The Drive by Wire Market was valued at USD 23.1 billion in 2020 and is projected to grow at a CAGR of 5.2 % during the forecast period and reach USD 32.2 billion by 2027. Drive-by-wire refers to an automotive technology that replaces the conventional mechanical systems of a vehicle, such as throttle control, braking, steering and gear shifting by the on-highway vehicle of electronic systems.
The use of drive-by-wire technology in passenger cars also facilitates improvements in the fault diagnosis and monitoring, thereby reducing the cost of maintenance of the vehicle. The system comprises electromagnetic actuators, which helps modulate the amount of fuel to be supplied to the cylinder. The use of these systems also enhances the safety of the vehicle by providing computer-controlled systems, such as lane assist systems and electronic stability control.
Rise in the advanced technologies and innovations in the automotive technology enables create lucrative opportunities for the companies which are plunged in the automotive industry. Drive-by-Wire technology is an advanced vehicle control methodology, it is incorporation of mechanical linkages within vehicle. The technology replaces traditional mechanical control systems with electrical control systems using the electromechanical actuators and human machine interfaces steering and pedal. The components such as steering columns, pumps, shafts, belts, master cylinders, vacuum servos are eliminated from the vehicle.
The safety can be enhanced by providing the computer-controlled systems such as adaptive cruise control, electronic stability control, and lane assist systems. Increased capability due to fault diagnosis and monitoring. Purely electromechanical devices enable elimination of environmental hazardous hydraulic fluids. It enables reduce maintenance cost. Reduction in mechanical complexity. Ergonomics can be improved by the range of force and movement required by the driver.
Drive-by-Wire system massively entered in to automotive market. The system contains electromagnetic actuators which enables modulate the quantity of fuel to be introduced into the cylinder. The advanced technologies and rapid innovations enable create opportunities for the companies. The global Drive-by-Wire market anticipated to exhibit a significant CAGR as well as annual growth rate over the forecast period.
The Drive-by-Wire market can be driven by the following factors, increase in the technological advancements and innovations in drive-by-market enables increase the adoption of people towards drive-by-wire market. Drive-by-wire technology replaces mechanical linkages with electrical components actuators, sensors, batteries which enables reduce weight and increase fuel economy. The electronic control systems such as sensors, actuators offer accurate and precise results. The advanced features and engine ergonomics enables drive the global drive-by-wire market. However, Drive-by-Wire is costlier than the conventional devices, which may hamper the global Drive-by-Wire market.
Some of the key players in the global drive-by-wire market are 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.
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 the vehicle performance and comfort, and this is further driving the drive by wire market in these regions.
Report : Drive By Wire Market - By Sensor (Throttle Pedal Sensor, Throttle Position Sensor, Brake Pedal Sensor, Park Sensor And Others), By On-Highway Vehicle (Passenger Cars, Light Commercial Vehicles, Buses, Trucks), By Off-Highway Vehicle (Construction & Mining Equipment, Agriculture Tractors, Forklifts), And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027