The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Connected Tires Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Connected Tires Industry Analytical Overview (2023-2028): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Connected Tires Market is projected to grow at a CAGR of around 64.3% during the forecast period, i.e., 2023-28. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2023 to 2028.
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What is Included in Connected Tires Market Segmentation?
The report has segmented the market into the following categories:
By Type of Vehicle
- Passenger Vehicles - Market Size & Forecast 2018-2028, (Thousand Units)
- Commercial Vehicles - Market Size & Forecast 2018-2028, (Thousand Units)
By Rim Size
- 12”-17”- Market Size & Forecast 2018-2028, (Thousand Units)
- 17.1”-22”- Market Size & Forecast 2018-2028, (Thousand Units)
- More than 22”- Market Size & Forecast 2018-2028, (Thousand Units)
By Demand Type
- OEMs - Market Size & Forecast 2018-2028, (Thousand Units)
- Aftermarket - Market Size & Forecast 2018-2028, (Thousand Units)
Here, OEMs (Original Equipment Manufacturers) play a notable role in driving the adoption of connected tire technologies. More & more OEMs are forming strategic partnerships with tire manufacturers & technology providers to incorporate connected tire solutions into their new models. By integrating IoT-powered sensors, communication modules, & software systems into the vehicle's design, OEMs are enabling real-time tire monitoring, data collection, & connectivity features.
By Region
- North America
- South America
- Europe
- Asia-Pacific
- The Middle East and Africa
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Key Factor Driver Connected Tires Industry Growth by 2028
Ever-Increasing Emphasis on Vehicle Safety & Performance - Connected tires offer various benefits that improve safety, enhance vehicle performance, and provide real-time monitoring of tire pressure, temperature, & tread wear, which allows drivers to receive alerts & warnings regarding potential tire-related issues. It, in turn, reduces the risk of accidents caused by underinflated or worn-out tires. They further help maintain optimal tire pressure, maximize fuel efficiency, & enhance overall vehicle performance. Hence, with the rising cases of road accidents worldwide, there's a growing emphasis on vehicle & passenger safety, which is driving the Global Connected Tires Market.
Who are the Key Players Operating in the Connected Tires Industry?
The top companies of the Connected Tires market ruling the industry are:
- Bridgestone Tires
- Michelin Tires
- Goodyear Tire and Rubber Company
- Continental AG
- Pirelli
- Sumitomo Tires
- Hankook Tires
- Nokian Tyres
- Yokohama Tires
- Toyo Tires
- Zhongce Rubber
- Kumho Tire
- Telleborg AB
- MRF Tyres
- JK Tyres
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FAQs (Frequently Ask Questions)
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