About Intelligent Tires
Intelligent tires equipped with a pre-mounted sensor which constantly monitors the temperature and pressure of the running tires and transmits the real-time information to the tire pressure monitoring systems. As an autonomous vehicle and shared mobility continuously growing in popularity on desires for reduced cost and increased convenience for consumers. In 2015, shared kilometres accounted for 4 percent of global kilometres travelled. This number is projected to exceed 25 percent by 2030. These number shows the growth of intelligent tires market in the upcoming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Japanese Vendors will contribute the maximum growth to Global Intelligent Tires market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bridgestone Corporation (Japan), Continental AG (Germany), Goodyear Tire and Rubber Company (United States), Michelin (France), Pirelli (Italy), Yokohama Rubber Company (Japan), Sumitomo Rubber Industries (Japan), Hankook Tire (South Korea), Nokian (Finland) and Toyo Tire (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Intelligent Tires market by Type (Direct Tire Pressure Monitoring and Indirect Tire Pressure Monitoring), Application (Military, Civil and Others) and Region.
On the basis of geography, the market of Intelligent Tires has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vehicle Type, the sub-segment i.e. Passenger Vehicle will boost the Intelligent Tires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Able to Provide Real-Time Road Information for Vehicle Control Systems and Increasing Usage of Battery Less Sensors for Intelligent Tyres
Market Growth Drivers:
Increasing Need for Convenience and Driver Assistance and The Growth in Sales of Electric and Autonomous Cars in Developed Economies
Challenges:
Lack of Proper Road Infrastructure in Developing Economies and Shortages of Skilled Technical Operator
Restraints:
High Initial Investment Costs in Intelligent Tires and Lack of Awareness in Developing Economies
Opportunities:
Surging Adoption of Connected Cars for Developing Advanced Safety Features and Consistently Adoption of Shared Mobility
Market Leaders and their expansionary development strategies
In March 2023, Autonomous driving technology form Korean startup 3Secondz had been acquired by Hankook. Established in 2016 by CEO Kim Jae-woo, 3Secondz has developed driver-specific autonomous technologies based on advanced driving data, including the real-time driving data collection device XYRO and control and driving data analysis software TeamSolution.
In June 2023, The Goodyear Tire & Rubber Company introduced racing tires with the first real-time intelligence capability to record tire pressure and temperature to be featured on the NASCAR Next Gen Chevrolet Camaro ZL1 Garage. The Goodyear Racing tires are outfitted with an innovative passive, non-battery, sensor cured into the tire during production.
Key Target Audience
Raw Material Suppliers, OEMs and Tyre Manufacturers, Rubber, Chemical and Equipment Suppliers, Vehicle Servicers and Tire Distributors, Industry Consultants and Analysts and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.