The Drive By Wire Global Market Report 2023, provides comprehensive information on the drive by wire market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Drive By Wire Global Market Report 2023, the global drive by wire market size is expected to grow from $22.92 billion in 2022 to $24.22 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global drive by wire market size is expected to grow to $29.65 billion in 2027 at a CAGR of 5.2%.
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Technological advancements are a key trend gaining popularity in the drive by wire market. Major companies operating in the drive-by-wire market are focusing on the use of advanced solutions to sustain their market position. For instance, in March 2020, ZF Friedrichshafen AG, a Germany-based car parts manufacturer, launched front electric park brake technology for a wider range of vehicles. With this technology, automobile manufacturers can equip smaller vehicles with a modern braking system and design their interiors without the typical handbrake lever or parking brake pedal. Its features include the auto-hold and stop-and-go functions, and the increased static load distribution on the front axle, which contributes to improved parking safety.
The drive by wire market 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
Asia-Pacific was the largest region in the drive by wire market in 2022.
The table of contents in TBRC’s drive by wire market report includes:
- Executive Summary
- Drive-By-Wire Market Characteristics
- Drive-By-Wire Market Trends And Strategies
- Drive-By-Wire Market – Macro Economic Scenario
- Drive-By-Wire Market Size And Growth
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- Africa Drive-By-Wire Market
- Drive-By-Wire Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Drive-By-Wire Market
- Drive-By-Wire Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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