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.
The report offers insightful information about the market dynamics of the Automotive Smart Tire Market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Automotive Smart Tire Market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Automotive Smart Tire Market.
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The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- 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)
Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the global Automotive Smart Tire Systems market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Major companies in the market report include 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 Corporation Ltd., Maxxis International, and Interco Tire Corporation.
Emergen Research has segmented global automotive smart tire Market on the basis of vehicle type, features, technology, distribution Channel, and region:
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
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
- Aftermarket
- Original Equipment Manufacturer (OEM)
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