Drive By Wire Market

Market Leader - Drive By Wire Market

The drive by wire market is projected to reach USD 31.9 billion by 2025 from an estimated USD 24.0 billion in 2020 at a CAGR of 5.9% during the forecast period. The base year for the report is 2019, and the forecast period is from 2020 to 2025.

The primary reason for the growth of this market is the increasing demand of premium IC E vehicles with enhanced fuel economy and comfort in countries such as China, Germany. Also, the implementation of stringent emission norms such as Euro VI, BS VI is expected to drive adoption of throttle-by-wire, brake-by-wire. Not only ICE vehicles, but increasing sales of electric vehicles is expected to significantly boost drive by wire as EVs have higher penetration of drive by wire than ICE vehicles. Also, continuous R&D  in development of autonomous vehicles and its expected launch 2023 is going to drive the drive by wire market.

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The drive by wire market is dominated by globally established players such as Bosch (Germany), Continental (Germany), ZF(Germany), Infineon Technologies (Germany), Nexteer Automotive  (US). These companies adhere to strategies such as new product developments and strategic expansions through collaborations, partnerships, and mergers & acquisitions to gain traction in the growing demand for drive by wire  globally.

Bosch is one of the key players in the drive by wire market, owing to its  diversified product portfolio across various automotive drive by wire segments. A balanced product portfolio not only secures the company against unfavorable forces in a specific market by dispersing its business risks but also enables it to benefit from opportunities available across industries. Also, the company’s increased focus on R&D allows it to introduce various advanced drive by wire technologies. The company invested USD 6.8 billion in 2019 in R&D activities. The company focuses on both organic and inorganic developments. The company’s demonstration with Ford for automatic driving and parking in the US is expected to popularize its advanced electronics portfolio in the automotive industry, setting up a benchmark. Also, its continuous developments in sensor technology are expected to help it retain its position among its competitors.

Continental is another key player in the drive by wire market. The company has a strong geographic presence across the globe. This helps it cater to the specific regional needs of its customers, thereby helping to tap the growing drive by wire market. Also, its diversified product portfolio for passenger cars may help it tap the growing vehicle electrification trend. The company’s new product developments and expansions (organic developments) are expected to further strengthen its competitiveness. The company’s increased focus on R&D also gives it an added advantage over its competitors. R&D expenses in the chassis & safety division rose by 2.5% in 2019, amounting to USD 1.2 billion. Continental focuses on organic developments-new product developments and expansions. The company’s supply order contract with Volvo to provide brake by wire components is expected to allow the company to effect various new product developments. Also, the company’s strategy to expand its business in various regions is expected to help it tap the growing demand.

Related Reports:

Drive By Wire Market by Application(Brake, Park, Shift, Steer, Throttle), Sensor (Brake Pedal, Throttle Position & Pedal, Park, Gearshift, Handwheel, Pinion),Vehicle (On & Off-Highway, BEV,PHEV,FCEV, Autonomous),Component & Region - Global Forecast to 2025

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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Northbrook, IL 60062
USA : 1-888-600-6441
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Report Code
AT 6667
RI Published ON
12/2/2020
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