The global automotive intelligent tires market is expected to post a CAGR of over 146% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the progress toward connected cars. Automobile manufacturers are developing cars with internet connectivity that can transfer information automatically when an event occurs. Cars that can use internet connectivity to transfer information to the concerned stakeholder open multiple avenues for advancement, especially with bringing connectivity options to individual vehicle components such as tires. An intelligent tire can use the connectivity feature to transfer information regarding the physical health of the tire.
This market research report on the global automotive intelligent tires market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the preferable use of intelligent tires in platooning systems as one of the key emerging trends in the global automotive intelligent tires market:
Global automotive intelligent tires market: Preferable use of intelligent tires in platooning systems
The platooning concept has been addressed as the future of the transport industry. In a platoon, multiple vehicles travel at an aerodynamically efficient distance and drive cooperatively by maintaining distance at high speeds. The platoon is akin to a trains compartment-like arrangement, but the vehicles in the platoon are physically disconnected. With time, automated driving technology is expected to become popular in passenger cars and CV segment. The platooning system would be a highly preferential feature in these vehicles.
Platooning permits shorter distances between moving vehicles, as autonomous automotive technologies are designed to execute faster reactions than human drivers. Such technologies can make road travel efficient and safe. This also leads to better space utilization on the road because other vehicles can utilize unused road space. These factors contribute to efficient traffic management, says a senior analyst at Technavio for research on automotive electronics.
Global automotive intelligent tires market: Segmentation analysis
This market research report segments the global automotive intelligent tires market by applications (passenger cars and CVs) and geographical regions (APAC, EMEA, and the Americas).
The CVs segment held the largest market share in 2017, accounting for over 99% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 50%. This region is expected to dominate the market through 2022, however, there will be a significant decrease in its market share amounting to over 10%.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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