(EMAILWIRE.COM, September 06, 2023 ) The total global market for the “Connected Tires Market” was valued at USD 19.34 Bn in 2022 and is expected to grow at a CAGR of 58.5 percent over the forecast period to reach USD 486.03 Bn by 2029.

Connected Tires Market Report Scope and Research Methodology

The report provides a systematic analysis of the Connected Tires Market dynamics including market drivers, challenges, opportunities and restraints. For the industrial analysis PESTLE, a SWOT analysis was used for the global Connected Tires industry study. The report included qualitative and quantitative analysis, Porter’s Five Forces analysis, and a bottom-up approach used to estimate the market size.

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Connected Tires Market Dynamics

The growing adoption of connected and automatic or autonomous vehicles due to their functionality and new advancements in tire sensor technologies are key drivers for market growth. However, the high cost for implementation cost for integration of technology is expected to restrain the market growth.

Connected Tires Market Regional Insights

North America held the largest market share in 2022 and is expected to grow at a significant CAGR during the forecast period. The regional market growth is influenced by the developing infrastructure, technology advancement and government initiatives and polices regarding green emissions.

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Connected Tires Market Segmentation

By Sale Channel

OEM
Aftermarket

By Rim Size

13-15 inches
16-18 inches
19-21 inches
Above 21 inches

By Vehicle Type

Passenger cars
Commercial vehicles
Off-road vehicles
Two-wheelers

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Connected Tires Key Players include:

Bridgestone Corporation
Michelin
Continental AG
Pirelli & C. S.p.A

Goodyear Tire and Rubber Company
Maximize Market Research is leading Engineering Equipment research firm, has also published the following reports:

Connected and Autonomous Mobility Vehicles Market- The Market size is expected to reach USD 1129.97 Bn by 2029 at a CAGR of 40.1 percent during the forecast period.

Connected Car Market - The Market size is expected to reach USD 95.44 Bn by 2029 at a CAGR of 19.02 percent during the forecast period.

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