Transparency Market Research in its new report titled, “Electronic-Tire Information Systems (eTIS) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the electronic-tire information system (eTIS) market. The TMR report anticipates that the increase in demand for fuel efficiency, rise in concerns about vehicle safety, and high rate of adoption of latest technology in developed regions will drive the electronic-tire information system (eTIS) market during the forecast period i.e, 2018-2026. 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, says the report.
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. 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 (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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