Press release
Global Tire Pressure Monitoring System Market to Expand Alongside Rising Demand for Advanced Driver Assistance Systems (ADAS)
The demand within the global market for tire pressure monitoring systems has been escalating on account of the increased impetus given to vehicular safety over the past decade. Tire pressure monitoring systems refers to an electronic framework within vehicles that informs or warns the driver of fluctuation in the pressure of tires. These systems include a lighting system or pictorial display that is present on the dashboard of a vehicle, and this helps the driver in staying abreast of the tire pressure at all times. These systems are a part of advanced driver assistance systems (ADAS) and are swift in detecting an unusual increase and decrease in the tire pressure. It has been asserted by the automotive industry that the installation of tire pressure monitoring systems in cars can help in preventing accidents to a large extent. This is understandable because most of the accidents occur as a result of bursting of tires or due to excessive wear and tear in them. A report added by Market Research Reports (MRR) explains the reasons behind the boisterous growth of the global market for tire pressure monitoring system in recent times. The title of the report is “Tire Pressure Monitoring System for Automotive Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”.
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Maintaining proper tire pressure is not just necessary to prevent accidents but it also helps in increasing the life of the tires by reducing wear and tear. Due to this, reason, the demand within the global market for tire pressure monitoring system has been increasing at a robust rate in recent times. Furthermore, the braking distance of a car is substantially reduced once tire pressure monitoring systems are installed, and this is also an important consideration for automobile manufacturers. Since automotive safety has become a priority for several industries as well as governments, the demand within the global market for tire pressure monitoring system is projected to touch new heights. Enhanced fuel efficiency is amongst other advantages served by pressure monitoring systems, and this also creates a regular inflow of demand within the global market.
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Geographically, the splendid automotive sector in Germany, England, and France has been fortifying the market for tire pressure monitoring system in Europe. Furthermore, the attention given to driver safety across the US and Canada has led to the growth of the market for tire pressure monitoring system in North America. Besides these regional pockets, the market for tire pressure monitoring system in Asia Pacific has also been treading along a lucrative path over the past decade.
Some of the key players in the global tire pressure monitoring system market are Schrader-Bridgeport International, Inc., Denso Corporation, AVE technologies S.r.l., NXP Semiconductors, and Pacific Industrial Co. Ltd.
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