Fact.MR has published a new study titled "Automotive Tire Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022", which sheds light on the overall market scenario prevailing in the automotive tire sector. Based on this assessment, the automotive tire market is likely to register steady growth during the forecast period until 2022. Some of the prime facets motivating revenue growth in the global automotive tire market include enhanced tire performance, launch of innovative products and surging tire production.
Technological Innovations to Steer Market Propagation
Looking at the global automotive tire market, technological progressions are expected to aid manufacturers to update their production process and thereby adapt with the changing consumer demands. In addition, the implementation of sophisticated technology is helping to elevate the mechanism for manufacturers for heightening the supply chain and receive maximum profitability.
Inclination toward Smart Tires Host Fresh Avenues for Manufacturers
According to this intelligent Fact.MR study, exploration toward the development of smart tires is likely to introduce new opportunities across the automotive tire market. Several automotive tire manufacturers have started to embed sensors into tires with a purpose to monitor the prevalent driving conditions and thereby manufacture tires which can suitably adapt autonomously to the researched conditions.
According to AudienceSCAN, 36.5% of Traditional Car Owners own smart TVs, 14.5% own voice-activated smart speakers and 11.9% own smartwatches. Why wouldn't they want their cars to have more smart features as well?
Sustainable Manufacturing Methods Expected to Impact Tire Production
It has been observed that rising environmental concerns fused with extended governmental support toward sustainable manufacturing is likely to influence tire production. The concentrated investments from Original Equipment Manufacturers (OEM) into research and development for sustainable materials and production techniques is gaining pace, which thereby tends to support the overall automotive tire market.
Smart and sustainable tire retailers can promote their wares to Traditional Car Owners through digital advertisements. Last year, according to AudienceSCAN, these shoppers took action after receiving email ads (49.3%), seeing ads in both digital and print newspapers (49%), seeing ads on daily deals sites such as Groupon (47.4%) and finding ads in both digital and print magazines (46.1%). Don't be afraid to mix in traditional advertisements, though. These shoppers are 14% more likely than others to take action after seeing outdoor ads and, last year, 62.9% took action after seeing TV commercials.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. Media companies and agencies can access AudienceSCAN data through the AudienceSCAN Reports in AdMall.