Automotive Smart Tire Market Market Overview
Automotive Smart Tire Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 10.3 Billion by 2030, growing at a CAGR of 19.3% from 2024 to 2030.
Market Size and Opportunity Analysis for Global Automotive Smart Tire Market
The global automotive smart tire market was valued at approximately $1.5 billion in 2023 and is projected to reach around $4.8 billion by 2028, growing at a compound annual growth rate (CAGR) of 25.3% during the forecast period. This significant growth reflects the increasing adoption of smart tire technology driven by the rising demand for enhanced vehicle safety, performance, and fuel efficiency. Smart tires, equipped with sensors and advanced technology, offer real-time data on tire conditions, which aids in preventive maintenance and enhances driving comfort.
Opportunities within this market are bolstered by advancements in sensor technology and increasing investments in research and development. As automotive manufacturers and consumers alike recognize the benefits of smart tires, such as improved safety and reduced maintenance costs, the market is set to expand. Additionally, the integration of smart tires with vehicle-to-everything (V2X) communication systems and the growing emphasis on autonomous vehicles are expected to further drive market growth. The evolving regulatory landscape aimed at improving road safety is also anticipated to contribute positively to the market’s expansion.
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Who are the largest Global manufacturers in the Automotive Smart Tire Market?
By Tire Type
- Passenger Tires
- SUV and Light Truck Tires
- Heavy-Duty Tires
- Motorcycle Tires
- Specialty Tires (e.g., agriculture, construction)
By Technology Integration
- TPMS (Tire Pressure Monitoring System)
- Smart Sensors
- IoT Connectivity
- Data Analytics Capabilities
- Self-Inflating Technology
By End-User Application
- Passenger Vehicles
- Commercial Fleets
- Ride-Sharing Services
- Emergency Vehicles
- High-Performance Vehicles
By Distribution Channel
- OEM (Original Equipment Manufacturers)
- Aftermarket
- Online Sales Platforms
- Retail Tire Stores
- Fleet Management Service Providers
By Vehicle Type
- Two-Wheelers
- Passenger Vehicles
- Commercial Vehicles
- Electric Vehicles
- Autonomous Vehicles
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Segmentation of Automotive Smart Tire Market-
Which regions are leading the Global Automotive Smart Tire Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global Automotive Smart Tire Market Research Report, 2024-2031
1. Introduction of the Global Automotive Smart Tire Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Research
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global Automotive Smart Tire Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Automotive Smart Tire Market, By Type
6. Global Automotive Smart Tire Market, By Application
7. Global Automotive Smart Tire Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Automotive Smart Tire Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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