Automotive tires nowadays require proving far more than only grip and
profile. Tires are not only a crucial aspect associated with driving
safety but are also important for lowering the hazardous CO2 emission
and the overall vehicle operating costs. Intelligent tire systems
help to significantly improve fleet management by minimizing tire
costs, vehicle breakdowns and fuel consumption. Thus, the advantages
associated with intelligent tires include, extended tire life,
efficient fuel consumption, reduced vehicular CO2 emissions,
optimized fleet management and reduced possibilities of accidents and
breakdowns.
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The global automotive intelligent tires market is being primarily
driven by the increase in adoption of connected cars globally. Such
cars are equipped with certain wireless services and the internet
which help the vehicle to connect to networks and services that are
remotely connected. The increasing focus of auto manufacturers to
equip connected cars with such tires which can modify its traction by
updating the trend patterns in real time on the basis of several road
and environmental conditions is boosting the adoption of connected
cars which in turn is driving the demand for intelligent tires.
Furthermore, a key trend that is expected to gain popularity in the
global automotive intelligent tires market during the forecast period
is the adoption of battery less sensors for these tires. These
sensors ensure comparatively low power which would ensure lifetime
service of the intelligent tires.
The global automotive intelligent tires market can be classified by
vehicle type and by geography. The global market can be segmented on
the basis of vehicle type into commercial vehicles and passenger
vehicles. The automotive intelligent tires market was dominated by
the commercial vehicles segment in 2016 and this segment is set to
dominate the market throughout the forecast period from 2017-2025.
The commercial vehicles make up the bulk of the end user requirements
for intelligent tires since most of the end users of these
intelligent tires are fleet operators. However, it is estimated that
the passenger vehicles segment would record significant growth during
the forecast period and witness increases in its global market share.
The global automotive intelligent tires market can be further
classified geographically into North America, Europe, Asia Pacific,
South America and Middle East and Africa. In terms of the five
geographic segments, North America held the highest share of the
global market in 2016 and is anticipated to retain strong hold on the
market throughout the forecast period. There has been a steady shift
in the focus of auto makers in this region towards the deployment of
TPMS or direct tire pressure measurement system sensors, owing to
stringent regulations introduced by the government for improving the
safety of passengers and this is the major factor boosting the market
growth of automotive intelligent tires in North America. Asia Pacific
is expected to record steady growth during the forecast period. In
this region, the demand for direct tire pressure measurement system
is higher and is set to steadily increase in the economies of Koreas,
China, Australia and Japan
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The global automotive intelligent tires market report provides the
market share analysis of the key industry participants operating in
the industry. The global market is highly competitive with various
prominent players looking at enhancing their market shares. These
players have been exhaustively profiled and their business overview,
financial overview, business strategies and recent developments have
been covered under the purview of the report. Some of the major
players operating in the global automotive intelligent tires market
include Bridgestone Corporation, Continental AG, The Goodyear Tire &
Rubber Company, Michelin, The Yokohama Rubber Company, Limited,
Pirelli & C. S.p.A., Sumitomo Rubber Industries and The Hankook
TireGroup among others.
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