Dublin, Jan. 22, 2025 (GLOBE NEWSWIRE) — The “Drive-by-Wire – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Drive-By-Wire was estimated at US$30.4 Billion in 2023 and is projected to reach US$41.8 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
As automakers continue to innovate and develop next-generation vehicles, the shift towards electronic control systems is becoming inevitable, making drive-by-wire technology a cornerstone of modern automotive engineering.
What Factors Are Driving the Growth of the Drive-By-Wire Market?
The growth in the drive-by-wire market is driven by several factors, including the increasing demand for electric vehicles, the rise of autonomous driving technologies, and the emphasis on reducing vehicle weight for better fuel efficiency. As automakers transition to electric powertrains, drive-by-wire systems become crucial for reducing the complexity and weight of traditional mechanical components, thereby enhancing overall vehicle efficiency.
The development and deployment of autonomous and semi-autonomous vehicles, which require precise and responsive electronic control systems, further propel the demand for drive-by-wire technologies. Additionally, the focus on safety and enhanced vehicle dynamics, supported by stringent automotive safety regulations, encourages manufacturers to adopt drive-by-wire systems that offer more reliable and responsive performance. The growing trend of smart and connected vehicles also plays a significant role, as drive-by-wire systems integrate easily with digital vehicle networks, enabling more advanced control features.
How Is Technology Enhancing Drive-By-Wire Systems?
Technological advancements in sensors, actuators, and electronic control units (ECUs) are significantly enhancing the performance and reliability of drive-by-wire systems. Modern vehicles equipped with steer-by-wire, brake-by-wire, and throttle-by-wire systems benefit from real-time data processing capabilities that allow for precise adjustments and quicker responses, which are critical for ensuring safety and comfort. Redundancy and fail-safe mechanisms are being integrated into these systems to prevent malfunctions, enhancing trust and reliability for consumers and manufacturers alike.
The development of advanced driver-assistance systems (ADAS) and autonomous vehicle technology further boosts the demand for drive-by-wire components, as these electronic systems provide the flexibility and accuracy needed for automated vehicle control. Connectivity solutions, such as vehicle-to-everything (V2X) communication, are also being incorporated to enable better integration of drive-by-wire systems with broader smart mobility networks.
Where Are Drive-By-Wire Systems Being Utilized Most Effectively?
Drive-by-wire technology is primarily utilized in electric and hybrid vehicles, as well as in high-performance sports cars, where weight reduction and precision control are paramount. The adoption of these systems in electric vehicles (EVs) is particularly prominent, as they align with the lightweight design philosophy essential for maximizing battery range and efficiency. Autonomous vehicle prototypes and advanced driver-assistance systems (ADAS) are also heavily dependent on drive-by-wire technology, as it allows seamless integration of sensors, cameras, and radar systems for real-time vehicle control.
High-end sports cars leverage this technology to provide drivers with enhanced performance, precise handling, and customizable driving modes. The commercial vehicle segment is also seeing a gradual adoption of drive-by-wire systems, particularly for trucks and buses where safety features such as automated braking and lane assistance are increasingly becoming standard.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Drive-By-Wire Market such as Cognizant Technology Solutions Corporation, Continental AG, Curtiss-Wright Corporation, Ficosa International SA, Hitachi Automotive Systems Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 243 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $30.4 Billion |
| Forecasted Market Value (USD) by 2030 | $41.8 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Drive-By-Wire – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Adoption of Drive-By-Wire Technology in Electric Vehicles (EVs)
- Rising Demand for Lightweight and Fuel-Efficient Automotive Solutions
- Integration of Advanced Driver Assistance Systems (ADAS) with Drive-By-Wire
- Development of Autonomous Vehicles Driving the Need for Drive-By-Wire Systems
- Shift Towards Digital Control Systems Enhancing Vehicle Performance
- Expansion of the EV Market Supporting Adoption of Drive-By-Wire Technology
- Use of Redundant Systems for Improved Safety and Reliability in Drive-By-Wire
- Increasing Focus on Reducing Mechanical Components in Vehicle Design
- Advancements in Steer-By-Wire Technology for Enhanced Driving Experience
- Growth of Connected Car Solutions Incorporating Drive-By-Wire Systems
- Rising Investments in Research for Safe and Secure Drive-By-Wire Implementations
- Application of Drive-By-Wire in High-Performance Sports Cars
FOCUS ON SELECT PLAYERS:Some of the 43 companies featured in this report
- Cognizant Technology Solutions Corporation
- Continental AG
- Curtiss-Wright Corporation
- Ficosa International SA
- Hitachi Automotive Systems Ltd.
- Infineon Technologies AG
- Kongsberg Automotive ASA
- Nexteer Automotive Group Ltd.
- Robert Bosch GmbH
- ZF Friedrichshafen AG
For more information about this report visit https://www.researchandmarkets.com/r/7lao6l
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