Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Automotive X-by-wire System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The global automotive industry is witnessing a remarkable shift towards X-by-wire technologies, characterized by replacing traditional mechanical control systems with electronic alternatives. The Automotive X-by-Wire System Market is a testament to this transition, showcasing a robust Compound Annual Growth Rate (CAGR) during the forecast period from 2018 to 2028. This comprehensive analysis delves into current market trends, opportunities, and potential challenges.
The X-by-Wire System, an integration of electronic components such as sensors, actuators, and control units, has taken center stage in contemporary automotive design. By replacing mechanical components, X-by-wire technology streamlines vehicle architecture, leading to substantial weight reduction and consequent enhancements in fuel efficiency and performance. This trend is gaining traction across both passenger and commercial vehicles, paving the way for a more sustainable mobility future.
The recent surge in demand for automotive X-by-wire systems is largely due to heightened global awareness of environmental issues, prompting governments and regulatory bodies to enforce stringent emission norms. Automotive manufacturers are adopting X-by-wire technologies such as steer-by-wire and brake-by-wire to meet these requirements, consequently driving market growth.
However, the COVID-19 pandemic momentarily impeded the progression of the automotive X-by-wire system market, as global vehicle production saw a decline. Despite this setback, ongoing advancements in research and development are set to reinvigorate the market. Major players like ZF Friedrichshafen AG are continually improving automotive X-by-wire systems, introducing added functionalities like automated emergency avoidance and precision parking capabilities.
While the cost of high-precision electronic components presents a challenge, automotive X-by-wire systems are nonetheless gaining acceptance. This is attributed to their superior control, lower maintenance requirements, and compatibility with advanced safety features. As technological advancements continue and costs become more competitive, these systems are expected to witness a significant uptake across various vehicle segments.
The market segmentation of the Global Automotive X-by-wire System Market includes analysis by vehicle type and system type, with a detailed regional breakdown. Automotive manufacturers are aligned with the market's trajectory and are ramping up their production capacities to cater to the escalating demand for these advanced systems.
Among the key entities in the automotive X-by-wire system market, companies such as Robert Bosch GmbH, Nexteer Automotive Corporation, and Hitachi Ltd are leading the charge with their innovative technologies and extensive product portfolios. As the automotive industry continues to evolve towards automation and enhanced efficiency, the Automotive X-by-wire System Market is positioned for substantial growth, underpinned by technological excellence and the transition towards greener mobility solutions.
Market Segmentation Highlights:
- Segmentation by Vehicle Type: Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle
- Segmentation by System Type: Park-By-Wire, Shift-By-Wire, Throttle-By-Wire, Brake-By-Wire, Steer-By-Wire
- Regional Analysis: North America, Asia-Pacific, Europe & CIS, South America, Middle East & Africa
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 113 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $0.45 Billion |
| Forecasted Market Value (USD) by 2028 | $2.38 Billion |
| Compound Annual Growth Rate | 31.5% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Nexteer Automotive Corporation
- Torc Robotics LLC
- Orscheln Products LLC
- Hitachi Ltd
- Schaeffler AG
- Curtiss-Wright Corporation
- Infineon Technologies AG
- CTS Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ya60ws
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
