Connected Tires Market Booms: From USD 3.84M in 2023 to USD 96.5M by 2030
Global Connected Tires Market Expected to Reach USD 96.5 Million by 2030, Driven by IoT Advancements and Vehicle Intelligence
Summary:
The Connected Tires Market is projected to witness exceptional growth, expanding from USD 3.84 million in 2023 to nearly USD 96.5 million by 2030, at a staggering CAGR of 58.5%. This surge is fueled by rapid adoption of IoT-enabled tire technologies, growing demand for intelligent vehicle solutions, and the rising emphasis on predictive maintenance. Global automotive giants are pushing boundaries to offer real-time tire health analytics, positioning connected tires as a cornerstone of next-generation mobility solutions.
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Market Size
The global connected tires market is undergoing a transformation, moving from a niche innovation to a mainstream automotive necessity. The market stood at USD 3.84 million in 2023 and is forecasted to grow more than 25 times by 2030, reaching USD 96.5 million. This explosive growth is primarily driven by the rising integration of sensors in tires, which are essential for providing crucial data to both manufacturers and end-users for optimal safety, efficiency, and performance.
Scope and Research Methodology
This report by Maximize Market Research is the result of a rigorous research process, incorporating both primary interviews and secondary data analysis. The study covers various critical metrics, such as:
- Production capacities and costs
- Market share by component, vehicle type, and propulsion method
- Country-level and region-specific insights
- Consumer behavior and technological shifts
Data sources include government databases, company financials, interviews with key executives, and real-time analytics platforms.
Report Coverage
This comprehensive market report provides:
- A global market snapshot with forecasts up to 2030
- Deep-dives into competitive dynamics and industry developments
- Segment-wise breakdown and future outlook by hardware/software offerings, sensor types, vehicle categories, propulsion types, and rim sizes
- Geographical coverage across North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa
- Strategic insights into OEM and aftermarket sales channels
Overview
Connected tires are an innovation in smart mobility. Embedded with advanced sensors, these tires provide real-time data on tire pressure, temperature, wear, and load, ensuring optimum safety and vehicle performance. As vehicles evolve into autonomous and electric models, the need for smart tire technologies is becoming essential—not optional.
Automotive stakeholders are focusing on data-driven vehicle systems, where connected tires play a crucial role in enabling predictive maintenance, reducing downtime, and enhancing fleet management operations. The shift towards sustainable, intelligent transportation systems is further accelerating the adoption of connected tire solutions.
Market Dynamics
Drivers
- Increased adoption of Internet of Things (IoT) in automotive technologies
- Growing focus on vehicle and road safety
- Rising popularity of autonomous and electric vehicles
- Need for predictive maintenance and real-time analytics for fleet optimization
Restraints
- High initial cost of sensor-embedded tires
- Concerns regarding cybersecurity and data integrity
Opportunities
- Growth potential in emerging markets with rising vehicle digitization
- Integration with smart city infrastructure
- Development of aftermarket services and predictive analytics platforms
Segmentation
By Offering:
- Hardware (Sensors, RFID Chips)
- Software (Tire Monitoring Systems, Data Analytics)
By Component:
- Tire Pressure Monitoring Systems (TPMS)
- Accelerometer Sensors
- Strain Gauge Sensors
- RFID Chips
- Other Advanced Sensors
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Propulsion Type:
- Electric Vehicles (EVs)
- Internal Combustion Engine (ICE) Vehicles
By Rim Size:
- 12–17 Inches
- 18–22 Inches
- More than 22 Inches
By Sales Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Key Players Include:
- Bridgestone Corporation
- Michelin
- Continental AG
- Pirelli & C. S.p.A
- Goodyear Tire and Rubber Company
- Sumitomo Rubber Industries
- Hankook Tire & Technology Co.
- Yokohama Rubber Co.
- Giti Tire Corporation
- Kumho Tire Co., Inc.
- Apollo Tyres Ltd.
- CEAT Limited
- Nexen Tire Corporation
- BKT (Balkrishna Industries Limited)
- Triangle Group Co., Ltd.
These industry leaders are spearheading innovation by investing in R&D to develop tires equipped with real-time data transmission capabilities and integrated software analytics platforms.
Reason to Buy This Report
- Stay ahead in an emerging market with in-depth analysis of global trends
- Identify key investment pockets and niche segments
- Understand the regulatory landscape impacting the automotive sector
- Get valuable insight into the future of mobility and digital transformation
- Equip your business with strategic data to outperform competition and capture new customer bases
Table of Contents:
- Introduction
- Executive Summary
- Market Landscape
- Research Methodology
- Market Dynamics
- Segment Analysis
- Regional Insights
- Competitive Benchmarking
- Future Opportunities
- Conclusion
For further details, feel free to reach out to us at any time: https://www.maximizemarketresearch.com/market-report/connected-tires-market/209393/
About Us:
Maximize Market Research Pvt. Ltd. is a global market research and business consulting firm delivering actionable insights to clients across multiple industries including automotive, IT, healthcare, energy, and consumer goods. Our data-driven approach and expert analysis empower businesses to make informed decisions and achieve sustainable growth.
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