Drive By Wire Market

Global Drive By Wire Market

Drive By Wire Market- By Application, Vehicle Type, Component and Region.

Market Synopsis:

The Global Drive By Wire Market is valued at USD 24.20 Billion in the year 2022 and is expected to reach a value of USD 36.29 Billion by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.20% over the forecast period.

Drive By Wire is a computer control technique that is mostly utilized in automobiles. It is in charge of the steering, braking, acceleration, and other vital tasks of the vehicle. Hydraulic or mechanical components carry out these operations in traditional automobiles. These mechanical parts are prone to deterioration. As a result, their efficiency decreases with time. Major important players have developed this technology, also known as X-by-wire, in order to address these obstacles.

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In the automotive business, Drive By Wire is a new technology. Mechanical systems such as intermediate shafts, master cylinders, pumps, steering columns, and other components have been replaced with high-end electronic control systems. Instead of a physical link between the accelerator and the engine, the sensor senses the driver's movement and provides a signal to the actuator, which spins the wheel and actuates the throttle. The creation of lightweight and fuel-efficient automobiles has resulted from the replacement of mechanical components.

Furthermore, leading competitors in the Global Drive By Wire Market are extending their footprint by concentrating on new and innovative technology as well as more efficient transmission systems. The rise in the number of smart city development projects in emerging countries around the world is providing income prospects for market players.

Market Segmentation:

The Drive By Wire Market is segmented on the basis of application, vehicle type, and component. Based on application, the market is segmented as throttle by wire, shift by wire, brake by wire, park by wire, and steer by wire. Based on vehicle type, the market is segmented as Passenger cars, Commercial vehicles, Electric vehicles, and Off-highway vehicles. Based on components, the market is segmented as Actuator, Electronic Control Unit (ECU), Engine Control Module (ECM), Electronic Throttle Control Module (ETCM), Electronic Transmission Control Unit (ETCU), Feedback Motor, Parking Pawl, Sensors, and Others.

Based on Application:

The market is divided into the following segments based on application: throttle by wire, shift by wire, brake by wire, park by wire, and steer by wire. Over the projected period, the shift-by-wire segment is expected to dominate the market. It's a system that uses an electronic control device to adjust the gearbox mode. The mechanical linkage between the gearbox and the lever is eliminated with this technique. With the use of a push-button, shift-by-wire allows for seamless gear shifting. Proper gear changing aids in maintaining the vehicle's fuel efficiency.

Based on Component

Actuator, Electronic Control Unit (ECU), Engine Control Module (ECM), Electronic Throttle Control Module (ETCM), Electronic Transmission Control Unit (ETCU), Feedback Motor, Parking Pawl, Sensors, and Others are the different types of components in the market. Over the projected period, the electronic control unit (ECU) segment is expected to dominate the market. Consumers' rising preference for electronic systems over mechanical systems is expected to drive ECU demand over the forecast period. The growing demand for ECU in hybrid and electric vehicles has aided in the company's market supremacy. Multiple electronic control units are used in hybrid vehicles, which help to reduce fuel consumption while still providing a smooth and comfortable ride for passengers.

Europe is Projected to Grow at the Highest CAGR During the Forecast Period

Spain, Germany, the United Kingdom, France, Italy, Belgium, and the Netherlands contribute the most to market shares and are driving market shares over the forecast period. Germany is predicted to have the largest market share and will dominate the automobile industry with the greatest quality production and manufacture. In the automotive sector, the introduction of hybrid electric vehicles sparked a technical revolution. Hybrid electric vehicle demand has been fuelled by factors such as tax incentives and environmental consciousness. To improve the vehicle's economy, key original equipment manufacturers (OEMs) have devised an electrification procedure. When the car is idle or parked, for instance, the engine turns off automatically, and the battery's electricity is used to power the vehicle through the start-stop system. Traditional systems for starting the engine consumed more fuel, however, the use of an electric motor in the start-stop system reduces engine load, improving fuel efficiency.

Competitive Landscape:

The key players in the Global Drive By Wire Market include- Continental AG., Robert Bosch GmbH, ZF Friedrichshafen, Nissan Motor Corporation, DENSO Corporation, NEXTEER AUTOMOTIVE GROUP LIMITED, Kongsberg Automotive, FICOSA Corporation (Panasonic Corporation), Curtiss-Wright Corporation, Hitachi Automotive Systems Ltd. and others.

Segmentation of the Global Drive By Wire Market: