Automotive Smart Tire Market Report, History And Forecast 2020-2028, Breakdown Data By Manufacturers, Key Regions, Types And Application
A recent assessment study of the global Automotive Smart Tire market brings in the best of both qualitative as well aquantitative research techniques to analyze the competitive landscape for the forecast period 2020 to 2028.
The global automotive smart tire market size reached USD 76.78 Billion in 2020 and is expected to register a revenue CAGR of 6.6% during the forecast period. Rising demand for sensor systems in vehicle tires and increasing usage of Artificial Intelligence (AI) in vehicle tires are some of the major factors expected to drive global automotive smart tire market revenue growth over the forecast period. Increasing usage of new and advanced tire materials with technology advancements to reduce heat build-up and rising concerns regarding environmental impact and vehicle safety are other factors expected to augment revenue growth of the market going ahead. Steady advancements of technologies and commercialization of autonomous connected vehicles have led to increasing demand for various automotive components.
Increasing implementation of next generation automotive smart tires, dependence on conventional or regular types of tires, and availability of tires with new sensor systems that monitor tire pressure, wheel loading capacity, tread wear, and deformation and can improve the reliability of tire control systems. Rising demand for autonomous vehicles with highly automated driving capability and adoption of 3D printing technology in smart tires is expected to create more lucrative opportunities and drive growth of the automotive smart tire market going ahead. In addition, rapid integration of AI in smart tires is transforming the automotive smart tire market. Next generation technology through which tire pressure is monitored by algorithms, assessment can be done of different speed ratings between wheels and speed sensor system of a vehicle, and advancements in features of smart tires can enhance vehicle, driver, passenger, and pedestrian safety.
The study also focuses on the major driving forces and the restrains shaping the progress of the industry across different regions. The report entails both, investigative and discovery research methods to examine the performance of the prominent market players and their winning strategies to stay ahead in the competition.
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The SWOT analysis carried out during the study sheds light on the strengths, weaknesses, opportunities and threats encountered by the prominent vendors. Expert insights on past, present and future trends covered by the study further aims to provide clarity on the future prospects of the industry.
The major manufacturers covered in this report:
Continental AG, Bridgestone Corporation, The Goodyear Tire & Rubber Co., Sumitomo Rubber Industries Ltd., Pirelli & C. S.p.A., Toyo Tire Corporation, Nexen Tire Corporation, JK Tyre & Industries Ltd., Maxxis International, Interco Tire Corporation
The research analyzes market segmentation based on product type, application, sale and geographical regions. All different parameters known to impact the Automotive Smart Tire market are assessed in this research report and have also been accounted for, examined in detail, analyzed through qualitative and quantitative research and weighed upon to get actionable data.
Segments Covered in this report are:
Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
- Heavy Duty Truck
- Passenger Vehicle
- Electric Vehicle
- Commercial Vehicle
Features Outlook (Revenue, USD Billion; 2018–2028)
- Connected Tire
- Tire Pressure Monitoring System (TPMS)
- Others
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Non-pneumatic Tire
- Pneumatic Tire
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The key regions included here contribute significantly to the worldwide market share. The report also gives a competitive analysis of the Automotive Smart Tire market. The study categorizes the global market to project the total revenue and examine the past, present as well as emerging trends in sub segments such as types, size, vertical, consumers and geography.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
United States
Europe
China
Japan
Southeast Asia
India
Scope Of The Report:
This extensive analysis sheds light on an array of intangible aspects connected with the business such as important definitions, end use and total revenue garnered across different regions. The researcher has taken a conscious effort to get a closer look at some of the top performers of the Automotive Smart Tire industry. Other essential aspects evaluated during research include import and export, demand and supply, distribution channel, gross margin and supply chain management.
To add more credibility to the research the study examines the winning strategies adopted by the prominent vendors to maintain competitive edge worldwide. Vital statistics on the business performance is projected using self-explanatory resources charts, tables and graphic images.
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This report strategically examines the micro-markets and brings to light the impact of technology upgrades on the performance of the Automotive Smart Tire market. Researchers conducting the research also carry out a comprehensive analysis of the recent amendments in the government regulation and their impact on the competitive landscape of the industry.
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Our research and insights help our clients in identifying compatible business partners.
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The research assesses the recent progress in the competitive landscape including collaborations, joint ventures, product launches, acquisitions and mergers as well as investments in the sector for research and development.
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