Connected Tires Market by Vehicle Type, Component, Rim Size (12-17 Inches, 18-22 Inches, More than 22 Inches), Sales Channel (OEM, Aftermarket), Propulsion (Electric, ICE), Offering (Hardware, Software) and Region - Global Forecast to 2028
The global connected tires market size is projected to grow from USD 4 million in 2023 to USD 54 million by 2028, at a CAGR of 67.1%. Increasing demand for safety and the growing vehicle connectivity trend are poised to impact the connected tire market profoundly. The convergence of these factors is expected to drive significant changes in the industry. Growing emphasis on safety will fuel the demand for connected tires equipped with real-time monitoring capabilities, including tire pressure, temperature, and tread wear. This information would be seamlessly transmitted to the vehicle's onboard systems, empowering drivers with timely alerts and enabling proactive measures to prevent accidents. Such factors will lead to an increase in demand for connected tyres in the coming years. Further, the rise of connected and autonomous vehicles (CAVs) will increase the demand of connected mobility ecosystems. Connected tires play a vital role within these ecosystems by offering valuable data that various stakeholders, including fleet operators, ride-sharing platforms, and smart city infrastructure, can harness.
“The 12-17 Inches segment will lead the market during forecast period”
The market for the 12–17 inches segment is expected to be driven by the increasing demand for advanced safety features in vehicles, including tire monitoring systems. The growth of electric vehicles is also expected to fuel demand for connected tires, as they require more precise and efficient monitoring systems. The trend of connected cars is a significant driver of growth, creating a need for real-time vehicle data analysis and monitoring. Connected tire systems, such as the Goodyear TPMS and Continental's ContiConnect, offer real-time monitoring of tire pressure, temperature, and other parameters, improving safety and performance. The rise of shared mobility services and ride-sharing platforms is expected to drive demand for advanced tire management solutions.
“EV segment to witness a faster growth during the forecast period”
The electric propulsion subsegment of the connected tires market is expected to witness significant growth in the coming years due to the increasing adoption of electric vehicles. Electric vehicles tend to have heavier batteries and generate more torque, which can strain the tires more. As a result, tire pressure and temperature monitoring are critical for ensuring optimal performance and safety. Several tire manufacturers have developed connected tire solutions specifically for electric vehicles. For example, Michelin's Connected Road concept uses sensors embedded in the road surface to provide real-time information to drivers about road conditions, traffic, and weather, enabling them to make better decisions and reduce energy consumption. As more consumers shift toward sustainable modes of transportation, demand for advanced tire monitoring and maintenance solutions that can improve vehicle performance, safety, and efficiency is expected to rise. The trend of smart cities and connected infrastructure is also expected to fuel demand for advanced tire monitoring systems in the electric vehicle segment.
“North America will lead the connected tyre market in the short future”
The growing demand for safety and the increasing willingness of consumers to adopt new technologies is expected to drive the growth of the connected tires market in North America. The market is expected to witness significant growth in the coming years due to the increasing adoption of advanced tire technologies and the increasing demand for real-time tire monitoring solutions. The growth of the market is expected to be driven by the increasing adoption of luxury vehicles, which require specialized tires optimized for their unique needs. Overall, the connected tires market in North America is poised for significant growth in the coming years, driven by technological advancements, government mandates, and increasing consumer demand for safety and convenience.
Consumers are becoming increasingly willing to adopt new technologies in their vehicles to improve safety. This trend is reflected in the growing popularity of connected tires, which allow for real-time monitoring of tire performance and safety through sensors embedded in the tire. Michelin is one of the companies leading the way in this space with its Michelin Connected Technologies platform, which provides real-time data and analysis of tire performance to drivers and fleet managers. Moreover, recent developments in the connected tires market in the US include the introduction of new technologies, such as RFID chips, which offer improved accuracy and security compared to traditional TPMS. Bridgestone, Goodyear, Michelin, and Pirelli are some of the leading players in the connected tires market in US, investing heavily in research and development to offer innovative solutions for the changing needs of customers.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
By Company Type: Tier I - 67%, Others - 9%, and OEMs - 24%
By Designation: C Level Executives - 33%, Directors - 52%, and Others - 15%
By Region: North America - 28%, Europe - 38%, Asia Pacific - 32%, Rest of the World - 2%
The Connected tyre market is dominated by major charging providers including Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany), and Pirelli (Italy) among others in the Connected tyre market.
Research Coverage:
This research report categorizes Connected tyre market by Vehicle Type (Passenger Cars, Commercial Vehicles), Component (TPMS, Accelerometer, Strain Gauge Sensor, RFID Chips, Other Sensors), Rim Size (12-17 Inches, 18-22 Inches, More than 22 Inches), Sales Channel (OEM, Aftermarket), Propulsion (ICE, Electric), Offering (Hardware, Software) and Region (Asia Pacific, Europe, North America and Rest of the World).
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Connected tyre market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the Connected tyre market. Competitive analysis of upcoming startups in the Connected tyre market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Connected tyre market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Increased demand for vehicle safety, Technological advancements Regulations for TPMS and safety monitoring), restraints (High cost of connected tire technology, Data privacy and cybersecurity, concerns), opportunities (Increased acceptance of connected mobility, Increased efficiency, Increased investment for autonomous vehicles), and challenges (Lack of standardization, Limited acceptance by consumers) influencing the growth of the Connected tyre market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Connected tyre market
Market Development: Comprehensive information about lucrative markets – the report analyses the Connected tyre market across varied regions
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Connected tyre market
Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany), and Pirelli (Italy) among others in the Connected tyre market
- 1 Introduction
- 1.1 Study Objectives
- 1.2 Market Definition
- Table 1 Connected Tires Market Definition, By Sales Channel
- Table 2 Connected Tires Market Definition, By Vehicle Type
- Table 3 Connected Tires Market Definition, By Rim Size
- Table 4 Connected Tires Market Definition, By Component
- Table 5 Connected Tires Market Definition By Propulsion Type
- Table 6 Connected Tires Market Definition, By Offering
- 1.2.1 Inclusions And Exclusions
- Table 7 Inclusions And Exclusions
- 1.3 Market Scope
- Figure 1 Markets Covered
- 1.3.1 Regions Covered
- 1.3.2 Years Considered
- 1.4 Currency Considered
- Table 8 Currency Exchange Rates
- 1.5 Stakeholders
- 1.6 Recession Impact
- 2 Research Methodology
- 2.1 Research Data
- Figure 2 Connected Tires Market: Research Design
- Figure 3 Research Design Model
- 2.1.1 Secondary Data
- 2.1.1.1 Key Secondary Sources For Connected Tires Market
- 2.1.1.2 Key Data From Secondary Sources
- 2.1.2 Primary Data
- 2.1.2.1 Primary Interviews – Demand And Supply Sides
- 2.1.2.2 Key Industry Insights And Breakdown Of Primary Interviews
- Figure 4 Key Industry Insights
- Figure 5 Breakdown Of Primary Interviews
- 2.1.2.3 List Of Primary Participants
- 2.2 Market Size Estimation
- Figure 6 Research Methodology: Hypothesis Building
- 2.2.1 Bottom-up Approach
- Figure 7 Connected Tires Market: Bottom-up Approach
- 2.2.2 Top-down Approach
- Figure 8 Top-down Approach: Connected Tires Market
- Figure 9 Connected Tires: Market Estimation Notes
- 2.3 Recession Impact Analysis
- Figure 10 Connected Tires Market: Research Design And Methodology – Demand Side
- 2.4 Data Triangulation
- Figure 11 Data Triangulation Methodology
- 2.5 Factor Analysis
- Figure 12 Factor Analysis: Connected Tires Market
- 2.5.1 Factor Analysis For Market Sizing: Demand And Supply Sides
- 2.6 Research Assumptions
- 2.7 Research Limitations
- 3 Executive Summary
- Figure 13 Connected Tires Market: Market Overview
- Figure 14 Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- Figure 15 Hardware Segment Estimated To Lead Connected Tires Market In 2023
- Figure 16 Key Players In Connected Tires Market
- Figure 17 Passenger Cars Segment To Have Highest Market Share In Connected Tires Market In 2023
- 4 Premium Insights
- 4.1 Attractive Opportunities In Connected Tires Market
- Figure 18 Increasing Demand For Smart And Connected Vehicles To Boost Market
- 4.2 Connected Tires Market, By Propulsion
- Figure 19 Electric Segment Expected To Have Fastest Cagr During Forecast Period
- 4.3 Connected Tires Market, By Vehicle Type
- Figure 20 Passenger Cars To Lead Market During Forecast Period
- 4.4 Connected Tires Market, By Rim Size
- Figure 21 12–17 Inches Rim Size To Have Highest Growth During Forecast Period
- 4.5 Connected Tires Market, By Offering
- Figure 22 Software Segment To Witness Significant Growth During Forecast Period
- 4.6 Connected Tires Market, By Component
- Figure 23 Tpms And Rfid Chips To Register For Largest Market Share During Forecast Period
- 4.7 Connected Tires Market, By Region
- Figure 24 Asia Pacific Accounted For Largest Market Share In 2022
- 5 Market Overview
- 5.1 Introduction
- 5.2 Market Dynamics
- Figure 25 Connected Tires Market: Market Dynamics
- 5.2.1 Drivers
- Figure 26 Driving Factors Of Connected Tires Market
- 5.2.2 Restraints
- Figure 27 Restraining Factors Of Connected Tires Market
- 5.2.3 Opportunities
- Figure 28 Opportunities In Connected Tires Market
- 5.2.4 Challenges
- Figure 29 Challenging Factors Of Connected Tires Market
- Table 9 Connected Tires Market: Impact Of Market Dynamics
- 5.3 Connected Tires Market Ecosystem
- Figure 30 Connected Tires Market: Ecosystem Analysis
- 5.3.1 Tire Manufacturers
- 5.3.2 Technology Providers
- 5.3.3 Iot Platform Providers
- 5.3.4 Automotive Oems
- 5.3.5 Connectivity Providers
- Table 10 Connected Tires Market: Role Of Companies In Ecosystem
- 5.4 Supply Chain Analysis
- Figure 31 Supply Chain Analysis Of Connected Tires Market
- 5.5 Pricing Analysis
- Table 11 Connected Tires Cost Summary
- Table 12 Connected Tires Cost, By Vehicle Type
- 5.6 Patent Analysis
- Figure 32 Number Of Published Patents (2012–2022)
- 5.6.1 Legal Status Of Patents
- Figure 33 Legal Status Of Patents Filed For Connected Tires
- Table 13 Important Patent Registrations Related To Connected Tires Market
- 5.7 Case Studies
- 5.7.1 Case Study 1: Smart Tires Iot Product Development
- 5.7.2 Case Study 2: Building Better Tires With Ai
- 5.7.3 Case Study 3: Tirematics Cloud System
- 5.7.4 Case Study 4: Continental And Hewlett Packard Enterprise (Hpe)
- 5.7.5 Case Study 5: Pirelli And Ericsson
- 5.8 Technology Analysis
- 5.8.1 5g Connectivity
- 5.8.2 Iot Integration
- Figure 34 Microsoft Tire Monitoring System
- 5.8.3 Artificial Intelligence And Machine Learning
- Figure 35 Automated Tire Information Gathering System For Buses And Trucks
- 5.8.4 Augmented Reality
- Figure 36 Falken Tires Augmented Reality
- 5.9 Trade Analysis
- 5.9.1 Import Data
- Table 14 Us: Pneumatic Tire Imports Share, By Country (Value %)
- Table 15 Mexico: Pneumatic Tire Imports Share, By Country (Value %)
- Table 16 China: Pneumatic Tire Imports Share, By Country (Value %)
- Table 17 Japan: Pneumatic Tire Imports Share, By Country (Value %)
- Table 18 India: Pneumatic Tire Imports Share, By Country (Value %)
- Table 19 Germany: Pneumatic Tire Imports Share, By Country (Value %)
- Table 20 France: Pneumatic Tire Imports Share, By Country (Value %)
- Table 21 Spain: Pneumatic Tire Imports Share, By Country (Value %)
- 5.9.2 Export Data
- Table 22 Us: Pneumatic Tire Exports Share, By Country (Value %)
- Table 23 China: Pneumatic Tire Exports Share, By Country (Value %)
- Table 24 Japan: Pneumatic Tire Exports Share, By Country (Value %)
- Table 25 India: Pneumatic Tire Exports Share, By Country (Value %)
- Table 26 Germany: Pneumatic Tire Exports Share, By Country (Value %)
- Table 27 France: Pneumatic Tire Exports Share, By Country (Value %)
- Table 28 Spain: Pneumatic Tire Exports Share, By Country (Value %)
- 5.10 Regulatory Framework
- 5.10.1 North America
- 5.10.2 Europe
- 5.10.3 Asia Pacific
- 5.10.4 Regulatory Bodies, Government Agencies, And Other Organizations, By Region
- Table 29 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations
- Table 30 Europe: List Of Regulatory Bodies, Government Agencies, And Other Organizations
- Table 31 Asia Pacific: List Of Regulatory Bodies, Government Agencies, And Other Organizations
- 5.11 Trends And Disruptions
- Figure 37 Connected Tires Market: Trends And Disruptions
- 5.12 Solution Comparison By Leading Players
- 5.13 Macroeconomic Indicators
- 5.13.1 Gdp Trends And Forecast For Major Economies
- Table 32 Gdp Trends And Forecast By Major Economies, 2019–2026 (Usd Billion)
- 5.14 Key Stakeholders And Buying Criteria
- 5.14.1 Passenger Cars
- 5.14.2 Commercial Vehicles
- 5.14.3 Key Stakeholders In Buying Process
- Figure 38 Influence Of Stakeholders In Buying Process For Top Applications
- Table 33 Influence Of Stakeholders In Buying Process For Top Applications (%)
- 5.14.4 Buying Criteria
- Figure 39 Key Buying Criteria For Top Applications
- Table 34 Key Buying Criteria For Top Applications
- 5.14.5 Roi Analysis
- Table 35 Assumptions: Year 1
- Table 36 Potential Benefits: Year 1
- Table 37 Roi Calculation: Year 1
- 5.15 Key Conferences And Events In 2023 And 2024
- Table 38 Connected Tires Market: Detailed List Of Conferences And Events
- 5.16 Connected Tires Market Scenario (2023–2028)
- Figure 40 Connected Tires Market – Future Trends And Scenarios, 2023–2028 (Usd Million)
- 5.16.1 Most Likely Scenario
- Table 39 Most Likely Scenario, By Region, 2023–2028 (Usd Million)
- 5.16.2 Optimistic Scenario
- Table 40 Optimistic Scenario, By Region, 2023–2028 (Usd Million)
- 5.16.3 Pessimistic Scenario
- Table 41 Pessimistic Scenario, By Region, 2023–2028 (Usd Million)
- 6 Connected Tires Market, By Rim Size
- 6.1 Introduction
- Table 42 Connected Tires Market, By Rim Size, 2019–2022 (Thousand Units)
- Table 43 Connected Tires Market By Rim Size, 2023–2028 (Thousand Units)
- Figure 41 More Than 22 Inches Segment To Dominate Rim Size Market During Forecast Period
- 6.2 12–17 Inches
- 6.2.1 Incorporation Of New Technologies For Better Productivity
- Table 44 12–17 Inches: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 45 12–17 Inches: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 6.3 18–22 Inches
- 6.3.1 Enables Better Performance And Handling At Higher Speeds For Suvs, Sports Cars, And Others
- Table 46 18–22 Inches: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 47 18–22 Inches: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 6.4 More Than 22 Inches
- 6.4.1 Increased Usage In Commercial And Heavy-duty Vehicles
- Table 48 More Than 22 Inches: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 49 More Than 22 Inches: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 6.5 Key Primary Insights
- 7 Connected Tires Market, By Propulsion
- 7.1 Introduction
- Table 50 Connected Tires Market, By Propulsion Type, 2019–2022 (Thousand Units)
- Table 51 Connected Tires Market, By Propulsion Type, 2023–2028 (Thousand Units)
- Figure 42 Electric Segment To Be Dominant During Forecast Period (2023–2028)
- 7.2 Electric
- 7.2.1 Sustainable And Eco-friendly Solution
- Table 52 Electric: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 53 Electric: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 7.3 Ice
- 7.3.1 Development Of New Connected Tire Technologies To Enhance Fuel Efficiency
- Table 54 Ice: Connected Tires Market By Region, 2019–2022 (Thousand Units)
- Table 55 Ice: Connected Tires Market By Region, 2023–2028 (Thousand Units)
- 7.4 Key Primary Insights
- 8 Connected Tires Market, By Sales Channel
- 8.1 Introduction
- 8.2 Oem
- 8.3 Aftermarket
- 9 Connected Tires Market, By Vehicle Type
- 9.1 Introduction
- Figure 43 Connected Tires Market, By Vehicle Type, 2023−2028
- Table 56 Connected Tires Market, By Vehicle Type, 2019–2022 (Thousand Units)
- Table 57 Connected Tires Market, By Vehicle Type, 2023–2028 (Thousand Units)
- 9.2 Passenger Cars
- 9.2.1 Integration Of Ai And Ml For Better Results
- Table 58 Passenger Cars: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 59 Passenger Cars: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 9.3 Commercial Vehicles
- 9.3.1 Need For Enhanced Safety And Efficiency
- Table 60 Commercial Vehicles: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 61 Commercial Vehicles: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 9.4 Key Industry Insights
- 10 Connected Tires Market, By Offering
- 10.1 Introduction
- Table 62 Connected Tires Market, By Offering, 2019–2022 (Usd Million)
- Table 63 Connected Tires Market, By Offering, 2023–2028 (Usd Million)
- Figure 44 Software Projected To Register Higher Rate During Forecast Period
- 10.2 Software
- 10.2.1 Investments In Cloud-based Platforms For Real-time Data Analysis And Tire Monitoring
- Table 64 Software By Company Names
- Table 65 Software Connected Tires Market, By Region, 2019–2022 (Usd Million)
- Table 66 Software Connected Tires Market, By Region, 2023–2028 (Usd Million)
- 10.3 Hardware
- 10.3.1 R&D Investments In Next-generation Connected Tires
- Table 67 Hardware Connected Tires Market, By Region, 2019–2022 (Usd Million)
- Table 68 Hardware Connected Tires Market, By Region, 2023–2028 (Usd Million)
- 10.4 Key Primary Insights
- 11 Connected Tires Market, By Component
- 11.1 Introduction
- Table 69 Connected Tires Market, By Component, 2019–2022 (Thousand Units)
- Table 70 Connected Tires Market, By Component, 2023–2028 (Thousand Units)
- Figure 45 Tpms And Rfid Chips Projected To Have High Growth Rate During Forecast Period (2023–2028)
- 11.2 Accelerometer Sensors
- 11.2.1 Measures Tire Performance Metrics
- Table 71 Accelerometer Sensors: Connected Tires Market, By Region, 2019–2022 (Thousand Units)
- Table 72 Accelerometer Sensors: Connected Tires Market, By Region, 2023–2028 (Thousand Units)
- 11.3 Strain Gauge Sensors
- 11.3.1 More Reliable And Cost-effective
- Table 73 Strain Gauge Sensors: Connected Tires Market By Region, 2019–2022 (Thousand Units)
- Table 74 Strain Gauge Sensors: Connected Tires Market By Region, 2023–2028 (Thousand Units)
- 11.4 Rfid Chips
- 11.4.1 Allows Quick And Easy Identification And Tracking Of Tires
- Table 75 Rfid Chips: Connected Tires Market By Region, 2019–2022 (Thousand Units)
- Table 76 Rfid Chips: Connected Tires Market By Region, 2023–2028 (Thousand Units)
- 11.5 Tpms
- 11.5.1 Mandated By Governments Worldwide To Improve Road Safety
- Table 77 Tpms: Connected Tires Market By Region, 2019–2022 (Thousand Units)
- Table 78 Tpms: Connected Tires Market By Region, 2023–2028 (Thousand Units)
- 11.6 Other Sensors
- 11.7 Key Primary Insights
- 12 Connected Tires Market, By Region
- 12.1 Introduction
- Figure 46 Connected Tires Market, By Region (2023–2028)
- Table 79 Connected Tires Market, By Region, 2019–2022(Usd Million)
- Table 80 Connected Tires Market, By Region, 2023–2028 (Usd Million)
- 12.2 North America
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