Connected Tires Market Size Forecasted To Achieve $0.06 Billion By 2029 With Steady Growth

The Connected Tires Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Connected Tires Market Size and Projected Growth Rate?
The connected tires market is projected to grow from $0.01 billion in 2024 to $0.01 billion in 2025, with a CAGR of 42.2%. The rise is driven by efforts to reduce carbon emissions, growing demand for fleet management solutions, increased vehicle safety regulations, the adoption of smart vehicle technologies, and the increasing use of connected vehicles.

The connected tires market is projected to grow to $0.06 billion by 2029, at a CAGR of 41.8%. This growth can be attributed to the increasing demand for real-time tire monitoring, adoption of IoT and connected vehicle technologies, the focus on safety and predictive maintenance, and the rise of electric and autonomous vehicles. Trends include IoT integration, advanced sensors, smart tire technologies, digital twin tech, and subscription-based services.

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What Are the Major Segments in the Connected Tires Market?
The connected tires market covered in this report is segmented -

1) By Component: Tire Pressure Monitoring System, Accelerometer Sensors, Strain Gauge Sensors, Radio-Frequency Identification chips
2) By Rim Size: 12-17 Inches, 18-22 Inches, More than 22 Inches
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
4) By Application: Original Equipment Manufacturer (OEM), Aftermarket

Subsegments:
1) By Tire Pressure Monitoring System (Tpms): Direct Tpms, Indirect Tpms
2) By Accelerometer Sensors: Vibration Sensors, Vibration Monitoring Systems, Impact Detection Sensors
3) By Strain Gauge Sensors: Tire Load Monitoring Sensors, Deformation Measurement Sensors, Tread Wear Sensors
4) By Radio-Frequency Identification (Rfid) Chips: Passive Rfid Chips, Active Rfid Chips, Hybrid Rfid Chips

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What Are The Driving Connected Tires Market Evolution?
The growing adoption of autonomous vehicles is expected to propel the connected tires market. Autonomous vehicles, which are self-driving cars, use advanced sensors and artificial intelligence to navigate without human intervention. This trend is driven by technological advancements, environmental concerns, and changing consumer preferences. Connected tires are integral to these vehicles, providing critical data to enhance safety, performance, and efficiency. For instance, in December 2022, a U.S. report predicted that by 2025, there would be 3.5 million autonomous vehicles on U.S. highways, increasing to 4.5 million by 2030. Thus, the rise in autonomous vehicle adoption will spur the connected tires market's growth.

Which Firms Dominate The Connected Tires Market Segments?
Major companies operating in the connected tires market are MRF Limited, ZF Friedrichshafen AG, Continental AG, Bridgestone Corporation, Compagnie Générale des Établissements 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

What Are the Major Trends Shaping the Connected Tires Market?
Companies in the connected tire market are working on advanced technologies like smart TPMS sensors to improve vehicle safety and performance. TPMS sensors monitor tire pressure and temperature in real time. For example, in September 2023, Infineon Technologies AG launched the XENSIV SP49 tire pressure sensor, offering high accuracy and wireless connectivity for real-time monitoring and alerts.

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Which Is The Largest Region In The Connected Tires Market?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Connected Tires Market?
2. What is the CAGR expected in the Connected Tires Market?
3. What Are the Key Innovations Transforming the Connected Tires Industry?
4. Which Region Is Leading the Connected Tires Market?

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