- 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.
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?
- Tire makers and producers of tire materials
- Equipment suppliers to the tire industry
- Participants in the tire markets value chain
Arthur Mayer has many years of experience in the tire industry, working in a variety of roles at Dealer Tire and as a contract writer and consultant covering a wide range of non-technical tire topics for Smithers and its clients. He was a speaker at Smithers’s recent Traction conferences, covering the fast-emerging area of sensors and intelligent tires.
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