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The global drive by wire market is projected to grow at 6.1% CAGR during 2021-2027 owing to the rising number of regulations by the government to control vehicle emissions, rising demand for passenger comfort, and increasing fuel-efficiency of the vehicle by reducing the weight will propel the growth of the drive by wire market.
The expansion of the drive by wire market will be accelerated by the increased deployment of autonomous vehicles and the development of connected infrastructure.
COVID-19 Analysis
The COVID-19 outbreak has had an adverse impact on a drive by wire market owing to lockdown in various countries that has led to a massive reduction in the manufacturing of automobiles, resulting in a drop in the sales of drive by wire controls in the vehicles.
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Market Segmentation
Based on application, the steer-by-wire category is predicted to have the highest CAGR over the forecast period. This is due to the fact that this system, which is made up of an integrated electronic control unit, embedded software, and a control area network bus interface, requires less maintenance.
Based on component, the actuator contributes to the largest share in the drive-by-wire market. One or more actuators are used in every drive by wire application. As electric actuators may be controlled precisely with the brake system ECU, electrically actuated brakes are compatible with technologies like an anti-lock braking system (ABS) and stability control.
Geographical Analysis
Asia-Pacific is expected to be the fastest-growing region in the drive by wire market owing to cost advantages for OEMs as the labor and raw material in the region is cheap, shift in consumer preferences towards improved safety and fuel-efficient vehicles, stringent emission norms, and increasing disposable income of the middle-class population.
Recent News
In November 2021, Continental, a technology company, has further enhanced its MK C1 electro-hydraulic brake system, which was the first of its kind. While the MK C2 has higher availability and performance, it is also smaller and lighter, making it easier to integrate into smaller car models and full vehicle platforms with a variety of engine designs and installation locations. The MK C2 is a “brake-by-wire” system, like the MK C1, where the brake pedal is separated from the actual pressure generation.
Major Players
The prominent players in the drive by wire industry include Continental AG, Infineon Technologies AG, Hitachi, Ltd., Robert Bosch GmbH, Ficosa Internacional SAA, KONGSBERG, ZF Friedrichshafen AG, DENSO CORPORATION, NEXTEER AUTOMOTIVE GROUP LIMITED, and Curtiss-Wright Corporation.
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