Automotive Smart Tire Market size was valued at USD 2.5 Billion in 2024 and is projected to reach USD 8.1 Billion by 2033, exhibiting a CAGR of 15.5% from 2026 to 2033.
The Automotive Smart Tire Market in South Korea is undergoing a significant transformation, driven by advancements in sensor technology, increased emphasis on vehicle safety, and the rise of electric and autonomous vehicles. The market is projected to experience a compound annual growth rate (CAGR) of 8.60% from 2024 to 2032, reaching an estimated value of USD 206.39 billion by 2032.
Smart tires, equipped with advanced sensors, offer real-time monitoring of tire conditions such as pressure, temperature, and tread wear. This real-time data enhances vehicle safety, performance, and efficiency. The integration of Internet of Things (IoT) and Artificial Intelligence (AI) technologies in smart tires enables predictive maintenance, reducing the likelihood of tire-related accidents and improving overall vehicle reliability.
South Korean tire manufacturers are at the forefront of this technological evolution. Companies like NEXEN Tire Corporation have collaborated with academic institutions to develop AI-based technologies that predict tire performance during the design phase. These innovations aim to optimize fuel efficiency, reduce noise, and enhance handling characteristics.
The demand for smart tires is further fueled by the South Korean government's initiatives to promote eco-friendly vehicles and reduce carbon emissions. Programs such as the "Green Car Promotion Plan" and the "Smart Mobility Program" support research and development in intelligent tire technologies, aligning with the nation's environmental goals.
In the commercial vehicle segment, the adoption of smart tires is driven by the need for efficient fleet management and compliance with stringent safety regulations. Smart tires provide fleet operators with critical data for proactive maintenance, reducing downtime and operational costs.
As the automotive industry continues to evolve, the Automotive Smart Tire Market in South Korea is poised for substantial growth, offering opportunities for innovation and collaboration among manufacturers, technology providers, and policymakers.
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Goodyear Tire & Rubber
Pirelli
Michelin Group
NEXEN Tire
Continental
Bridgestone
Sumitomo Rubber
Hankook Tire
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Automotive Smart Tire Market
Passenger Tires
SUV and Light Truck Tires
Heavy-Duty Tires
Motorcycle Tires
Specialty Tires (e.g., agriculture, construction)
TPMS (Tire Pressure Monitoring System)
Smart Sensors
IoT Connectivity
Data Analytics Capabilities
Self-Inflating Technology
Passenger Vehicles
Commercial Fleets
Ride-Sharing Services
Emergency Vehicles
High-Performance Vehicles
OEM (Original Equipment Manufacturers)
Aftermarket
Online Sales Platforms
Retail Tire Stores
Fleet Management Service Providers
Two-Wheelers
Passenger Vehicles
Commercial Vehicles
Electric Vehicles
Autonomous Vehicles
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Automotive Smart Tire Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Automotive Smart Tire Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automotive Smart Tire Market, By Type
6. South Korea Automotive Smart Tire Market, By Application
7. South Korea Automotive Smart Tire Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automotive Smart Tire Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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