PUBLISHER: The Business Research Company | PRODUCT CODE: 1703207
PUBLISHER: The Business Research Company | PRODUCT CODE: 1703207
Connected tires are equipped with sensors and advanced technology that enable them to communicate with other devices, providing real-time data on their performance. This includes crucial information such as tire pressure, temperature, wear levels, and other key metrics.
The primary components of connected tires include a tire pressure monitoring system (TPMS), accelerometer sensors, strain gauge sensors, and radio-frequency identification (RFID) chips. TPMS is an electronic system specifically designed to monitor the air pressure within pneumatic tires across various vehicle types. These tires are available in different rim sizes ranging from 12 to 17 inches, 18 to 22 inches, and over 22 inches, catering to passenger cars and commercial vehicles. They find applications in both original equipment manufacturer (OEM) installations and the aftermarket.
The connected tires market research report is one of a series of new reports from The Business Research Company that provides connected tires market statistics, including connected tires industry global market size, regional shares, competitors with a connected tires market share, detailed connected tires market segments, market trends, and opportunities, and any further data you may need to thrive in the connected tires industry. This connected tires research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The connected tires market size has grown exponentially in recent years. It will grow from $0.01 billion in 2024 to $0.01 billion in 2025 at a compound annual growth rate (CAGR) of 42.2%. The growth in the historic period can be attributed to increased emphasis on reducing carbon emissions, rising demand for fleet management solutions, increased regulatory focus on vehicle safety, increased adoption of smart vehicle technologies, and a rise in the adoption of connected vehicles.
The connected tires market size is expected to see exponential growth in the next few years. It will grow to $0.06 billion in 2029 at a compound annual growth rate (CAGR) of 41.8%. The growth in the forecast period can be attributed to increasing demand for real-time tire performance monitoring, rising adoption of IoT and connected vehicle technologies, growing emphasis on vehicle safety and predictive maintenance, rising demand for fuel efficiency and sustainability in transportation, and increasing adoption of electric and autonomous vehicles. Major trends in the forecast period include integration with IoT ecosystems, advanced sensor technologies, smart tire technologies, digital twin technology, and subscription-based tire services.
The connected tires market is poised for growth driven by the increasing adoption of autonomous vehicles. Autonomous vehicles, which operate using advanced sensors, cameras, radar, and artificial intelligence, are gaining traction due to technological advancements, environmental considerations, and evolving consumer preferences. Connected tires play a crucial role in these vehicles by providing essential data that enhances safety, performance, efficiency, and overall user experience, thus becoming indispensable in the evolution of modern transportation. For example, projections from the National Association of Insurance Commissioners indicate that the number of autonomous vehicles on US highways is expected to reach 3.5 million by 2025 and 4.5 million by 2030. This trend underscores how the rising adoption of autonomous and electric vehicles will stimulate growth in the connected tires market.
Key players in the connected tires sector are focusing on technological innovation, such as smart TPMS sensors, to improve vehicle safety, efficiency, and performance. These sensors are embedded within tires to continuously monitor tire pressure and temperature in real-time, providing critical data to drivers and vehicle systems. For instance, in September 2023, Infineon Technologies AG introduced the XENSIV SP49 tire pressure monitoring sensor. This sensor offers precise measurement accuracy, durability in harsh environmental conditions, and seamless integration with vehicle electronics. It supports wireless connectivity for efficient data transmission, enabling real-time monitoring and timely alerts to drivers about tire pressure variations.
In July 2022, Clarience Technologies, a US-based transportation technology company, acquired Pressure Systems International (P.S.I.). As a result, P.S.I.'s manufacturing operations, along with Truck System Technologies' operations, both located in San Antonio, Texas, became part of Clarience Technologies. These operations will continue as a separate business unit within the company. Pressure Systems International (P.S.I.) is a US-based provider of connected tire systems.
Major companies operating in the connected tires market are MRF Limited, ZF Friedrichshafen AG, Continental AG, Bridgestone Corporation, Compagnie Generale des Etablissements Michelin, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries Ltd., Pirelli & C. S.p.A., The Yokohama Rubber Co. Ltd., Hankook Tire & Technology Co. Ltd., Kumho Tire Co. Inc., Toyo Tire Corporation, Trelleborg AB, Shandong Linglong Tire Co. Ltd., Titan International Inc., Nexen Tire Corporation, Nokian Tyres plc, CEAT Limited, Qingdao Doublestar Co. Ltd., Giti Tire Corporation, Sailun Group Co. Ltd., NIRA Dynamics AB, Transense Technologies plc
Asia-Pacific was the largest region in the connected tires market in 2024. The regions covered in the connected tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the connected tires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The connected tires market consists of sales of smart tire sensors, tire telemetry systems, adaptive tire systems, and connected tire apps. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Connected Tires Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on connected tires market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for connected tires ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The connected tires market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.