The global drive-by-wire market is projected to surpass US$ 63.75 Bn by 2031, expanding at a CAGR of 9.62% during the forecast period. Rise in expansion of electric and autonomous vehicle sector across the globe is likely to propel the drive-by-wire market, as the logistics sector needs a large number of commercial trucks to carry goods from one place to another.
Drive-by-wire is an emerging technology in the automobile sector, which has replaced the mechanical system such as master cylinders, intermediate shaft, steering columns, and pumps. Drive-by-wire systems are gaining popularity, as the demand for off-road vehicles increases. Forklifts, harvesters, tractors, construction and mining equipment, industrial electric vehicles, mowers, utility vehicles, and other off-road vehicles are all using drive-by-wire or x-by-wire technology. In these vehicles, brake-by-wire and steer-by-wire technologies are often employed for parking.
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Market Players
Prominent players operating in the global drive-by-wire market include Robert Bosch GmbH, SKF Group, Delphi Automotive PLC, Mobil Elektronik GmbH, Denso Corporation, Hitachi Automotive Systems, Ltd., ZF Friedrichshafen AG, Continental Group, Curtiss-Wright Corporation, and Infineon Group.
Regional Analysis
In terms of region, the global drive-by-wire market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The increased demand for commercial cars in Asia Pacific is also a major driver of the global drive-by-wire market. Europe trails Asia Pacific in terms of share of the global drive-by-wire market. Germany, Spain, the U.K., Sweden, Italy, Belgium, France, and the Netherlands are driving the market in the region. Germany, with its prominent automobile industry, is a vital market in Europe.
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Segmentation
- Drive-by-wire Market, by ApplicationElectronic Throttle Control
- Brake-by-Wire
- Steer-by-Wire
- Shift-by-Wire
- Drive-by-wire Market, by Vehicle TypePassenger carsHatchback
- Sedan
- Utility Vehicles
- Commercial vehicle
- Drive-by-wire Market, by RegionNorth America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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