(TPMS) Tire Pressure Monitoring System Market: 14.94% CAGR To 2020

ReportsnReports.com adds Global Tire Pressure Monitoring System Market 2016-2020 latest research report; this analyst forecast the global tire pressure monitoring system market to grow at a CAGR of 14.94% during the period 2016-2020.

December 1, 2016 /MarketersMedia/ —

The global tire pressure monitoring system market analyst says one of latest trends in the market is development of powerful MEMS sensors and speed sensing instruments for accuracy and precision. Sensor technology has played a crucial role in the design and development of ADAS as they form a fundamental part of the systems. Sensors and processors are the primary system components that perform the function of monitoring and processing of the vehicle data. A few automotive players are working on new tire pressure monitoring technologies that use micro-electromechanical systems (MEMS) sensors that are designed to accurately measure the pressure and temperature in the tire.

Complete report on tire pressure monitoring system market spread across 53 pages, analyzing 5 major companies and providing 19 data exhibits are now available at http://www.reportsnreports.com/reports/769806-global-tire-pressure-monitoring-system-market-2016-2020.html

According to the tire pressure monitoring system market report, one of the primary drivers in the market is reduction in fuel consumption and carbon emissions from vehicles. Advance automotive technologies are aimed at making the driving experience safer, comfortable, and convenient in addition to making them eco-friendly in nature. Rolling resistance from tires plays a crucial role in delivering the optimum fuel efficiency and level of exhaust emission from the vehicle. It has been found that low pressure in the tire leads to high rolling resistance. According to industry experts, with every 1 bar pressure drop in the tire from the stipulated value, the rolling resistance of tire increases by 20%-25% in passenger vehicles.

The following companies are the key players in the global tire pressure monitoring system market: Continental, DENSO, NXP, WABCO, and ZF TRW. Other prominent vendors in the market are: Infineon Technologies, Pacific Industrial, and Schrader Electronics. Order a copy of Global Tire Pressure Monitoring System Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=769806

In terms of geographical analysis, the Americas will be the fastest-growing region in the global tire pressure monitoring system market, and is expected to reach revenues of around $2 billion by 2020. The US and Canada will emerge as the key revenue-generators.

Global Tire Pressure Monitoring System Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global tire pressure monitoring system market for 2016-2020. To calculate the market size, the report considers analysis of three geographic regions and explicitly states key leading countries in the respective regions as per the market.

Further, the tire pressure monitoring system market report states that one major challenge in the market is inaccuracy of electronic sensors and functional failure of the system. Various TPMS-related issues have led to the failure of the automotive safety systems in critical situations. The failure of electronic sensors and sometimes the use of defective electronic sensors often cause fatal accidents. For instance, the sudden turning off of the ignition disables the engine and thus TPMS. According to NHTSA, the TPMS of the affected vehicles failed to meet the requirements of the Federal Motor Vehicle Safety Standard No. 138 (i.e., the system did not warn the driver when the tire pressure was below 25% of the recommended pressure).

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Source: http://marketersmedia.com/tpms-tire-pressure-monitoring-system-market-14-94-cagr-to-2020/151011

Release ID: 151011