Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Drive by Wire Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market landscape for drive by wire technology is expected to undergo significant growth, fueled by innovative automotive advancements and the rising demand for electric and autonomous vehicles. A new comprehensive market research report examining the drive by wire sector has been added to our website's extensive collection of industry analyses.
The report propounds that the market is set to expand from $24.07 billion in 2023 to an estimated $31.74 billion by 2028, marking a steady CAGR of 5.7%. This growth is attributed to various factors, including stringent regulatory mandates aimed at enhancing vehicle performance, safety measures, and emission regulations, alongside heightened consumer demand for cutting-edge vehicle features.
Written with an authoritative analytic approach, the research elucidates on how the Asia-Pacific region emerges as a pivotal player in this market domain, boasting the largest share in 2023 and projected to maintain an accelerating growth trajectory during the forecast period. The detailed report covers a wide array of key components such as electronic control units, actuators, and engine control modules that are central to the technology's functionality.
The thorough market analysis provided in the report identifies prominent trends shaping the industry's horizon. One of the focal trends is the integration of drive-by-wire systems in the burgeoning field of autonomous vehicles, a phenomenon that is fundamentally transforming the automotive industry. The research also highlights the escalating incorporation of electric vehicles (EVs), spotlighting the role of drive-by-wire technology in facilitating this electrification wave.
This insightful research piece further emphasizes strategic collaborations among leading companies as a catalyst for technological advancements within the drive-by-wire sphere. It cites recent partnerships and acquisitions as evidence of the industry's consolidation, which emphasizes the importance of synergy in driving the market's expansion.
The study delineates the extensive impact of drive-by-wire across diverse vehicle categories, including passenger cars, commercial vehicles, and electric and off-highway vehicles. It provides an exhaustive breakdown of key applications including throttle-by-wire, steer-by-wire, and brake-by-wire systems, among others.
Key Market Insights:
- Projected market growth to $31.74 billion by 2028 with a CAGR of 5.7%
- Asia-Pacific region leading the drive by wire market with the fastest growth rate
- Significant influence of electric and autonomous vehicle integration on market expansion
- Strategic industry collaborations fueling advancements in drive-by-wire technologies
A selection of companies mentioned in this report includes
- 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
- Danaher Motion
- Delphi Automotive PLC
- Mobil Elektronik GmbH
- Infineon Technologies AG
- Chicago Telephone Supply
- Orscheln Products LLC
- KSR International Co.
- Stoneridge Inc.
- Dura Automotive Systems LLC
- Kostal Automotive Electrical Systems
- Schaeffler AG
- Mando Corporation
- JTEKT Corporation
- Nippon Seiko Kabushiki Kaisha
- Mitsubishi Electric Corporation
- General Motors Company
- Jaguar Land Rover Limited
- Infineon
For more information about this report visit https://www.researchandmarkets.com/r/fgqr92
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