The new and rapidly emerging global connected tire market is forecast to be worth $179 million by 2029
Accelerating from a very small base, market value will grow at an average annual rate of over 50% from 2024-29, but the technology will still be in its infancy during this forecast period, with much greater gains foreseen in the next decade.
After many years in concept and pilot status, the first meaningful commercialization of connected tires emerged in off-road applications, in commercial fleets, and in the premium light vehicle segment, but is expanding to more and broader applications.
Building on current tire pressure management systems (TPMS), connected tires are following trends towards greater vehicle connectivity, and are seen as critical components as autonomous driving technologies and predictive maintenance practices proliferate, and tire information becomes more important.
Definition:
This study takes a fresh, comprehensive look at the development and commercialization of connected tires. Adoption is being driven both at OEM and customer levels, with sensors installed at the factory, or through the automotive aftermarket on existing tires. These sensors measure and report not only tire pressure but other parameters (e.g., temperature, tread wear).
Connected tire adoption is gaining traction initially in the most technologically advanced markets, with Europe and North America dominating the market during the next five years as the technology is scaled up and more widely applied.
Key Questions:
Who are the key players and technology leaders driving the industry?
How can tire makers leverage new technology to create commercial opportunities?
What are the key mobility trends and consumer preferences driving industry change?
How will new safety and environmental regulations affect this market?
This report benefits:
Tire makers and producers of tire materials
Equipment suppliers to the tire industry
Participants in the tire markets value chain
Table of Contents
Executive summary
Key industry characteristics and drivers
Overall market forecast
Key drivers and technologies
Tire types
End-use markets
Regional markets
Supplier opportunities
Introduction and methodology
Introduction
Scope
Methodology
Definitions
Key drivers and trends
Top five drivers and trends
Macro level
Sustainability and regulation
Mobility
End uses
Technology
Macro level trends
Population and economic growth
Geopolitical tensions and transitions
Supply chain and trade
Fuel and tire/vehicle materials costs, inflation impact