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BIS Research Study Highlights the Global Automotive Smart Tire Market to Reach $110.39 billion by 2026

The Global Automotive Smart Tire Market is projected to reach $110.39 billion by 2026, with a CAGR of 6.20% from 2021 to 2026 reveals the premium market intelligence study by BIS Research.

The comprehensive study of global automotive smart tire market BIS Research extensively covers the following:

  • Market numbers on micro-segments that are influencing the market
  • Competitive benchmarking of the key players offering automotive smart tire
  • Market Analysis of 7 Regions (North America, Europe, U.K., Asia-Pacific Japan (APJ), China, South America, and MEA)
  • 12 company profiles
  • Detailed global and regional qualitative and quantitative analysis of automotive smart tire market
  • Study of data of more than 40 companies

Technological advancements in the automotive industry have resulted in the worldwide adoption of smart tire solutions. The surging demand for autonomous vehicles and highly automated driving and implementation of 3D printing techniques for smart tires are some of the factors substantiating the growth of the smart tire market. However, lack of standardization and commercialization of smart tires, reliability issues faced by smart tire sensors, and lower adoption rate of smart tires in passenger vehicles are pressing matters to be looked upon in the current scenario.

The growing number of autonomous vehicles is pushing the demand for the deployment of the smart tire market. Owing to the increasing deployment of these tires, major players, including Continental AG, Bridgestone Corporation, Michelin, and The Goodyear Tire & Rubber Co., among others, are competing with each other to increase their market share.

View the Report from BIS Research at Global Automotive Smart Tire Market

As stated by, Principal Analyst at BIS Research, With the growing connectivity in the IoT era, tire manufacturers are developing diverse and advanced solutions for mobility, data sharing, and connected vehicles to offer Tire-as-a-Service (TaaS). The services are going to positively impact the growth of the smart tire by developing a platform which integrates smart tires with cloud-based platforms and smartphone applications to deliver tire-related services, whose results rely on data-based solutions such as monitoring of tire and vehicle parameters as well as providing insights regarding tire replacement and tire maintenance.

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Key insights are drawn from in-depth interviews with the key opinion leaders of more than 35 leading companies, market participants, and vendors. The key players profiled in the report include Continental AG, Bridgestone Corporation, Michelin, and The Goodyear Tire & Rubber Co., among other.

Who should buy this report?

  • Automotive OEMs
  • Automotive Tire Manufacturers
  • Tier 1 and Tier 2 Component Manufacturer
  • Consortium and Association
  • Self-Driving Technology Providers
  • Software Providers

How market intelligence on global automotive smart tire market can add value to an organization’s decision making process?

· Aids in product development

· Helps in targeting a segment for launching a new product

· Offers go to market strategies for the different source type

· Helps in analyzing conventional tire substitutes and compare the specification

· Aids in understanding the different types of smart tire

· Assists in exploring the newer application

Insightful Questions Covered to Enable Companies take Strategic Decisions

• Why should existing tire and sensor manufacturers consider venturing into the next-generation smart tire market, and what are the future growth opportunities?
• What are the key trends, market drivers, and opportunities in the market pertaining to automotive smart tires?
• What are the major restraints inhibiting the growth of the global automotive smart tire market?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in demand generating developing and developed countries?
• Which are the promising companies that have obtained financial support to develop their products and markets?
• Which are the key companies in the market to source sensors for integrating them into smart tire products?
• How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:
o Product offerings, including (smart tires and sensors)
o Application, including passenger and commercial vehicles
o Region, including North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa
• Which type of players and stakeholders are operating in the market ecosystem of the automotive smart tire, and what is their significance in the global market?

How This Report Can Add Value

Business and Corporate Strategies: The automotive smart tire market is poised to grow over time, compelling companies to come up with collaborative strategies in order to sustain themselves in the intensely competitive market. Companies with identical product portfolios, with a need for additional resources, often partner and come together for joint venture programs, which helps them gain access to one another’s resources and facilitates them to achieve their objectives faster. Furthermore, such ventures result in companies making use of each other’s expertise. Additionally, tire manufacturers have turned toward collaborating with Internet of Things (IoT) service providers for the rapid development of their automotive smart tires. For instance, in March 2018, Continental and Vodafone partnered to deploy commercial fleets with Conti Connect systems.

on January 14 at 1:06

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