The automotivesmart tire market 2023, reveals that there are major factors that governthe expansion of the market. Important consequences of COVID 19 on the
automotive smart tire market is provided along with the report. The continuous
adoption of advanced technology to develop intelligent tires and promote the
expansion of the market in the assessment period. The rise in IoT connectivity solution
deployment to boost safety of the automotive smart tire can support the
expansion of the market in the review period.
The higher durability, improvedvehicle performance, and increased fuel efficiency offered by automotive smart
tire market is likely to support the expansion of the market. Moreover,
different government are taking initiative to promote usage of 12-14 tires on
heavy commercial vehicle to prevent severe accidents.
The introduction of self-drivencars that can lead to decrease in driver intervention and interaction, along
with government initiatives that are supporting solutions to prevent accidents
and injuries can also impact the market in the review period. At the same time,
terrain adaptability, the low wear & tear of the tire, fuel-efficiency
enhancement, and high performance can drive the global automotive smart tire
market.
Segment Analysis
The segment analysis of theautomotive smart tire market is done by Sales Channel, technology, and Vehicle
Type.
The technology based segments ofthe automotive smart tire market are Non-pneumatic Tires and Pneumatic Tires. The
high sales of pneumatic tires due to increase in the awareness about their
advantages can impel the expansion of the automotive smart tire market in the
years ahead.
The Sales Channel based segmentsof the automotive smart tire market are Aftermarket and Original Equipment
Manufacturer. The presence of robust aftermarket solutions across developing
economies can support the expansion of the market in the study period.
The Vehicle Type based segmentsof the automotive smart tire market are Commercial Vehicles, Plug-in Hybrid
Vehicle, Passenger Cars, Battery Electric Vehicle, and Hybrid Electric Vehicle.
The rise in deployment of Plug-in Hybrid Vehicle and Passenger Cars can boost
the growth of the automotive smart tire market in the years ahead.
Regional Study
Global trends of the AutomotiveSmart Tire market is studied for North America, EU, Asia-Pacific, and the Rest
of the World.
The AutomotiveSmart Tire market in Europe can dominate the global automotive smart tiremarket across the assessment period as a relatively high rate of adoption of
sensor integrated tires by prominent tire manufacturers is observed in the
analysis period. The significant increase in the demand for autonomous cars,
along with semi-autonomous vehicles in the region is expected to prompt the
expansion of the Automotive Smart Tire market in the region. Furthermore, the
growing adoption of safety alternatives, strict measures to curb reduce
accident rates, fuel efficiency enhancement, and increase in the automotive
production in different regions of APAC can drive the expansion of the
Automotive Smart Tire market in the region.
In North America, the increase intire associations and rise of prominent vehicle producers, along with pressing demand
for smart tires that offer real time data and information pertaining to prevent
accidents can impel the expansion of the market across the review period.
Key Players
Michelin Group (France), TheGoodyear Tire & Rubber Co (USA), Continental AG (Germany), NEXEN TIRE
Corporation (Korea), Sumitomo Rubber Industries, Ltd. (Japan), Bridgestone
Corporation (Japan), and Pirelli & C. S.p.A. (Italy) among others are some
reputed names in the Automotive Smart Tire global Market as stated by MRFR.
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