Automotive Smart Tire Market Report

1. Automotive Smart Tire Market Analysis The automotive smart tire market is expected to experience significant growth over the forecast period. Smart tire technology is revolutionizing the automotive industry, enhancing safety, efficiency, and driver experience. This report provides an in-depth analysis of market trends, segmentation, drivers, restraints, and competitive landscape. Request a free request sample (Full Report Starting from USD 995) :https://straitsresearch.com/report/automotive-smart-tire- market/request-sample

2. Market Segmentation by Applications Passenger Vehicle Commercial Vehicle The passenger vehicle segment is expected to dominate the market due to the increasing adoption of smart tire technology in passenger cars. Advanced features such as TPMS and connected tire systems are becoming standard in new vehicles. The commercial vehicle segment is anticipated to witness significant growth driven by the need for enhanced safety, efficiency, and fuel economy in commercial vehicles. Smart tires play a crucial role in fleet management and optimization.

3. Market Segmentation by Mode of Sales OEM Aftermarket The OEM (Original Equipment Manufacturer) channel is expected to hold a significant share of the market. Automotive manufacturers are increasingly incorporating smart tire technology into their new vehicles. The aftermarket channel is projected to witness substantial growth as car owners seek to upgrade their vehicles with smart tire technology. The aftermarket offers a wide range of smart tire solutions for existing vehicles.

4. Market Segmentation by Product Intelligent Tire (TPMS) TPMS (Tire Pressure Monitoring Systems) are widely adopted in vehicles, providing real-time tire pressure information to drivers. Connected Tire Connected tire systems allow for data sharing between tires and vehicles, enabling features like tire tread depth monitoring, puncture detection, and remote tire pressure adjustment. 1 2

5. Market Segmentation by Sensor Type Sensor Type Description TPMS Monitors tire pressure RFID Chip Identifies and tracks tires Accelerometer Sensor Measures tire acceleration and vibration Strain Gauge Sensor Measures tire deformation and pressure Others Includes sensors for temperature, humidity, and wear

6. Market Segmentation by Region North America North America is expected to be a major market for automotive smart tires, driven by strong adoption of advanced automotive technology and a growing demand for safety and efficiency features. Europe Europe is anticipated to witness significant growth in the smart tire market due to stringent regulations on vehicle safety and emissions, as well as a rising awareness of the benefits of smart tire technology. APAC The APAC region is projected to be a high-growth market for automotive smart tires due to rapid economic development, increasing urbanization, and a growing demand for advanced automotive technology. Middle East and Africa The Middle East and Africa are expected to witness gradual growth in the smart tire market, driven by increasing investments in infrastructure and a rising awareness of the benefits of smart tire technology. LATAM LATAM is anticipated to exhibit moderate growth in the automotive smart tire market, driven by increasing vehicle ownership and government initiatives to promote safety and fuel efficiency.

7. Market Drivers and Restraints Rising Demand for Safety Features Consumers are increasingly prioritizing safety features in their vehicles, driving demand for smart tires that enhance vehicle stability and safety. 1 Growing Adoption of Connected Car Technology The increasing adoption of connected car technologies is creating opportunities for smart tire systems that seamlessly integrate with vehicle infotainment systems. 2 Stringent Government Regulations Governments worldwide are implementing stringent regulations on vehicle safety and emissions, leading to an increased adoption of smart tires that meet these standards. 3 High Initial Cost The high initial cost of smart tires is a major restraint to market growth, especially in developing regions where consumers are budget-conscious. 4 Lack of Awareness A lack of awareness about the benefits of smart tire technology is a challenge in some regions, limiting market adoption. 5

8. Competitive Landscape and Key Player Analysis Michelin Michelin is a leading global tire manufacturer with a strong presence in the smart tire market. They offer a range of smart tire solutions, including TPMS and connected tire systems. Bridgestone Bridgestone is another major player in the smart tire market, offering innovative solutions such as tire pressure monitoring systems and advanced tire management systems. Continental Continental is a leading automotive technology company with a strong presence in the smart tire market. They provide advanced smart tire solutions, including TPMS, RFID chips, and connected tire systems. Goodyear Goodyear is a well-established tire manufacturer with a growing presence in the smart tire market. They offer a range of innovative smart tire solutions, including TPMS and connected tire systems.