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Electronic-Tire Information Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

06-13-2018 07:29 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

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Electronic-Tire Information Systems Market: Global Industry

An electronic tire information system provides safety and driving comfort by monitoring precise condition of the tires. Manufacturers have developed a highly precise system that permanently monitors the tire pressure and alerts the driver while travelling. Consequently, the electronic tire information system eliminates the cause of accidents and enhances the safety. The electronic tire information system offers several benefits such as assist the driver to maintain correct pressure tire, provide advanced tire management with scalable features such as load monitoring, notification for winter/summer tire change, and tread depth monitoring.

Increase in demand for fuel efficiency, rise in concerns about vehicle safety, and high rate of adoption of latest technology in developed regions are likely to boost the electronic tire information system market during the forecast period. The system also helps prevent downtime and reduces repair cost. However, low penetration of the electronic tire information system in developing countries and other parts of world is likely to hamper the electronic tire information system market during the forecast period.

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The global electronic tire information system market can be segmented based on vehicle type, sales channel, and region. Based on vehicle type, the electronic tire information system market can be segregated into passenger vehicle and commercial vehicle. The passenger vehicle segment is expected to hold a major share of the electronic tire information system market owing to the rise in demand from consumers and increase in production of passenger vehicles across the globe, especially in developing regions owing to rapid urbanization, increase in per capita income, and lower bank interest rates.

The commercial vehicle segment is expected to expand rapidly owing to the high rate of adoption of advanced technology from fleet owners in order to maintain their fleet’s performance and to enhance fleet service. This, in turn, is likely to boost the market during the forecast period.

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Based on sales channel, the electronic tire information system market can be split into, OEMs and aftermarket. The OEM segment is likely to hold a major share of the market during the forecast period owing to the presence of brand companies such Continental AG and WABCO in the electronic tire information system market. Therefore, the aftermarket segment is likely expand at a rapid pace during the forecast period.

Based on region, the electronic-tire information system (eTIS) market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global electronic tire information system market, and it is estimated to maintain its dominant position in the market during the forecast period.

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Expansion of the luxury vehicle market, stringent safety norms, high rate of adoption of latest technology, and the presence of major manufactures are likely to drive the electronic-tire information system (eTIS) market during the forecast period. Similarly, Europe and Asia Pacific accounted for a major share of the global electronic tire information system owing to government initiatives, awareness among consumers, and increasing of sales of premium vehicles across the region are major factors responsible for growth during forecast period.

Key players operating in the global electronic-tire information system (eTIS) market include WABCO and Continental AG.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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