North America Connected Tires Market opportunities, developments and forecast 2027

Customers benefit from connected tires because they include sensors that make driving safer and easier. Sensors collect vital data and information that can be used to calculate vertical load in automobiles. Through sensors, the connected Tire sends data to the car's infotainment system, allowing access to data such as Tire pressure, operating status, and Tire life. The linked Tire's primary functions are to monitor, evaluate, and display data.

North America Connected Tires Market Report Scope and Research Methodology

The objective of the report is to present a comprehensive analysis of the North America Connected Tires market including all the stakeholders of the industry. The past and current status of the North America Connected Tires industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. It covers all the aspects of the North America Connected Tires industry with a dedicated study of key players that includes market leaders, followers and new entrants. External as well as internal factors that affect the business positively or negatively have been analysed in the North America Connected Tires market report. The report also helps in understanding global North America Connected Tires market dynamics and market structure by analysing the market segments and forecasting the global market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the global North America Connected Tires market make the report investor’s guide. PORTER, PESTLE analysis with the potential impact of micro-economic factors of the market have been presented in the North America Connected Tires Market report.

North America Connected Tires Market Overview

North America Connected Tires Market Research Report investigated the current state of definitions, classifications, applications, and industry chain structure. The North America Connected Tires market analysis provides objective professional commentary on the current market scenario, prior market performance, production and consumption rates, demand and supply ratios, and forecasted income generation for the projected period. The North America Connected Tires market study also includes information on the strategic ambitions and company growth strategies of the industry's leading businesses. To summarize, the report provides an in-depth analysis of the North America Connected Tires market on a global and regional scale.

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North America Connected Tires Market Key Players

Goodyear Tire & Rubber Company (U.S)
Cooper Tire & Rubber Company (US)
Michelin (Canada)
Bridgestone (Canada)
Canadian Tire (Canada)
Continental (Mexico)
Pirelli(Mexico)

North America Connected Tires Market Dynamics:

Market Drivers: Self-driving technology and car-sharing are becoming more common in the North American connected tire market. OEMs and aftermarket companies are also developing Internet-connected smart tires. As self-driving cars and car-sharing become more common, the use of passenger vehicles on the road is expected to rise. Using data analytics, stakeholders will be able to calculate overall distance traveled and vehicle usage using data retrieved from sensor-embedded connected Tires. OEMs can use this data to provide value-added tire maintenance and repair services to their customers.

North America Connected Tires Market Segmentation:

Tires larger than 22 in diameter "In 2021, connected Tires accounted for approximately 30% 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 rising demand for high clearance in SUVs and passenger cars are all expected to boost the segment over the Forecast period. The > 22 "The haulage fleet owners' increased demand for predictive maintenance to save operational costs is expected to drive rapid growth in rim size. Larger rim sizes are preferred in passenger cars because they are more aesthetically pleasing, and sales of vehicles with high clearance levels are increasing.

In 2021, the passenger car segment accounted for approximately 62% of the total connected Tire market share. Growing demand for luxury passenger cars, rapid industrialization, increased passenger vehicle production and sales in developing countries, and increased consumer spending power are expected to propel the sector forward during the forecast period. Increasing customer focus on improving visual appeal, improving comfort and ride quality, and supporting government programs for connected Tire in R&D institutes will drive the market for passenger car applications to grow over the forecast period. Because of the widespread use of Connected Tires in exotic, luxury, and premium vehicles, the passenger vehicle category is expected to drive significant growth in the North American connected Tire market. By increasing the use of connected Tires in automobiles, the introduction of shared mobility and ride-hailing services is expected to improve the passenger car segment.

North America Connected Tires Market Regional Insights

Each regional North America Connected Tires market is thoroughly studied to determine its current and future growth prospects. This information helps clients to grow their businesses. The North America Connected Tires market report covers all five regions and their country-wise distribution. Their North America Connected Tires market size and trends are also included in the report.

Key Questions answered in the North America Connected Tires Market Report are:

• What is the growth potential of the North America Connected Tires Market?
• What was the North America Connected Tires Market size in 2021?
• Which segment held the largest North America Connected Tires Market share in 2021?
• What is the CAGR of the North America Connected Tires Market?
• What are the global trends in the North America Connected Tires Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the North America Connected Tires Market?
• What growth strategies are the players considering increasing their presence in the North America Connected Tires Market?

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