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Electric Vehicle Tires Market Size to Surpass US$ 161.6 Bn by 2030

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Tokyo, June 13, 2022 (GLOBE NEWSWIRE) — The global electric vehicle (EV) tires market was reached at US$ 40 billion in 2021. As far as the impact of covid 19 is concerned, the size of the electric vehicle tire market is estimated to touch 8.6% yearly. The entire market is primary carried on by the increasing demand for smart vehicles and the advancement of automatic connected vehicles. The increasing shift to artificial intelligence rather than manually operated vehicles and the recent introduction of the 5G network has helped to boost the electric vehicle market to a great extent. The rapid emergence of modern technology associated with these smart vehicles has also encouraged a huge population to opt for them.

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Regional Snapshots

The North American market is providing a great opportunity to the electric vehicle tire market pertaining to the increasing demand for environmentally sustainable electric vehicles. The increasing use of these vehicles facilitates the demand for the tire market parallelly. The other regions boosting he size of the EV tire market includes Europe and Japan. The Asia Pacific countries like India and China also tend to shift to the use of sustainable energy resources which facilitates the use of EV tires thus helping the market to grow.

Report highlights

  • On the basis of type, the market sees a growth in the passenger vehicles segment due to increasing use of electric vehicles by the private commuters on the daily basis to increase their disposable income.
  • On the basis of technology, the radial type of technology has shown a rise due to its perfect compatibility with the performance associated with the electric vehicles and the smooth experience observed by the end users.
  • On the basis of distribution channel the OEM has seen a commendable growth as compared to the aftermarket sector.

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Scope of the Report

Report Attributes Details
Market Size in 2021 USD 40 Billion 
Revenue Forecast by 2030 USD 161.6 Billion
CAGR 16.78% from 2022 to 2030
Largest Market Asia Pacific
Fastest Growing Region North America
Base Year 2021
Forecast Year 2022 to 2030
Key Players  Falken tire, Michelin, Nokian Tyre, Cooper Tyre and Rubber Company, Apollo tyre, Pirelli and co., Bridgestone, Continental AG, Yokohama rubber, Goodyear tyre and rubber company

Market Dynamics

Drivers

The torque expected out of the electric vehicle tires is higher as compared to the normal internal combustion vehicles pertaining to the higher weight of the electric vehicles due to the heavy batteries used in them. On the other hand reduction in the noise pollution due to the absence of an internal combustion engine also helps to drive the market during the forecast period the higher range of distance can cover makes it inevitable for the electric vehicles to have special tires. The low rolling resistance which is required for the electric vehicle tires to provide better distance is an essential factor. Low rolling resistance provided by electric vehicle tires leads to lesser wastage of energy. The wet grip provided by the electric vehicle tires helps to reduce the braking time of the wheels on road.

Restraints

Increase in the total weight of a vehicle pertaining to the heavy weight of the batteries reduces the total range covered by the electric vehicle. The R&D done regarding electric vehicle isn’t sufficient to provide a safer lifestyle to the consumers. Pertaining to the absence of engine noise of the electric vehicles, the sound of the tires is audible inside in the cabin of the electric vehicle. As the use of electric vehicle has not been adopted on a large scale the number of charging stations provided are less which makes it difficult for the present users to opt for long distance travel. The energy loss pertaining to the use of electric vehicle tires as a result on the increased torque which is required in while moving out from halt proving to be a matter of concern for the market.

Opportunities

The combination of carbon black with silica which is used in the recent tires benefits in terms of both, by providing a low resistance as well as a better wear and tear of the tires during usage. The increase in use of electric vehicle owing to the rise in the combustible fuel prices as also have to boost the electric vehicle tires market. The improved thread pattern and side wall construction using advance technology has proved to be an opportunity for the developing market. Reduced braking distance owing to the wet grip concept has also boosted the use of electric vehicle tires.

Challenges

The improved tread pattern using new technologies has lead to the change the shape of the tires. The method carried out to construct the side wall of the tires has also affected the size of the tires. The higher rolling resistance provided by the electric vehicle tires when the vehicle moves from halt needs greater use of energy and provides less work in return. Increase int he total weight of the electric vehicle pertaining to the heavy batteries used in the functioning of the machine makes use of more energy, hence hampering the average economy of the vehicle. Installation of charging stations has not seen a great pace during the present period, hence use of electric vehicles challenges the customer to decide on the feasibility of the vehicle for long distance travels.

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Recent Developments

In order to reduce the production of noise in vehicle propulsion, Michelin developed the tire technology. Polyurethane foam is used to make the experience quieter by around twenty percent during a drive by the customer. The cabin is thus much peaceful. The high performance expected out of tires of the sports utility vehicles have been fulfilled by these tires. This took place in March 2021.

‘Ecorun A-A’, developed in May 2018, which is a smart tire developed by a collaboration between Falken, a Japanese company and Toyota. The top most performance shown against wet grip and efficiency has coined the name for the product.

Market Segmentation

By Distribution Channel

  • Aftermarket
  • OEM

By Type

  • Passenger vehicles
  • Commercial vehicles
  • Two wheelers

By Technology

  • Radial
  • Bias
  • Composite

By Tire Size

  • Up to 14”
  • 15-18”
  • Above 18”

By Propulsion

  • BEV
  • HEV
  • PHEV

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Artificial Intelligence

Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms

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MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.

SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]

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Artificial Intelligence

Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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