According to the report analysis, ‘Asia Pacific Automotive Smart Tire Market 2020-2030 by Product (Connected Tire, Intelligent Tire/TPMS), Engineering Technology (Pneumatic, Run-Flat, Non-Pneumatic), Vehicle Type (Commercial, Passenger), Vehicle Propulsion (Conventional, EV), Distribution Channel (OEMs, Aftermarket), and Country: Trend Forecast and Growth Opportunity’ states that Asia Pacific Automotive Smart Tire market is estimated to dominate the market growth during the forecast period owing to escalating demand for the electric vehicle, the rapid emergence and innovation of autonomous and connected vehicles, as well as the growing acceptance of artificial intelligence (AI) and 5G network.
Bridgestone Corporation, Continental AG, Hankook Tire & Technology Co., Ltd., Infineon Technologies AG, JK Tyres & Industries Ltd., Michelin Group, Nexen Tire Corporation, Nokian Tyres Plc., NXP Semiconductors, Pirelli & C. S.p.A, Revvo Technologies, Inc., Schrader TPMS Solutions, Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Co., The Yokohama Rubber Company, Limited, Toyo Tire Corporation, Yokohama Rubber Co., Ltd. and many more are the foremost entities which recently working in the Asia Pacific Automotive Smart Tire Market more proficiently for registering the great value of market share, keep maintaining the governing position, obtaining the competitive edge, generating the highest percentage of revenue and leading the highest market growth by increasing the features and benefits of automotive smart tire, analysing the policies and strategies of government as well as contenders, establishing the several research and development programs, spreading the awareness connected to the applications and advantages of automotive smart tire, implementing the policies of profit making and strategies of expansion, improving the qualitative and quantitative measures of such, and delivering the better customer satisfaction.
The efficient augment in integration of advanced features in a vehicle, including connected tires and tire pressure monitoring system to avoid interruption of vehicle, is likely to augment the demand for smart tires across the Asia Pacific. The prominent augment in integration of sensor systems in vehicle tires, which proposes the real-time data analysis for vehicle users, is prospective to fuel the demand for such tires. Foremost tire manufacturers are investing in technological progress, including B-Tag Systems, to monitor tire pressure and temperature. The system alerts the driver about the maintenance of tires to avoid operative down time. This is projected to propel the automotive smart tire market across the Asia Pacific.
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The effective growth in use of artificial intelligence in vehicle tires, such as rim management system and Tread Stat, supports track the performance of tires. Major tire manufacturers are participating on research and development to develop new tire material coupled with unconventional technology such as nanotechnology to decrease heat buildup. This is projected to boost the automotive smart tire market across the Asia Pacific.
Asia Pacific is anticipated to hold a foremost share of the global automotive smart tire market owing to an augment in the demand for luxury vehicles across the region. The prominent augment in government initiatives and productivity around the region is probably to propel the automotive smart tire market across Asia Pacific. Speedy expansion of manufacturing industries across the region is probable to boost the distribution channel of tires across Asia Pacific. This, in turn, is estimated to propel the automotive smart tire market in Asia Pacific.
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Asia Pacific Automotive Smart Tire Market Competition
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