Smart Tire Market Analysis

Smart Tire Market Analysis

Based on the vehicle, the market is divided into passenger and commercial vehicles.  The passenger vehicles segment is expected to hold over 60% of the revenue share by 2032. The integration of connected vehicle technologies is driving the passenger vehicle segment growth. Smart tire systems facilitate seamless integration and tire data access through wireless communication with telematics platforms, smartphone apps, and onboard vehicle systems. Through this interface, drivers may improve their entire driving experience by remotely monitoring tire conditions, receiving maintenance notifications, and accessing personalized suggestions for tire pressure settings or replacements.
 

Based on sales channel, the market is categorized into OEM and aftermarket. In 2023, the OEM segment accounted for around 66%. Smart tire systems facilitate seamless integration and tire data access through wireless communication with telematics platforms, smartphone apps, and onboard vehicle systems. Through this interface, drivers may improve their entire driving experience by remotely monitoring tire conditions, receiving maintenance notifications, and accessing personalized suggestions for tire pressure settings or replacements. Moreover, to comply with legal obligations and address environmental concerns, OEMs are under pressure to increase fuel efficiency and lower emissions in their cars. By maximizing tire pressure and lowering rolling resistance, which reduces fuel consumption and emissions, smart tires help improve fuel efficiency. Manufacturers therefore pursue sustainability targets and cater to environmentally conscious consumers by implementing smart tire technology.
 

North America hold around 26% in 2023 is expected to grow at a high rate till 2032. Connected vehicle solutions and advanced automotive technology are in high demand in the North American market. The region is becoming increasingly aware of the advantages of smart tire technology, including increased convenience, safety, and fuel efficiency. Consequently, the sector is experiencing development and investment due to the increasing demand for automobiles that are outfitted with smart tire systems. Additionally, the growing adoption of electric vehicles and autonomous vehicles in the U.S. is driving demand for advanced tire technologies, including smart tires. EVs and AVs require specialized tire solutions to meet their unique performance and safety requirements, driving innovation in the smart tire industry.