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%. The need for connected tires is being driven by rising road safety standards and more functions in cars. Connected tires provide increased road safety with capabilities including temperature detection, tread wear analysis, and tire pressure monitoring. Tire problems can be promptly reported to drivers and fleet managers, allowing them to take prompt action and avoid collisions. Additionally, by offering useful information for tracking and retrieving stolen vehicles, connected tires can improve vehicle security.
The portion that will increase the fastest during the projection period is more than 22 inches.
In heavy-duty vehicle categories, the projected market size for rims larger than 22 inches is typically utilized. To increase performance and safety, they need real-time tire monitoring and maintenance systems. For these vehicles, Tier 1 vendors have begun creating linked tires. For example, Continental AG created the Conti Connect Live system, which gathers data from sensors on truck tires larger than 22 inches in diameter using Internet of Things technology. Drivers and fleet managers receive real-time notifications from the system, which continuously checks tire pressure, temperature, load, and speed. This lowers the possibility of tire-related mishaps and saves money on tire replacements by enabling them to take action prior to a tire breakdown. This technology is a useful answer for the heavy-duty and commercial vehicle categories since it can save expenses and increase operational efficiency.
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The market will be led by demand for TPMS systems throughout the forecast period.
In the market for linked tires, TPMS is an essential sensor component since it facilitates real-time tire pressure monitoring, guaranteeing peak tire performance and fuel economy. The growing need for convenience and safety features in automobiles is one of the main factors behind TPMS’s expansion. Consequently, several automakers are now making TPMS systems a regular element of their cars. The Michelin Vision Concept tire, for example, has an integrated tire pressure monitoring system (TPMS) that continuously checks tire pressure and sends the information to the car’s onboard computer. This lowers the possibility of tire blowout-related incidents and increases vehicle safety.
The strict government laws pertaining to car safety and pollution are another important motivator for TPMS. For example, in the United States, the National Highway Traffic Safety Administration (NHTSA) has required that a TPMS system be installed in all new passenger cars. As a result, TPMS system use has significantly increased in nations like China, South Korea, Japan, and others. The Pirelli P Zero and the Continental ContiSportContact 5P are two well-known tire variants with TPMS systems.
“Europe’s connected tire market will be led by Germany.”
Germany’s established automotive sector and technical improvements have made it the largest connected tire market in Europe. Numerous variables are propelling the connected tire market’s expansion in Germany. Numerous well-known automakers call the nation home. Its robust innovation culture has contributed to the automotive industry’s rapid adoption of cutting-edge technologies. In Germany, there is a sharp rise in demand for tire technologies including intelligent sensors and tire pressure monitoring systems.
In addition to tire producers, German automakers are making significant investments in connected tire technologies. For instance, the BMW Intelligent Personal Assistant, created by BMW, gives drivers information about tire pressure. The Tirefit system from Mercedes-Benz automatically checks the temperature and pressure of the tires. In a similar vein, the most recent version of the system, Continental’s ContiConnect 2.0, provides better capabilities and a better user experience. Its user-friendly dashboard allows users to rapidly spot possible problems and take preventative action by providing a detailed overview of the tire condition of their fleet. Fleet operators may make data-driven decisions and acquire insights into their operations thanks to the system’s sophisticated analytics features.
Key Market Players
The Connected tires market is dominated by major charging providers including Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany), and Pirelli (Italy) among others in the Connected tires market.
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