Drive by Wire Market Size, 2020 Industry Share and Global Demand | 2026 Forecast by Fortune Business Insights™
Drive by Wire Market is anticipated togain traction from the emergence of hybrid electric vehicles. Hence, severaloriginal equipment manufacturers (OEMs) are trying to develop novelelectrification 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, ByApplication Type (Throttle by Wire, Steer by Wire, Shift by Wire, Brake by Wireand Park by Wire), By Component Type (Electronic Control Unit, Actuator,Electronic Throttle Control Module, Electronic Transmission Control Unit), ByVehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts,2020-2027.” The study further mentions that the market sizewas USD 4.99 billion in 2019 and is projected to reach USD4.27 billion by 2027, exhibiting a CAGR of 5.0% during the forecastperiod.
COVID-19 is Severely AffectingAutomotive Industry Worldwide
The automobile industry is severelyaffected because of the COVID-19 pandemic. Owing to the complete lockdownmeasures, various manufacturers have shut down their facilities. This isfurther causing a decline in the production of vehicles. Besides, people arenowadays focusing more on spending on essential goods rather than purchasingluxury products. Hence, the demand for drive by wire (DbW) is likely to reducein 2020. We are providing extensive analysis of every aspect of the market. Ouranalysts have handpicked the best strategies for you to implement forgenerating 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 AutonomousVehicles to Aid Growth
The rising adoption of autonomousvehicles globally is set to boost the drive-by-wire market growth in the comingyears. These vehicles are driverless, reduce vehicular emissions, and deliverenhanced passenger safety. They are also equipped with drive by wire systems,RADAR, cameras, LiDAR, and GPS. These sensors not only help the drivers toavoid obstacles, but also lower the chance of road accidents. However,drive-by-wire technology involves high installation, designing, andmanufacturing costs. This factor may hinder growth.
Segment
Shift-by-Wire Segment to Lead Owing toHigh Demand for Effortless Shifting of Gears
Based on application type, theshift-by-wire segment is expected to dominate in the near future by earning thelargest drive by wire market share. This growth is attributable to theirability to provide an effortless shifting of gears by utilizing a push button.
Regional Analysis
Europe to Dominate: Stringent EmissionNorms by Governments will Accelerate Growth
Regionally, in 2019, Europe procuredUSD 2.06 billion in terms of revenue. The region is likely to lead in thecoming years backed by the presence of prominent companies in the region. Also,the implementation of stringent emission norms by the governments, as well asthe adoption of innovative technologies would propel growth in this region.
Asia Pacific, on the other hand, isestimated to be the fastest-growing region because of the rising shift of theconsumers towards fuel-efficient vehicles equipped with improved safetyfeatures. The rising investments in research & development activities wouldbolster the demand for these systems in North America.
Competitive Landscape
Key Players Focus on Delivering TheirIn-house Products to Reputed Organizations
The market for drive-by-wire consistsof multiple companies that are persistently striving to bag new orders fortheir in-house products from the other renowned firms. Some of the others aretrying to design supercars in innovative ways.
List of the Leading Companies Profiledin 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 industrydevelopments:
September 2020: The Gen3 supercar will consist of a drive-by-wirethrottle system instead of the conventional cable system. Currently, it is notbeing used by any of the teams for this season.
February 2020: Summit Racing is providing drive by wire throttlebodies to Granatelli Motor Sports. They are specifically designed for surgingairflow across the engine’s revolutions per minute (RPM) range for moreacceleration and horsepower.
Browse Detailed Summary of ResearchReport 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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