In recent days, adoption of artificial intelligence and smart technology is being incorporated into automobiles and tires. Sensors in advanced tires are being installed to identify threats and react to changes in environment. The sensors installed in the advanced tires measure various variables and forward them to the driver, vehicle's onboard systems or to the driver's mobile. In addition, companies are offering few next generation advance tire applications for passenger car tires, and it is anticipated that in coming years premium tires will provide more driver assistance solutions.
The market is anticipated to witness a significant growth over the years, owing to the increase in automobile production.
The global advanced tire market is segmented on the basis of material type, type, technology, vehicle type, and region. By material type, the market is divided into natural rubber, synthetic rubber, steel, elastomers, and others. By type, it is classified into pneumatic tires, run flat tires, airless tires, and others. By technology, the market is categorized into chip embedded tires, self-inflating tires, multi chamber tires, all in one tire, and others. By vehicle type, the market is classified as light duty vehicles, heavy duty vehicle, agricultural tractors, construction & mining equipment, and industrial equipment. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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