INTELLIGENT TIRES MARKET

KEY FINDINGS

• One thing that stands out is the rapid deployment of smart connectivity features in tires. These smart tires are equipped with sensors and communication technology, enabling real-time data collection and analysis. This quality reflects a standard shift in conventional tires, providing improved safety, better performance, and predictable maintenance capabilities
• We anticipate a major shift from basic TPMS towards connected tires. Connected tires offer a broader range of data (pressure, temperature, tread wear, road conditions) and seamless integration with vehicle computers and smartphone apps. This empowers drivers with real-time insights and facilitates proactive maintenance.
• We expect a growing integration of intelligent features with run-flat tires. This convergence will offer enhanced safety benefits, allowing drivers to receive alerts about damage while maintaining limited mobility after a puncture.
• A dedicated intelligent tire segment for EVs is likely to emerge. These tires will be optimized for weight distribution specific to EVs and address unique wear patterns caused by regenerative braking.
• The aftermarket channel for intelligent tires is expected to experience explosive growth. As consumer awareness of intelligent tire benefits increases, demand for retrofitting existing vehicles will surge.
• The Asia Pacific region will be the primary driver of market growth. Government investments in smart cities and connected infrastructure projects, coupled with a growing middle class, will fuel rapid adoption of intelligent tires.
• The widespread adoption of Internet of Things (IoT) technology is driving smart tires. IoT integration facilitates seamless communication between tyres, vehicles and external systems, leading to improvements in tire monitoring, analysis and control This trend is expected to drive the demand for intelligent tire solutions in end-use segments including automotive, automotive and transportation infrastructure
• Growing interest and investment in autonomous vehicle technology is fueling the demand for smart tires. As autonomous vehicles have become mainstream, the need for tires to be able to adapt to dynamic driving conditions and communicate with vehicle systems is important Smart tires equipped with a AI and functions such as automatic tire pressure control and tire damage monitoring are set to play a key role in ensuring the safety and effective autonomous operation of fleets
• The use of smart tires will provide significant improvements in fleet management, which is essential if cost-effective tire maintenance and high-performance real-time tire analysis and diagnostic capabilities are to be provided they operate in shipping are able to strongly deal with issues such as airflow, irregularities and potential hazards It is particularly evident in industries such as logistics, transportation and distribution , where fleet upgrades are paramount.

INTELLIGENT TIRES MARKET OVERVIEW

• The global smart tire market is experiencing significant growth, driven by a combination of technological advancements, increasing safety and efficiency, and increasing regulatory issues. It is growing at xx% CAGR from 2023 onwards until 2030. Market size is estimated to reach $xx billion by 2030.
• AI, IoT, Machine Learning Technological innovations such as these are reshaping the traditional tire industry, enabling real-time, controlled monitoring prediction, and improving performance.
• Growing concerns about road safety and environmental sustainability are driving the adoption of smart tire solutions, and governments are implementing stricter regulations to mandate monitoring tire pressure to reduce carbon emissions.
• Partnerships between tire manufacturers, automotive OEMs, and technology suppliers foster market expansion and accelerate product development, including strategic agreements for the transfer of knowledge and associated services.
• The Asia-Pacific region is emerging as a key growth market, owing to rapid urbanization, increasing vehicle sales and supportive government policies promoting smart mobility solutions.
• Despite significant progress, challenges such as high initial investment costs, data security concerns, and compatibility issues with existing vehicle systems remain barriers especially for market players.
• Overall, the global smart tires market presents compelling opportunities for innovation and investment, where industry shareholders can take advantage of emerging trends through technological advancements, market expansion strategies and focus on sustainable development to gain competitive advantage in the growing environment.

INTRODUCTION

Intelligent tires, also known as smart tires or smart tyres, represent a groundbreaking advancement in automotive technology, seamlessly blending cutting-edge innovations with traditional tire functionality. These tires are equipped with embedded sensors, microprocessors, and communication technologies, enabling real-time monitoring, analysis, and optimization of various performance metrics.

By harnessing the power of artificial intelligence, Internet of Things (IoT), and advanced analytics, intelligent tires revolutionize the way vehicles interact with their surroundings, enhancing safety, efficiency, and overall driving experience.

Intelligent tires go beyond conventional tire functionalities by providing actionable insights into tire health, road conditions, and vehicle dynamics. They continuously monitor parameters such as tire pressure, temperature, tread wear, and road surface conditions, allowing for proactive maintenance, predictive analytics, and adaptive control systems.

This proactive approach not only improves vehicle safety by preventing accidents caused by underinflated tires or tread wear but also enhances fuel efficiency, extends tire lifespan, and reduces carbon emissions.

Intelligent tires play a pivotal role in the era of connected and autonomous vehicles, serving as a critical interface between the vehicle and its environment. By seamlessly integrating with vehicle systems and external platforms, intelligent tires enable data-driven decision-making, autonomous vehicle navigation, and fleet management optimization. They facilitate real-time communication between vehicles, infrastructure, and cloud-based platforms, paving the way for safer, smarter, and more sustainable transportation systems.

In this dynamic landscape of automotive innovation, intelligent tires represent a convergence of advanced technologies, regulatory imperatives, and market demand for safer, more efficient mobility solutions. As the automotive industry embraces digital transformation and sustainability goals, intelligent tires emerge as a cornerstone technology, driving forward the vision of a connected, autonomous, and sustainable future.

INTELLIGENT TIRES MARKET SIZE AND FORECAST

The Global Intelligent Tires Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

INTELLIGENT TIRES MARKET RECENT TECHNOLOGICAL TRENDS

Advanced Sensor Integration: Beyond the traditional pressure and temperature sensors, tire manufacturers are incorporating a wider range of sensors like:

• Strain Gauges: These measure deformations in the tire carcass, providing insights into load distribution and potential damage.
• Accelerometers: These can detect changes in vehicle dynamics, indicating issues like uneven wear or potential road hazards.
• RFID Chips: Embedded chips can store tire identification data and service history, streamlining maintenance and improving traceability.

Connectivity Boost with 5G: The transition to 5G technology is a game-changer for intelligent tires. 5G offers:

• Faster data transmission: Real-time data from sensors can be transmitted and processed quicker, enabling more responsive actions and preventative maintenance.
• Enhanced communication range: Vehicles can potentially communicate with each other and roadside infrastructure, sharing data on road conditions and potential hazards, promoting overall safety on the road.

Self-Healing Technology: While still under development, some companies are exploring self-healing tire materials. These materials could automatically seal minor punctures, extending tire life and reducing roadside emergencies.

AI-powered Predictive Maintenance: Integrating Artificial Intelligence (AI) with sensor data can lead to predictive maintenance capabilities. AI algorithms can analyze tire data and predict potential issues before they become major problems, allowing for proactive maintenance and cost savings.

Bio-derived and Sustainable Materials: Sustainability is a growing concern. The development of bio-derived and sustainable materials for intelligent tires is gaining traction. This could reduce the environmental impact of tire production and disposal while maintaining performance.

INTELLIGENT TIRES MARKET RECENT LAUNCHES

Goodyear launched the Goodyear IntelliConnect System in 2023. This system combines intelligent tires equipped with pressure and temperature sensors with a cloud-based data platform. Fleet managers can access real-time tire health data, optimizing tire maintenance schedules, reducing downtime, and improving fuel efficiency for their vehicles.

Continental is at the forefront of self-healing tire technology. In 2022, they unveiled their Seal Inside concept tire. This tire incorporates a self-sealing sealant layer that automatically closes small punctures, extending tire life and potentially reducing roadside emergencies. While not yet commercially available, this technology represents a significant advancement in intelligent tire design.

This Bridgestone-funded startup made a splash in 2023 with their Treadsense tire monitoring system. This system utilizes embedded sensors to track pressure, temperature, and tread wear. Uniquely, Treadsense leverages a smartphone app to display real-time tire data and send alerts to drivers, promoting proactive tire care and safety. 

Michelin launches the Uptis Prototype in 2020. This airless tire concept boasts built-in support structures, eliminating the risk of flat tires and integrating sensors to monitor pressure and temperature. They recently announced a partnership with General Motors to equip a fleet of Chevrolet Bolt electric vehicles with Uptis prototypes for real-world testing, slated to begin later in Q3 2024.

INTELLIGENT TIRES MARKET SEGMENTATION

By product Type

• Connected Tires
• Intelligent Tires/TPMS (Tire Pressure Monitoring System)

By Sensor Type

• TPMS Sensors
• Accelerometer Sensors
• Strain Gauge Sensors
• RFID Chips
• Other Sensors

By Technology

• Pneumatic Tires
• Run-Flat Tires
• Non-Pneumatic Tires

By Vehicle Type

• Passenger Cars
• Commercial Vehicles
• Electric Vehicles (EVs)

By Geography

• North America
• Europe
• China
• Asia Ex China
• ROW

INTELLIGENT TIRES MARKET COMPANY PROFILES

• Continental AG
• Bridgestone Corporation
• Michelin
• Pirelli & C. S.p.A.
• The Goodyear Tire & Rubber Company
• Hankook Tire & Technology Co., Ltd.
• Sumitomo Rubber Industries, Ltd.
• Yokohama Rubber Co., Ltd.

INTELLIGENT TIRES MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What are the recent technological advancements driving the growth of the intelligent tires market?
2. How does the adoption of artificial intelligence and IoT impact the development of intelligent tires?
3. What are the key factors influencing the demand for intelligent tires across different vehicle types?
4. How are regulatory standards and policies affecting the adoption of intelligent tire technology globally?
5. What are the emerging trends in the aftermarket segment of the intelligent tires market?
6. What role do collaborative partnerships and alliances play in shaping the competitive landscape of the intelligent tires market?
7. How are intelligent tire solutions being integrated into autonomous vehicle systems for enhanced performance and safety?
8. What are the regional dynamics and growth opportunities in the intelligent tires market across different geographies?
9. What are the key challenges and constraints faced by industry players in the development and commercialization of intelligent tire technologies?
10. How are consumer preferences and purchasing behavior evolving in response to the availability of intelligent tire solutions?
11. What are the market entry strategies adopted by new players and startups in the intelligent tires market?
12. How are tire manufacturers incorporating sustainability and environmental considerations into the design and production of intelligent tires?
13. What are the implications of digitalization and connectivity trends on the future growth trajectory of the intelligent tires market?
14. How do pricing strategies and competitive pricing dynamics impact market penetration and profitability for intelligent tire products?
15. What are the emerging applications and use cases for intelligent tires beyond traditional passenger and commercial vehicle segments?
16. What are the key market dynamics, including drivers, restraints, opportunities, and challenges influencing the growth of the intelligent tires market.
17. Competitive landscape, profiling major players, their product portfolios, key strategies, and recent developments.
18. Analysis of market size and forecast for both volume (units) and value (USD) of intelligent tires, segmented by region, vehicle type, technology, and application.