Drive by Wire Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
Drive by Wire Market is anticipated to
gain traction from the emergence of hybrid electric vehicles. Hence, several
original equipment manufacturers (OEMs) are trying to develop novel
electrification processes to improve the vehicle’s efficiency.
Fortune Business Insights™ in a new study, titled, “Drive by Wire Market Size, Share & COVID-19 Impact Analysis, By
Application Type (Throttle by Wire, Steer by Wire, Shift by Wire, Brake by Wire
and Park by Wire), By Component Type (Electronic Control Unit, Actuator,
Electronic Throttle Control Module, Electronic Transmission Control Unit), By
Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts,
2020-2027.” The study further mentions that the market size
was USD 4.99 billion in 2019 and is projected to reach USD
4.27 billion by 2027, exhibiting a CAGR of 5.0% during the forecast
period.
COVID-19 is Severely Affecting
Automotive Industry Worldwide
The automobile industry is severely
affected because of the COVID-19 pandemic. Owing to the complete lockdown
measures, various manufacturers have shut down their facilities. This is
further causing a decline in the production of vehicles. Besides, people are
nowadays focusing more on spending on essential goods rather than purchasing
luxury products. Hence, the demand for drive by wire (DbW) is likely to reduce
in 2020. We are providing extensive analysis of every aspect of the market. Our
analysts have handpicked the best strategies for you to implement for
generating more sales.
Highlights of This Report:
- Extensive analysis of various company profiles.
- Elaborate details about the strategies adopted by key players.
- The estimated, present, and historical sizes of the global market.
- In-depth information about the regions and segments in the market.
Drivers & Restraints
Increasing Demand for Autonomous
Vehicles to Aid Growth
The rising adoption of autonomous
vehicles globally is set to boost the drive-by-wire market growth in the coming
years. These vehicles are driverless, reduce vehicular emissions, and deliver
enhanced passenger safety. They are also equipped with drive by wire systems,
RADAR, cameras, LiDAR, and GPS. These sensors not only help the drivers to
avoid obstacles, but also lower the chance of road accidents. However,
drive-by-wire technology involves high installation, designing, and
manufacturing costs. This factor may hinder growth.
Segment
Shift-by-Wire Segment to Lead Owing to
High Demand for Effortless Shifting of Gears
Based on application type, the
shift-by-wire segment is expected to dominate in the near future by earning the
largest drive by wire market share. This growth is attributable to their
ability to provide an effortless shifting of gears by utilizing a push button.
Regional Analysis
Europe to Dominate: Stringent Emission
Norms by Governments will Accelerate Growth
Regionally, in 2019, Europe procured
USD 2.06 billion in terms of revenue. The region is likely to lead in the
coming years backed by the presence of prominent companies in the region. Also,
the implementation of stringent emission norms by the governments, as well as
the adoption of innovative technologies would propel growth in this region.
Asia Pacific, on the other hand, is
estimated to be the fastest-growing region because of the rising shift of the
consumers towards fuel-efficient vehicles equipped with improved safety
features. The rising investments in research & development activities would
bolster the demand for these systems in North America.
Competitive Landscape
Key Players Focus on Delivering Their
In-house Products to Reputed Organizations
The market for drive-by-wire consists
of multiple companies that are persistently striving to bag new orders for
their in-house products from the other renowned firms. Some of the others are
trying to design supercars in innovative ways.
List of the Leading Companies Profiled
in the Global Drive by Wire Market are:
- Curtiss Wright Corp. (North Carolina, United States)
- TRW Automotive (Michigan, United States)
- Nissan Motor Corporation (Yokohama, Japan)
- Robert Bosch GmbH (Gerlingen, Germany)
- Continental AG (Hanover, Germany)
- P.S.A Citroen (Rueil-Malmaison, France)
- SKF Group (Gothenburg, Sweden)
- Denso Corporation (Aichi, japan)
- ZF Friedrichshafen AG (Friedrichshafen, Germany)
- Peugeot (Paris, France)
Below are two vital industry
developments:
September 2020: The Gen3 supercar will consist of a drive-by-wire
throttle system instead of the conventional cable system. Currently, it is not
being used by any of the teams for this season.
February 2020: Summit Racing is providing drive by wire throttle
bodies to Granatelli Motor Sports. They are specifically designed for surging
airflow across the engine’s revolutions per minute (RPM) range for more
acceleration and horsepower.
Browse Detailed Summary of Research
Report With TOC:
https://www.fortunebusinessinsights.com/drive-by-wire-market-103673
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Drive by Wire Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Market Analysis, Insights and Forecast – By Application Type
- Throttle by Wire
- Steer by Wire
- Shift by Wire
- Brake by Wire
- Park by Wire
- Road Sign Assistance
- Intelligent Headlight
- Others
- Market Analysis, Insights and Forecast – By Component Type
- Electronic Control Unit
- Actuator
- Electronic Throttle Control
- Electronic Transmission Control Unit
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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