Connected Tire Market to Reach of ~US$ 200 Mn by 2030 - TMR

Tire and rubber manufacturers are making significant investments to develop connected solutions and products that have improved productivity potential. Likewise, stakeholders in the connected tire market are focusing on increased offerings for new tire products with intelligent functions and systems that help leverage the uptime of connected tires.

Similarly, connected tires are becoming a large segment of the Internet of Things (IoT) network. Connected tires are embedded with sensors that make driving safer and more convenient for consumers. The sensors collect important data and information that can be used to assess the vertical load in cars. Thus, the technology used in connected tires is not only beneficial for consumers, but the collected data and information can also be assessed by OEMs (Original Equipment Manufacturers) with the help of the IoT network, so as to identify the limitations of the tires and strategize technological innovations to overcome the same. Information acquired from connected tires can help stakeholders provide personalized and proficient advice for uses such as optimal tire pressure adjustment, to improve their performance in the long run.

The global connected tire market for the forecast period of 2020–2030. According to the report, the global connected tire market is projected to reach ~US$ 200 Mn by 2030, expanding at a CAGR of ~75% during the forecast period of 2020 to 2030.

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Key Brands mentioned in this report - Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Company, Continental AG, and Pirelli & C.S.p.A.

Connected Tire Market: Research Methodology

This TMR report on the connected tire market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competitive scenario of the connected tire market is provided by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the connected tire market arrive at predictions and estimations, and calculate the forecast for the market.

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This report uses an analytical triangulation method to estimate the numbers and figures of the connected tire market, with both, a bottom-up and top-down approach. Interviews were conducted with stakeholders of aftermarkets, opinion leaders, distributors, vendors, and industry experts.

This detailed assessment of the connected tire market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the connected tire market is set to grow are based on carefully-vetted primary and secondary sources.