Intelligent power systems are beneficial in improving fleet management, as they help in dropping the prices of the tires, improve fuel efficiency, and decrease vehicle breakdowns. Moreover, it provides benefits like optimized fleet management, long lasting tires, fuel efficiency, less number of accidents, and decreasing the carbon dioxide emissions. The potential role of these types of tires might be the ability to offer tire-road information for vehicle control systems like advanced driver assistance systems (ADAS), in addition to autonomous driving systems, and intelligent transportation networks.
The automotive tires market is considered to be one of the booming sectors, which is anticipated to develop significantly in the coming future focusing more on customer security in addition to comfort and hence many organizations are expanding their market.
A factor which is emerging in the market that might gain traction in the global automotive intelligent tires market in near future is the acceptance of battery-less sensors for intelligent tires. Battery-less sensor chips are already in the advanced growth stages as well as these chips tap into small bleed-through power leakages in the circuits. Accordingly, these sensors get through the very-minimal power that ensures an inclusive lifetime service for the tires. Manufacturers are trying to provide connected cars with tires these days that have the capability to modify traction on the go. It depends on the condition of the roads in addition to the environment which results in the improved convention of connected cars. It is ultimately carrying forward the demand of intelligent tires. Additionally, the usage of battery-less sensors for these tires is one more significant factors predicting to gain acceptance in this market in the forecast period. Its costing exceeds the cost to equip a vehicle including direct TPMS, might limit the technology to further expensive vehicle niches. In the same way, with abundant availability of lower cost TPMS systems, motorists demanding to replace conventional tires might discover the intelligent options too costly. These tires are anticipated to mostly follow parallel market dynamics as tire-mounted sensors (TMS) or tire pressure measurement system (TPMS) in terms of supply chain, growth, and customer base.
The global automotive intelligent tires market is segmented on the basis of the region covering North America, Asia Pacific, Europe, and LAMEA. North America is anticipated to carry on performing well throughout the forecast period. The automakers now focus on the use of TPMS, owing to the strict regulations executed by the government to ensure the security of the passengers. This has led to a remarkable boost in the North American market of intelligent tires. It is expected that the Asia Pacific might have a prominent increase right through the forecast period. In the Asia Pacific, the requirement for direct tire pressure measurement system is anticipated to rise. The European market is anticipated to show healthy growth in automotive tire industry owing to the presence of giant automobile manufacturers like Germany.
The Goodyear Tire & Rubber Company, The Yokohama Rubber Co. Ltd., Continental AG, Michelin Corporation, Sumitomo Rubber Industries, Ltd., Hankook Tire Co., Ltd., Pirelli & C. S.p.A., Bridgestone Corporation., and others.
Bridgestone Corporation acquired Groupe Ayme in May 2017, which helps Bridgestone’s vision of retail to be a largest trusted provider of tyre as well as automotive service considering all business segment and helped them to get closer to the market. Similarly, The Goodyear Tire & Rubber Company acquired Ventech Systems GmbH, in November, 2017. It is a leader in automated tire inspection technology, from Grenzebach Maschinenbau GmbH that helps to assist its fleet services in regions like Europe and others globally.
Automotive intelligent tires market segmentation:
By Product Type:
• Inflatable Tires
• Solid Tires
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Africa
- South Africa
- Rest of LAMEA