According to a research report published by Spherical Insights & Consulting, the Global Connected Tires Market Size Expected to Grow from USD 7.93 Million in 2023 to USD 311.73 Million by 2033, at a CAGR of 44.36% during the forecast period 2023-2033.

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Tires are assembled with advanced technology that helps to track the tire’s health condition and transmit the data instantaneously to vehicles, which are said to be connected tires. This tire is a sensor-based system, that detects temperature management and monitors pressure, and other car-related issues. This data aids in forecasting the tire performance, deviation alerts were also helpful for emergency braking, traction control, and analyzing road conditions. Real-time time monitoring is made possible by linking tires with wireless communication with other gadgets. AI and networking coverage made it easy it transmit data to cell phones or other computer devices. These kinds of factors propel the market growth in the future. However, the high initial expenses and lack of sufficient infrastructure development hinder the market growth.

Browse key industry insights spread across 268 pages with 123 Market data tables and figures & charts from the report on the Global Connected Tires Market Size, Share, and COVID-19 Impact Analysis, By Rim Size (12 – 17 Inches, 18 – 22 Inches, and Others), By Vehicle Type (Passenger Cars, Commercial Vehicle, and Others), By Sales Channel (Aftermarket, OEM, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The 12 – 17 inches segment is anticipated to hold the largest share of the global connected tires market during the projected timeframe.

On the basis of the rim size, the global connected tires market is categorized into 12-17 inches, 18-22 inches, and others. Among these, the 12 – 17 inches segment is anticipated to hold the largest share of the global connected tires market during the projected timeframe. Conventional rim sizes are typically seen in several varieties of tires. The 12-17 inches sized tire is mostly preferred by the consumers. This rim size is suited for SUVs, and also ranges from little cars to midsized ones, which helps to boost the connected tire market.

The commercial vehicles segment is expected to grow at a rapid pace in the global connected tires market during the predicted period.  

On the basis of the vehicle type, the global connected tires market is segmented into passenger vehicle, commercial vehicle, and others. Among these, the commercial vehicles segment is expected to grow at a rapid pace in the global connected tires market during the predicted period. The commercial transportation industry needs better safety protocols, inventory management, along effectiveness improvement. If connected tires are assembled in the commercial vehicle it could be better to improve overall performance, and well maintenance without the high expenses.

The aftermarket segment is expected to grow at the fastest pace in the global connected tires market during the forecast period.

Based on the sales channel, the global connected tires market is divided into aftermarket, OEM, and others. Among these, the aftermarket segment is expected to grow at the fastest pace in the global connected tires market during the forecast period. The consumer prefers upgraded tires for their vehicle improvement so they can prefer aftermarket and give personalized reviews for the tire replacement to the tire service owners.

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Europe is anticipated to hold the largest share of the global connected tires market during the forecast period.

The technical advancement and fascinating popularity of the automobile industry propelled the market growth in Europe. Germany and the U.K. are the key players for the expansion of the connected tire market. The regional authorities such as ETRMA (European Tire & Rubber Manufacturers’ Association) tightly controlled the automobile, tires, and other components that are directly connected to laws. The European automobile industry is major including Michelin, Pirelli & C.S.p.A., and Continental AG which help to expand the market.

Asia-Pacific is anticipated to grow at a rapid pace in the global connected tires market during the forecast period. The automotive business is expanding in nations like China, India, and Japan which is the sharp rise in the need for connected and intelligent cars. Authorities’ mandates to promote vehicle safety and reduce emissions, encouraging manufacturers and consumers to adopt connected tire technologies. As a result every national and multinational producer investing in massive market expansion in the region.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global connected tires market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global connected tire market are Continental AG, Michelin, Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Hankook Tire & Technology Co. Ltd., Bridgestone Corporation, Yokohama Rubber Co. Ltd., Nexen Tire Corporation, Sumitomo Rubber Industries Ltd., BFGoodrich Tires, Toyo Tire & Rubber Co. Ltd., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In September 2024, Michelin India had laid the foundation stone for a new tire manufacturing facility in Tiruvallur, Tamil Nadu, with an investment of ₹563.67 crores. The expansion was part of Michelin’s efforts to boost production capacity for passenger car tires at its existing plant.
• In February 2024, Continental launched Conticonnect lite, a new software that serves as a portal to professional tire monitoring using sensor technology and data sharing. The technology was intended to integrate tires with the vehicle network, delivering real-time data on tire pressure and temperature.

 Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global connected tires market based on the below-mentioned segments:

Global Connected Tires Market, By Rim Size

• 12 – 17 Inches
• 18 – 22 Inches
• Others

Global Connected Tires Market, By Vehicle Type

• Passenger Cars
• Commercial Vehicle
• Others

Global Connected Tires Market, By Sales Channel

• Aftermarket
• OEM
• Others

Global Connected Tires Market, Regional

•  North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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