2025-2034 Connected Tires Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Connected Tires Market Through 2025?
In recent times, the market size for connected tires has seen a massive expansion. Moving forward, predictions indicate an increase from $0.01 billion in 2024 to $0.01 billion in 2025, given a compound annual growth rate (CAGR) of 42.2%. Factors that contributed to this growth during the historical period include increased efforts towards carbon emission reduction, a surge in demand for fleet management solutions, heightened regulatory attention to vehicle safety, an uptick in the acceptance of smart vehicle technologies, and a surge in the utilization of connected vehicles.

What's the Projected Size of the Global Connected Tires Market by 2029?
The market size for connected tires is anticipated to experience an impressive surge in the upcoming years, reaching $0.06 billion by 2029, with a compound annual growth rate (CAGR) of 41.8%. Factors propelling growth during the prediction period include the escalating demand for real-time monitoring of tire performance, increasing reliance on IoT and connected vehicle technologies, mounting attention to vehicle safety and predictive maintenance, growing demand for transportation sustainability and fuel efficiency, and the widespread acceptance of electric and autonomous vehicles. Some of the significant trends during this forecast period consist of the integration with IoT ecosystems, superior sensor technologies, advancements in smart tire technologies, digital twin technology, and the onset of subscription-based tire services.

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Top Growth Drivers in the Connected Tires Industry: What's Accelerating the Market?
The rising utilization of self-driving cars is projected to fuel the expansion of the connected tires industry. Autonomous vehicles, which navigate and operate with no human involvement, are equipped with sophisticated sensors, cameras, radar, and AI technology. The shift towards these vehicles is primarily due to tech advancements, ecofriendly concerns, and evolving consumer tastes. Connected tires, providing vital data to boost safety, performance, efficiency, and user interaction, are integral to these self-driving vehicles, rendering them vital in the evolution of modern transport. For example, as per the National Association of Insurance Commissioners, a non-profit organization based in the US, it's projected that by 2025, the US highways will accommodate 3.5 million autonomous vehicles, with this number reaching 4.5 million by 2030. Consequently, the growing trends towards autonomous and electric vehicles are likely to stimulate the connected tires market's growth.

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What Trends Will Shape the Connected Tires Market Through 2029 and Beyond?
Leading entities in the connected tires market are concentrating their efforts on developing cutting-edge technologies, such as intelligent TPMS sensors, which are aimed at improving the safety, efficacy, and performance of vehicles. Intelligent TPMS sensors represent an advanced technological tool within tires that allow for the real-time monitoring of both tire pressure and temperature. The data provided by TPMS sensors is vital for the safe and efficient performance of vehicles, offering constant information on tire condition to both drivers and vehicle systems. For example, Infineon Technologies AG, a semiconductor manufacturer based in Germany, presented the XENSIV SP49 tire pressure monitoring sensor to the market in September 2023. The XENSIV SP49 sensor offers precision in tire pressure measurement, thereby enhancing vehicle safety and performance. It is engineered to endure harsh environmental conditions in order to ensure its reliable functionality over long durations. It is also integrated smoothly with vehicle electronics and facilitates wireless connectivity for effective data transmission to on-board systems or external devices. This ensures real-time monitoring and ensures drivers are quickly informed of any discrepancies in tire pressure.

What Are the Main 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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Which Top Companies are Driving Growth in the Connected Tires Market?
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

Which Regions Will Dominate the Connected Tires Market Through 2029?
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.

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