Market Definition
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 tire’s condition to a central database, transmitting real-time information about the tire’s location to a GPS, or sending alerts to the driver if the tire’s pressure or temperature falls outside of safe levels.
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Market Dynamics
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.
The development of connected tire technology is still in its early stages, but the potential applications are numerous and the potential benefits are significant. As the technology continues to evolve, we will likely see even more innovative and exciting applications for this exciting new technology.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers, and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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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 the sales channel, it is bifurcated into OEMs and aftermarkets. Based on 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 Player
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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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porter 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Forecast Period – 2024-2033
- Base Year – 2023
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