forecast period. Investments by governments and
self-driving technology providers can bode well for the market.
Stringent emission norms, government measures to reduce
accidental rates, and significant automotive production are some of the drivers
which are expected to propel the demand for smart tires in the Asia Pacific
region. Lax regulations pertaining to safety and emissions can drive the
regional market growth over the forecast period.
Automotive Smart Tire Market@
https://stockmarketfunda.com/2020/11/11/automotive-smart-tire-market-is-expected-to-reach-approximately-usd-2254-49-million-by-2025-global-industry-analysis-by-major-companies-like-the-goodyear-tire-rubber-co-bridgestone-corporatio/
Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Automotive smart tire Market Segmentation
8. Automotive smart tire Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
More…
If you have any requirements, let know and we will customize the
report according to your need.
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