Connected Tire Market to Reach USD 246.51 Billion by 2032

The connected tire market is expected to experience significant growth over the coming years, driven by advancements in technology, increased demand for safer and smarter vehicles, and the growing trend toward digitalization in the automotive sector. As the automotive industry continues to evolve with innovations like electric vehicles (EVs) and autonomous driving, connected tires are emerging as a key component of these transformative changes. This research delves into the connected tire market's size, share, and projected growth trends up to 2032.

What is a Connected Tire?

Connected tires are advanced tires that use embedded sensors, communication devices, and other technologies to monitor and transmit real-time data about the tire’s performance, condition, and environment. These tires are integrated with vehicle systems and external infrastructure to provide valuable insights, such as tire pressure, temperature, wear levels, and road conditions, enhancing vehicle safety, performance, and efficiency.

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Market Outlook and Growth Projections (2032)

The global connected tire market is projected to grow at a CAGR (Compound Annual Growth Rate) of over 45% between 2025 and 2032. By 2032, the market size is expected to reach USD 246.51 billion, up from USD 12.62 billion in 2024. The continuous advancements in sensor technologies, IoT, and the growing demand for safety and performance in vehicles will continue to propel the market forward.

Key players in the market include tire manufacturers like Michelin, Bridgestone, Goodyear, and Continental, as well as automotive companies such as Ford, BMW, and Tesla, which are investing heavily in connected tire technologies.

Market Drivers

1. Rising Demand for Vehicle Safety and Performance: With the automotive industry increasingly prioritizing safety and performance, connected tires provide real-time information on tire health, preventing accidents caused by underinflated or damaged tires. This leads to improved fuel efficiency, reduced tire wear, and lower maintenance costs.

2. Growth of Electric and Autonomous Vehicles: The growth of electric vehicles (EVs) and the rise of autonomous driving are major factors fueling the demand for connected tires. As EVs become more prevalent, their dependence on high-performance tires, which can support energy efficiency and provide real-time monitoring, increases. Similarly, autonomous vehicles, which rely heavily on data from various sensors, can significantly benefit from connected tire technology.

3. Government Regulations on Safety: Stringent government regulations and safety standards concerning tire performance, especially in markets like North America and Europe, are driving tire manufacturers and automakers to integrate smart tire technologies. Regulations regarding tire pressure monitoring systems (TPMS) and environmental considerations are expected to accelerate the adoption of connected tires.

4. Technological Advancements in IoT and Sensor Technology: The rapid evolution of the Internet of Things (IoT), sensor technologies, and wireless communication is a key enabler of the connected tire market. These technologies allow seamless connectivity between tires, vehicles, and infrastructure, enhancing data accuracy and enabling predictive maintenance.

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Market Segmentation

The connected tire market can be segmented based on technology, vehicle type, end-user, and region.

1. By Technology

- TPMS (Tire Pressure Monitoring System): This is one of the most commonly used technologies in connected tires, providing real-time tire pressure data and alerting the driver when the pressure falls below the recommended level.

- Temperature and Wear Monitoring Sensors: These sensors provide insights into tire temperature and wear levels, which can help prevent tire failure and ensure optimal performance.

- Advanced Communication Systems: Some connected tires include systems that can communicate with the vehicle’s onboard system or cloud-based platforms to analyze tire data and optimize performance.

2. By Vehicle Type

- Passenger Vehicles: The largest share of connected tires is found in passenger vehicles, driven by the increasing adoption of smart technologies in personal cars and light commercial vehicles.

- Commercial Vehicles: Commercial vehicles, including trucks, buses, and logistics fleets, are also significant consumers of connected tires, with a focus on maximizing fleet efficiency and minimizing downtime through predictive tire maintenance.

3. By End-User

- OEMs (Original Equipment Manufacturers): Tire manufacturers and vehicle manufacturers are key players in the OEM segment, working together to integrate connected tires into new vehicles.

- Aftermarket: The aftermarket sector is gaining traction as more consumers seek to upgrade their existing vehicles with connected tires for enhanced safety and performance.

Regional Insights

1. North America: North America is one of the largest markets for connected tires, driven by the region's well-established automotive industry, high adoption of advanced technologies, and stringent safety regulations. The U.S. is a major contributor to the demand for connected tire systems, with an increasing number of tire manufacturers adopting advanced tire monitoring solutions.

2. Europe: Europe is another key region for the connected tire market, largely due to the strong presence of leading automakers, technological advancements, and consumer preference for smart and high-performance vehicles. The European Union’s stringent regulatory standards on tire safety and performance further promote the growth of connected tire technologies.

3. Asia-Pacific: The Asia-Pacific region is expected to witness the highest growth in the connected tire market, fueled by the rapid expansion of the automotive sector in countries like China, Japan, and India. The demand for connected tires in this region is driven by the increasing adoption of smart vehicle technologies, particularly in the electric vehicle segment.

4. Rest of the World: The Middle East, Africa, and Latin America are emerging markets for connected tires, with increasing investments in smart technologies and the automotive industry’s gradual shift toward modernized, connected vehicle systems.

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Top Players in Connected Tire Market

1.       Continental AG (Germany)

2.       Michelin (France)

3.       Bridgestone Corporation (Japan)

4.       The Goodyear Tire & Rubber Company (US)

5.       Pirelli & C. S.p.A. (Italy)

6.       Nokian Tyres plc (Finland)

7.       Sumitomo Rubber Industries Ltd. (Japan)

8.       Hankook Tire & Technology Co., Ltd. (South Korea)

9.       Yokohama Rubber Co., Ltd. (Japan)

10.   Toyo Tire Corporation (Japan)

11.   Cooper Tire & Rubber Company (US)

12.   Kumho Tire Co., Inc. (South Korea)

13.   Giti Tire (Singapore)

14.   Apollo Tyres Ltd. (India)

15.   MRF Ltd. (India)

Market Challenges

Despite the promising outlook, the connected tire market faces certain challenges. One of the primary barriers is the high cost of connected tire systems, which can be prohibitive, especially for consumers in developing countries. Additionally, there are concerns related to data security, as connected tire systems collect vast amounts of real-time data. Ensuring robust cybersecurity measures will be essential to mitigate risks associated with data breaches or unauthorized access.

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The connected tire market is set for substantial growth in the coming years, driven by technological advancements and the increasing demand for enhanced safety, vehicle performance, and maintenance efficiency. As vehicle manufacturers continue to integrate smart technologies, connected tires will become a critical component of the automotive ecosystem. The market is poised to benefit from the rise of electric and autonomous vehicles, government regulations, and growing consumer interest in smarter transportation solutions. With continued innovation and collaboration across industries, the connected tire market is expected to see significant developments by 2032, revolutionizing the way tires interact with vehicles and their drivers.