Connected Tires Market including Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany) and Other Top Players

"Growing demand for driver safety and increased vehicle connectivity will lead the market."

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 Tires 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.

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"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 sub segment 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.

In the age of rapid technological advancement, even the most traditional components of vehicles are getting a futuristic upgrade. Enter connected tires, a groundbreaking innovation that is reshaping the driving experience and road safety. These high-tech tires are equipped with sensors and cutting-edge technology, transforming them into intelligent components that communicate crucial information to both drivers and vehicle systems.

Connected tires go beyond the basic functions of providing traction and support. Integrated sensors monitor tire pressure, temperature, tread depth, and even road conditions in real time. This data is transmitted to the vehicle's onboard computer, enabling drivers to receive instant alerts and insights. Maintaining proper tire pressure and tread depth not only enhances fuel efficiency but also reduces the risk of accidents caused by tire-related issues.

Moreover, connected tires contribute to road safety by generating data on road conditions, such as slippery surfaces or potholes, which can be shared with other vehicles in the vicinity. This collective information fosters a safer driving environment and helps prevent accidents.

Fleet management also benefits from connected tires, as companies can remotely monitor their vehicles' tire health, schedule maintenance, and optimize routes for efficiency.

As technology continues to transform the automotive industry, connected tires stand as a prime example of how innovation can elevate everyday components to new levels of intelligence and functionality. These smart tires are paving the way for a future where vehicles communicate seamlessly with their surroundings, making journeys not only smarter but also safer for all road users.

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