Commercial Vehicle Run-flat Tire Inserts Market: Regional Outlook, Competitive Strategies and Forecasts to 2025

Some prominent participants in the global commercial vehicle run-flat tire inserts market include Hutchinson Industries Inc., RunFlat International, TAC Run Flat Tire Systems, Bulldog Direct Protective Systems Inc., Briscoe Technologies Lasco International Group, Mas Makin Metal Ltd., Terra Track, and RunFlat CBR.

As per estimates by Transparency Market Research, the global commercial vehicle run-flat tire inserts market is expected to expand at a CAGR of 2.1% between 2017 and 2025. Progressing at this pace, the market which stood at US$308.1 mn in 2016 is predicted to be worth US$372.0 mn by 2025.

Military and Defense Application Segment to Remain Dominant through 2025

The global commercial vehicle run-flat tire inserts market has been studied on the basis of type, application, and geography in this report. By type, 20 inch holds dominance in the commercial vehicle run-flat tire inserts market as it has wide application area that is suitable for the majority of defense and military vehicles.

The key application segments of the commercial vehicle run-flat tire inserts market include transportation and logistics, military and defense, agricultural, manufacturing, construction, and others. Military and defense application stood as the leading application segment in 2016, and the segment is predicted to hold on to its dominant position over the forecast period.

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North America is the leading regional market for commercial vehicle run-flat tire inserts due to their higher adoption in several application areas, among which military and defense is the key one. Asia Pacific is expected to display the leading CAGR of 2.7% between 2017 and 2025.

Need for Added Safety of Military and Border Patrol Vehicles Boosts Adoption

At the forefront of driving the global commercial vehicle run-flat tire inserts market is the increasing demand for run-flat tire inserts from military and security units for emergency situations. Advancements in military and security units and increasing budgets of governments across the world for military security is displaying the demand for run-flat tire inserts for enhanced vehicular safety in the event of an adverse and emergency condition. Furthermore, increased threat of terrorism has compelled original equipment manufacturers (OEMs) to equip vehicles with run-flat tire insert systems, especially for the ones that are designed for critical applications.

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Advanced Analytics Market: APEJ to Remain Most Lucrative Market for Advanced Analytics

Future Market Insights (FMI) has published a new report, which is titled, “Advanced Analytics Market: APEJ to Remain Most Lucrative Market for Advanced Analytics: Global Industry Analysis (2012 – 2016) & Opportunity Assessment (2017 – 2022).” According to the report, the global advanced analytics market is anticipated to expand at a 5.5% CAGR from 2017 to 2022 and reach a market value of US$13,500 mn by 2022. The growing need to address diverse business requirements is one of the key factors fueling the adoption of advanced analytics.

Businesses are increasingly focusing on expanding their reach so as to gain higher market shares on account of the increasing competition and for this they require intelligence which may help them for predicting future scenarios and preparing them for the future. Businesses also require intelligence to identify opportunities that lie ahead, anticipating the problems that they might encounter in the future, as well as improve the processes. For all these problems, advanced analytics emerge as an effective solution.

The adoption of advanced analytics has also risen on account of a number of niche players who have entered the market and are providing advanced analytics solutions at a relatively lower cost. Moreover, many small and medium sized industries are also offering advanced solutions and updated services so as to optimize businesses at low cost. This is fueling the adoption rates of advanced analytics solutions across businesses and organizations. Businesses are benefiting from incorporating advanced analytics solutions such as Big Data Analytics, data mining, and location intelligence, which enable them to extract valuable information and make smart business decisions.

The perception that advanced analytics can be an expensive technique for adoption is common among many enterprises. However, this perception is soon changing and enterprises are realizing the various benefits of adopting advanced analytics so as to develop market strategies and make customer oriented moves which will bring success to their business.

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On the basis of geography, the global advanced analytics market is segmented into Asia Pacific except Japan, North America, Europe, and the Middle East and Africa. Of these, the fastest expansion is predicted in North America and this region is anticipated to cross US$2500 mn by 2022. For gaining insights, many enterprises within North America are adopting advanced analytics solutions which are helping them to identify various industry trends as well as future opportunities. It is estimated that APEJ will emerge as the largest market for advanced analytics by revenue. Europe will also follow the footsteps North America and expand at a rapid CAGR in the forecast period. However, the Middle East and Africa will experience a slow growth in the advanced analytics market.

By end use, the advanced analytics solution is witnessing fastest sales from the retail and consumer goods industry. By 2022, this segment is expected to cross US$3000 mn by revenue. The BFSI industry segment will exhibit a low CAGR throughout the forecast period whereas the government and healthcare industry segment will expand at a high CAGR through 2022. In terms of revenue however, BFSI will remain one of the most lucrative segments in the market.

On the basis of solution, it is estimated that both visual analytics and big data analytics will witness parallel expansion in terms of sales. The report further states that one third of the total share of the market in 2017 has been contributed by the revenues received from Big Data Analytics and business analytics segments. Surprisingly, in terms of sales, these two segments will exhibit the lowest CAGR between 2017 and 2022 whereas the predictive analytics segment will register the highest CAGR in terms of sales and will become popular as an attractive solution for advanced analytics. The risk analytics segment could also witness rapid expansion by 2022.

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