Tire Pressure Monitoring System (TPMS) Market PPT: Demand, Trends and Business Opportunities 2022-27

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Global Tire Pressure Monitoring System (TPMS) Market Research Report

2022-2027:

According to the latest report by IMARC Group, titled " Tire Pressure Monitoring System (TPMS) Market: Global Industry Trends, Share, Size, Growth, Opp ortunity and Forecast 2022-2027

," the global tire pressure monitoring system market size reached US$ 5.6 Billion in 2021. A tire pressure monitoring system (TPMS) refers to an electronic system that monitors the air pressure present in a vehicle’s tire and reflects the reading on the display screen in real-time. It also depicts the derived data in the form of a pictogram display. These solutions aid the drivers in analyzing the potential risks associated with the changes in the pressure and temperature of tires. The widespread utilization of these systems offers enhanced convenience to the driver while significantly improving vehicle safety as well as a reduced number of injuries as a result of lower incidences of road accidents.

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Global Tire Pressure Monitoring System (TPMS) Market Trends:

The global market is primarily driven by considerable growth in the automotive sector. With the inflating per capita income levels of the masses and the escalating adoption of electric vehicles (EVs), there has been a rising preference towards the utilization of advanced driver-assistance systems (ADASs) to ensure optimum safety. TPMS forms an essential part of the ADASs as it employs innovative sensors to gather precise pressure information from the tire valves to display the same in real-time, thereby creating a positive outlook for the market. The market is further driven by continual technological advancements in the market, including the widespread integration of energy harvesting and display systems with TPMS to provide data and insights about the performance health of the vehicle. Moreover, numerous governing agencies are also mandating the installation of TPMS in vehicles in an attempt to minimize the incidences of road accidents, which is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the growing consumer awareness regarding the importance of using TPMS in their vehicles and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 9.77% during 2022-2027.

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Report Description Key Questions Answered in the Report

1. How has the global tire pressure monitoring system (TPMS) market performed so far and how will it perform in the coming years? 2. What has been the impact of COVID-19 on the global tire pressure monitoring system (TPMS) market? 3. What are the key regional markets? 4. What is the breakup of the market based on the type? 5. What is the breakup of the market based on the technology? 6. What is the breakup of the market based on the vehicle type? 7. What is the breakup of the market based on the distribution channel? 8. What are the various stages in the value chain of the industry? 9. What are the key driving factors and challenges in the industry? 10. What is the structure of the global tire pressure monitoring system (TPMS) market and who are the key players? 11. What is the degree of competition in the industry?

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