Asia Pacific Connected Tires Market was valued at USD 0.175 Million in 2021 and the market size is projected to grow at a CAGR of 67 % over the forecast period.
Tires that are connected are an important part of the Internet of Things (IoT) and are becoming more common. Consumers benefit from connected tires because they are equipped with sensors that make driving safer and more convenient. The sensors collect vital data and information that can be used to calculate vertical load in automobiles. The data generated by connected Tires can assist stakeholders in providing users with personalized and professional recommendations.
Introduction of Asia Pacific Connected Tires market:
Stellar Market Research report is a user-friendly library of a Asia Pacific Connected Tires market report database that provides comprehensive reports with in-depth analyses of market trends, segments, top investments, value chain, regional landscape, and competitive scenario.
Stellar Market Research's expert group published each insight presented in the report, which is derived from primary interviews with top officials from leading companies in the domain in question. The report's secondary data research methodology includes extensive online and offline research as well as discussions with industry experts and analysts. In the report, Asia Pacific Connected Tires market reports, industry trends on a macro level have been explained, which is expected to aid in determining an outline market landscape and potential future issues.
Asia Pacific Connected Tires Market Overview:
The report analyzes the current Asia Pacific Connected Tires market in depth and forecasts performance over the forecast period. The report profiles the key market criteria to assist stakeholders in making informed business decisions. The report provides an overview of the Asia Pacific Connected Tires market, highlighting standard topics and providing data that can be customized as needed. The report provides insight into the Asia Pacific Connected Tires market, which aids in understanding future product demand and competitiveness. Market Overview provides detailed information on market size, regional share, and market player benchmarking. The report assists in providing complete knowledge of the Asia Pacific Connected Tires market in order to redefine business strategies and fully utilize them.
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Asia Pacific Connected Tires Market Key players:
Sumitomo Rubber Ltd (Japan)
JK Tires (India)
Toyo Tires (Japan)
Bridgestone Corp (Japan)
Apollo Tires Ltd. (India)
Balkrishna Industries Limited (BKT) (India)
CEAT Limited.(India)
Cheng Shin Rubber Market Co. Ltd. (China)
Gajah Tunggal Tbk (Indonesia)
Asia Pacific Connected Tires Market Dynamics:
Self-driving technology and car-sharing are becoming the norms in the automotive industry. OEMs and aftermarket players are also working on Internet-connected smart tires. The growing popularity of self-driving cars and car-sharing is expected to increase the number of passenger vehicles on the road. Using data analytics, the information extracted from sensor-embedded connected tires will assist stakeholders in calculating total distance traveled and vehicle utilization. This data can be used by OEMs to provide value-added customer care for routine tire maintenance and repairs.
Asia Pacific Connected Tires Market Segmentation:
Tires with a diameter greater than 22 "In 2021, connected Tires accounted for approximately 34% of the market. Increased vehicle production and rising demand for high-rim-size-wheel passenger cars, predictive maintenance by haulage fleet owners to save operating costs, and growing demand for high clearance in SUVs and passenger cars are all expected to drive the segment forward throughout the forecast period. The > 22 "Because of the growing demand for predictive maintenance by haulage fleet owners to save operational costs, the category is expected to grow rapidly in rim size.
In 2021, the passenger car segment accounted for roughly 62% of the total connected Tire market share. Growing demand for luxury passenger cars, rapid industrialization, and increased passenger vehicle production and sales in developing countries such as India, China, and Indonesia, as well as increased consumer purchasing power, are expected to drive sector growth over the forecast period. During the forecast period, the market for passenger car applications will grow due to rising customer focus on improving comfort and ride quality, as well as supportive government programs for connected Tire in research and development centers.
Prime Reasons to purchase a Asia Pacific Connected Tires Market report:
The goal of the Asia Pacific Connected Tires market report is to help consumers to gain more information and a clearer understanding of the industry. The Asia Pacific Connected Tires market growth analysis includes development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status for international markets.
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Asia Pacific Connected Tires Market , North America Eco Fiber Market
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
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Mar 11, 2023
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