The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global drive-by-wire market is set for a significant journey, projecting growth from $22.92 billion in 2022 to $24.22 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 5.7%. Looking ahead, the market is expected to reach $29.65 billion by 2027, sustaining a steady CAGR of 5.2%.

• Electrifying Momentum: Electric Vehicles Fueling the Drive-by-Wire Surge
  • The increasing demand for electric vehicles (EVs) emerges as a driving force behind the growth of the drive-by-wire market.
  • Electric vehicles, propelled by electricity-stored batteries, are steering the automotive industry towards sustainable mobility.
  • Drive-by-wire technology in EVs utilizes electronic systems for braking, steering control, and engine fueling.
  • In 2021, the sale of electric cars doubled to 6.6 million, constituting 9% of the global car market, as reported by the International Energy Agency.

Market Leaders: Giants Shaping the Drive-by-Wire Landscape

Major players in the drive-by-wire market play a pivotal role, influencing the market dynamics and contributing to its growth. Renowned entities include Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissan Motor Co. Ltd., Nexteer Automotive, Kongsberg Automotive Holding ASA, Curtiss-Wright Corporation, Hitachi Astemo Ltd., DENSO Corporation, Ficosa Corporation, TRW Automotive Holdings Corp., Peugeot, SKF Group, TORC Robotics Inc., ME Mobil Elektronik GmbH, and Danaher Motion.

Technological Overdrive: Advancements Steering Market Trends

Technological advancements emerge as a prominent trend in the drive-by-wire market, with major companies leveraging advanced solutions to maintain their market positions.

• Innovative Technological Leap: ZF Friedrichshafen AG
  • In March 2020, ZF Friedrichshafen AG launched front electric park brake technology, revolutionizing braking systems for a wider range of vehicles.
  • The technology eliminates the need for traditional handbrake levers or parking brake pedals, offering auto-hold and stop-and-go functions.
  • Enhanced static load distribution on the front axle contributes to improved parking safety, providing a glimpse into the future of automotive technology.

Market Segmentation: Unraveling Layers of Dynamics

The global drive-by-wire market unfolds its intricacies through comprehensive segmentation, shedding light on various facets of the industry.

1. By Vehicle Type:
   • Passenger Car
   • Commercial Vehicle
   • Electric Vehicle
   • Off-Highway Vehicles
2. By Component:
   • Vehicle Electronic Control Unit
   • Actuator
   • Engine Control Module
   • Electronic Transmission Control Unit
   • Feedback Motor
   • Sensors
   • Other Components
3. By Application Type:
   • Throttle-By-Wire
   • Steer-By-Wire
   • Shift-By-Wire
   • Brake-By-Wire
   • Park-By-Wire

Regional Dynamics: Asia-Pacific Takes the Driver’s Seat

In 2022, Asia-Pacific emerged as the largest region in the drive-by-wire market, showcasing the region’s significant influence in shaping the industry. Furthermore, Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, underlining the dynamic nature of the market.

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The Drive By Wire Global Market Report 2023  provides an overview of the drive by wire market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The drive by wire market forecast analyzes drive by wire market size, drive by wire market share, leading competitor and their market positions.

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