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The Automotive Smart Tire Market size was estimated at USD 5.21 billion in 2023, USD 5.82 billion in 2024, and is expected to grow at a CAGR of 12.30% to reach USD 11.74 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
An automotive smart tire, also known as an intelligent tire, represents a technological advancement within the automotive industry that integrates sensors, artificial intelligence, and advanced data analytics within the tire's structure. This innovation is designed to provide real-time information on various parameters such as tire pressure, temperature, load, wear, and road conditions. The data collected from these sensors is used to improve vehicle safety, enhance driving performance, optimize maintenance, and increase the overall efficiency of tire usage. The automotive smart tire market signifies a dynamic sector focusing on the infusion of intelligent tire systems, which contribute to the broader ecosystem of connected vehicles, promoting a safer and more intelligent driving experience. The growth of this market is propelled by stringent safety mandates, a push for reduced emissions, and breakthroughs in IoT and telematics, enabling deeper integration with vehicle systems. However, the high cost of sensor technology and complex manufacturing and repair processes act as restraining factors for the market growth. Innovations, primarily in cost-efficient sensor technologies and tire designs, represent robust future growth for the automotive smart tire market.
Regional Insights
In the Americas, the market for automotive smart tires is observing substantial growth, propelled by a heightened focus on safety features and fuel efficiency, given the stringent government regulations. North America is a significant contributor to this region's market expansion, with the presence of major automotive manufacturers and tech companies that invest heavily in innovation and R&D activities related to vehicle safety and connectivity solutions. The EMEA region shows a promising trajectory in the automotive smart tire market, primarily driven by developments in the European automotive industry. The high rate of adoption of advanced technologies, including vehicle automation and connectivity systems, contributes to the market growth. Furthermore, stringent EU regulations on vehicle emissions bolster the use of smart tires due to their potential to improve fuel economy. The Middle East and Africa, while still developing in this market sector, are expected to offer potential growth opportunities owing to the expanding automotive sector and infrastructural developments. APAC is experiencing rapid growth in the automotive smart tire market, largely fueled by the burgeoning automotive industry in countries including China and India. Moreover, the rising demand for luxury vehicles equipped with the latest technologies, including smart tires, is anticipated to drive market growth in the Asia Pacific region.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Automotive Smart Tire Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive Smart Tire Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Automotive Smart Tire Market, highlighting leading vendors and their innovative profiles. These include Bridgestone Corporation, CEAT Ltd, Continental AG, DENSO Corporation, Giti Tire Pte Ltd., Goodyear Tire and Rubber Co., Hamaton Ltd, Hankook Tire & Technology Co., Ltd., Infineon Technologies AG, JK Tyre & Industries, Kumho Tire, Melexis, Michelin Group, Nokian Tyres PLC, NXP Semiconductors N.V., Panasonic Holdings Corporation, Pirelli & C. S.p.A., Revvo Technologies, Sensata Technologies, SIT by CODA DEVELOPMENT s.r.o., Sumitomo Rubber Industries Ltd., The SMART Tire Company, TireCheck, Toyo Tire Corporation, Tymtix Technologies Pvt. Ltd., ZF Friedrichshafen AG, and Zhongce Rubber Group Co., Ltd.Market Segmentation & Coverage
This research report categorizes the Automotive Smart Tire Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- RFID-Tagged Tires
- Self-Inflating Tires
- Sensors-Embedded Tires
- Engineering Technology
- Non-pneumatic Tire
- Pneumatic Tire
- Distribution Channel
- Aftermarket
- OEMs
- Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Automotive Smart Tire Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive Smart Tire Market?
- What are the technology trends and regulatory frameworks in the Automotive Smart Tire Market?
- What is the market share of the leading vendors in the Automotive Smart Tire Market?
- Which modes and strategic moves are suitable for entering the Automotive Smart Tire Market?
With the purchase of this report at the Multi-user License or greater level, you will have access to one hour with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This will need to be used within three months of purchase.
This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Automotive Smart Tire Market, by Type
7. Automotive Smart Tire Market, by Engineering Technology
8. Automotive Smart Tire Market, by Distribution Channel
9. Automotive Smart Tire Market, by Vehicle Type
10. Americas Automotive Smart Tire Market
11. Asia-Pacific Automotive Smart Tire Market
12. Europe, Middle East & Africa Automotive Smart Tire Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix
List of Figures
List of Tables
Companies Mentioned
- Bridgestone Corporation
- CEAT Ltd
- Continental AG
- DENSO Corporation
- Giti Tire Pte Ltd.
- Goodyear Tire and Rubber Co.
- Hamaton Ltd
- Hankook Tire & Technology Co., Ltd.
- Infineon Technologies AG
- JK Tyre & Industries
- Kumho Tire
- Melexis
- Michelin Group
- Nokian Tyres PLC
- NXP Semiconductors N.V.
- Panasonic Holdings Corporation
- Pirelli & C. S.p.A.
- Revvo Technologies
- Sensata Technologies
- SIT by CODA DEVELOPMENT s.r.o.
- Sumitomo Rubber Industries Ltd.
- The SMART Tire Company
- TireCheck
- Toyo Tire Corporation
- Tymtix Technologies Pvt. Ltd.
- ZF Friedrichshafen AG
- Zhongce Rubber Group Co., Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | March 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 5.82 Billion |
| Forecasted Market Value ( USD | $ 11.74 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 27 |
