Connected Tyre Market by Component, Rim Size (12-17 Inches, 18-22 Inches, More Than 22 Inches), Propulsion, Sales Channel

List of Tables

The Connected Tyre Market was valued at USD 22.56 million in 2023, expected to reach USD 30.70 million in 2024, and is projected to grow at a CAGR of 38.35%, to USD 219.03 million by 2030.

The connected tyre industry encompasses the integration of advanced sensor technology and IoT capabilities into traditional tyre systems to improve vehicle safety, performance, and fuel efficiency. This sector is becoming increasingly essential as it leverages data analytics to offer real-time monitoring and feedback on tyre conditions, such as pressure, temperature, and wear. Key applications include enhancing fleet management, supporting autonomous driving technologies, and improving overall vehicle telematics. The primary end-use markets are automotive manufacturers, fleet operators, and the burgeoning electric vehicle sector. Market growth is chiefly driven by rising demand for safety improvements and predictive maintenance tools, alongside advancements in sensor technologies and wireless connectivity. Moreover, increased investment in smart mobility solutions and consumer demand for enhanced driving experiences propel further expansion. Potential opportunities lie in developing cross-industry collaborations and expanding the aftermarket service landscape. For businesses, leveraging strategic partnerships with tech companies can expedite innovation and deployment of connected tyre solutions, and investing in research on new sensor materials and data analytics could yield significant competitive advantages. Conversely, challenges include high initial costs, cybersecurity concerns, data privacy issues, and the complex integration with existing vehicle systems. Ensuring robust cybersecurity measures and compliance with data regulations will be crucial in overcoming these obstacles. Innovation should focus on developing cost-effective sensor technologies, AI-powered analytics for predictive maintenance, and scalable connectivity solutions that adapt to various vehicle types. The market is dynamic, with competitive pressures from both traditional tyre manufacturers and tech startups aiming to carve out shares of this high-potential sector. As consumers and industries increasingly prioritize safety and efficiency, the connected tyre market represents a promising avenue for investment and development, demanding consistent innovation and strategic planning to capture its growth potential.

KEY MARKET STATISTICS
Base Year [2023]	USD 22.56 million
Estimated Year [2024]	USD 30.70 million
Forecast Year [2030]	USD 219.03 million
CAGR (%)	38.35%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Connected Tyre Market

The Connected Tyre Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising awareness towards the importance of tyre health, performance, and safety
- Continuous advancements in tyre technology globally
- Emergence of the Internet of Things and 5G connectivity
Market Restraints
- High cost associated with connected tyre technology
Market Opportunities
- Ongoing development and deployment of autonomous vehicles
- Expanding adoption of electric vehicles across the world
Market Challenges
- Lack of supporting infrastructure for implementation of connected tyre systems

Porter's Five Forces: A Strategic Tool for Navigating the Connected Tyre Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Connected Tyre Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Connected Tyre Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Connected Tyre Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Connected Tyre Market

A detailed market share analysis in the Connected Tyre Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Connected Tyre Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Connected Tyre Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Connected Tyre Market

A strategic analysis of the Connected Tyre Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Connected Tyre Market, highlighting leading vendors and their innovative profiles. These include Bridgestone Corporation, Continental AG, Cooper Tire & Rubber Company Europe Limited, Goodyear Tire & Rubber Company, Hankook Tire & Technology Co., Ltd., Innovative Tyres & Tubes Ltd., JK Tyre & Industries Ltd., Magna Tyres, Michelin, MRF Tyres, NEXEN TIRE Corporation, Nokian Tyres PLC, Pirelli & C. S.p.A., RPG Enterprises, The Yokohama Rubber Co., Ltd., Treel Pvt Ltd., and U.S. Tire Manufacturers Association.

Market Segmentation & Coverage

This research report categorizes the Connected Tyre Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Component, market is studied across Hardware and Software.
Based on Rim Size, market is studied across 12-17 Inches, 18-22 Inches, and More Than 22 Inches.
Based on Propulsion, market is studied across Electric and ICE.
Based on Sales Channel, market is studied across Aftermarket and OEM.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-CF6C60CF959B

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising awareness towards the importance of tyre health, performance, and safety
  - 5.1.1.2. Continuous advancements in tyre technology globally
  - 5.1.1.3. Emergence of the Internet of Things and 5G connectivity
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with connected tyre technology
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing development and deployment of autonomous vehicles
  - 5.1.3.2. Expanding adoption of electric vehicles across the world
- 5.1.4. Challenges
  - 5.1.4.1. Lack of supporting infrastructure for implementation of connected tyre systems
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing advancements of software solutions used in connected tyres
- 5.2.2. Propulsion: Higher potential for the use of connected tyres in electric vehicle with supportive government policies
- 5.2.3. Rim Size: Increasing demand for more than 22 inches rim size segment with advancements in heavy-duty vehicles
- 5.2.4. Sales Channel: Rising availability of connected tyre solutions through the aftermarket sales segment
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Connected Tyre Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Software

7. Connected Tyre Market, by Rim Size

7.1. Introduction
7.2. 12-17 Inches
7.3. 18-22 Inches
7.4. More Than 22 Inches

8. Connected Tyre Market, by Propulsion

8.1. Introduction
8.2. Electric
8.3. ICE

9. Connected Tyre Market, by Sales Channel

9.1. Introduction
9.2. Aftermarket
9.3. OEM

10. Americas Connected Tyre Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Connected Tyre Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Connected Tyre Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Continental Enables Real-Time Digital Tire Monitoring also for Free-Standing Truck Trailers
- 13.3.2. Pirelli Launches Investment Of 114 Million Euro In The Plant At Silao, Mexico to Increase Production Capacity Of The Silao Plant By More Than One Million Pieces For A Total Of 8.5 Tires At Completion In 2025 Million
- 13.3.3. Bridgestone Collaborates with Microsoft to Accelerate Advanced Tire Analytics Integration Across Global Portfolio of Connected Tires and Mobility Solutions
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Bridgestone Corporation
2. Continental AG
3. Cooper Tire & Rubber Company Europe Limited
4. Goodyear Tire & Rubber Company
5. Hankook Tire & Technology Co., Ltd.
6. Innovative Tyres & Tubes Ltd.
7. JK Tyre & Industries Ltd.
8. Magna Tyres
9. Michelin
10. MRF Tyres
11. NEXEN TIRE Corporation
12. Nokian Tyres PLC
13. Pirelli & C. S.p.A.
14. RPG Enterprises
15. The Yokohama Rubber Co., Ltd.
16. Treel Pvt Ltd.
17. U.S. Tire Manufacturers Association