The report highlights the current impact of COVID-19 on the Automotive Smart Tire Market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Automotive Smart Tire Market according to the impact of COVID-19.
The global automotive smart tires market size reached USD 76.78 billion in 2020 and is expected to register a revenue CAGR of 6.6% during the forecast period, according to latest analysis by Emergen Research. Increasing usage of 5G technology in smart tires is expected to support market revenue growth between 2021 and 2028. Besides, increasing usage of new and more advanced tire materials that can evaluate real-time monitoring of tire conditions will boost revenue growth of the market. Currently, demand for 5G automated technology and tire pressuring monitoring systems for automotive smart tires has increased significantly. Many companies are combining strategies to sustain in the competitive market.
The report sheds light on the minute details of the Automotive Smart Tire Market industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2027. Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer.
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Asia Pacific is expected to register a significantly rapid revenue growth rate over the forecast period due to steady economic growth, increasing demand for connected cars, rising urbanization and population growth, and introduction of various road safety regulations by governments in countries in the region.
Covid 19 impact :
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Automotive Smart Tire Market business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Automotive Smart Tire Market growth assessed on both regional and global levels.
Key participants include General Continental AG, Bridgestone Corporation, The Goodyear Tire & Rubber Co., Sumitomo Rubber Industries Ltd, Pirelli & C. S.p.A., Toyo Tire Corporation, Nexen Tire Corporation, JK Tyre Corporation Ltd., Maxxis International, and Interco Tire Corporation.
One of the report’s central components is the broad Automotive Smart Tire Market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period.
The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Automotive Smart Tire Market players.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8-year analysis of the Global Automotive Smart Tire Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
Emergen Research has segmented global automotive smart tire Market on the basis of vehicle type, features, technology, distribution Channel, and region:
Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
Heavy Duty Truck
Features Outlook (Revenue, USD Billion; 2018–2028)
Tire Pressure Monitoring System (TPMS)
Technology Outlook (Revenue, USD Billion; 2018–2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
Original Equipment Manufacturer (OEM)
Automotive Smart Tire Market Key geographical areas:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Automotive Smart Tire Market segments
1.3 Automotive Smart Tire Market Major players
1.4 Automotive Smart Tire Market analysis by product
1.5 Automotive Smart Tire Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Automotive Smart Tire Market size
2.2 Latest Automotive Smart Tire Market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Automotive Smart Tire Market key players
3.2 Global Automotive Smart Tire Market size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the In-vehicle infotainment Market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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