PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460725
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460725
Connected Tire Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Key Highlights
The connected tire market was USD 3,963.2 million in 2023, which will touch USD 145,357.4 million, with a 67.4% CAGR, by 2030.
With the increasing number of accidents annually, the need for safety features is increasing. This technology offers real-time data regarding the vehicle speed, temperature, tire pressure, and various other operational parameters, enabling users to take action to avoid problems from happening, instead of responding to them.
The constant technological improvements help make automobiles safer. With the improvements in 5G services and the IoT, connected tires can transmit real-time information to the owner without any interruption or delay.
Smart and connected vehicles are the major trends in this industry. Connected tires offer real-time data regarding their operational conditions to a central control room through the Internet, which assists in reducing fuel consumption and decreasing the force that opposes motion. This technology utilizes sensors to offer remote tracking as well as maintenance assistance.
These sensors, which are incorporated into the tires themselves, gather real-time data on different parameters. Based on this, the embedded software enhanced driving to guarantee the tires can be employed for as long as possible, therefore, decreasing maintenance expenditures.
Market Analysis
Accelerometer sensors will advance at the fastest rate, of 67.8%, in the years to come. This is because they are employed to track performance parameters like tire shape changes, shock, and vibrations while driving on rough surfaces.
Passenger cars was the largest contributor to the industry in 2023, with approximately 70% share. This can be primarily because of the extensive adoption of personal transportation and advancements in automotive technology.
12-17 inches will advance at the fastest rate, of 67.6%, in the years to come. As the need for connected cars rises, an advanced tire control system is essential. 17-inch tires are employed on different kinds of vehicles, including SUVs, sedans, coupes, and even pickup trucks.
Original equipment manufacturers (OEM) led the industry in 2023, with approximately 65% share. This can be because original
equipment manufacturers have large distribution networks and partnerships with automotive dealerships globally because of which they can distribute their products globally efficiently and able to reach many customers.
Aftermarket will advance at the fastest compound annual growth rate, of 67.9%, in the years to come. This will be because of the rising need for aftermarket connected tire solutions as consumers want to upgrade their automobiles with modern technology.
Software is advancing at the fastest CAGR because of the rising need for real-time control tire performance, amidst the growing emphasis on road safety.
Europe led the industry in 2023, and it will also advance at the fastest rate, of 68.2%, in the years to come. The growth of the regional industry is primarily because of the high vehicle ownership, coupled with the rising need for advanced safety features in automobiles.
The connected tire industry is consolidated in nature. Some major players are concentrating on developing tires with more safety features and greater performance. Other key players are also offering various options to satisfy customers' demands.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by offering
- 1.4.2. Market size breakdown, by sensor type
- 1.4.3. Market size breakdown, by propulsion type
- 1.4.4. Market size breakdown, by vehicle type
- 1.4.5. Market size breakdown, by rim size
- 1.4.6. Market size breakdown, by sales channel
- 1.4.7. Market size breakdown, by region
- 1.4.8. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Offering (2017-2030)
- 6.3. Market Revenue, by Sensor Type (2017-2030)
- 6.4. Market Revenue, by Propulsion Type (2017-2030)
- 6.5. Market Revenue, by Vehicle Type (2017-2030)
- 6.6. Market Revenue, by Rim Size (2017-2030)
- 6.7. Market Revenue, by Sales Channel (2017-2030)
- 6.8. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Offering (2017-2030)
- 7.3. Market Revenue, by Sensor Type (2017-2030)
- 7.4. Market Revenue, by Propulsion Type (2017-2030)
- 7.5. Market Revenue, by Vehicle Type (2017-2030)
- 7.6. Market Revenue, by Rim Size (2017-2030)
- 7.7. Market Revenue, by Sales Channel (2017-2030)
- 7.8. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Offering (2017-2030)
- 8.3. Market Revenue, by Sensor Type (2017-2030)
- 8.4. Market Revenue, by Propulsion Type (2017-2030)
- 8.5. Market Revenue, by Vehicle Type (2017-2030)
- 8.6. Market Revenue, by Rim Size (2017-2030)
- 8.7. Market Revenue, by Sales Channel (2017-2030)
- 8.8. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Offering (2017-2030)
- 9.3. Market Revenue, by Sensor Type (2017-2030)
- 9.4. Market Revenue, by Propulsion Type (2017-2030)
- 9.5. Market Revenue, by Vehicle Type (2017-2030)
- 9.6. Market Revenue, by Rim Size (2017-2030)
- 9.7. Market Revenue, by Sales Channel (2017-2030)
- 9.8. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Offering (2017-2030)
- 10.3. Market Revenue, by Sensor Type (2017-2030)
- 10.4. Market Revenue, by Propulsion Type (2017-2030)
- 10.5. Market Revenue, by Vehicle Type (2017-2030)
- 10.6. Market Revenue, by Rim Size (2017-2030)
- 10.7. Market Revenue, by Sales Channel (2017-2030)
- 10.8. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Offering (2017-2030)
- 11.3. Market Revenue, by Sensor Type (2017-2030)
- 11.4. Market Revenue, by Propulsion Type (2017-2030)
- 11.5. Market Revenue, by Vehicle Type (2017-2030)
- 11.6. Market Revenue, by Rim Size (2017-2030)
- 11.7. Market Revenue, by Sales Channel (2017-2030)
- 11.8. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Offering (2017-2030)
- 12.3. Market Revenue, by Sensor Type (2017-2030)
- 12.4. Market Revenue, by Propulsion Type (2017-2030)
- 12.5. Market Revenue, by Vehicle Type (2017-2030)
- 12.6. Market Revenue, by Rim Size (2017-2030)
- 12.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Offering (2017-2030)
- 13.3. Market Revenue, by Sensor Type (2017-2030)
- 13.4. Market Revenue, by Propulsion Type (2017-2030)
- 13.5. Market Revenue, by Vehicle Type (2017-2030)
- 13.6. Market Revenue, by Rim Size (2017-2030)
- 13.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Offering (2017-2030)
- 14.3. Market Revenue, by Sensor Type (2017-2030)
- 14.4. Market Revenue, by Propulsion Type (2017-2030)
- 14.5. Market Revenue, by Vehicle Type (2017-2030)
- 14.6. Market Revenue, by Rim Size (2017-2030)
- 14.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Offering (2017-2030)
- 15.3. Market Revenue, by Sensor Type (2017-2030)
- 15.4. Market Revenue, by Propulsion Type (2017-2030)
- 15.5. Market Revenue, by Vehicle Type (2017-2030)
- 15.6. Market Revenue, by Rim Size (2017-2030)
- 15.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Offering (2017-2030)
- 16.3. Market Revenue, by Sensor Type (2017-2030)
- 16.4. Market Revenue, by Propulsion Type (2017-2030)
- 16.5. Market Revenue, by Vehicle Type (2017-2030)
- 16.6. Market Revenue, by Rim Size (2017-2030)
- 16.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Offering (2017-2030)
- 17.3. Market Revenue, by Sensor Type (2017-2030)
- 17.4. Market Revenue, by Propulsion Type (2017-2030)
- 17.5. Market Revenue, by Vehicle Type (2017-2030)
- 17.6. Market Revenue, by Rim Size (2017-2030)
- 17.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Offering (2017-2030)
- 18.3. Market Revenue, by Sensor Type (2017-2030)
- 18.4. Market Revenue, by Propulsion Type (2017-2030)
- 18.5. Market Revenue, by Vehicle Type (2017-2030)
- 18.6. Market Revenue, by Rim Size (2017-2030)
- 18.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Offering (2017-2030)
- 19.3. Market Revenue, by Sensor Type (2017-2030)
- 19.4. Market Revenue, by Propulsion Type (2017-2030)
- 19.5. Market Revenue, by Vehicle Type (2017-2030)
- 19.6. Market Revenue, by Rim Size (2017-2030)
- 19.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Offering (2017-2030)
- 20.3. Market Revenue, by Sensor Type (2017-2030)
- 20.4. Market Revenue, by Propulsion Type (2017-2030)
- 20.5. Market Revenue, by Vehicle Type (2017-2030)
- 20.6. Market Revenue, by Rim Size (2017-2030)
- 20.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Offering (2017-2030)
- 21.3. Market Revenue, by Sensor Type (2017-2030)
- 21.4. Market Revenue, by Propulsion Type (2017-2030)
- 21.5. Market Revenue, by Vehicle Type (2017-2030)
- 21.6. Market Revenue, by Rim Size (2017-2030)
- 21.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Offering (2017-2030)
- 22.3. Market Revenue, by Sensor Type (2017-2030)
- 22.4. Market Revenue, by Propulsion Type (2017-2030)
- 22.5. Market Revenue, by Vehicle Type (2017-2030)
- 22.6. Market Revenue, by Rim Size (2017-2030)
- 22.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Offering (2017-2030)
- 23.3. Market Revenue, by Sensor Type (2017-2030)
- 23.4. Market Revenue, by Propulsion Type (2017-2030)
- 23.5. Market Revenue, by Vehicle Type (2017-2030)
- 23.6. Market Revenue, by Rim Size (2017-2030)
- 23.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Offering (2017-2030)
- 24.3. Market Revenue, by Sensor Type (2017-2030)
- 24.4. Market Revenue, by Propulsion Type (2017-2030)
- 24.5. Market Revenue, by Vehicle Type (2017-2030)
- 24.6. Market Revenue, by Rim Size (2017-2030)
- 24.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Offering (2017-2030)
- 25.3. Market Revenue, by Sensor Type (2017-2030)
- 25.4. Market Revenue, by Propulsion Type (2017-2030)
- 25.5. Market Revenue, by Vehicle Type (2017-2030)
- 25.6. Market Revenue, by Rim Size (2017-2030)
- 25.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Offering (2017-2030)
- 26.3. Market Revenue, by Sensor Type (2017-2030)
- 26.4. Market Revenue, by Propulsion Type (2017-2030)
- 26.5. Market Revenue, by Vehicle Type (2017-2030)
- 26.6. Market Revenue, by Rim Size (2017-2030)
- 26.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Offering (2017-2030)
- 27.3. Market Revenue, by Sensor Type (2017-2030)
- 27.4. Market Revenue, by Propulsion Type (2017-2030)
- 27.5. Market Revenue, by Vehicle Type (2017-2030)
- 27.6. Market Revenue, by Rim Size (2017-2030)
- 27.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Offering (2017-2030)
- 28.3. Market Revenue, by Sensor Type (2017-2030)
- 28.4. Market Revenue, by Propulsion Type (2017-2030)
- 28.5. Market Revenue, by Vehicle Type (2017-2030)
- 28.6. Market Revenue, by Rim Size (2017-2030)
- 28.7. Market Revenue, by Sales Channel (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Bridgestone Corporation
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Michelin North America Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Goodyear Tire & Rubber Company
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Continental AG
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Pirelli & C. S.p.A.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Nokian Tyres plc
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Trelleborg AB
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Sumitomo Rubber Industries, Ltd.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. JK Tyres
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Toyo Tires
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. THE YOKOHAMA RUBBER CO. LTD.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
