Automotive Smart Tire Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2028

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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,

The Global Automotive Smart Tire Market Report, published by Emergen Research, offers an industry-wide assessment of the Automotive Smart Tire market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development. The current trends of the Automotive Smart Tire market, combined with a wide array of growth opportunities, key drivers, restraints, challenges, and other critical aspects, have been vividly detailed in the Automotive Smart Tire market report. Furthermore, the report takes into account various market dynamics, which, in turn, generate a plethora of developmental prospects for the leading players involved in the of the Automotive Smart Tire industry.

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. Additionally, tire manufacturers are deploying Internet of Things (IoT) to enhance development of smart tires and increasing implementation of 3D printing for production of automotive smart tires. These advanced technologies being deployed in the automotive industry have been playing a significant role for rising use of AI and research and development of various features offered in smart tires.

The latest report is the most recent study that offers 360° coverage of the Automotive Smart Tire industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Automotive Smart Tire market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

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Segmental Analysis

The global Automotive Smart Tire market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Automotive Smart Tire sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

  • 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

Regional Analysis:

This section of the report offers valuable insights into the geographical segmentation of the Automotive Smart Tire market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.

The report classifies the global Automotive Smart Tire market into various regions, including:

  • North America (U.S., Canada)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

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Competitive Terrain:

The Global Automotive Smart Tire Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report are as follows:

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 & Industries Ltd., Maxxis International, Interco Tire Corporation

Report Highlights:

  • The report conducts a comparative assessment of the leading market players participating in the global Automotive Smart Tire market.
  • The report marks the notable developments that have recently taken place in the Automotive Smart Tire industry
  • It details on the strategic initiatives undertaken by the market competitors for business expansion.
  • It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Automotive Smart Tire market value chain.
  • The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.

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