Europe Poised to Lead the Global Drive-by-wire Market; Set to Capture a CAGR of 9% Over the Forecast Period (2017-2023)

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Drive-by-wire Market Research Report.

The drive-by-wheel technology has brought about significant advances in the automotive industry. Drive-by-wire technology refers to the incorporation of electrical devices that replace mechanical controls like hydraulic pressure, cables, and other things. The technology is most commonly found in tractors and forklifts even though its application has been found in concept cars. The global drive-by-wire market is foreseen to expand with a CAGR of 9% over the forecast period 2017-2023; reveals a recent study by Market Research Future (MRFR). Drive-by-wire technology improves safety by facilitating more automated control, enhances the flexibility of automotive systems, simplifies car's interior designs, and eliminates the problems of mechanical systems. Shift in the automotive industry from mechanical systems to electrically controlled systems has provided opportunities for growth of drive-by-wire technology. The emergence of autonomous vehicles has provided an impetus to the growth of the drive-by-wire market. Drive-by-wire technology finds intensive application in autonomous vehicles and adoption of autonomous cars boosts the market for drive-by-wire technology. Additionally, the drive-by-wire technology uses purely electromechanical systems which improves fuel economy and eliminates the emission of hazardous hydraulic fluids. Growing demand for environment-friendly vehicles and increasing regulatory measures for curbing environmental emissions has resulted in heightening the demand for drive-by-wire technology. Increased adoption in high-end cars, investment by manufacturers in the R&D of the technology, growth in demand for off-road vehicles further propel the growth of the market. Various application of drive-by-wire in industrial electric vehicles, harvesters, mowers, utility vehicles, tractors, construction and mining equipment, forklifts, mowers, utility vehicles, and other off-road vehicles also aids in market expansion. Restraining factors include complexity and higher price than mechanical controls. Moreover, the drive-by-wire technology uses software that might malfunction and fail regardless of several safety measures; safety concerns are likely to hamper the market growth. The drive-by-wire system is complex and has a low adoption rate among consumers.

Segmentation

The global drive-by-wire market has been segmented based on application and vehicle type. By application, the market has been segmented into throttle by wire, shift-by-wire, steer-by-wire, brake-by-wire, and others. By vehicle type, the market has been segmented into passenger cars and commercial vehicles. Amongst the application segment, the steer-by-wire sub-segment is expected to exhibit the highest CAGR over the forecast period. For instance, Nissan Infiniti uses the steer-by-wire technology in its vehicles. It is the first mass-produced road vehicles to use such an electronic control system. Nissan has provided a backup clutch system which might be used in the event of a problem, but the company is hopeful that eventually the backup system would not be required and the steer-by-wheel technology will facilitate operation from the back seat or even with the help of a joystick. Among the vehicle type segment, the commercial vehicle sub-segment is expected to witness significant growth over the forecast period.

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Regional Analysis

Regionally, the global drive-by-wire market has been segmented into the four major regions of North America, Europe, Asia-Pacific and Rest of the World. Europe is anticipated to dominate the market owing presence of significant car manufacturing countries such as Germany, Sweden, U.K., Italy, Belgium, Spain, Netherlands, and France. Germany is the major contributor of the Europe market owing to the presence of a large number of automotive companies in the region. The Asia-Pacific market is slated to exhibit steady growth due to rapidly growing car market, and adoption of automotive electronics in the region.

Competitive Landscape

The global drive-by-wire market is highly competitive. The market players are leveraging various strategies such as acquisitions, partnerships, and investments to stay ahead of the competition in the global drive-by-wire market. The market participants are trying to come up with advancements in the drive-by-wire technology systems. The key players dominating the industry include Robert Bosch GmbH (Germany),Curtiss Wright Corp. (U.S.),Nissan Motor Corporation (Japan), SKF Group (Sweden), Hitachi Automotive Systems, Ltd. (Japan), Denso Corporation (Japan),Continental AG (Germany), TRW Automotive (U.S.), P.S.A Citroen (France), Mobil Elektronik GmbH (Germany), ZF Friedrichshafen AG (Germany), and Infineon Group (Germany) are among others.  

Industry Trends/Updates

Textron Off-Road innovated its first off-road vehicle lineup using drive-by-wire throttle technology which is programmed to maintain smooth power delivery even when riding over rough terrain.