Global Smart Tire Market Size, Share, Growth, and Forecast 2029| TechSci Research

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 82.57 Billion
CAGR (2024-2029)	7.99%
Fastest Growing Segment	Passenger Car
Largest Market	North America
Market Size (2029)	USD 130.74 Billion

Market Overview

The Global Smart Tire Market was valued at USD 82.57 Billion in 2023 and is expected to reach USD 130.74 Billion by 2029 with a CAGR of 7.99% during the forecast period. The Global Smart Tire Market is evolving rapidly, driven by advancements in automotive technology and the growing integration of IoT in vehicles. Smart tires, equipped with sensors to monitor tire pressure, temperature, and tread depth, provide real-time data to enhance vehicle safety and performance. The increasing adoption of autonomous and connected vehicles is propelling demand for these intelligent systems, as they play a critical role in vehicle-road interaction. Expanding fleet management operations and rising awareness about tire maintenance benefits are also contributing significantly to market growth. Emerging trends such as the integration of artificial intelligence in smart tires are reshaping the market landscape. AI-driven analytics enable predictive maintenance, optimizing tire usage and reducing downtime. The development of self-healing and adaptive tires is further advancing innovation in this sector. Partnerships between tire manufacturers and tech firms to create advanced sensor technologies are fostering competitive growth. However, the high costs associated with smart tire production and installation remain a limiting factor for widespread adoption, particularly in price-sensitive markets.

Opportunities for growth are abundant in electric and hybrid vehicle markets, as these vehicles demand efficient, data-driven tire solutions to maximize range and performance. Challenges like data security and integration with legacy vehicle systems persist, but advancements in cybersecurity and standardization efforts are gradually addressing these concerns. Increasing investments in research and development and the expansion of smart tire applications into commercial and industrial sectors position the market for substantial growth during the forecast period.

Market Drivers

Rising Adoption of Connected and Autonomous Vehicles

The increasing prevalence of connected and autonomous vehicles is a significant driver for the Global Smart Tire Market. These vehicles rely on real-time data from various sources, including smart tires, to ensure optimal performance and safety. Smart tires equipped with advanced sensors provide critical information on tire pressure, temperature, and road conditions, enhancing vehicle-road interaction. The demand for intelligent tire solutions has grown as automakers prioritize safety and efficiency in autonomous driving systems. Governments globally are also pushing for the adoption of connected technologies, further accelerating this trend. As smart mobility continues to evolve, smart tires are becoming an integral component of modern vehicles. The seamless integration of these tires with onboard systems supports the market’s expansion.

Increasing Focus on Predictive Maintenance

Predictive maintenance is gaining traction across the automotive industry, bolstering the adoption of smart tires. Fleet operators and individual consumers benefit from real-time monitoring features that identify potential tire issues before they escalate into costly problems. Smart tires provide alerts on parameters such as tread wear and air pressure, helping reduce downtime and maintenance costs. This capability is particularly valuable for commercial fleets, where operational efficiency is paramount. Advances in IoT and AI technologies are enhancing the predictive capabilities of smart tire systems. As awareness of these benefits grows, more industries are turning to smart tires for improved vehicle reliability. This focus on cost optimization and operational safety is a major market growth driver.

Advancement in Tire Sensor Technology

The rapid evolution of sensor technology is a key driver for the smart tire market. Modern sensors offer high accuracy and durability, enabling precise data collection in real-time. These advancements have made smart tires more reliable and efficient, appealing to both consumers and fleet operators. Enhanced connectivity features allow seamless integration with vehicle telematics systems, boosting their utility in diverse applications. Innovations like self-powered sensors are reducing dependency on external power sources, addressing energy efficiency concerns. With ongoing research into miniaturization and cost reduction, smart tire sensors are becoming increasingly accessible. The continual development of these technologies is ensuring sustained growth for the smart tire market, making it more attractive across automotive segments. For instance, in January 2024, TDK and Goodyear announced a strategic collaboration to advance tire intelligence technologies. The partnership aims to integrate cutting-edge sensor systems for real-time tire performance insights. This innovation targets enhanced safety, efficiency, and predictive maintenance, reinforcing their commitment to smarter mobility solutions in the automotive sector.

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Key Market Challenges

High Initial Cost of Smart Tire Technology

The adoption of smart tires is hindered by their high upfront costs compared to conventional tires. The integration of advanced sensors and communication systems significantly increases manufacturing expenses, making these tires less accessible to budget-conscious consumers. Fleet operators often face challenges in justifying the investment, particularly for large fleets where cost accumulation is substantial. This financial barrier slows adoption in price-sensitive markets, limiting the overall market penetration. Despite long-term benefits like predictive maintenance and operational efficiency, the initial cost remains a significant deterrent. Manufacturers must focus on cost optimization to make smart tires more affordable for a wider audience.

Limited Awareness and Technical Expertise

The lack of widespread awareness about the advantages of smart tires poses a challenge for market growth. Many consumers and businesses are unaware of the potential safety, performance, and maintenance benefits these tires offer. Furthermore, limited technical expertise in operating and interpreting data from smart tire systems hampers effective utilization. This issue is more pronounced in developing regions where technological adoption is slower. The absence of adequate training programs for drivers and fleet operators compounds this challenge. Bridging the knowledge gap is critical to unlocking the market's potential and promoting smart tire adoption.

Integration and Compatibility Issues

Ensuring seamless integration of smart tires with existing vehicle systems is a significant challenge. Different manufacturers often use proprietary technologies, leading to compatibility issues with diverse vehicle telematics platforms. This lack of standardization complicates installation and hinders smooth communication between smart tires and onboard systems. Fleet operators may face operational disruptions due to integration problems, discouraging their investment in these solutions. Addressing interoperability concerns is vital to streamline the adoption process. Developing industry-wide standards for smart tire technology will play a crucial role in mitigating these challenges and boosting market acceptance.

Key Market Trends

Integration of IoT and Telematics in Smart Tires

The incorporation of IoT and telematics technologies is transforming the functionality of smart tires. These tires are increasingly equipped with sensors that transmit real-time data on pressure, temperature, and wear to connected platforms. Fleet operators are leveraging this data for predictive maintenance, reducing downtime, and optimizing vehicle performance. This trend aligns with the broader shift toward connected vehicle ecosystems. The enhanced capabilities of IoT-enabled smart tires are paving the way for their adoption across industries like logistics, automotive, and public transportation.

Rising Demand for Electric and Autonomous Vehicles

The growing adoption of electric and autonomous vehicles is influencing the development of smart tire technology. These vehicles require advanced tires that can monitor and adapt to changing road conditions in real-time. Smart tires designed for EVs often focus on reducing rolling resistance to improve energy efficiency, aligning with sustainability goals. In autonomous vehicles, smart tires play a crucial role in safety and navigation by providing continuous feedback to onboard systems. This trend highlights the pivotal role of smart tires in the future of mobility.

Focus on Sustainability and Eco-Friendly Materials

The market is witnessing a shift toward sustainability, with manufacturers emphasizing eco-friendly materials in smart tire production. Advanced designs aim to minimize environmental impact while maintaining high performance. Some manufacturers are exploring the use of recyclable and biodegradable materials to align with global sustainability standards. Smart tire technologies are also being developed to monitor and optimize fuel consumption, contributing to reduced carbon emissions. This growing focus on green innovation is shaping the evolution of the smart tire industry.

Segmental Insights

Type Insight

The Global Smart Tire Market segmented by type includes pneumatic tires, which continue to play a critical role in the advancement of tire technology. Pneumatic tires, recognized for their ability to provide superior grip, shock absorption, and flexibility, are evolving with integrated smart technologies to enhance their functionality. Equipped with embedded sensors, these tires now deliver real-time data on key metrics such as tire pressure, temperature, and wear levels, enabling users to monitor performance more effectively and maintain optimal conditions for safety and efficiency

These features, pneumatic smart tires are increasingly being adopted in sectors like automotive, transportation, and logistics, where operational efficiency and vehicle uptime are critical. They support better fuel economy by maintaining proper inflation levels and contribute to reducing carbon footprints. In the context of fleet management, these smart tires assist operators in identifying potential issues before they escalate into costly failures, enhancing the reliability of vehicle operations and reducing downtime.

The adaptability of pneumatic tires to various terrains and weather conditions makes them suitable for diverse applications. Their integration with telematics and IoT platforms is revolutionizing how vehicles interact with their environment. These tires are also aligned with emerging trends in electric and autonomous vehicles, offering advanced capabilities to match the demands of modern mobility solutions. Through continuous innovation, manufacturers are focusing on enhancing durability, sustainability, and intelligence in pneumatic smart tire designs to meet the evolving needs of the market.

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Region Insights

In 2023, North America stands out as the dominant region in the Smart Tire Market. This region has seen rapid adoption of advanced automotive technologies, driven by strong consumer demand for enhanced vehicle safety, performance, and efficiency. The widespread integration of electric vehicles (EVs) and autonomous driving technologies in the U.S. has played a major role in the growth of smart tire solutions, as these vehicles require sophisticated monitoring systems to ensure optimal performance. The increasing focus on reducing carbon emissions and improving fuel efficiency in vehicles has further accelerated the adoption of smart tires, which help in maintaining tire health and optimizing vehicle operation.

The presence of leading automotive manufacturers in North America has led to substantial investments in research and development (R&D) focused on tire technologies. As automakers continue to innovate, the demand for smart tires that offer real-time monitoring of parameters like tire pressure, temperature, and wear is expected to remain strong. Additionally, the adoption of connected vehicle technologies, including tire monitoring systems, aligns with North America’s broader trend of integrating Internet of Things (IoT) solutions across various automotive components.

The commercial vehicle sector in North America also plays a pivotal role in driving market growth. Fleet operators, including those in logistics and transportation, are increasingly adopting smart tire solutions to improve maintenance schedules, reduce downtime, and enhance fuel efficiency. The ability to monitor tire health remotely allows fleet managers to make informed decisions on tire replacement and maintenance, contributing to cost savings and operational efficiency. Furthermore, with the growing emphasis on safety standards, smart tires are increasingly being used to meet regulatory requirements concerning tire performance and safety.

Recent Developments

In January 2023, JK Tyre unveiled a specialized product range designed to cater to the growing demand from electric vehicles (EVs) and SUVs. The new offerings emphasize durability, performance, and energy efficiency tailored to modern automotive needs. This launch reflects the company’s strategic focus on innovation and emerging vehicle segments.
In March 2023, Continental Tires India announced the upcoming launch of its 'Intelligent Tyres,' equipped with advanced sensor technology for real-time performance monitoring. The innovation aims to enhance safety, efficiency, and predictive maintenance for Indian motorists. This moves underscores Continental's commitment to smart mobility solutions in the evolving automotive landscape.
In September 2023, Firestone launched an upgraded regional on-road truck tire range designed for greater efficiency. The new FS424, FD624, and FT524 models feature Bridgestone’s Enliten technology, offering reduced total cost of ownership and environmental impact. These tires are suitable for steer, drive, and trailer axles, providing enhanced performance for fleet operators.

Key Market Players

Continental AG
Bridgestone Corporation
Michelin
The Goodyear Tire & Rubber Company
Pirelli Tyre S.p.A.
The Yokohama Rubber Co., Ltd
Hankook Tire & Technology Co., Ltd.
Nokian Tyres plc
Toyo Tire Corporation
JK Tyre & Industries Ltd.

By Type	By Vehicle Type	By Technology Type	By Sales Channel Type	By Region
Pneumatic Non-Pneumatic	Passenger Car Commercial Vehicle	Tire Pressure Monitoring Temperature Monitoring Tire Tread Monitoring Load Monitoring	OEM Aftermarket	North America Europe & CIS Asia-Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Smart Tire Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Global Smart Tire Market, By Type:

o Pneumatic

o Non-Pneumatic

· Global Smart Tire Market, By Vehicle Type:

o Passenger Car

o Commercial Vehicle

· Global Smart Tire Market, By Technology Type:

o Tire Pressure Monitoring

o Temperature Monitoring

o Tire Tread Monitoring

o Load Monitoring

· Global Smart Tire Market, By Sales Channel Type:

o OEM

o Aftermarket

· Global Smart Tire Market, By Region:

o North America

o Europe & CIS

o Asia Pacific

o South America

o Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Smart Tire Market.

Available Customizations:

Global Smart Tire Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Smart Tire Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer

5. Global Smart Tire Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type Market Share Analysis (Pneumatic, Non-Pneumatic)

5.2.2. By Vehicle Type Market Share Analysis (Passenger Car, Commercial Vehicle)

5.2.3. By Technology Type Market Share Analysis (Tire Pressure Monitoring, Temperature Monitoring, Tire Tread Monitoring, Load Monitoring)

5.2.4. By Sales Channel Type Market Share Analysis (OEM, Aftermarket)

5.2.5. By Regional Market Share Analysis

5.2.5.1. North America Market Share Analysis

5.2.5.2. Asia-Pacific Market Share Analysis

5.2.5.3. Europe & CIS Market Share Analysis

5.2.5.4. Middle East & Africa Market Share Analysis

5.2.5.5. South America Market Share Analysis

5.2.6. By Top 5 Companies Market Share Analysis, Others (2023)

5.3. Global Smart Tire Market Mapping & Opportunity Assessment

5.3.1. By Type Market Mapping & Opportunity Assessment

5.3.2. By Vehicle Type Market Mapping & Opportunity Assessment

5.3.3. By Technology Type Market Mapping & Opportunity Assessment

5.3.4. By Sales Channel Type Market Mapping & Opportunity Assessment

5.3.5. By Regional Market Mapping & Opportunity Assessment

6. North America Smart Tire Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type Market Share Analysis

6.2.2. By Vehicle Type Market Share Analysis

6.2.3. By Technology Type Market Share Analysis

6.2.4. By Sales Channel Type Market Share Analysis

6.2.5. By Region Market Share Analysis

6.2.5.1. United States Smart Tire Market Outlook

6.2.5.1.1. Market Size & Forecast

6.2.5.1.1.1. By Value

6.2.5.1.2. Market Share & Forecast

6.2.5.1.2.1. By Type Market Share Analysis

6.2.5.1.2.2. By Vehicle Type Market Share Analysis

6.2.5.1.2.3. By Technology Type Market Share Analysis

6.2.5.1.2.4. By Sales Channel Type Market Share Analysis

6.2.5.2. Canada Smart Tire Market Outlook

6.2.5.2.1. Market Size & Forecast

6.2.5.2.1.1. By Value

6.2.5.2.2. Market Share & Forecast

6.2.5.2.2.1. By Type Market Share Analysis

6.2.5.2.2.2. By Vehicle Type Market Share Analysis

6.2.5.2.2.3. By Technology Type Market Share Analysis

6.2.5.2.2.4. By Sales Channel Type Market Share Analysis

6.2.5.3. Mexico Smart Tire Market Outlook

6.2.5.3.1. Market Size & Forecast

6.2.5.3.1.1. By Value

6.2.5.3.2. Market Share & Forecast

6.2.5.3.2.1. By Type Market Share Analysis

6.2.5.3.2.2. By Vehicle Type Market Share Analysis

6.2.5.3.2.3. By Technology Type Market Share Analysis

6.2.5.3.2.4. By Sales Channel Type Market Share Analysis

7. Europe & CIS Smart Tire Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type Market Share Analysis

7.2.2. By Vehicle Type Market Share Analysis

7.2.3. By Technology Type Market Share Analysis

7.2.4. By Sales Channel Type Market Share Analysis

7.2.5. By Region Market Share Analysis

7.2.5.1. France Smart Tire Market Outlook

7.2.5.1.1. Market Size & Forecast

7.2.5.1.1.1. By Value

7.2.5.1.2. Market Share & Forecast

7.2.5.1.2.1. By Type Market Share Analysis

7.2.5.1.2.2. By Vehicle Type Market Share Analysis

7.2.5.1.2.3. By Technology Type Market Share Analysis

7.2.5.1.2.4. By Sales Channel Type Market Share Analysis

7.2.5.2. Germany Smart Tire Market Outlook

7.2.5.2.1. Market Size & Forecast

7.2.5.2.1.1. By Value

7.2.5.2.2. Market Share & Forecast

7.2.5.2.2.1. By Type Market Share Analysis

7.2.5.2.2.2. By Vehicle Type Market Share Analysis

7.2.5.2.2.3. By Technology Type Market Share Analysis

7.2.5.2.2.4. By Sales Channel Type Market Share Analysis

7.2.5.3. Spain Smart Tire Market Outlook

7.2.5.3.1. Market Size & Forecast

7.2.5.3.1.1. By Value

7.2.5.3.2. Market Share & Forecast

7.2.5.3.2.1. By Type Market Share Analysis

7.2.5.3.2.2. By Vehicle Type Market Share Analysis

7.2.5.3.2.3. By Technology Type Market Share Analysis

7.2.5.3.2.4. By Sales Channel Type Market Share Analysis

7.2.5.4. Italy Smart Tire Market Outlook

7.2.5.4.1. Market Size & Forecast

7.2.5.4.1.1. By Value

7.2.5.4.2. Market Share & Forecast

7.2.5.4.2.1. By Type Market Share Analysis

7.2.5.4.2.2. By Vehicle Type Market Share Analysis

7.2.5.4.2.3. By Technology Type Market Share Analysis

7.2.5.4.2.4. By Sales Channel Type Market Share Analysis

7.2.5.5. United Kingdom Smart Tire Market Outlook

7.2.5.5.1. Market Size & Forecast

7.2.5.5.1.1. By Value

7.2.5.5.2. Market Share & Forecast

7.2.5.5.2.1. By Type Market Share Analysis

7.2.5.5.2.2. By Vehicle Type Market Share Analysis

7.2.5.5.2.3. By Technology Type Market Share Analysis

7.2.5.5.2.4. By Sales Channel Type Market Share Analysis

8. Asia-Pacific Smart Tire Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type Market Share Analysis

8.2.2. By Vehicle Type Market Share Analysis

8.2.3. By Technology Type Market Share Analysis

8.2.4. By Sales Channel Type Market Share Analysis

8.2.5. By Region Market Share Analysis

8.2.5.1. China Smart Tire Market Outlook

8.2.5.1.1. Market Size & Forecast

8.2.5.1.1.1. By Value

8.2.5.1.2. Market Share & Forecast

8.2.5.1.2.1. By Type Market Share Analysis

8.2.5.1.2.2. By Vehicle Type Market Share Analysis

8.2.5.1.2.3. By Technology Type Market Share Analysis

8.2.5.1.2.4. By Sales Channel Type Market Share Analysis

8.2.5.2. Japan Smart Tire Market Outlook

8.2.5.2.1. Market Size & Forecast

8.2.5.2.1.1. By Value

8.2.5.2.2. Market Share & Forecast

8.2.5.2.2.1. By Type Market Share Analysis

8.2.5.2.2.2. By Vehicle Type Market Share Analysis

8.2.5.2.2.3. By Technology Type Market Share Analysis

8.2.5.2.2.4. By Sales Channel Type Market Share Analysis

8.2.5.3. India Smart Tire Market Outlook

8.2.5.3.1. Market Size & Forecast

8.2.5.3.1.1. By Value

8.2.5.3.2. Market Share & Forecast

8.2.5.3.2.1. By Type Market Share Analysis

8.2.5.3.2.2. By Vehicle Type Market Share Analysis

8.2.5.3.2.3. By Technology Type Market Share Analysis

8.2.5.3.2.4. By Sales Channel Type Market Share Analysis

8.2.5.4. Vietnam Smart Tire Market Outlook

8.2.5.4.1. Market Size & Forecast

8.2.5.4.1.1. By Value

8.2.5.4.2. Market Share & Forecast

8.2.5.4.2.1. By Type Market Share Analysis

8.2.5.4.2.2. By Vehicle Type Market Share Analysis

8.2.5.4.2.3. By Technology Type Market Share Analysis

8.2.5.4.2.4. By Sales Channel Type Market Share Analysis

8.2.5.5. South Korea Smart Tire Market Outlook

8.2.5.5.1. Market Size & Forecast

8.2.5.5.1.1. By Value

8.2.5.5.2. Market Share & Forecast

8.2.5.5.2.1. By Type Market Share Analysis

8.2.5.5.2.2. By Vehicle Type Market Share Analysis

8.2.5.5.2.3. By Technology Type Market Share Analysis

8.2.5.5.2.4. By Sales Channel Type Market Share Analysis

8.2.5.6. Australia Smart Tire Market Outlook

8.2.5.6.1. Market Size & Forecast

8.2.5.6.1.1. By Value

8.2.5.6.2. Market Share & Forecast

8.2.5.6.2.1. By Type Market Share Analysis

8.2.5.6.2.2. By Vehicle Type Market Share Analysis

8.2.5.6.2.3. By Technology Type Market Share Analysis

8.2.5.6.2.4. By Sales Channel Type Market Share Analysis

8.2.5.7. Thailand Smart Tire Market Outlook

8.2.5.7.1. Market Size & Forecast

8.2.5.7.1.1. By Value

8.2.5.7.2. Market Share & Forecast

8.2.5.7.2.1. By Type Market Share Analysis

8.2.5.7.2.2. By Vehicle Type Market Share Analysis

8.2.5.7.2.3. By Technology Type Market Share Analysis

8.2.5.7.2.4. By Sales Channel Type Market Share Analysis

9. Middle East & Africa Smart Tire Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type Market Share Analysis

9.2.2. By Vehicle Type Market Share Analysis

9.2.3. By Technology Type Market Share Analysis

9.2.4. By Sales Channel Type Market Share Analysis

9.2.5. By Region Market Share Analysis

9.2.5.1. South Africa Smart Tire Market Outlook

9.2.5.1.1. Market Size & Forecast

9.2.5.1.1.1. By Value

9.2.5.1.2. Market Share & Forecast

9.2.5.1.2.1. By Type Market Share Analysis

9.2.5.1.2.2. By Vehicle Type Market Share Analysis

9.2.5.1.2.3. By Technology Type Market Share Analysis

9.2.5.1.2.4. By Sales Channel Type Market Share Analysis

9.2.5.2. Saudi Arabia Smart Tire Market Outlook

9.2.5.2.1. Market Size & Forecast

9.2.5.2.1.1. By Value

9.2.5.2.2. Market Share & Forecast

9.2.5.2.2.1. By Type Market Share Analysis

9.2.5.2.2.2. By Vehicle Type Market Share Analysis

9.2.5.2.2.3. By Technology Type Market Share Analysis

9.2.5.2.2.4. By Sales Channel Type Market Share Analysis

9.2.5.3. UAE Smart Tire Market Outlook

9.2.5.3.1. Market Size & Forecast

9.2.5.3.1.1. By Value

9.2.5.3.2. Market Share & Forecast

9.2.5.3.2.1. By Type Market Share Analysis

9.2.5.3.2.2. By Vehicle Type Market Share Analysis

9.2.5.3.2.3. By Technology Type Market Share Analysis

9.2.5.3.2.4. By Sales Channel Type Market Share Analysis

9.2.5.4. Turkey Smart Tire Market Outlook

9.2.5.4.1. Market Size & Forecast

9.2.5.4.1.1. By Value

9.2.5.4.2. Market Share & Forecast

9.2.5.4.2.1. By Type Market Share Analysis

9.2.5.4.2.2. By Vehicle Type Market Share Analysis

9.2.5.4.2.3. By Technology Type Market Share Analysis

9.2.5.4.2.4. By Sales Channel Type Market Share Analysis

10. South America Smart Tire Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1.1.1.1. By Type Market Share Analysis

10.2.1.1.1.2. By Vehicle Type Market Share Analysis

10.2.1.1.1.3. By Technology Type Market Share Analysis

10.2.1.1.1.4. By Sales Channel Type Market Share Analysis

10.2.2. By Region Market Share Analysis

10.2.2.1. Brazil Smart Tire Market Outlook

10.2.2.1.1. Market Size & Forecast

10.2.2.1.1.1. By Value

10.2.2.1.2. Market Share & Forecast

10.2.2.1.2.1. By Type Market Share Analysis

10.2.2.1.2.2. By Vehicle Type Market Share Analysis

10.2.2.1.2.3. By Technology Type Market Share Analysis

10.2.2.1.2.4. By Sales Channel Type Market Share Analysis

10.2.2.2. Argentina Smart Tire Market Outlook

10.2.2.2.1. Market Size & Forecast

10.2.2.2.1.1. By Value

10.2.2.2.2. Market Share & Forecast

10.2.2.2.2.1. By Type Market Share Analysis

10.2.2.2.2.2. By Vehicle Type Market Share Analysis

10.2.2.2.2.3. By Technology Type Market Share Analysis

10.2.2.2.2.4. By Sales Channel Type Market Share Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Impact of COVID-19 on Global Smart Tire Market

12.1. Impact Assessment Model

12.1.1. Key Segments Impacted

12.1.2. Key Regions Impacted

12.1.3. Key Countries Impacted

13. Market Trends & Developments

14. Competitive Landscape

14.1. Company Profiles

14.1.1. Continental AG

14.1.1.1. Company Details

14.1.1.2. Vehicles

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Key Market Focus & Geographical Presence

14.1.1.5. Recent Developments

14.1.1.6. Key Management Personnel

14.1.2. Bridgestone Corporation

14.1.2.1. Company Details

14.1.2.2. Vehicles

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Key Market Focus & Geographical Presence

14.1.2.5. Recent Developments

14.1.2.6. Key Management Personnel

14.1.3. Michelin

14.1.3.1. Company Details

14.1.3.2. Vehicles

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Key Market Focus & Geographical Presence

14.1.3.5. Recent Developments

14.1.3.6. Key Management Personnel

14.1.4. The Goodyear Tire & Rubber Company

14.1.4.1. Company Details

14.1.4.2. Vehicles

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Key Market Focus & Geographical Presence

14.1.4.5. Recent Developments

14.1.4.6. Key Management Personnel

14.1.5. Pirelli Tyre S.p.A

14.1.5.1. Company Details

14.1.5.2. Vehicles

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Key Market Focus & Geographical Presence

14.1.5.5. Recent Developments

14.1.5.6. Key Management Personnel

14.1.6. The Yokohama Rubber Co., Ltd

14.1.6.1. Company Details

14.1.6.2. Vehicles

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Key Market Focus & Geographical Presence

14.1.6.5. Recent Developments

14.1.6.6. Key Management Personnel

14.1.7. Hankook Tire & Technology Co., Ltd.

14.1.7.1. Company Details

14.1.7.2. Vehicles

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Key Market Focus & Geographical Presence

14.1.7.5. Recent Developments

14.1.7.6. Key Management Personnel

14.1.8. Nokian Tyres plc

14.1.8.1. Company Details

14.1.8.2. Vehicles

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Key Market Focus & Geographical Presence

14.1.8.5. Recent Developments

14.1.8.6. Key Management Personnel

14.1.9. Toyo Tire Corporation

14.1.9.1. Company Details

14.1.9.2. Vehicles

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Key Market Focus & Geographical Presence

14.1.9.5. Recent Developments

14.1.9.6. Key Management Personnel

14.1.10. JK Tyre & Industries Ltd.

14.1.10.1. Company Details

14.1.10.2. Vehicles

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Key Market Focus & Geographical Presence

14.1.10.5. Recent Developments

14.1.10.6. Key Management Personnel

15. Strategic Recommendations/Action Plan

15.1. Key Focus Areas

15.2. Target By Technology Type

15.3. Target By Vehicle Type

15.4. Target By Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Smart Tire Market in 2023?

The market size of the Global Smart Tire Market was estimated to be USD 82.57 Billion in 2023.

What are the major drivers for the Global Smart Tire Market?

Key drivers for the global smart tire market include advancements in automotive technology, increasing demand for safety features, growth in electric vehicles, fleet management optimization, and rising consumer awareness about tire maintenance.

Which was the fastest growing segment in terms of vehicle type in the Global Smart Tire Market in 2023?

In 2023, the passenger car segment emerged as the fastest-growing vehicle type in the global smart tire market. This growth was driven by increasing consumer demand for enhanced safety features, real-time monitoring, and fuel efficiency, as well as the growing adoption of electric vehicles (EVs) and connected car technologies. The rise in automotive innovation, particularly in tire monitoring systems, contributed significantly to the rapid expansion of this segment.

Which is the dominant region in the Global Smart Tire Market?

North America is the dominant region in the Global Smart Tire Market. The region's strong automotive industry, along with a high demand for advanced vehicle technologies, has contributed significantly to the adoption of smart tires. Increased investment in research and development of connected vehicle systems and a growing emphasis on safety and efficiency in the automotive sector have also supported market growth. The presence of major automotive manufacturers and tire producers in the region further reinforces North America's leading position in the market.

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