The automotive drive-by-wire market is projected to reach USD 27.9 billion by 2027 from an estimated USD 20.6 billion in 2022 at a CAGR of 6.2% during the forecast period, driven by developments in EV and autonomous vehicles. Stringent safety standards and demand for enhanced fuel-efficient vehicles with reduced vehicle weight are boosting the growth of the drive by wire market.
The automotive drive by wire market is expected to witness significant growth due to growing premium vehicle demand and sales, an increase in demand for SUVs, and continuous developments in autonomous and semi-autonomous vehicles. Also, emerging technologies and developments in electric vehicles aimed at enhancing efficiency, comfort, and safety are expected to boost the demand for the automotive drive by wire market.
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The drive by wire market is majorly driven by some of the omajor key players such as Bosch (Germany), Continental (Germany), ZF(Germany), Infineon Technologies (Germany), Nexteer Automotive (US). These companies strtageize their focus on new product developments and strategic expansions. These strategic initiatives include joint venture, collaborations, partnerships, and mergers & acquisitions which helps them to increase their market presence in global drive by wire market.
Bosch is one of the major players in the drive by wire market. Bosch has been continuously focusing on developing and commercializing as many possible technologies in drive by wire systems. Bosch is one of the major companies that file for patents in large numbers. It has a total of 247,910 patents under its belt. Also, the company’s increased focus on R&D allows it to introduce various advanced drive by wire technologies. The company invested USD 6.11 billion in 2021 in R&D activities. The company, apart from investing generously in Research and Development, is constantly investing in forming new partnerships and strategic ventures, which multiplies its ability to innovate faster and bring new technologies into the market faster than its competitors.
Continental is also one of the major players in the drive by wire market. It has developed several technologies in the field of drive by wire systems, vehicle safety, tires, EV batteries, and safety. The company’s increased focus on R&D also gives it an added advantage over its competitors. The company invests about 7.7% of its annual budget in R&D, which amounts close to USD 3 Billion. The company is focusing on partnerships that help them scale its business more rapidly, as well as developing additional areas of expertise. Recently in 2020, Continental and Nexteer Joint Venture CNXMotion Develops Brake-to-Steer Technology. In vehicles where there is high degree of automation and having high degree of dependence on electronics and has steer by wire system , steering systems feature multiple protective layers to ensure the steering safety net is always on. In a fully autonomous vehicle with no steering wheel present, BtS system will try to frame its most safe path using its algorithms and electronic systems. Also in September 2022, Continental’s MK C2 brake-by-wire system, which was joint developed by BMW and Continental won the coveted PACE Award. The MK C2 brake system enhances the overall performance of a vehicle by making it more efficient, safer, and scalable. MK C2 saw initialization of batch production for the German premium manufacturer BMW Group in July 2022. The MK C2 is used across all BMW vehicle, irrespective of powertrain technology.
Drive by Wire Market by Application (Brake, Park, Shift, Steer, Throttle), Sensor (Brake Pedal, Throttle Position, Park, Gearshift, Handwheel, Pinion), Vehicle (On & Off-Highway, BEV, PHEV, FCEV, Autonomous), Component & Region - Global Forecast to 2027
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