February 2024
05 Jan 2024
The global drive by wire market size surpassed USD 24.59 billion in 2022 and is expected to rake around USD 49.98 billion by 2032, poised to grow at a CAGR of 7.4% from 2023 to 2032.
Drive-by-wire (DbW) technology in the automotive sector involves employing electronic or electro-mechanical systems instead of traditional mechanical linkages to control driving functions. This concept is similar to the fly-by-wire systems used in the aviation industry. In recent years, the automotive industry has integrated electronics and computers into vehicles, introducing drive-by-wire systems for enhanced safety, functionality, and driver comfort. These systems, relying on sensors and computers, precisely control vehicle actions such as braking and acceleration. Beyond performance benefits, drive-by-wire technology is environmentally friendly, potentially improving fuel economy and reducing emissions. Vehicle owners adopting this technology can contribute to environmental conservation, positively impacting market growth.
The drive by wire market is ready for growth due to the increasing demands for passenger comfort and government mandates to control vehicle emissions. The market is also expected to benefit from improved fuel efficiency, reduced routine maintenance visits, and ongoing technological advancements in the automotive industry. Stringent emission norms set by governments and regulatory bodies further contribute to the anticipated growth of the market during the forecasted period. Moreover, factors such as the increasing development of autonomous vehicles also impact the market's growth. The rise in connected infrastructure is also expected to further boost this growth along with the development of intelligent cities, presenting significant growth opportunities for key players.
Based on application, the global drive by wire market is categorized into brake-by-wire, steer-by-wire, shift-by-wire, and electronic throttle control. Among these, the electronic throttle control considered the oldest drive-by-wire technology, is anticipated to experience significant revenue growth throughout the forecast period. Numerous automotive manufacturers, such as Bosch, Audi, Ford, and Continental. are actively working on advancing the concept of autonomous vehicles. In this context, throttle-by-wire systems are pivotal in governing electric motors. These systems detect inputs from the accelerator pedal and transmit commands to the power inverter modules.
North America has a prominent position in the global drive by wire market in 2022, driven by the increasing adoption of autonomous vehicles by individuals, businesses, and the U.S. military. This surge in demand for autonomous or self-driving cars is attributed to their advanced technology utilizing various electronic components for various functions. Moreover, being part of developed economies, the region benefits from a population with sufficient disposable income, particularly for non-essential items like cars. Numerous companies are adopting strategies such as partnerships and collaborations to strengthen their market position.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 26.29 Billion |
| Projected Forecast Revenue by 2032 | USD 49.98 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 7.4% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver
Technological innovations and discoveries
Continuous innovations and enhancements mark the drive-by-wire market. Global market players are dedicated to creating new drive-by-wire systems offering increased safety and comfort. Systems related to various functionalities in automobiles, such as steering, acceleration, gear transmission, braking, and other mechanical operations, are consistently refined by manufacturers. For instance, steer-by-wire systems have evolved from basic power steering units to advanced systems designed to enhance steering feel and incorporate fail-safe redundancy, enabling steering operation in the event of a failure. The highly dynamic market requires companies to engage in ongoing research and development efforts to stay current with changing trends and technological advancements.
Integration of IoT into the automotive framework
The rapid adoption of the Internet of Things (IoT) drives significant evolution in global transportation infrastructure. Companies like Cisco and IBM are creating digital platforms to automate street and traffic systems, optimize waste collection, and enhance surveillance. IoT integration is rising in the automotive industry, connecting cars to communication networks for features like voice assistance.
Quectel Wireless Solutions collaborated with Marelli, indicating potential growth in IoT capabilities for the automotive market. The expanding connected infrastructure is expected to boost the global drive by wire market during the forecast period.
Restraint
High cost and energy consumption
The drive by wire market is growing due to the increasing global popularity of electric vehicles driven by reduced emissions and fuel consumption. However, challenges such as high costs, preference for low-cost alternatives, and concerns about energy requirements and electro-mechanical systems impact the market's growth. Despite these challenges, market players focus on continuous innovation to enhance safety and comfort in drive-by-wire systems.
Opportunities
The rapid adoption of new technologies
The drive by wire market is experiencing significant growth opportunities driven by continuous technological advancements and innovations by market players. Notably, crucial technologies like GPS, computer vision, radar, and laser are employed for uncrewed ground vehicles and driverless cars, enhancing the demand for drive-by-wire systems. Adopting computer-controlled technologies and eliminating mechanical links such as brake by wire, suspension by wire, steer by wire, and shift by wire is essential for autonomous transportation, presenting substantial growth prospects for the drive by wire market.
Evolving smart cities
The growth of smart cities worldwide is boosting the demand for drive-by-wire technologies, driven by integrating IoT and connected devices. This evolution supports the development of efficient, intelligent transportation systems, where interconnected cars with innovative features rely on various drive-by-wire technologies, including the electronic control unit (ECU).
Vehant Technologies deployed an Intelligent Traffic Management and Surveillance System in Jammu, using advanced technology to create a network of connected cars for effective traffic management. This trend offers a significant opportunity for drive-by-wire technology providers to accommodate the increasing demand for intelligent vehicle features and expand the market.
Market Segmentation
By Component
By Solution
Buy this Research Report@ https://www.precedenceresearch.com/checkout/1238
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308
February 2024
October 2023
July 2023
July 2022