Smart Tire Safety Monitor Market Status and Forecast, by Players, Types and Applications
The majority of automobile drivers do not sufficiently maintain tire pressure which can affect the efficiency and balance of the vehicle. To avoid such problems, smart tire safety monitor system is used. It is an electronic device that warns the driver when one or more tires are significantly inflated. In addition, it detects slow leak of air from tire, provides real time tire pressure data, and are easy to install. The system consists of three elements namely, a small on board receiver (that is present in the vehicle), 4 sensors modules (each of one tire), and the smartphone application. A sensor module is small in size and it is mounted on valve of a tire. It sends the real time feedback of tire’s condition wirelessly to the receiver and immediate notifications of various problems are popup to the smartphone connected to the receiver. The tire sensors are available with 4 nuts to keep sensors safe on the tires and to prevent it from theft. The use of smart tire safety monitor system is helpful to increase the life of vehicle tire, fuel economy, and reduce the possibility of accidents.
One of the major driving factor for the growth of global smart tire safety monitor market is increasing use of this system in automobiles for safety of the vehicle and to monitor the air pressure inside the tire. Most of the time it is difficult to identify air pressure in underinflated tires as greater area of the tire is in contact with road, which results in higher friction between tire and the road. Incorporation of smart tire safety monitor system contributes to improve the safety technologies in automobiles, as this system provide real time tire pressure data to increase the tire life and fuel economy.
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Moreover, the use of this system offers advantage that is to reduce the probability of accidents on roads, as smart tire safety monitor system sends an immediate notification to smartphones connected to its receiver about decrease in air pressure in a tire or about increase in temperature of tire due to friction between the road and tire. Considering the advantages offered by the system, demand for smart tire safety monitor market is expected to show significant growth during forecast period. Furthermore, the government of the United States in 2008, and European Union in 2012, imposed orders for all passenger car manufacturers to manufacture new release of cars equipped with tire pressure measuring system.
Hence, increase in release of policies in favor of adoption of smart tire safety monitor system by governments of various countries across the globe is anticipated to boost smart tire safety monitor market in coming years. However, the smart tire safety monitor system consist of replaceable lithium ion battery, which offers only for 3 hours of driving per day, is expected to be the major restraining factor for global smart tire safety monitor market. However, the impact of battery life is anticipate to be of low magnitude owing to the continuous advancements in the battery technology.
The global smart tire safety market has been segmented based on vehicle type, and region. Based on vehicle type, the global smart tire safety monitor market can be classified into commercial vehicles, recreational vehicles, and industrial vehicles. The commercial vehicles can be further bifurcated into medium duty, and heavy duty commercial vehicles. Additionally, based on geography, the market is further segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Some of the key players operating in the global smart tire safety monitor market with significant developments include Nonda, Doran Manufacturing, LLC, Huf Hulsbeck & Furst GmbH & Co. KG, Schrader-Bridgeport International, Inc., Continental AG, Unimeck, and Myport Services India among others.