The Drive By Wire Market was valued at USD 17.49 billion in 2017 and is projected to grow at a CAGR of 8.86% during the forecast period and reach USD 34.63 billion by 2025. Nowadays, the automotive industry is more inclined to use advanced technologies to increase fuel efficiency, reduce emission levels, and enhance the driving dynamics of the vehicle.
Some of the key manufacturers and suppliers of this market are Bosch (Germany), Continental (Germany), ZF (Germany), Infineon (Germany), Nexteer (US), CTS (US), Ficosa (Spain), Kongsberg (Switzerland), Hitachi Automotive (Japan), and Curtiss-Wright (US).
Opportunities:
1 Advancement In Autonomous Vehicles
1.1 Development In Autonomous Off-Highway Equipment
1.2 Increase In Demand For Autonomous Cars
1.3 Latent Demand For Semi-Autonomous And Autonomous Trucks
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The drive by wire market has been segmented on the basis of application, sensor type, component, on-highway vehicle, off-highway vehicle, electric & hybrid vehicle, autonomous vehicle, and region.
On the basis of the on-highway vehicle type, the passenger car market is the largest in terms of volume and value. This is attributed to the increasing demand for passenger cars with advanced systems in developed and developing countries. The passenger car segment is witnessing the highest sales of premium and luxury vehicles equipped with a drive by wire systems offering high performance along with safety and comfort features.
Brake pedal sensor is estimated to be the fastest-growing market for drive by wire market, by sensor type, during the forecast period. This sensor is placed in the brake-by-wire system that offers vehicle safety compensation for driver errors or delayed reaction times. Hence, with the increasing demand for drive by wire, the market for brake pedal sensors is expected to increase. The electronic control unit (ECU) is estimated to be the largest market for drive by wire, by component, owing to its usage in every drive by wire application and its higher cost compared to other components makes it the highest market.
In the off-highway vehicle segment, agriculture tractors are the fastest-growing as incorporating an electronic system would eliminate many mechanical parts, thereby reducing the overall weight of the tractor and automatically increasing fuel efficiency. Also, this system offers better comfort, safety, and performance in these vehicles. Additionally, the increasing trend toward autonomous off-highway vehicles such as autonomous tractors and mining equipment has led to the tremendous growth of drive by wire systems in these vehicles.
The growing demand for autonomous vehicles would also fuel the demand for drive by wire systems as vehicles will be fully equipped with a drive by wire systems because of the fact that these vehicles use electrical and electronic intelligence while driving. In the electric & hybrid vehicle segment, HEVs have the largest market share in terms of value. HEVs are premium vehicles in terms of their price range and features offered, and thus the high cost can be compensated by offering drive by wire systems in these vehicles.
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The Asia Pacific is estimated to be the largest market for On-highway vehicles during the forecast period owing to the increase in the consumer purchasing power and their preference for better safety measures and the need for higher fuel efficiency of the vehicle. Also, as the Asian countries plan to standardize emission norms and use an increasing number of electric vehicles in the future, drive by wire systems are likely to get traction. North America and Europe are also known for having the largest market owing to the reason such as it has the largest market for passenger cars, particularly for premium cars (C segment and above). The demand for premium cars has accentuated the need for less emission and lower vehicle weight, which can be achieved with the help of drive by wire systems. With the increase in the sale of premium cars, the demand for efficient drive by wire systems is increasing so as to improve vehicle performance and comfort, and this is further driving the drive by wire market in these regions.
Target Audience: