Connected Tire Market: Advent Of Connected Vehicle Technologies Is Driving The Growth Of The Market

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Connected tire is an advanced tire which uses sensors and cyber technologies to sense and transmit the data of the running vehicle to the vehicle console display or the smartphone for the driver to evaluate. Connected tires use Tire Pressure Monitoring System (TPMS) as well as an array of other temperature and pressure sensors to monitor, analyze, and report the status of the tire, maintenance need, and alert in case of deviation from standard feed values.

Advent of connected vehicle technologies and digital trends is driving the growth of the connected tire market. Competition among automakers is high and OEMs are offering unique features such as connected tires or smart tires as the product differentiating factor. Increased demand for vehicle performance and demand from auto partners to integrate sensors to match customer needs is driving the connected tire market. Increased demand for vehicle safety, rise in consumer awareness, and growing stringency in government regulations pertaining to vehicle safety standards is expected to boost the demand for connected tires. Connected tires are safer as they alert the driver in case of puncture or tire deflation. Consumers are updated about the tire maintenance needs and prevent breakdown.

Connected tires face new design challenges with significant changes in design of the treads and sidewalls. The Eagle-360 tire by Goodyear has a spherical shape as against the round shape of the tire. To mount the connected tire the vehicle should have supporting connected technology.

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Based on vehicle type, the global connected tire market is segmented into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Connected vehicle technologies have higher penetration in passenger cars with majority of new vehicles sold in North America and Europe being connected vehicles. The passenger vehicle segment thus holds a major share in the connected tire market.

By sales channel, the global connected tire market is segmented into OEM and aftermarket. The OEM segment is expanding at a higher rate as growing number of new vehicles sold are utilizing connected and automation technologies to optimize the performance, minimize energy, and improve safety.

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Based on region, the global connected tire market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe and North America lead the connected tire market as TPMS technology is prevalent in the regions. Penetration of connected vehicles is high in Europe and North America and these regions have high consumer spending on technologies.

Key players operating in the global connected tire market are The Goodyear Tire & Rubber Co., Pirelli & C. S.p.A., Michelin, Continental AG, The Yokohama Rubber Co., Ltd., and Bridgestone Corporation. Bridgestone Corporation is working to develop a connected tire–wheel interface named ‘ClearMotion,’ with air-spring and anti-vibration. Continental AG has introduced connected tires based on technologies such as ContiSense and ContiAdapt. The ContiSense connected tire uses electrically conductive rubber to transmit signals from tire to the car receiver.

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