The Automotive Smart Tire Market report furthermore covers an inside examination of the vital contenders of the market alongside their development systems and business extension plans. In particular, the archive engages entrepreneurs to look for data about possible shoppers and where they can track down them. With a selective inclusion of the top sellers, the review empowers entrepreneurs to find out about the neighborhood market and find expected shoppers.
The global automotive smart tires market size reached USD 76.78 billion in 2020 and is expected to register a revenue CAGR of 6.6% during the forecast period, according to latest analysis by Emergen Research. Increasing usage of 5G technology in smart tires is expected to support market revenue growth between 2021 and 2028. Besides, increasing usage of new and more advanced tire materials that can evaluate real-time monitoring of tire conditions will boost revenue growth of the market. Currently, demand for 5G automated technology and tire pressuring monitoring systems for automotive smart tires has increased significantly. Many companies are combining strategies to sustain in the competitive market. Additionally, tire manufacturers are deploying Internet of Things (IoT) to enhance development of smart tires and increasing implementation of 3D printing for production of automotive smart tires. These advanced technologies being deployed in the automotive industry have been playing a significant role for rising use of AI and research and development of various features offered in smart tires.
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Competitive Terrain:
The global Automotive Smart Tire industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
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 study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
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Market Overview:
The report bifurcates the Automotive Smart Tire market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Points Covered in This Section:
- Regional contribution
- Estimated revenue generation
- Vital data and information about the consumption rate in all the leading regional segments
- An expected rise in market share
- Forecast growth in the overall consumption rate
Key Objectives of the Report:
- Analysis and estimation of the Automotive Smart Tire market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Automotive Smart Tire market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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