Disposable Gloves Market during 2021-2027

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Automotive Smart Tire Market, By Product,
Trend Analysis, Market Share Forecast,
2020-2027
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Industry Trends Forecast Report 2027 A recent
study conducted by the strategic consulting and
market research firm BlueWeave Consulting revealed
that the global automotive smart tire market was
worth USD 78.3 billion in the year 2020. The
market is further estimated to grow at a CAGR of
6.2, earning revenue of around USD 118.6 billion
by the end of 2027. One of the main factors
driving the growth of the global automotive smart
tire market is the rapid emergence and
advancement of autonomous and connected vehicles,
as well as the increasing adoption of artificial
intelligence (AI) and 5G networks. The lack of
strict regulations that negatively impact smart
tire and sensor prices may, however, hinder the
growth of this market.
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Growth drivers Growing Trend of Shared Vehicle
and Automated Maintenance Alerts From the
perspective of the environment, sharing vehicles
are benefiting urban cities as it helps in
reducing carbon emissions per head. This is a
primary factor that is creating immense growth
opportunities for the global automotive smart
tires market. This is because automatic route
planning, error reporting, and servicing benefit
the smart sensors fitted in the shared vehicles.
These sensors self-report the issues to a
cloud-based system so that preventive maintenance
and repairs can be performed.
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Restraints Lack of Standard Regulations and Price
Policy Smart tires and sensors for vehicles are
very expensive and difficult to deal with, which
poses a restriction on the growth of the global
automotive smart tire market. Even though tire
pressure monitors are a mandatory feature in
several countries, the adoption of automotive
smart tires is still restricted among the elite.
This is because of the lack of standard
regulatory policies for the technology
automakers, which allows them to control the
price.
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Impact of COVID-19 on Global Automotive Smart
Tire Market The global automotive smart tire
market was tremendously hit by the COVID-19
pandemic. In the wake of the nationwide lockdowns
imposed by several countries to check the spread
of the virus, the automobile industry was among
the most severely affected. Due to social
distancing protocols and labor shortages,
automobile manufacturing and production
activities were completely restricted.
Consequently, automakers suffered severe losses
as a result of a sharp decline in sales of
automotive smart tires and sensors. Also, the
restrictions on imports and exports affected the
distribution channels, although manufacturing
activities had resumed after the lockdown
restrictions were lifted.
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Global Automotive Smart Tire Market - Regional
Insights Geographically, the global automotive
smart tire market is segmented into North
America, Europe, Asia-Pacific, Latin America,
Middle-East Africa. Among all the regions,
Europe accounts for the largest market share
because of the presence of several leading luxury
automobile manufacturers like Ford,
Mercedes-Benz, Porsche, Volkswagen, etc., which
are increasingly adopting advanced technology
like automotive smart tires into their products.
Furthermore, the strong economic foothold and
high disposable income of people belonging to
this region also play a crucial role in fueling
the growth of the automotive smart tire market.
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Competitive Landscape The leading market players
in the global automotive smart tire market are
Continental AG, Bridgestone Corporation,
Michelin, The Goodyear Tire Rubber Co., Pirelli
C. S.p.A, The Yokohama Rubber Company, Limited,
Hankook Tire Technology Co., Ltd., Nokian Tyres
Plc., Toyo Tire Corporation, Sumitomo Rubber
Industries, Ltd., JK Tyres Industries Ltd.,
Revvo Technologies, Inc., NXP Semiconductors,
Schrader TPMS Solutions, Infineon Technologies
AG, Titan International Inc., Maxxis
International, and other prominent
players. Sample Copy of the Report
https//www.blueweaveconsulting.com/report/global
-automotive-smart-tire-market/report-sample
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