Global Drive By Wire Market analyzed by Application (Throttle by wire, Brake by wire, Shift by wire, Steer by wire, others), by Vehicle type (Passenger cars, Commercial Vehicles), and regional forecast 2019 to 2023.
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Drive By Wire Global Market Overview:
The global drive-by-wire market is foreseen to expand with a CAGR of 9% over the forecast period 2017-2023; reveals a recent study by Market Research Future (MRFR). Drive by wire technology in the automotive industry is the use of electrical or electro-mechanical systems for performing vehicle functions traditionally achieved by mechanical linkages. Shift in the automotive industry from mechanical systems to electrically controlled systems have provided opportunities for growth of drive-by-wire technology. The emergence of autonomous vehicles has provided an impetus to the growth of the drive-by-wire market. Drive-by-wire technology finds intensive application in autonomous vehicles and adoption of autonomous cars boosts the market for drive-by-wire technology.
Drive-by-wire technology improves safety by facilitating more automated control, enhances the flexibility of automotive systems, simplifies car’s interior designs, and eliminates the problems of mechanical systems. Additionally, the drive-by-wire technology uses purely electromechanical systems which improves fuel economy and eliminates the emission of hazardous hydraulic fluids. Growing demand for environment-friendly vehicles and increasing regulatory measures for curbing environmental emissions has resulted in heightening the demand for drive-by-wire technology. Increased adoption in high-end cars, investment by manufacturers in the R&D of the technology, growth in demand for off-road vehicles further propel the growth of the market. Various application of drive-by-wire in industrial electric vehicles, harvesters, mowers, utility vehicles, tractors, construction and mining equipment, forklifts, mowers, utility vehicles, and other off-road vehicles also aids in market expansion. Restraining factors include complexity and higher price than mechanical controls. Moreover, the drive-by-wire technology uses software that might malfunction and fail regardless of several safety measures; safety concerns are likely to hamper the market growth. The drive-by-wire system is complex and has a low adoption rate among consumers.
Regionally, the global drive-by-wire market has been segmented into the four major regions of North America, Europe, Asia-Pacific and Rest of the World. Europe is anticipated to dominate the market owing presence of significant car manufacturing countries such as Germany, Sweden, U.K., Italy, Belgium, Spain, Netherlands, and France. Germany is the major contributor of the Europe market owing to the presence of many automotive companies in the region. The Asia-Pacific market is slated to exhibit steady growth due to rapidly growing car market, and adoption of automotive electronics in the region.
Drive By Wire Market Segmentation:
By application, the Drive By Wire Market has been segmented as throttle by wire, brake by wire, shift by wire, steer by wire and others. Amongst these, the steer-by-wire is expected to have the highest CAGR over the forecast period. This system is comprised of embedded software, integrated electronic control unit and control area network bus interface, which reduces the need for maintenance services during the life of the drive-by-wire system. This system also consists of electronic encoders that have sensors for tracking the steering wheel movement.
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