Analysis of Key Market Segments Influencing the Connected Tires Market

The connected tires industry is poised for remarkable expansion as advancements in vehicle technology and smart mobility continue to accelerate. This market is gaining traction due to growing demand for real-time vehicle insights and the increasing presence of electric and connected vehicles on the roads. Let's explore the current market size, key players, technological trends, and segment dynamics driving this sector forward.

Projected Market Size of the Connected Tires Industry by 2030
The connected tires market is forecasted to experience rapid growth, reaching a value of $0.07 billion by 2030. This expansion corresponds to an impressive compound annual growth rate (CAGR) of 36.5%. Factors propelling this growth include the rise of connected vehicles, growing adoption of electric vehicles, increasing need for real-time vehicle data, integration of AI-driven analytics, and the broader push toward smart mobility solutions. Prominent trends shaping the market involve the use of tire sensor technologies, a shift toward predictive tire maintenance, expanded application in commercial fleets, increased OEM fitment, and a heightened focus on improving vehicle safety and efficiency.

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Leading Companies Driving Innovation in the Connected Tires Market
Key players in the connected tires space include well-established names such as 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, and Transense Technologies plc.

In a notable development from September 2024, Germany's Bosch partnered with Italy's Pirelli to co-develop advanced smart tire technology. This collaboration aims to create next-generation intelligent tires that enhance safety, connectivity, and performance, while stimulating innovation and growth within the connected tires market. Bosch brings expertise in automotive technologies and mobility solutions, whereas Pirelli is renowned for its high-performance tire manufacturing.

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Emerging Trends Impacting the Connected Tires Industry
Manufacturers in the connected tires market are heavily investing in smart TPMS (tire pressure monitoring system) sensors to boost vehicle safety, efficiency, and overall performance. These advanced sensors provide continuous, real-time monitoring of tire pressure and temperature, which is crucial for maintaining optimal tire conditions and ensuring driver safety.

For example, in September 2023, Infineon Technologies AG, a German semiconductor firm, introduced the XENSIV SP49 tire pressure monitoring sensor. This device offers highly accurate pressure readings and is built to withstand challenging environmental conditions, ensuring long-term reliability. It seamlessly integrates with vehicle electronics and supports wireless data transmission, enabling real-time alerts to drivers about any critical changes in tire pressure.

Segment Analysis and Market Share in the Global Connected Tires Market
The connected tires market is segmented across several categories to provide a detailed understanding of its structure:
1) By Component: Tire Pressure Monitoring Systems, Accelerometer Sensors, Strain Gauge Sensors, Radio-Frequency Identification (RFID) 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

Further detailed subsegments include:
- Tire Pressure Monitoring Systems split into Direct and Indirect TPMS
- Accelerometer Sensors divided into Vibration Sensors, Vibration Monitoring Systems, and Impact Detection Sensors
- Strain Gauge Sensors categorized as Tire Load Monitoring Sensors, Deformation Measurement Sensors, and Tread Wear Sensors
- RFID Chips classified into Passive, Active, and Hybrid RFID types

This segmentation helps capture the diverse technological elements and applications within the connected tires industry, offering insight into market trends and opportunities.

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This release was published on openPR.