Report ID: SQMIG25B2019
Connected Tire Market Size, Share, Growth Analysis, By Offering(Hardware and Software), By Component(TPMS, Accelerometer sensors, Strain gauge sensors, RFID chips), By Propulsion(Electric, and ICE), By Rim Size(12-17 Inches, 18-22 Inches, and More than 22 Inches), By Vehicle type(Passenger Cars, and Commercial Vehicles), By Sales Channel(OEM, and Aftermarket), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25B2019 |
Region:
Global |
Published Date: August, 2024
Pages:
223
|
Tables:
88 |
Figures:
71
Connected Tire Market Dynamics
Drivers
Safety and Efficiency Demands
- One of the major drivers of the connected tire market is the increasing emphasis on safety and efficiency in the automotive industry. Connected tires provide real-time data on tire conditions, enabling proactive maintenance and reducing the risk of accidents due to tire-related issues. Additionally, they contribute to fuel efficiency and reduced emissions, aligning with the growing environmental consciousness among consumers and regulatory bodies.
Restraints
High Initial Costs
- A significant restraint in the adoption of connected tires is the high initial costs associated with these advanced technologies. The installation of sensors and communication systems in tires can be expensive, which may deter some consumers and fleet operators from embracing connected tire solutions. While the long-term benefits in terms of safety and efficiency are substantial, the upfront investment remains a key challenge for widespread adoption.
Connected Tire Market Report Snapshots
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