Connected Tires Market Worth $54 Million By 2028 Marketsandmarketstm
Browse 177 market data Tables and 71 Figures spread through 225 Pages and in-depth TOC on " Connected Tires Market - Global Forecast to 2028"
Connected Tires Market Size & Forecast:
- Market Size Available for Years: 2023–2028 2023 Market Size: USD 4 million 2028 Projected Market Size: USD 54 million CAGR (2023–2028): 67.1%
Connected Tires Market Trends & Insights:
- The market growth is driven Increase demand for vehicle safety. New technological trends are shaping the market. One of the most notable is the emergence of 5G connectivity, which promises faster data transfer speeds and more reliable connections.
- More than 22 Inches segment to grow at the fastest rate during the forecast period
- Demand for TPMS systems to lead the market during forecast period Germany to lead the connected tires market in Europe.
Download PDF Brochure @
Growing demand for road safety, increased vehicle features are driving the demand for connected tires. With features like tire pressure monitoring, tread wear analysis, and temperature sensing, connected tires offer enhanced safety on the road. Drivers and fleet managers can receive timely alerts and notifications about tire issues, enabling them to take immediate action and prevent accidents. Additionally, connected tires can contribute to vehicle security by providing valuable data for tracking and recovering stolen vehicles.
More than 22 Inches segment to grow at the fastest rate during the forecast period
The estimated market size of more than 22 inch rims is generally used in heavy-duty vehicle segments. They require real-time tire monitoring and maintenance solutions to improve safety and performance. Tier 1 providers have been developing connected tyees for these vehicles. Continental AG for instance, has developed the ContiConnect Live system, which uses IoT technology to collect data from sensors on truck tires larger than 22 inches in diameter. The system continuously monitors tire pressure, temperature, load, and speed, providing real-time alerts to drivers and fleet managers. This allows them to take action before a tire failure occurs, reducing the risk of tire-related incidents and saving money on tire replacements. This technology can also improve operational efficiency and reduce costs, making it a valuable solution for the commercial and heavy-duty vehicle segments.
Request Sample Pages@
Demand for TPMS systems to lead the market during forecast period
TPMS is a vital sensing component in the connected tires market as it helps in monitoring tire pressure in real-time, ensuring optimal tire performance and fuel efficiency. One of the primary growth drivers for TPMS is the increasing demand for safety and convenience features in vehicles. As a result, many automakers are now integrating TPMS systems in their vehicles as a standard feature. For instance, the Michelin Vision Concept tire is equipped with a built-in TPMS system that continuously monitors the tire pressure and transmits the data to the vehicle's onboard computer. This helps improve vehicle safety and reduce the risk of accidents caused by tire blowouts.
Another significant driving factor for TPMS is the stringent government regulations regarding vehicle safety and emissions. For instance, the National Highway Traffic Safety Administration (NHTSA) has mandated that all new passenger cars must have a TPMS system installed in the United States. This has led to a significant increase in the adoption of TPMS systems in the countries such as China, South Korea, Japan, etc. Some popular tire models equipped with TPMS systems include the Continental ContiSportContact 5P and the Pirelli P Zero.
Germany to lead the connected tires market in Europe
Germany is the largest connected tires market in Europe due to its well-established automotive industry and technological advancements. The growth of the connected tires market in Germany is driven by several factors. The country is home to several leading automotive companies. It has a strong culture of innovation, which has led to a high adoption rate of advanced technologies in the automotive sector. The demand for tire technologies, such as tire pressure monitoring systems and intelligent sensors, is increasing rapidly in Germany.
In addition to tire manufacturers, automotive companies in Germany are investing heavily in connected tire technologies. For example, BMW has developed the BMW Intelligent Personal Assistant, which provides drivers with tire pressure information. Mercedes-Benz offers a Tirefit system that automatically monitors tire pressure and temperature. Similarly, Continental's ContiConnect 2.0, the system's latest version, offers enhanced functionality and improved user experience. It features an intuitive dashboard that gives users a clear overview of their fleet's tire status, enabling them to identify potential issues and take proactive measures quickly. The system includes advanced analytics capabilities, allowing fleet operators to gain insights into their operations and make data-driven decisions.
Inquire Before Buying@
Top Companies in Connected Tires Market:
The Top Companies in Connected Tires Market
Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting
Related Reports:
Connected Car Market - Global Forecast to 2030
Connected Motorcycle Market - Global Forecast to 2032
Connected Rail Market - Global Forecast to 2027
Automotive Software Market - Global Forecast to 2030
CONTACT: About MarketsandMarketsTM: MarketsandMarketsTM has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarketsTM is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStoreTM, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit TM.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarketsTM INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA: +1-888-600-6441 Email:... Visit Our Website:
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.

Comments
No comment