July 20, 2024

Drive by Wire Market to Witness Significant Growth by 2030

[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global drive by wire market was valued at around USD 1.72 billion in 2021 and is expected to register revenues worth USD 3.71 billion by the end of 2030, growing at an exceptional CAGR of approximately 8.9% between 2022 and 2030.

Drive by Wire

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Drive by Wire Market Growth Factors:

Implementation of stringent vehicle emission regulations by government authorities, increasing demand for comfort of automobile owners, advantages such as reduction in vehicle weight and higher fuel efficiency, reduced tail-pipe emission, and technological advancements are among major factors boosting growth of the global industry.

Additionally, increasing popularity and adoption of autonomous vehicles is fueling growth of the drive-by-wire market worldwide. Moreover, rapidly increasing awareness regarding fuel conservation is having positive impact on the growth of global industry. Further, increased focus on the improvements in automobile functioning in developing regions and growing investment by major market players on research and development are other factors to boost growth of the global market during the forecast time frame.

Drive by Wire Market Report Scope

Report HighlightsDetails
Market SizeUSD 3.71 Billion by 2030
Growth RateCAGR of 8.9% from 2022 to 2030
Base Year2021
Historic Data2017 to 2021
Forecast Period2022 to 2030
Segments CoveredComponents, Solution
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

All major vehicle manufacturers and numeroustier-1 suppliers are making considerable investments in autonomous and connected automobile technology which has led to in increased requirement for the independent vehicles in the forthcoming period. The worldwide demand for autonomous automobile is anticipated to surpass 4 million units by the year 2030.

The automotive division faces an extraordinary change with respect to the extensive effects it will bear on the business and its users. This increasing mandate for independent vehicles is also expected to fuel the requirement for the drive-by-wire systems as automobiles will be completely equipped with drive-by-wire arrangement owing to the fact that such automobiles use electronic and electrical intelligence while driving.

Drive by Wire Market Report Highlights
  • Based on solution, shift-by-wire reported largest revenue in 2020. This is accredited to features such as effortless gear shift just by a push of a button. Further, advantages such as lower fuel consumption are expected to boost the growth of the segment in the near future.
  • On the basis of component, electronic transmission control unit accounted for the weighty share in the target industry. This is due to increasing demand for electronic transmission control unit in electric and hybrid vehicles.
  • Robert Bosch GmbH and Danaher Motion are major companies operating in the global drive-by-wire market.

Regional Analysis:

The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 45%. U.S. represented highest share in the North America region primarily due to well-developed automobile industry, presence of skilled professionals, and availability of latest automobile products. Moreover, growing awareness regarding fuel conservation is expected to have positive impact on the industry growth.

Europe is expected to account for the second largest share in the drive-by-wire industry in terms of revenue in 2020. The growth in the European region is attributed to availability of latest automobile infrastructure, presence of leading market players, and increasing adoption of autonomous vehicles. Asia Pacific is anticipated to grow at the highest CAGR during the projected time-duration majorly due to implementation of stringent emission norms. Growth in the research and development activities is a major factor that is projected to have optimistic impact on the growth of the target industry in the Asia Pacific region.

Competition Landscape

The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter. This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach.

This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.

Read Also@ Advanced Battery Market Size to Worth Around US$ 168.13 Bn by 2030

some of the prominent players in the drive by wire market include:

  • TORC Robotics Inc.
  • Mobil Elektronik GmbH
  • Danaher Motion
  • Robert Bosch GmbH
  • SKF Group
  • Audi
  • RLP Engineering
  • Peugeotm
  • Nissan
  • TRW

Drive by Wire Market Segments

By Component

  • Vehicle Electronic Control Unit
  • Actuator
  • Engine Control Module
  • Electronic Transmission Control Unit
  • Feedback Motor
  • Sensors
  • Others

By Solution

  • Brake by Wire
  • Steer by Wire
  • Throttle by Wire
  • Shift by Wire
  • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region.

This section analyses region-wise revenue and volume for the forecast period of 2019 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global drive by wire market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the drive by wire market.

The report includes country-wise and region-wise market size for the period 2019-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2030.

Why should you invest in this report?

If you are aiming to enter the global drive by wire market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for drive by wire are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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Precedence Research is a Canada/India based company and one of the leading providers of strategic market insights. We offer executive-level blueprints of markets and solutions beyond flagship surveys. Our repository covers consultation, syndicated market studies, and customized research reports. Through our services we aim at connecting an organization’s goal with lucrative prospects globally.

From gauging investment feasibility to uncovering hidden growth opportunities, our market studies cover in-depth analysis, which also is interspersed with relevant statistics. Recommendation are often enclosed within our reports with the sole intent of enabling organizations achieve mission-critical success.

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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