Drive By Wire Market Generated $23,174.2 Million Revenue in 2020: P&S Intelligence

NEW YORK, July 19, 2021 /PRNewswire/ -- The increasing implementation of stringent vehicular emission laws, rapid improvements being made in connected infrastructure, and advancements in autonomous vehicle technologies are driving the incorporation of drive by wire controls in automobiles. Due to these factors, the global drive by wire market revenue rose to $23,174.2 million in 2020, according to P&S Intelligence.

The COVID-19 pandemic has hampered the growth of the drive by wire market. The production of automobiles came to a halt because of the imposition of lockdowns in several countries. Moreover, these lockdowns caused disruptions in the supply chain, which, in turn, hindered the manufacturing cycle of automobiles. Due to the shutting down of manufacturing facilities and falling sales of automobiles, the market stopped growing in 2020.

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The market is classified into brake by wire, throttle by wire, shift by wire, park by wire, and steer by wire, depending on application. Out of these, the shift-by-wire category is dominating the market. The incorporation of the shift-by-wire system assists in reducing the weight of the automobile by a greater margin than what is possible by using conventional transmission systems. Furthermore, this system also reduces the intensity of the engine noise and provides greater operational accuracy.

Browse detailed report with COVID-19 impact analysis on Drive By Wire Market Research Report: By Vehicle Type (Passenger Car, Commercial Vehicle), Sensor Type (Throttle Pedal Sensor, Steering Wheel Angle Sensor, Gear Shift Position Sensor), Application (Throttle by Wire, Shift by Wire, Brake by Wire, Park by Wire, Steer by Wire) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/drive-by-wire-market

Globally, Asia-Pacific (APAC) dominated the drive by wire market during the historical period (2015–2020). This was because of the high disposable income of the middle-class populace and the various cost advantages provided by original equipment manufacturers (OEMs), on account of the availability of affordable labor and raw materials in the region. Furthermore, the implementation of stringent emission norms and the mushrooming popularity of luxury and premium vehicles are also fueling the growth of the market in APAC.

The players operating in the drive by wire market are actively focusing on product developments to strengthen their position and expand their presence. For example, ZF launched the next-generation AKC active rear-axle steering system with technical developments in October 2020. A larger steering angle, of up to 10 degrees, massively improves the agility of long vehicles and the steer-by-wire technology simplifies the incorporation of automated driving functions.

Likewise, Infineon Technologies AG launched a trusted platform module (TPM) particularly for automotive applications in October 2019. The new OPTIGA TPM 2.0 acts like a computer on wheels by encrypting communication between the vehicle and the automobile manufacturer. By adopting it, automakers can incorporate sensitive security keys for assigning access rights, data encryption, and authentication in the car. The TPM can also be updated so that the security level can be kept updated throughout the vehicle's service life.

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Robert Bosch GmbH, DENSO CORPORATION, TRW Automotive Holdings Corp., Curtiss-Wright Corporation, Infineon Technologies AG, Hitachi Automotive Systems Ltd., Ficosa Internacional SA, Nissan Motor Corporation, Kongsberg Group, and ZF Friedrichshafen AG are some of the major drive by wire market players.

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SOURCE P&S Intelligence