Market Highlights
With technology advancements, the race is on to develop smart or intelligent tires that rely on IoT connectivity to offer and deliver enhanced safety, more durability, increased fuel efficiency, and improved vehicle performance. Furthermore, governments across the globe studied and suggested that one in 12-14 tires on heavy commercial vehicle is dangerously under-inflated which may cause severe accidents.
Prominent tire manufacturers are experimenting with software platforms and IoT-connected sensors to monitor and measure tire performance. The launch of ContiConnect by Continental AG has offered new digital tire monitoring platform for fleet owners in Canada, Mexico, Thailand, and U.S. and to introduce to Europe and Asian market by 2019.
Smart Tire Market Research Methodologies
The analysts of the Smart Tire Market adopt advanced decision science approaches to identify current growth avenues and quantify them according to various segments relevant to the industries analyzed in the study. The team is always keen on adopting the most suitable business research methodologies to obtain and analyze customer data—a mix of primary and secondary research--including surveys, focus groups, and qualitative analysis to throw light on the market. As a result, the readers and other market participants can obtain all-inclusive insights on analyzing the external and internal environments shaping the marketing strategies.
Value Chain Analysis of Smart Tire Market: External & Internal Environment
The changing policy frameworks including monetary policies of governments and financial landscape exert a strong influence on the investments and R&D funding in the Smart Tire market. Together with this, the insights in the study present a deep-dive analysis of technological developments, ecological environment, and political and economic risks. The evaluation of the industry value chain also includes how social and cultural factors have shaped consumer behavior in the Smart Tire market.
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Smart Tire Market: Strategies to Generate Customer Value
The MRFR report on the Smart Tire market presents an in-depth evaluation of the potential revenue size in key consumer and industrial segments. The report by MRFR analysts takes a closer look at vertical and horizontal marketing strategies that will boost the profitability metrics of the companies in the Smart Tire market. The study also scrutinizes distribution channel strategies while analyzing competitive strategies by leading companies in Smart Tire market.
Some of the key questions scrutinized are
• Which are some of the market nicher and follower strategies that positively impact demand in the Smart Tire market?
• What are some of the mergers and acquisitions and strategic alliances in recent years which have opened up new revenue streams in the Smart Tire market?
• Which demographics-based segmentation should new entrants focus on to enter the Smart Tire market?
• What are some of the strategic alliances between companies that have impacted the intensity of competition in the Smart Tire market?
Global Smart Tire Market Growth: Identifying and Analyzing Lucrative Regions and Countries
The business intelligence study on the Smart Tire market identifies lucrative regions, emerging markets, and the key dynamics impacting the channels of distribution across the globe. The study presents the share of some of the developing and developed regions in the global Smart Tire market. The authors have analyzed some of the recent policy changes that may hinder the growth potential of key Smart Tire markets.
Key Players
The prominent players in the global Automotive Smart Tire Market include The Goodyear Tire & Rubber Co (USA), Michelin Group (France), NEXEN TIRE Corporation (Korea), Continental AG (Germany), Bridgestone Corporation (Japan), Sumitomo Rubber Industries, Ltd. (Japan),and Pirelli & C. S.p.A. (Italy) among others.
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