India is witnessing a greater number of tire producers venturing into digital tire solutions. Major factors emphasizing the requirement for digital tire solutions is the requirement for growing the fuel efficiency, safety, and tire life. Basic procedure in digital tire ecosystem entails the diagnostic management, notification services, and final report generation. Like any other IoT solution for realizing the ecosystem there is a requirement for proper communication network and tire companies are making strategic relationship with telecom companies for delivering the connected solutions. During 2018, Continental tires partnered with Vodafone for its IoT based tire monitoring platform, Conti Connect. Conti Connect helps to safeguard the tire-related breakdowns by transmitting tire temperature and pressure data to a central web portal through the wireless network.
According to the report analysis, ‘Digital Tire Solutions Market in India By Type of
Vehicle (Truck, Bus, and Others), Components (Hardware, Software, and
Services), Type of Solution (TPMS and Fleet Solutions), and Region (North Zone,
South Zone, East Zone, West Zone, and Central Zone) - Forecast up to 2025’ states
that Bridgestone, Continental, Goodyear, Michelin, Tymtix, Garmin, WABCO, SKF,
Pragathi Solutions, PressurePro, Schrader TPMS Solutions, Huf Hulsbeck &
Furst, Omron and Denso are the key companies which presently working in the
digital tire solutions market more efficiently for registering the great value
of market share, keep maintaining the governing position, leading the highest
market growth, obtaining the competitive edge, and generating the highest
percentage of revenue by implementing the policies of profit making and
strategies of expansion, spreading the awareness connected to the applications
and advantages of digital tire solutions, analysing the strategies and policies
of government as well as contenders, increasing the features and benefits of
digital tire solutions, delivering the better customer satisfaction, decreasing
the associated prices of such, improving the qualitative and quantitative
measures of such and establishing the several research and development
programs.
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Based on the type of solution, the digital tire solutions market across India is segmented into TPMS and fleet solutions. TPMS is utilized for monitoring air pressure in pneumatic tires. Fleet solutions and services delivered by tire manufacturers comprising the constant inspection and maintenance for checking tread depth and damage. It entails the professional advice assisting customers for selecting the type of tires finest fit for their vehicles, weather conditions, load capacity, distance traveled, and fitting those tires.
By components, the digital tire
solutions market in India is classified into hardware, software, and services.
Hardware entails revenue created from the sale of tire sensors, yard reading
stations, and controlling devices. Software entails web portals and mobile
applications for monitoring and recording the tire statistics. It also entails
management tools for storing the inventory data involving rethreaded tires and
digital platform for handling all the tire-connected information. Services
entail installation, maintenance, and repairing services for the hardware and
software. Another foremost service delivered by tire producers are emergency
response services.
By region, the digital tire
solutions market in India is classified into North Zone, South Zone, East Zone,
West Zone, and Central Zone. South Zone is active in employing several fleet
management solutions and is predicted to be one of the foremost adopters of
digital tire solutions during the review period.
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Digital Tire Solutions Market in India
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