The factors and challenges that are expected to affect the automotive sector from 2023 to 2030 are detailed in the global automotive smart tire market size study by MRFR. The paper includes the COVID-19 epidemic and its effects on the value chain and manufacturing.
Automotive industry-specific smart tires utilize
sensors to measure tire pressure, driving style, and other vehicle parameters.
The development of linked automobiles and the shifting tire business may open
the door for smart tires.
Automotive Smart Tire Market Scope
The global automotive smart tire market is
estimated to reach USD 2254.49 million by 2025 registering a CAGR of 16.10%
during the forecast period. This is influenced by the focus of automotive manufacturers
to leverage on data and analytics to improve their tires. Metrics such as load
detection, tread wear & depth, pressure & temperature, and road
conditions can be used in gleaning useful insights and start new trends in tire
development.
Investments in internet of things (IoT) sensors
for extending tire shelf life and fuel efficiency can spur the global
automotive smart tire industry. The need to protect fleet drivers and improve
logistical inconsistencies can drive the smart tire demand over the forecast
period.
Automotive Smart Tire Market Competitive
Outlook
- The
Goodyear Tire & Rubber Co (USA)
- Michelin
Group (France)
- NEXEN
TIRE Corporation (Korea)
- Continental
AG (Germany)
- Bridgestone
Corporation (Japan)
- Sumitomo
Rubber Industries Ltd. (Japan)
- Pirelli
& C. S.p.A. (Italy)
Automotive Smart Tire market Segmentation
On the basis of technology, the market has been
segmented into pneumatic tires and non-pneumatic tires.
On the basis of vehicle type, the market has been
segmented into battery electric vehicles, hybrid electric vehicles, passenger
cars, commercial vehicles, and plug-in hybrid vehicle.
Automotive Smart Tire Market Regional
Analysis
Geographically, the global automotive smart tire
market has been segmented into four major regions namely North America, Europe,
Asia Pacific (APAC), and Rest-of-the-World (RoW). Europe is estimated to
account for a significant market share in the automotive smart tire market
owing to relatively high adoption of sensor integrated tires and substantial
investments by software giants to incorporate IoT platforms. Sales of connected
and passenger vehicles and presence of ride-sharing platforms to improve
security of passengers can bode well for the market.
Considerable sales of commercial vehicles (light
commercial and heavy commercial) in the U.S. is expected to augment the growth
of global automotive smart tire market size in
North America during the forecast period. Rise of 5G and integration of
wireless sensors in fleets can influence the regional automotive smart tire
market over the forecast period. Investments by governments and self-driving
technology providers can bode well for the market.
Automotive Smart Tire Drivers
Automotive smart tire drivers are devices that mount on the wheels of a
vehicle and provide real-time data on the vehicle's tires. This data can
include tire pressure, temperature, tread depth, and load. Smart tire drivers
can also detect tire failure and alert the driver.
Smart tire drivers are powered by batteries and communicate with the
vehicle's onboard computer using wireless technology. The onboard computer can
then display the tire data to the driver on the dashboard or infotainment
system.
Smart tire drivers can provide a number of benefits to drivers and fleet
operators. These benefits include:
- Improved safety: Smart tire drivers can help
to prevent tire failure, which can lead to accidents.
- Increased fuel efficiency: Properly inflated
tires have lower rolling resistance, which can improve fuel efficiency.
- Extended tire life: Properly inflated tires
last longer.
- Reduced maintenance costs: Smart tire drivers
can help to identify potential tire problems early on, which can reduce
maintenance costs.
Smart tire drivers are becoming increasingly common in new vehicles.
They are also available as aftermarket accessories for older vehicles.
Here are some examples of how automotive smart tire drivers are being
used today:
- Commuters: Smart tire drivers can help
commuters to improve fuel efficiency and extend the life of their tires.
- Long-haul truck drivers: Smart tire
drivers can help long-haul truck drivers to improve safety and reduce
maintenance costs.
- Construction workers: Smart tire drivers
can help construction workers to improve safety on construction sites.
- Off-road enthusiasts: Smart tire drivers
can help off-road enthusiasts to improve safety and performance.
Overall, automotive smart tire drivers are a valuable tool for drivers
and fleet operators. They can help to improve safety, fuel efficiency, tire
life, and reduce maintenance costs.
Read more:
Automotive Steer-by-Wire System
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