Drive By Wire Market worth $31.9 billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 2, 2020 /PRNewswire/ -- According to the new market research report "Drive By Wire Market by Application (Brake, Park, Shift, Steer, Throttle), Sensor (Brake Pedal, Throttle Position & Pedal, Park, Gearshift, Handwheel, Pinion), Vehicle (On & Off-Highway, BEV, PHEV, FCEV, Autonomous), Component & Region - Global Forecast to 2025", published by MarketsandMarkets™, the Drive By Wire Market is projected to reach USD 31.9 billion by 2025 from an estimated USD 24.0  billion in 2020 at a CAGR of 5.9% during the forecast period.

Browse in-depth TOC on "Drive by Wire Market"

161 – Tables
62 – Figures
215 – Pages

The Drive By Wire Market is primarily driven by the increasing demand for vehicle safety, comfort, and performance with lower emissions. Increasing popularity of premium vehicles particularly in growing economies is a major factor driving the Drive By Wire Market. Various developments in drive by wire components such as control units, sensors with enhanced performance is expected to propel automakers to adopt drive by wire in their models. Advancements in autonomous vehicles and increasing popularity of electric vehicles is expected to give a boost to the Drive By Wire Market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=64127606

Shift-by-wire is estimated to be the fastest growing application in the Drive By Wire Market

Shift-by-wire is a widely used technology among advanced automotive shifters. Shift-by-wire finds higher installation in light-duty vehicles. A lot of light-duty economic vehicles that run on automated manual transmission use this technology as a gear actuation system. This system helps improve the operation of the start-stop and regenerative braking systems. This, in turn, helps save energy and makes the vehicle more efficient. The installation of the shift-by-wire system also helps reduce the space and weight compared to the conventional transmission systems, resulting in considerable weight reduction. This system also diminishes the intensity of engine noise and provides high operational accuracy. Thus, the adoption of this technology will show tremendous growth in all vehicle types in the coming years. 

Gear Shift position sensor is expected to hold the largest market in drive by wire sensor segment

Gear shift position sensor is expected to have the largest market mainly due to the benefits offered by them. As the gear shift position sensor is non-contacting, there are no contacting parts, which enhances the lifespan of the component and improves credibility. Thus, benefits like better operational accuracy and increased lifespan of the vehicle are expected to drive its adoption. The shift-by-wire system employs a gear shift position sensor as a standard component. Hence, with the increasing demand for shift-by-wire systems, the market for gear shift position sensors is expected to increase.

Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=64127606

North America region is expected to lead the Drive By Wire Market during the forecast period.

North America is expected to lead the Drive By Wire Market during the forecast period. This is mainly due to the US as most of the vehicles produced are equipped with drive by wire. The changing consumer preference toward SUVs and pickup trucks with advanced technologies is expected to drive significant growth of drive by wire in the future. Also, regulations concerning emissions would influence manufacturers to shift focus toward weight reduction in heavy vehicles, such as LCVs, using drive by wire system. Hence, the market for drive by wire is anticipated to witness significant growth in the US market. The implementation of free trade agreements between the US, Canada and Mexico is expected to further drive imports of automobiles, thus driving the North America Drive By Wire Market. For instance, the US renegotiated the North American Free Trade Agreement, replacing it with an updated and rebalanced agreement that works much better for North America, the United States-Mexico-Canada Agreement (USMCA), which entered into force on July 1, 2020.  Thus, considering the above-mentioned factors, North American Drive By Wire Market is expected to grow significantly.

The Drive By Wire Market is dominated by a few global players and comprises several regional players. Some of the key manufacturers and suppliers of the Drive By Wire Market are Bosch (Germany), Continental (Germany), ZF (Germany), Infineon (Germany), Nexteer (US), CTS (US), Ficosa (Spain), Kongsberg (Switzerland), Hitachi Automotive (Japan), and Curtiss-Wright (US).

Browse Related Reports:

Automotive Actuators Market by Vehicle, Application, On-Highway Vehicle, Actuation, Motion, Product (Brake, Cooling Valve, Power Window, Throttle, EGR, Power Seat, Grille Shutter, HVAC, Headlamp, Piezoelectric), and Region - Global Forecast to 2027

Air Brake System Market by Type (Disc & Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber & Slack Adjuster), Rolling Stock, Vehicle Type (Rigid Body, Heavy-Duty, Semi-Trailer & Bus), Region - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/drive-by-wire-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/drive-by-wire.asp

SOURCE MarketsandMarkets