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global drive by wire market size was USD 19.2 Billion in 2022 and is expected to reach USD 42.22 Billion in 2032, and register a rapid revenue CAGR of 8.9%

NEW YORK, NY, UNITED STATES , May 9, 2023 /EINPresswire.com/ -- The global Drive by Wire Market had a size of USD 19.2 billion in 2022 and is expected to grow rapidly at a revenue CAGR of 8.9% during the forecast period, reaching USD 42.22 billion in 2032. The main drivers of market growth are the increasing demand for luxury vehicles and the need for fuel-efficient and emission-free cars. Drive-by-wire technology offers several advantages over traditional mechanical systems, such as improved safety, better vehicle control, and lower maintenance costs. As a result, it is becoming more prevalent in high-end and performance vehicles.

Government regulations related to vehicle safety and emissions have compelled automakers to incorporate drive-by-wire technology into their designs. This technology reduces the overall weight of the vehicle and improves its fuel efficiency. It also results in a significant decrease in vehicle emissions, further boosting the market's revenue growth.

Furthermore, technological advancements have led to the development of Advanced Driver Assistance Systems (ADAS) that use drive-by-wire technology. These systems are increasingly being used in passenger cars as they provide improved safety features such as lane departure warning, adaptive cruise control, and collision avoidance.

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Segments Covered in the Report

The drive-by-wire market can be classified based on system type and vehicle type.

Based on system type, the drive-by-wire market includes Throttle-by-Wire, Brake-by-Wire, Shift-by-Wire, and Steer-by-Wire systems. Throttle-by-Wire replaces the traditional mechanical throttle system with an electronic one, allowing for more precise throttle control and improved fuel efficiency. Brake-by-Wire uses electronic sensors and actuators to control the braking system, providing faster and more accurate brake responses. Shift-by-Wire eliminates the need for a physical shift lever and replaces it with an electronic system, resulting in faster and smoother gear changes. Steer-by-Wire uses electronic sensors and actuators to control the steering system, allowing for more precise and responsive steering.

Based on vehicle type, the drive-by-wire market includes Passenger Cars, Commercial Vehicles, and Electric Vehicles. Passenger Cars are expected to have the largest share in the market due to the increasing demand for luxury cars and the growing trend towards automated and autonomous vehicles. Commercial Vehicles are also adopting drive-by-wire technology to improve safety and fuel efficiency. Electric Vehicles are another key segment, as drive-by-wire technology is essential for their operation, allowing for fine control of the powertrain and regenerative braking.

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Strategic development:

In 2020, Bosch and Daimler announced a collaboration to create a fully automated driverless parking system that allows vehicles to park themselves without any human assistance. This technology is set to be tested in a pilot project in a multi-story car park in Stuttgart, Germany, in early 2021.
Also in 2020, ZF Friedrichshafen AG introduced a new electric steering system, known as the Servolectric, which can be used in both conventional and electric vehicles. This system offers precise steering control and improved fuel efficiency by reducing the amount of energy required to turn the wheels.
Delphi Technologies, in 2020, unveiled a new Drive System technology that provides smooth and precise acceleration, deceleration, and steering control in electric and hybrid vehicles.
Continental AG, in 2021, introduced a new drive-by-wire system, named the AllCharge, which enables electric vehicles to recharge their batteries while in motion. The system captures energy from the vehicle's brakes and other sources, converts it into electricity, and then uses it to charge the battery.
Finally, in 2021, Nexteer Automotive announced the development of a new steer-by-wire system, called the Precision Beam Steering System, which provides precise and responsive steering control in autonomous vehicles. The system utilizes a combination of sensors and advanced software algorithms to deliver accurate and dependable steering control.
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Competitive Landscape:

he global drive by wire market is highly competitive, with several major players vying for a larger share of the market. The key players in the market include Bosch GmbH, ZF Friedrichshafen AG, Delphi Technologies, Continental AG, Nexteer Automotive, Kongsberg Automotive, Curtiss-Wright Corporation, and Precision Drive Systems (PDS).

Bosch GmbH is a leading global supplier of technology and services, with a focus on the automotive industry. The company offers a range of products and solutions for drive-by-wire systems, including electronic throttle control and brake control systems.

ZF Friedrichshafen AG is a leading technology company that offers a range of products and solutions for drive-by-wire systems, including electronic steering systems and transmission systems. The company is focused on developing advanced technologies that enhance safety and efficiency in vehicles.

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