London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global TPMS market 2015-2019, which is expected to grow at a CAGR of 15.71% during the forecast period of 2014-2019.
The market is predominantly driven by the growing demand for safety solutions, especially driver assistance systems, and by the increase in the production and demand for automobiles. The implementation of stern safety regulations by governments, especially on the usage of TPMS in automobiles (as per the TREAD Act), for reducing the rising number of accidents, will also propel the market growth in the forecast period.
“The demand for and adoption of direct TPMS is constantly increasing among consumers because of the ease provided by these systems, i.e., automatically resetting as and when tires are inflated or rotated (with the presence of pressure sensors),” says Faisal Ghaus, Vice President of Technavio.
Key Market Drivers
- Increasing Government Safety Regulations
- Rise in Number of Accidents
- Advantages of TPMS
Key Market Trends
- Escalating Demand from Emerging Markets
- Increased Adoption of Direct TPMS
- Growing Demand for Aftermarket TPMS
Key Market Vendors
- Continental AG
- Pacific Industrial Co.
- Schrader Electronics Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
