Connected Tire Market Size

Connected Tire Market size was valued at USD 8.7 million in 2022 and is anticipated to grow at a CAGR of over 45% between 2023 and 2032. The integration of tire sensors and systems with the expansive IoT ecosystem is making connected tires a part of the larger network of connected devices, enabling seamless data exchange, real-time monitoring, and enhanced functionality. This integration opens opportunities for predictive maintenance, advanced analytics, and vehicle-to-vehicle communication. With increasing environmental concerns, the connected tire industry is implementing sustainability initiatives. By reducing tire wear through real-time monitoring, optimizing tire pressure for fuel efficiency, and enabling predictive maintenance to extend tire lifespan, connected tires can contribute to the industry’s sustainability efforts. These benefits make connected tires appealing to eco-conscious consumers and fleet operators.

Connected tires refer to tires that are equipped with sensors and integrated with technologies to collect & transmit data about their performance, condition, and environment. These sensors measure parameters such as temperature, tire pressure, tread wear, and also road conditions. Once the data is collected, it is transmitted to a central system commonly via wireless communication for analysis and various other purposes.

The initial cost of using connected tire technology can be high. This cost includes the cost of sensors, electronic connections, and integration with vehicle systems. This high cost can limit adoption, especially from a business perspective.