Drive by wire systems replace the conventional mechanical control systems such as brake cables, transmission linkages, clutch and throttle cables with electrical/electronic sensors and actuators. These systems provide advantages such as less maintenance costs, enhanced safety and improved vehicle dynamics control. With growing emphasis on reducing emissions, vehicle electrification is gaining traction globally. This is expected to drive the demand for drive by wire technologies as they allow optimizing performance and efficiency of electrified vehicle transmission and braking systems.
The global Drive by Wire Market is estimated to be valued at US$ 24 Bn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The proliferation of autonomous vehicles presents significant opportunities for drive by wire system suppliers. Autonomous vehicles require redundant and integrated drive by wire systems for proper functioning of automated driving features. Drive by wire replaces cumbersome mechanical linkages with lightweight electronic and electrical interfaces between the driver and the vehicle subsystems enabling more precise control needed for autonomous driving. Leading automakers are investing heavily in developing self-driving cars which is fueling the incorporation of advanced drive by wire technologies. Steering by wire, brake by wire and throttle by wire allow automated coordination of vehicle movements. This trend is estimated to drive exponential growth of the drive by wire market during the forecast period.
Segment Analysis
The global drive by wire market is dominated by the electronic throttle control system sub-segment. Drive by wire technology replaces the traditional mechanical linkage between the accelerator pedal and engine throttle with an electronic system, which controls throttle operation through electronic signals rather than direct physical interaction. This electronically controlled system offers advantages such as enhanced fuel efficiency, reduced emissions, and assisted or autonomous driving capabilities.
Key Takeaways
The Global Drive By Wire Market Size is expected to witness high growth over the forecast period, driven by the rising demand for fuel-efficient and emission-reducing vehicles. Regional analysis
The Asia Pacific drive by wire market is projected to grow at the fastest rate during the forecast period. Countries such as China, India, and Japan are witnessing significant growth in vehicle production and sales. Growing stringency in emission regulations and rising demand for advanced automotive technologies in the region are fueling the adoption of drive by wire systems in Asia Pacific.
Key players operating in the drive by wire market are Patreon, OnlyFans, Teachable, Thinkific, Facebook, Twitter, Snapchat, Pinterest, LinkedIn, DeviantArt, Twitch, YouTube, TikTok, Instagram, Etsy, Spotify, Substack, Buy Me a Coffee, Ko-fi, and Gumroad.
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The global Drive-By-Wire market was valued at 1678.05 Million USD in 2020 and will grow with a CAGR of 4.98% from 2020 to 2027, based on Our Researcher newly published report.The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches.
Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).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.
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 advanced technologies and rapid innovations enables 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.
