Automotive Tire Analytics Market Introduction
Automotive tire analytics is a solution for the maintenance of the tire, which helps tire regarding replacement and other aspects. Tire analytics generates data that helps the driver to analyze the issue associated with tire before it is likely to occur.
Automotive Tire Analytics Market – Innovation Stats That Prove The Power Of Customer Experience
Automotive Tire Analytics Market – Competitive Landscape
Dana Inc. is a major player in the field of automotive tire analytics. Other potential players for the market include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Sensata Technologies, Inc., and many other tire manufacturers such as Yokohama Tires, JK Tyres, Apollo Tyres, and CEAT Ltd.
Dana Inc. developed a solution for tire analytics, named Rhombus TireAnalytics Solution. It is a cloud-based platform that enables fleet maintenance managers and commercial truck owners to adopt the finest practices for maintenance of the tire and tire lifecycle management optimization. Rhombus TireAnalytics solution offers understandings of trailer and tractor tires that assist in the analysis and identification of trends of tire wear and forecast repair problems that can be directed preventively to reduce truck downtime and create scheduled replacement with optimal timeframes.
Robert Bosch GmbH
On August 21, 2018, Robert Bosch GmbH signed an agreement with Ceres Power Holdings plc. for technology development and manufacturing, and to acquire 4% equity stake in Ceres Power Holdings plc.
On August 11, 2018, Robert Bosch and Daimler partnered to develop Drive Pegasus platform by AI computing company NVIDIA. The ECU network is likely to be integrated into battery cells’ cooling circuit.
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ZF Friedrichshafen AG
In February 2018, ZF Friedrichshafen AG announced a joint venture with Anhui Heli Co., Ltd., China. Heli is China-based construction equipment manufacturing company.
In November 2017, ZF Friedrichshafen AG expanded its development facilities for autonomous driving. 20 software developers are expected to develop advance technology such as driving assistance, integrated vehicle safety, and autonomous driving.
Automotive Tire Analytics Market Dynamics
Implementation of norms that mandate tire analytics for vehicle safety
Governing bodies and authorities working for the development of vehicles and improvement of driving conditions for drivers and passengers are enacting stringent norms on vehicle manufacturers to improve safety features in their vehicles. Tire analytics is a safety solution that helps in tire maintenance and replacement. A series of vehicle accidents caused due to bad tires in the early 2000s prompted legislators in the U.S. to include tire maintenance system/ solution as part of its TREAD Act legislation, which was intended to address growing driver safety concerns. Presently, in the U. S., all new vehicles are provided with tire analytics. According to United Nations regulation UNECE-R64, countries and sub-regions in Europe adopted a legislation about tire maintenance system, such as tire analytics, for new vehicle models, which began from the end of 2012, and also for all vehicles from November 2014, primarily for environmental reasons.
Increase in safety standards and rising concern about vehicle safety
Systems that provides safety and ADAS are currently equipped with key modules such as cameras, electronic control unit (ECU), and sensors. Such safety systems inspect the condition of the road and alert drivers about probable risks, thereby helping avoid accidents. In developed countries, there has been rise in consumers who choose more advanced safety modules, such as stability control and cruise control, tire pressure monitoring system, and tire analytic solution.
Introduction of tire analytics by vehicle associations
Consumers are availing the solution for the vehicle from associations providing the service at local level, which is much cheaper than the service provided by OEMs. This, in turn, is likely to boost the automotive tire analytics market.
Rising vehicle miles driven increases the frequency of tires maintenance. This, in turn, is likely to boost the automotive tire analytics market.
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Automotive Tire Analytics Market Segmentation
Based on sales channel, the automotive tire analytics market can be bifurcated into:
Based on vehicle type, the automotive tire analytics market can be classified into:
- Passenger Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Bus & Coaches