Connected Tire Market Growth
Potential & Forecast, 2032

As per a recent research report, Connected
Tire Market surpass USD 400 million by 2032.

The surging
adoption of autonomous and electric vehicles along with the dire need for
sophisticated tire technologies to ensure safety and efficiency will support
the market growth. For instance, in June 2023, new EV registrations in the EU
surged by 66.2%, reaching 158,252 units. Connected tires, equipped with sensors
and communication modules, have grown largely popular as they enhance vehicle
performance by providing real-time data on tire pressure, temperature, and
tread wear. Thus, the rising preference for this data-driven approach to
optimize driving experiences, extend the tire lifespan, and aid in preventing
accidents will boost the product adoption.

Request
for Sample Copy report @
 https://www.gminsights.com/request-sample/detail/6131

Connected tire market from
the 18 - 22 inches rim size segment generated more than USD 2 million in 2022
and is likely to gain notable traction through 2032 driven by the rising demand
for large vehicles, such as SUVs, trucks, and high-performance cars. These
vehicles often come equipped with 18-22-inch tire sizes to provide better
stability, enhanced traction, and improved aesthetics. The surging focus of
manufacturers on launching new connected tire technologies to enhance driving
safety and performance will also propel the segment growth. For instance, in
February 2023, JK Tyre & Industries, a leading tire producer, launched a
wide range of smart tires for trucks to reduce costs for boosting the tire life
by at least 10%.

The tire pressure
monitoring system (TPMS) segment accounted for significant revenue share in the
connected tire market and is anticipated to record more than 46% CAGR from
2023-2032. Lately, numerous countries and regions have implemented regulations
for mandating the adoption of TPMS in vehicles for improving road safety and
reducing accidents caused by improper tire pressure. With vehicle owners
prioritizing safety and eco-friendliness, the demand for TPMS-equipped
connected tires is gaining tremendous traction. The surging deployment of TPMS
technology for ensuring optimal tire pressure, enhancing safety, fuel
efficiency, and tire lifespan will also add to the market expansion.

Request
for customization this report @
   https://www.gminsights.com/roc/6131

Europe
connected tires market generated more than USD 1.5 million in revenue in 2022
and is set to witness over 47.5% CAGR from 2023-2032. The growth can be
attributed to stringent safety regulations, technological innovations and the
presence of environmentally conscious consumer demands. Several governments
across the region are subsidizing the transition from traditional-fueled
automobiles to electric alternatives to accelerate the progress towards
net-zero carbon emissions over the next decade. Additionally, the surging
efforts led by industry participants to address the rising end-user needs will
fuel the industry revenue. For instance, in June 2023, Continental introduced
the UltraContact NXT, a connected tire with high proportion of sustainable
components and maximum EU tire-label performance in volume manufacturing.

Partial
chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Connected
tire market 360º synopsis, 2018 - 2032

2.2    Business
trends

2.2.1    Total
Addressable Market (TAM)

2.3    Regional
trends

2.4    Rim size
trends

2.5    Component
trends

2.6    Vehicle
type trends

2.7   
Propulsion trends

2.8    Sales
channel trends

Chapter 3   Connected Tire Market Insights

3.1    Impact on
COVID-19

3.2    Russia-
Ukraine war impact

3.3    Industry
ecosystem analysis

3.4    Vendor
matrix

3.5    Profit
margin analysis

3.6   
Technology & innovation landscape

3.7    Patent
analysis

3.8    Key news
and initiatives

3.8.1   
Partnership/Collaboration

3.8.2   
Merger/Acquisition

3.8.3   
Investment

3.8.4    Product
launch & innovation

3.9   
Regulatory landscape

3.10    Impact
forces

3.10.1    Growth
drivers

3.10.1.1    The
rising adoption of connected vehicles

3.10.1.2   
Emphasis on vehicle safety

3.10.1.3   
Improved fuel efficiency

3.10.1.4   
Enhanced driver experience and convenience

3.10.1.5    Rise
of autonomous and electric vehicles

3.10.2   
Industry pitfalls & challenges

3.10.2.1    High
initial investments

3.10.2.2    Data
security and privacy concerns

3.11    Growth
potential analysis

3.12    Porter’s
analysis

3.13    PESTEL
analysis

About Global Market Insights:

Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.

Contact us:

Aashit
Tiwari

Corporate Sales, USA

Global Market Insights Inc.

Toll Free: +1-888-689-0688

USA: +1-302-846-7766

Europe: +44-742-759-8484

APAC: +65-3129-7718

Email: sales@gminsights.com