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.
Connected tires are significant part of Internet of Things (IoT) and becoming increasingly continuously. Connected Tires help consumers since they are fitted with sensors that make driving safer and more convenient. The sensors collect important data and information that can be used to compute the vertical load in cars. The data produced by connected Tires can help stakeholders provide users with personalised and professional suggestions.
Asia Pacific Connected Tires Market Scope:
Between 2022 and 2029, the industry for the Asia Pacific Connected Tires market is anticipated to develop at the fastest CAGR. Market approximations and estimations are provided in this study. This Stellar market research (SMR) study examines and analyses the trends, obstacles, and opportunities in the Asia Pacific Connected Tires Market. The purpose of this report is to provide a strategic overview of the Asia Pacific Connected Tires industry, including important submarket contributors, current growth trends, and future development projections. The SMR study includes a country-by-country segmentation as well as North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America. Analyses of the major competitive advantages, market positions, and strategic preferences of main industry actors are examined. Profiles of the top participants in the market are also provided, together with details on their most recent competitive victories, investments, strategic goals, and competitive environment.
Asia Pacific Connected Tires Market Overview:
Most PBS users cover shorter distances (about 2 kilometers) by bicycle. Located on public transport hubs in poorly connected areas, the PBS system helps extend the reach of these services by providing first and last mile connections. In addition, the PBS system provides affordable transportation to a wide range of users through innovative pricing models such as long-term subscriptions.
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Asia Pacific Connected Tires Market Dynamics:
In the automotive market, self-driving technology and car-sharing are becoming the norms. Similarly, OEMs and aftermarket players are developing Internet-connected smart tires. The rising popularity of self-driving cars and car-sharing is expected to result in increased use of passenger vehicles on the road. The information extracted from sensor-embedded connected tires will aid stakeholders in calculating the total distance travelled and vehicle utilization using data analytics.
Asia Pacific Connected Tires Market Segmentation:
The passenger car category accounted for roughly 62 % of the total connected Tire market share in 2021. Growing demand for luxury passenger cars, fast industrialization, and increased passenger vehicle production and sales in developing nations such as India, China, and Indonesia, as well as increased consumer purchasing power, are likely to drive sector growth throughout the forecast period.
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 Regional Analysis:
Europe, North America, Asia-Pacific, the Middle East and Africa, and South America are the five main geographic regions of the Asia Pacific Connected Tires market.
COVID-19 Impact Analysis on Asia Pacific Connected Tires Market:
COVID-19 has had an impact on the entire market, and when its effects are felt more widely in 2019 and 2020, they will also have an effect on the growth rate. In order to give trustworthy information and experiences to decision-makers, the COVID-19 problem is requiring businesses and organisations to manage risk and digitise operations. SMR's most recent research, opinions, and insights on the management challenges that matter most to businesses and organisations regarding the market support this.
Key Questions answered in the Asia Pacific Connected Tires Market Report are:
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Asia Pacific Connected Tires market , Asia Pacific Motorized Quadricycle Market
Indian consultancy company Stellar Market Research was established in 2018. It is an expert in providing clients with long-term planning and consultancy services to aid in their organisational transformation objectives.
Asia Pacific Connected Tires Market , Asia Pacific Connected Tires Market Size , Asia Pacific Connected Tires Market Share , Asia Pacific Connected Tires Market Growth , Asia Pacific Connected Tires Market trends
Nov 28, 2022
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