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Global Connected Tires Market to reach USD XX billion by the end of 2030.

Global Connected Tires Market Size study & Forecast, by Vehicle Type (Passenger Cars, Commercial Vehicles), by Rim Size (12" – 17" Inches, 18" – 21" Inches, More than 22 Inches") and Regional Analysis, 2023-2030

Product Code: ALTAMC-39840593
Publish Date: 30-10-2023
Page: 200

Global Connected Tires Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Connected tires, also known as smart or intelligent tires, refer to a new generation of automotive tires equipped with advanced sensor technology and wireless connectivity. These tires are designed to communicate with the vehicle’s onboard systems and external networks, bringing a multitude of benefits and applications to the automotive industry. The primary application of connected tires lies in enhancing vehicle safety and performance. With integrated sensors, these tires continuously monitor crucial parameters such as tire pressure, temperature, tread wear, and road conditions in real time. By collecting and analyzing this data, connected tires can provide valuable insights into the vehicle’s electronic control systems, allowing for more precise and adaptive handling, improved traction control, and better stability. The key factor driving the market growth is increasing focus on vehicle safety, growing demand for autonomous and connected vehicles, rising integration of advanced features in vehicles, and growing adoption of the intelligent transportation system by commercial vehicles fleet operators that are anticipated to support the market growth during the forecast period 2023-2030.

Moreover, the growing demand for connected vehicles has a significant impact on the Connected Tires Market. Thus, the growing demand for connected vehicles is anticipated to support the market growth. According to Statista, in 2020, the globally connected car market was valued at USD 55.56 billion; in 2022 the market reached USD 75.74 billion, and it is anticipated to reach USD 120.53 billion by 2025. As a result, the growing connected vehicles market is anticipated to propel the market growth. Additionally, supportive government initiatives and the growing production of electric vehicles are anticipated to create lucrative opportunities for the market during the forecast period 2023-2030. However, the lack of standardization and high cost of connected tire stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Connected Tires Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the presence of key market players, continuous advancements in automotive technology, increasing focus on vehicle safety, growing demand for fuel efficiency, and a rise in vehicle connectivity and IoT integration. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the increasing demand for smart and connected vehicles, growing focus on vehicle safety, advancements in IoT and automotive technologies, rising consumer awareness and preference, and growing automotive industry in the region.

Major market player included in this report are:
The Michelin Group (France)
Pirelli & C. S.p.A. (Italy)
Goodyear Tire & Rubber Company (U.S.)
Continental AG (Germany)
Bridgestone Corporation (Japan)
Nokian Tyres plc (Finland)
Trelleborg AB (Sweden)
Sumitomo Rubber Industries, Ltd (Japan)
JK Tyres Ltd (India)
Toyo Tire Corporation (Japan)

Recent Developments in the Market:
Ø In January 2020, Bridgestone Corporation launched a new connected smart tyre with sensors. These are used in commercial fleets to warn about tyre pressure and analyse and change tyre pressure. Bridgestone’s new connected tyre is designed to provide more information to ADAS to improve collision prevention.

Global Connected Tires Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Vehicle Type, Rim Size, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Passenger Cars
Commercial Vehicles
By Rim Size:
12″ – 17″ Inches
18″ – 21″ Inches
More than 22 Inches”
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Connected Tires Market, by Region, 2020-2030 (USD Billion)
1.2.2. Connected Tires Market, by Vehicle Type, 2020-2030 (USD Billion)
1.2.3. Connected Tires Market, by Rim Size, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Connected Tires Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Connected Tires Market Dynamics
3.1. Connected Tires Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing focus on vehicle safety Growing demand for the autonomous and connected vehicles Rising integration of advanced features in vehicles Growing adoption of intelligent transportation systems by commercial vehicles fleet operators
3.1.2. Market Challenges Lack of standardization High cost of connected tire
3.1.3. Market Opportunities Supportive government initiatives Growing production of electric vehicles
Chapter 4. Global Connected Tires Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Connected Tires Market, by Vehicle Type
5.1. Market Snapshot
5.2. Global Connected Tires Market by Vehicle Type, Performance – Potential Analysis
5.3. Global Connected Tires Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
5.4. Connected Tires Market, Sub Segment Analysis
5.4.1. Passenger Cars
5.4.2. Commercial Vehicles
Chapter 6. Global Connected Tires Market, by Rim Size
6.1. Market Snapshot
6.2. Global Connected Tires Market by Rim Size, Performance – Potential Analysis
6.3. Global Connected Tires Market Estimates & Forecasts by Rim Size 2020-2030 (USD Billion)
6.4. Connected Tires Market, Sub Segment Analysis
6.4.1. 12″ – 17″ Inches
6.4.2. 18″ – 21″ Inches
6.4.3. More than 22 Inches”
Chapter 7. Global Connected Tires Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Connected Tires Market, Regional Market Snapshot
7.4. North America Connected Tires Market
7.4.1. U.S. Connected Tires Market Vehicle Type breakdown estimates & forecasts, 2020-2030 Rim Size breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Connected Tires Market
7.5. Europe Connected Tires Market Snapshot
7.5.1. U.K. Connected Tires Market
7.5.2. Germany Connected Tires Market
7.5.3. France Connected Tires Market
7.5.4. Spain Connected Tires Market
7.5.5. Italy Connected Tires Market
7.5.6. Rest of Europe Connected Tires Market
7.6. Asia-Pacific Connected Tires Market Snapshot
7.6.1. China Connected Tires Market
7.6.2. India Connected Tires Market
7.6.3. Japan Connected Tires Market
7.6.4. Australia Connected Tires Market
7.6.5. South Korea Connected Tires Market
7.6.6. Rest of Asia Pacific Connected Tires Market
7.7. Latin America Connected Tires Market Snapshot
7.7.1. Brazil Connected Tires Market
7.7.2. Mexico Connected Tires Market
7.8. Middle East & Africa Connected Tires Market
7.8.1. Saudi Arabia Connected Tires Market
7.8.2. South Africa Connected Tires Market
7.8.3. Rest of Middle East & Africa Connected Tires Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. The Michelin Group (France) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Pirelli & C. S.p.A. (Italy)
8.3.3. Goodyear Tire & Rubber Company (U.S.)
8.3.4. Continental AG (Germany)
8.3.5. Bridgestone Corporation (Japan)
8.3.6. Nokian Tyres plc (Finland)
8.3.7. Trelleborg AB (Sweden)
8.3.8. Sumitomo Rubber Industries, Ltd (Japan)
8.3.9. JK Tyres Ltd (India)
8.3.10. Toyo Tires Corporation (Japan)
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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