The global connected tires market is expected to grow from USD 4 million in 2023 to USD 54 million by 2028, with a CAGR of 67.1%. The increasing demand for road safety and advanced vehicle features is driving the growth of the connected tires market. Connected tires offer enhanced safety on the road through features like tire pressure monitoring, tread wear analysis, and temperature sensing. Drivers and fleet managers can receive real-time alerts and notifications about tire issues, enabling them to take immediate action and prevent accidents. Additionally, connected tires contribute to vehicle security by providing valuable data for tracking and recovering stolen vehicles.
During the forecast period, the segment for rims larger than 22 inches is expected to grow at the fastest rate. These rims are typically used in heavy-duty vehicles that require real-time tire monitoring and maintenance solutions to improve safety and performance. Tier 1 providers like Continental AG have developed connected tire systems for these vehicles, such as the ContiConnect Live system. This system uses IoT technology to collect data from sensors on truck tires larger than 22 inches, providing real-time alerts to drivers and fleet managers. The adoption of such technology reduces the risk of tire-related incidents and saves costs on tire replacements, making it valuable for the commercial and heavy-duty vehicle segments.
Request Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=55087515
The demand for Tire Pressure Monitoring Systems (TPMS) is expected to lead the market during the forecast period. TPMS is a crucial sensing component in the connected tires market as it helps monitor tire pressure in real-time, ensuring optimal tire performance and fuel efficiency. Increasingly, automakers are integrating TPMS systems as a standard feature in vehicles to meet the demand for safety and convenience features. Government regulations on vehicle safety and emissions also drive the adoption of TPMS systems. For example, the National Highway Traffic Safety Administration (NHTSA) mandates the installation of TPMS systems in all new passenger cars in the United States, leading to increased adoption in countries like China, South Korea, and Japan.
Germany is expected to lead the connected tires market in Europe. The country’s well-established automotive industry and technological advancements drive the market’s growth. Germany is home to leading automotive companies that invest in connected tire technologies. For example, BMW offers the BMW Intelligent Personal Assistant, which provides tire pressure information to drivers, while Mercedes-Benz has the Tirefit system that monitors tire pressure and temperature. Continental’s ContiConnect 2.0 offers advanced functionality and analytics capabilities for fleet operators. These tire technologies, along with a culture of innovation, contribute to Germany’s dominance in the connected tires market.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=55087515
Major players in the connected tires market include Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany), and Pirelli (Italy), among others. These companies are at the forefront of developing and providing connected tire solutions to meet the growing market demand.
Related Reports:
Connected Car Market – Global Forecast to 2026
Connected Rail Market – Global forecast to 2027
Connected Motorcycle Market – Global Forecast to 2027
