Drive by Wire Market Size
Drive by Wire Market Size
The growth of the global drive-by-wire market is expected to be driven by the rise in autonomous vehicle development and connected infrastructure.
WILMINGTON, DE, UNITED STATES, November 14, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, the global drive-by-wire market size was valued at $18.76 billion in 2018, and is projected to reach $35.18 billion by 2026, registering a CAGR of 8.3% from 2019 to 2026.Drive-by-wire systems use electro-mechanical technology to control vehicle functions that were once managed by mechanical linkages. These systems replace energy-intensive, mechanical parts. Recently, electronics have been used to control not just the electronic throttle system but also the steering and braking systems. Drive-by-wire is essential for fully and partially autonomous driving, as it helps reduce harmful emissions and improve fuel efficiency.
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Autonomous vehicles offer several advantages over traditional ones, including improved safety, reduced fuel consumption, and less traffic congestion and emissions. These vehicles are equipped with various sensors, such as LiDAR, RADAR, cameras, GPS, and drive-by-wire systems. The sensors include both short-range (detecting nearby moving objects) and long-range (detecting fast-approaching vehicles) to help the vehicle avoid obstacles and reduce accident risks. The drive-by-wire system electronically controls vehicle functions, replacing traditional mechanical linkages.
Autonomous vehicles can also alleviate traffic congestion. A study by the University of Illinois showed that one autonomous vehicle stuck in a traffic jam with 20 human-driven cars can ease congestion by controlling its pace and influencing the speed of other vehicles. As the development of autonomous vehicles grows, it is expected to drive the expansion of the drive-by-wire market.
Global transportation infrastructure is evolving rapidly with the increasing adoption of the Internet of Things (IoT). Companies like Cisco and IBM have developed digital platforms to automate street lights, optimize waste management, and enhance surveillance. For example, IoT sensors installed on Las Vegas streets have helped reduce traffic congestion and address environmental challenges. Connected infrastructure, such as car parks, toll booths, and smart traffic lights, is driving the growth of both the autonomous vehicle and drive-by-wire markets. The growth of connected infrastructure creates favorable conditions for the widespread adoption of autonomous vehicles, further accelerating drive-by-wire market growth.
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Leading home security manufacturers are launching IoT-enabled security systems, allowing remote access to home security. The integration of these technologies is giving rise to smarter home security solutions with enhanced intrusion detection capabilities. The adoption of AI and deep learning in security systems is expected to provide advanced security and comfort for consumers, which could create significant growth opportunities for companies in the drive-by-wire market.
Drive-by-wire systems were first adopted nearly 20 years ago in military applications, then in commercial aircraft, and have since expanded to ground transportation. While traditional vehicles used hydraulic pressure, cables, and mechanical linkages to control direction and speed, drive-by-wire technology utilizes electronic controls for steering, braking, and other functions. However, the high costs associated with designing, manufacturing, and installing drive-by-wire systems could pose challenges to the market’s growth.
Based on application, the throttle by wire segment held nearly one-third of the total share of the global drive by wire market in 2018, and is estimated to maintain its dominant position during the forecast period. Moreover, this segment is expected to register the fastest CAGR of 9.5% from 2019 to 2026. This is due to its benefits such as traction & stability control, transmission shifts, better response, and others. The report offers insights on shift by wire, brake by wire, park by wire, and steer by wire.
Based on vehicle type, the passenger car segment held the largest market share in the global drive by wire market in 2018, contributing for nearly three-fifths of the total share, and will continue to lead in terms of revenue throughout the forecast period. This is attributed to increase in infrastructural development and research & development activities for the implementation of steer-by-wire technologies in passenger cars. However, the electric vehicle segment is estimated to grow at the fastest CAGR of 9.8% from 2019 to 2026, owing to government initiative for the penetration of electric vehicles and stringent government policies for emissions.
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Based on region, Asia-Pacific contributed to the highest market share in terms of revenue, accounting for more than half of the global drive by wire market in 2018, and is expected to maintain its lead position during the forecast period. This is due to rise in startups focusing on autonomous driving technologies and favorable government policies. North America accounted for nearly one-fifth of the total market share in 2018. However, Europe is expected to register the fastest CAGR of 9.8% from 2019 to 2026, owing to R&D initiatives for autonomous vehicles and supportive government initiatives.
Based on application, the throttle by wire segment held nearly one-third of the total share of the global drive by wire market in 2018, and is estimated to maintain its dominant position during the forecast period. Moreover, this segment is expected to register the fastest CAGR of 9.5% from 2019 to 2026. This is due to its benefits such as traction & stability control, transmission shifts, better response, and others. The report offers insights on shift by wire, brake by wire, park by wire, and steer by wire.
Leading Market Players
Continental AG
Robert Bosch GmbH
ZF Friedrichshafen
Nissan Motor Corporation
DENSO Corporation
Nexteer Automotive Group Limited
Kongsberg Automotive
Ficosa Corporation (Panasonic Corporation)
Curtiss-Wright Corporation
Hitachi Automotive
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