Global Automotive Drive-by-Wire Market Size To Exceed USD 36.4 Billion By 2032 | CAGR of 6.8%
The Global Automotive Drive-by-Wire Market Size was valued at USD 18.7 Billion in 2022 and the Worldwide Automotive Drive-by-Wire Market Size is expected to reach USD 36.4 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: CTS Corporation, Ficosa Internacional SA, Kongsberg Automotive, Hitachi, Ltd., Denso Corporation, Peugeot, P.S.A Citroen, Robert Bosch GmbH, Continental AG, Nexteer Automotive, Infineon Technologies AG, Curtiss-Wright Corporation, ZF Friedrichshafen AG, TRW Automotive and other key vendors.
New York, United States, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The Global Automotive Drive-by-Wire Market Size is to grow from USD 18.7 Billion in 2022 to USD 36.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.8% during the projected period. The rising adoption of DBW in various applications such as throttle-by-wire, shift-by-wire, steer-by-wire, park-by-wire, and brake-by-wire in several vehicle types including electric & hybrid, on-highway, and off-highway is expected to boost the demand for the automotive drive-by-wire market during the forecast period.
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Drive-by-wire technology, often known as "x-by-wire" or "by wire," refers to the use of electrical or electro-mechanical technologies to perform vehicle activities that were formerly performed via mechanical linkages. The growing popularity of this technology can be attributed to its multiple benefits, including improved vehicular fuel economy, tranquillity, and efficiency, as well as its vital role in the development of completely autonomous vehicles. Drive-by-wire technology is widely utilized in self-driving cars to operate many vehicle systems. The drive-by-wire industry is predicted to grow as autonomous vehicle engineering advances and becomes more widely available. Furthermore, as the electric vehicle (EV) market grows, so does the drive-by-wire business. Drive-by-wire systems are frequently utilized in EVs because they are more compatible with EV electrical controls than traditional mechanical control systems. Furthermore, the introduction of hybrid electric vehicles triggered a technological revolution in the automobile industry. Tax subsidies and growing environmental concerns have also contributed to the EV industry's demand for hybrid electric vehicles.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Automotive Drive-by-Wire Market Size, Share, and COVID-19 Impact Analysis, By Component (Actuator, ECU, ECM, ETCM, ETCU, Feedback Motor, Others), By Application (Throttle-by- Wire, Shift-by- Wire, Steer-by- Wire, Park-by- Wire, and Brake-by- Wire), By Vehicle Type (Electric & Hybrid, On-Highway, Off-Highway), By Sensor Type, and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The actuator segment is dominating the market with the largest revenue share over the forecast period.
On the basis of components, the global automotive drive-by-wire market is segmented into actuators, ECU, ECM, ETCM, ETCU, feedback motors, and others. Among these, the actuator segment is dominating the market with the largest revenue share of 43.6% over the forecast period. An actuator is a mechanism in a system that converts signals and electrical energy into motion. It can travel in either a linear or circular pattern.
The throttle-by-wire segment is witnessing significant CAGR growth over the forecast period.
On the basis of Application, the global automotive drive-by-wire market is segmented into throttle-by-wire, shift-by-wire, steer-by-wire, park-by-wire, and brake-by-wire. Among these, the throttle-by-wire segment is witnessing significant CAGR growth over the forecast period. Throttle-by-wire technology is most prevalent in the passenger and commercial vehicle classes. Because they can be easily coupled with other electrical subsystems, throttle-by-wire systems are straightforward to implement.
The electric & hybrid segment accounted for the largest revenue share of more than 41.8% over the forecast period.
On the basis of vehicle type, the global automotive drive-by-wire market is segmented into electric & hybrid, on-highway, and off-highway. Among these, the electric & hybrid segment is dominating the market with the largest revenue share of 41.8% over the forecast period. Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), and Fuel Cell Electric Vehicles (FCEV) are the three types of electric and hybrid vehicles. The BEV sub-segment is likely to have the majority of the market. The primary drivers of rising demand include the rapid adoption of BEV models into new categories in the majority of regions, ongoing purchasing incentives, and stringent pollution regulations.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This can be attributed to greater participation by significant market participants around the region. In the region, there is a growing demand for automobiles that are feature-rich, efficient, and extremely safe. Additionally, premium and luxury vehicles are in high demand in this market. On the other hand, North America is predicted to expand the fastest during the forecast period. The rise of electric vehicle manufacturing and rising demand for self-driving cars in the region has aided the growth of the drive-by-wire business.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Automotive Drive-by-Wire Market include CTS Corporation, Ficosa Internacional SA, Kongsberg Automotive, Hitachi, Ltd., Denso Corporation, Peugeot, P.S.A Citroen, Robert Bosch GmbH, Continental AG, Nexteer Automotive, Infineon Technologies AG, Curtiss-Wright Corporation, ZF Friedrichshafen AG, TRW Automotive, and several others.
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Key Market Developments
On June 2023, Bosch and Arnold NextG are preparing for commercial steer-by-wire production. Start-up in Germany Arnold NextG specializes in the creation of tiny and extremely small batch sizes of multi-redundant drive-by-wire systems with all interfaces for autonomous driving. The two firms have formed an association to merge their development knowledge and speed up the process of preparing solutions for the market.
On May 2022, CNXMotion, a Nexteer Automotive and Continental Automotive joint venture, has announced the inclusion of two new software features to its Brake-to-Steer (BtS) technology. These functions provide backup safety layers for all EPS and Steer-by-Wire (SbW) system variations, as well as for all SAE degrees of driving automation (levels 1 - 5).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Automotive Drive-by-Wire Market based on the below-mentioned segments:
Automotive Drive-by-Wire Market, Component Analysis
Actuator
Electronic Control Unit (ECU)
Engine Control Module (ECM)
Electronic Throttle Control Module (ETCM)
Electronic Transmission Control Unit (ETCU)
Feedback Motor
Others
Automotive Drive-by-Wire Market, Sensor Type Analysis
Throttle pedal Sensor
Throttle Position Sensor
Pinion Angle Sensor
Hand Wheel angle Sensor
Gear Shift Position Sensor
Park Sensor
Brake Pedal Sensor
Automotive Drive-by-Wire Market, Application Analysis
Throttle-by-Wire
Shift-by-Wire
Steer-by-Wire
Park-by-Wire
Brake-by-Wire
Automotive Drive-by-Wire Market, Vehicle Type Analysis
Electric & Hybrid
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Fuel Cell Electric Vehicle (FCEV)
On-Highway
PC
LCV
Trucks
Buses
Off-Highway
Agricultural Tractors
Construction & Mining Equipment
Forklift
Automotive Drive-by-Wire Market, Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of Middle East & Africa
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