Drive by Wire Market Size

OREGAON, PORTLAND, UNITED STATES , November 24, 2023 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Drive by Wire Market by Application (Throttle By Wire, Shift By Wire, Brake By Wire, Park By Wire, and Steer By Wire), Vehicle Type (Passenger Car, Commercial Vehicle, Electric Vehicle, and Off-highway Vehicles) and Component (Actuator, Electronic Control Unit (ECU), Engine Control Module (ECM), Electronic Throttle Control Module (ETCM), Electronic Transmission Control Unit (ETCU), Feedback Motor, Parking Pawl, Sensors, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global drive by wire market garnered $18.76 billion in 2018, and is expected to reach $35.18 billion by 2026, registering a CAGR of 8.3% from 2019 to 2026.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/6233

𝐋𝐢𝐬𝐭 𝐎𝐟 𝐊𝐞𝐲 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

Prime determinants of growth

Increase in development of autonomous vehicles and rise in connected infrastructure drive the growth of the global drive by wire market. However, threat of data hacking and malfunctioning along with high cost hinder the market growth. Furthermore, development of smart cities offers opportunities for growth for the key players operating in the market.

The throttle by wire segment to maintain its dominant position during the forecast period

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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/drive-by-wire-market/purchase-options

The passenger car segment to lead in terms of revenue throughout the forecast period

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.

Asia-Pacific to contribute highest revenue, North America to contribute one-fifth

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.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/6233

Avenue Basic Plan | Library Access

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

https://www.alliedmarketresearch.com/automotive-radar-market - Automotive RADAR Market

https://www.alliedmarketresearch.com/autonomous-vehicle-market - Autonomous Vehicle Market

https://www.alliedmarketresearch.com/connected-car-market - Connected Car Market

https://www.alliedmarketresearch.com/automotive-software-market - Automotive Software Market

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.