2025-2034 Drive By Wire Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Drive By Wire Industry Market Size Be by 2025?

In recent times, the drive by wire market has experienced solid growth. The market value is projected to increase from $25.07 billion in 2024 to $26.34 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%. The growth observed in the historic period is credited to the rising demand for better vehicle performance, safety systems, and driver assistance. Regulatory standards and requirements, decreased mechanical complexity, along with fuel efficiency and emission reduction have also contributed to this upward trend.

What's the Long-Term Growth Forecast for the Drive By Wire Market Size Through 2029?

The market size of drive by wire is projected to experience substantial growth in the upcoming years, reaching a value of $33.44 billion in 2029 with a Compound annual growth rate (CAGR) of 6.1%. This growth during the projected period can be attributed to factors such as innovations in the aerospace and defense sectors, rising demand from consumers for more sophisticated features, an increase in the number of electric and hybrid vehicles, the introduction of autonomous driving elements, improvements in fuel efficiency and emission reduction. The period also foresees critical trends such as the incorporation of autonomous and electric vehicles, advanced safety measures and driver support features, improved vehicle performance and efficiency, adherence to regulatory requirements and standards, and a decrease in mechanical complexity.

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What Are the Key Growth Drivers Fueling the Drive By Wire Market Expansion?

The drive-by-wire market's expansion is anticipated to be driven by the rising demand for electric vehicles (EVs). Electric vehicles, which are vehicles with electricity-powered motors and batteries, bypass the use of fossil fuels like gasoline and diesel by using electric motors to charge their batteries. The drive-by-wire technology in electric vehicles relies on electronic systems to facilitate the activation of brakes, steering control, and engine fuelling. For example, a report released by the US Department of Energy in January 2023 revealed that the monthly sales of new plug-in electric cars, consisting of all-electric vehicles (EV) and plug-in hybrid electric vehicles (PHEV), accounted for 7.4%, surpassing 7% for the first time in September 2022, with 1.2% of these being PHEVs. Consequently, the heightened demand for electric vehicles stimulates the drive-by-wire market's growth.

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What Are the Key Trends Driving Drive By Wire Market Growth?

Key businesses in the drive-by-wire sector, like ZF Friedrichshafen AG and Nio Inc., are leveraging strategic alliances to innovate in areas like steer-by-wire (SBW) products and beyond. Such alliances allow companies to capitalize on each other's strengths and assets to reap shared rewards. In October 2022, Germany's ZF Friedrichshafen AG joined hands with China-based auto manufacturer, Nio Inc. This collaboration was established to enhance communication and foster regular technical exchanges, alongside aiming to create industry-leading procedures and high-quality norms. Aside from technological cooperation, ZF and NIO plan to broaden their collaboration to encompass brand enhancement, product promotion, technological progress, quality upgradation, and bolstering customer experience. This deal represents a meaningful development as it signifies the debut of ZF Group's steer-by-wire collaboration with a customer in the Asia-Pacific. Similarly, both enterprises are committed to pushing technological innovation and growth in various sectors, such as autonomous driving and electrification.

How Is the Drive By Wire Market Segmented?

The drive by wire market covered in this report is segmented -

1) By Vehicle Type: Passenger Car, Commercial Vehicle, Electric Vehicle, Off-Highway Vehicles

2) By Component: Vehicle Electronic Control Unit, Actuator, Engine Control Module, Electronic Transmission Control Unit, Feedback Motor, Sensors, Other Components

3) By Application Type: Throttle-By-Wire, Steer-By-Wire, Shift-By-Wire, Brake-By-Wire, Park-By-Wire

Subsegments:

1) By Passenger Car: Sedan, SUV, Hatchback, Coupe

2) By Commercial Vehicle: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Buses

3) By Electric Vehicle: Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), Hybrid Electric Vehicles (HEVs)

4) By Off-Highway Vehicles: Agricultural Vehicles, Construction Vehicles, Mining Vehicles, Forestry Vehicles

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Which Companies Are Leading the Charge in Drive By Wire Market Innovation?

Major companies operating in the drive by wire market include Continental AG, Robert Bosch GmbH, Zahnradfabrik Friedrichshafen AG, Nissan Motor Co. Ltd., Nexteer Automotive, Kongsberg Automotive Holding ASA, Curtiss-Wright Corporation, Hitachi Astemo Ltd., Nippon Denso Co.Ltd, Ficosa Corporation, Daimler Truck, ME Mobil Elektronik GmbH, Mobil Elektronik GmbH, Infineon Technologies AG, Orscheln Products LLC, KSR International Co., Stoneridge Inc., Dura Automotive Systems LLC, Kostal Automotive Electrical Systems, Schaeffler AG, Mando Corporation, JTEKT Corporation, Mitsubishi Electric Corporation, General Motors Company, Jaguar Land Rover Limited

Which Regions Are Leading the Global Drive By Wire Market in Revenue?

Asia-Pacific was the largest region in the drive by wire market in 2024. Asia-Pacific is expected to be the fastest-growing region in the drive by wire market during the forecast period. The regions covered in the drive by wire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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