GAITHERSBURG, Md., Aug. 6, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Automotive Intelligent Tire And Sensor Market is expected to grow at a CAGR of 10.8% during the forecast period.
Some of the key players profiled in the Automotive Intelligent Tire And Sensor Market include ZF Friedrichshafen AG, Tymtix Technologies, NXP Semiconductors N.V., The Goodyear Tire & Rubber Co., Schrader TPMS Solutions, Revvo Technologies Inc., Pirelli & C. S.p.A., Nexen Tire Corporation, Michelin, Infineon Technologies AG, Hankook Tires, Denso Corporation, Continental AG, Bridgestone Corporation, and The Yokohama Rubber Company, Limited.
Some of the factors boosting the market are rising push from governments as well as consumers to ensure road safety, the need for cost-effective tire maintenance, and increased vehicle data for connected vehicles. However, the lack of standardization for tire-pressure monitoring system sensors is hampering the growth of the market.
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Automotive intelligent tire and sensor are very useful in improving fleet management, as they help in decreasing the expenses of the tires, upgrade fuel efficiency as well as limit vehicle breakdowns, thereby offering advantages like fuel efficiency, long-lasting tyres, less number of accidents, optimised fleet management, and minimising the carbon dioxide emissions.
Based on the vehicle type, the commercial vehicle segment is going to have a lucrative growth during the forecast period due to the increased production of commercial vehicle and demand for better tire performance in commercial vehicles.
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By geography, North America is anticipated to hold considerable market share during the forecast period due to the strict regulations implemented by the government to ensure the safety of the passengers.
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Vehicle Types Covered:
Sales Channels Covered:
Original Equipment Manufacturers (OEM)
Middle East & Africa
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