Drive by wire Market Synopsis
As
per the analysis by the Market Research Future Reports, the global drive by
wire market is expanding at a moderate CAGR of 5.9% during the forecast period
from 2023 to 2027. The global drive by wire market size 2023
is estimated to witness expansion during the forecast period due to the rising
sales of electric vehicles and plug-in hybrid electric vehicles across the
globe.
The
usage of drive-by-wire technology in passenger cars also provides improvements
in fault recognition and regulation. Therefore, it also reduces the cost of
maintenance of the vehicle. The rising demand for off-road vehicles has also
resulted in the demand for the drive-by-wire market. With the rising concern of increasing
pollution, various rules and regulations have been implemented by the government
of several countries.
The
usage of drive-by-wire technology in an automotive increases the fuel
efficiency of an automotive by lessening the weight of the vehicle. The use of
these systems improves the safety of the vehicle by offering computer-controlled
systems such as lane assists systems and electronic stability control. These
systems are very efficient and demand low maintenance, which increases their
demand across commercial and passenger cars. On the other hand, several
authorities believe that mechanical systems are more trustworthy.
Besides,
the drive-by-wire systems are more complicated, and hence, they are more
expensive than mechanical controls. The growth of the market is likely to be
restricted due to the low rate of adoption among several vehicle owners.
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Market
Drive-by-wire Market Key Players
·
Continental AG
·
Curtiss Wright Corp
·
TRW Automotive
·
Nissan Motor Corporation
·
S.A Citroen
·
SKF Group
·
Mobil Elektronik GmbH
·
Hitachi Automotive Systems
Ltd
·
Continental Group
·
Denso Corporation
·
ZF Friedrichshafen AG
·
Curtiss-Wright Corporation
·
Infineon Group
Drive-by-wire Market Segmentation
The
global drive by wire market can be segregated on the basis of vehicle type,
application, and region.
On
the basis of vehicle type, the global drive by wire market can be classified
into commercial vehicles and passenger cars.
Between these two segments, the commercial vehicle segment is estimated to
experience considerable growth during the review period.
On the basis of application, the global
drive by wire market can be classified into shift
by wire, brake by wire, throttle by wire,
steer by wire, and others. among all, throttle by wire is estimated to lead the
market during the review period.
On the basis of region, the global
drive by wire market can be classified into Europe, North America,
Asia-Pacific, and the Rest of the World (RoW).
Drive-by-wire Market Regional Analysis
On
the basis of region, the global drive by wire market share can
be segregated into Europe, North America, Asia-Pacific, and the Rest of the
World (RoW). As per the analysis by the MRFR, the European market is estimated
to lead the global drive-by-wire market. With the presence of countries like
Spain, Germany, Italy, Belgium, Netherlands, France, the U.K., the expansion of
the market has expanded significantly.
In
the European region, Germany is estimated to lead the market due to the
presence of the large automotive market in the region. The North American
market is expanding significantly due to the presence of developed nations like
Canada and the U.S. The regions are technically developed and are fast in
adopting the latest techniques. The APAC region is estimated to expand significantly
during the forecast period due to the presence of the fastest growing economies
of the world such as India and China.
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