New York, According to a new market research report published by Global Insight Services “Connected Tire Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A connected tire is a tire that is equipped with sensors and other technology that allows it to communicate with the outside world. This communication can take many forms, including sending data about the tires condition to a central database, transmitting real-time information about the tires location to a GPS system, or sending alerts to the driver if the tires pressure or temperature falls outside of safe levels.
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Key Trends
The key trends in connected tire technology are the development of more sophisticated sensors and the integration of those sensors with other systems within the vehicle. The goal is to provide drivers with more information about the condition of their tires and the road surface, and to enable the tires to adjust their level of grip automatically in response to changing conditions.
One of the most promising applications of connected tire technology is in the area of safety. By constantly monitoring the condition of the tires and the road surface, the system can provide warnings to the driver in the event of a potential issue.
In addition to safety applications, connected tire technology can also be used to improve fuel economy. By automatically adjusting the level of grip based on the conditions, the system can help to reduce the amount of energy that is wasted in overcoming tire slippage.
Key Drivers
The key drivers of the Connected Tire market are the need for real-time tire data, the increasing demand for safety and security, and the need for predictive maintenance.
The Connected Tire market is driven by the need for real-time tire data. Tires are one of the most important components of a vehicle, and they play a critical role in the safety and performance of a vehicle. However, tires are often under-inflated, which can lead to poor fuel economy, increased wear and tear, and reduced safety. .
The Connected Tire market is also driven by the increasing demand for safety and security. Tires are a leading cause of accidents, and they can often be the difference between a safe journey and a dangerous one.
Market Segments
The Connected Tire Market is segmented by rim size, sales channel, vehicle, and region. By rim size, the market is divided into 12″ – 17″, 18″ – 21″, > 22″. Based on sales channel, it is bifurcated into OEMs and aftermarket. On the basis of vehicle, it is classified into passenger vehicles and commercial vehicles. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Connected Tire Market includes players such as Michelin , Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Continental AG, Bridgestone Corporation, Nokian Tyres plc, Trelleborg AB, Sumitomo Rubber Industries, Ltd., JK Tyres, and Toyo Tires.
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Reasons to buy Connected Tire Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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