The global automotive smart tire market was valued at USD 77.29 billion in 2020 to USD 117.75 billion by 2027, at a CAGR of 6.20% from 2021 to 2027Below information is analyzed in depth in the report-
Global Automotive Smart Tire Market Revenue, 2018-2023, 2024-2033, (US$ Millions)
Global Automotive Smart Tire Market Sales Volume, 2018-2023, 2024-2033, (Units)
Share of the top five Automotive Smart Tire companies in 2023 (%)
Market Growth Mapping
Qualitative and quantitative methodologies were utilized in the process of market growth mapping. The report offers an extensive examination of market dynamics, including a thorough assessment of the primary factors that drive market expansion, challenges encountered by industry participants, and forthcoming trends that indicate recent development. Prospects for investment and expansion are discerned via a comprehensive SWOT analysis, which evaluates the market’s strengths, weakness, opportunities, and threats. The PESTEL analysis, which investigates the technological, environmental, political, economic, and social factors that influence the industry, provides additional depth of analysis. Furthermore, the report incorporates an analysis of PORTER'S 5 forces, which provides valuable perspectives on the sector's profitability and competitive intensity. Moreover, the report covers regulatory landscape, COVID-19 impact analysis, customer sentiment and behavior, trade analysis, supply-demand analysis, and the influence of government policies and other macroeconomic factors.
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Automotive Smart Tire Market Segmentation:
This study offers a thorough segmentation of the Automotive Smart Tire market based on an in-depth examination of the product portfolios and customers of key regional and global market players. By means of a comprehensive examination, we offer detailed perspectives on market segmentation, assisting stakeholders in comprehending the diverse aspects and variables that impact the Automotive Smart Tire market.
By Application Outlook (Revenue, 2017-2027, USD Billion)
Passenger Vehicle
Commercial Vehicle
By Product Outlook (Revenue, 2017-2027, USD Billion)
Connected Tires
Intelligent Tires
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The key companies covered in the market report are:
The global automotive smart tire market is fragmented into a few significant players, and other local, small, and mid-sized manufacturers are Continental AG, The Goodyear Tire & Rubber Co., Bridgestone Corporation, Michelin, Pirelli & C. S.p.A, Sumitomo Rubber Industries Ltd., Hankook Tire & Technology Co., Ltd., The Yokohama Rubber Company, Limited, Nokian Tyres Plc, Toyo Tire Corporation, JK Tyres & Industries Ltd., and Revvo Technologies, Inc. These manufactures have generated the maximum market share in 2020. These market players are adopting growth strategies to strengthen their position in the market. Product launches and partnerships are the key growth strategies adopted by different key players in the market.