Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The automotive smart tire marketplace is witnessing dynamic shifts driven by improvements in the era and the developing demand for intelligent and connected cars. Smart tires constitute a huge evolution in the car industry, offering more suitable safety and overall performance. The marketplace dynamics of automotive smart tires are motivated by several key factors that form the enterprise landscape.
One crucial driving force of marketplace dynamics is the increasing recognition of automobile safety. Smart tires are prepared with sensors that monitor tire pressure, temperature, and tread intensity in real-time. This statistic is critical for preserving the most suitable tire's overall performance and stopping capability injuries due to underinflation or different tire-associated issues. As safety guidelines become more stringent globally, automobile manufacturers are incorporating clever tire technology to fulfill those requirements and beautify standard automobile protection.
The upward push of electric and independent vehicles is another pivotal factor influencing the dynamics of the automotive smart tire marketplace. Electric cars (EVs) require specialized tires to accommodate the unique characteristics of electric propulsion systems, which include high torque and immediate acceleration. Smart tires play a critical role in optimizing the overall performance of electric cars by offering actual-time records on tire conditions, contributing to power efficiency and variety optimization.
Global environmental issues and a growing emphasis on sustainability are also impacting the automotive smart tire marketplace. Smart tires contribute to fuel efficiency and reduce carbon emissions by optimizing the tire's overall performance and decreasing the probability of gas-wasting problems along with underinflation. As international governments implement stricter emission requirements, the car industry is increasingly adopting clever tire generation as part of a holistic technique for sustainability.
In conclusion, the market dynamics of the automotive smart tire enterprise are shaped by a mixture of safety guidelines, technological improvements, customer preferences, and environmental issues. As the car panorama keeps adapting, clever tires are located to play a central role in the destiny of connected and sensible transportation. Manufacturers, customers, and regulators alike are key stakeholders in driving the adoption and growth of the automotive smart tire market.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Technology, Vehicle Type and Sales Channel |
Automotive Smart Tire Market Highlights:
Automotive Smart Tire Market Synopsis:
Automotive Smart Tire Market Size was valued at USD 80.48 billion in 2022 and is expected to reach USD 169.9 billion by 2032 and grow at a CAGR of 8.3% over the forecast period 2023-2032.
The global Automotive Smart Tire Market is segmented on the basis of technology, vehicle type, sales channel, and region. 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 passenger cars, commercial vehicles, battery electric vehicles, hybrid electric vehicles, and plug-in hybrid vehicle. On the basis of sales channel, the market has been segmented into original equipment manufacturer (OEM) and aftermarket.
Geographically, the global Automotive Smart Tire Market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. 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 platform. Besides, considerable sales of commercial vehicles (light commercial and heavy commercial) in the US are expected to augment the growth of global smart tire market in North America during the forecast period. 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.
The prominent players in the global Automotive Smart Tire Market include The Goodyear Tire & Rubber Co (USA), Michelin Group (France), NEXEN TIRE Corporation (Korea), Continental AG (Germany), Bridgestone Corporation (Japan), Sumitomo Rubber Industries, Ltd. (Japan), and Pirelli & C. S.p.A. (Italy)
The rise of autonomous driving and connected vehicles has accelerated the evolution of the technology housed across all the parts of the vehicle. Automotive tires are the latest focus, providing real time data on pressure & temperature, tread wear & depth, road conditions, load detection, among other factors to meet complexity of vehicle management systems. Integration of sensors helps to track the status of the tire and transmit information related to tread depth, temperature, and pressure to car’s electronic control unit (ECU) which works with car’s inboard computers to enhance stability and ABS adjustments.
The embedded sensors and conductive rubber layer in the tire help in measuring various tire working criteria and the presence of moisture (snow, ice, or rain) on the road to make it work on maximum efficiency. Prominent tire manufacturers such as Continental, Bridgestone, Goodyear, and Michelin are all experimenting with IoT-connected sensors to deliver increased fuel efficiency, longer tire life, and greater safety to the fleet owners. Other than tire manufacturers, software giants such as Microsoft have invested USD 5 billion on IoT programs. The new IoT platform helps vehicle owners to monitor tire performance in real time to improve operational efficiency and take suitable action for reducing costs and improving profitability.
The report for global Automotive Smart Tire Market of market research future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
