Drive by wire systems are electromechanical control systems or mechanisms that are used to control throttle, braking, and steering systems in vehicles. Drive by wire systems offer several advantages such as enhanced vehicle performance, improved fuel efficiency, and improved safety. The components used in drive by wire systems provide precise electrical control of vehicle functions as compared to conventional mechanical linkages. They help improve vehicle dynamics by allowing programmed input of different parameters like steering response and brake pedal feel.

The global Drive by Wire Market is estimated to be valued at US$ 27.65 Bn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Safety enhancement is one of the major opportunities for growth in the drive by wire market. Conventional mechanical linkages have limitations in instantly reacting to critical driving situations such as emergencies. Drive by wire systems help overcome these limitations as they rely on electronic control units and sophisticated software rather than mechanical cables and linkages. Electronic control allows for programmed safety functions such as antilock braking, electronic stability control, traction control that help maintain stability in dangerous driving situations. The real-time processing of drive by wire systems also helps detect critical situations faster than humans and take automated corrective actions to avoid accidents. This enhances vehicle safety significantly and is expected to drive increased adoption of drive by wire technologies globally.

Porter's Analysis

Threat of new entrants: The drive by wire market has moderate threat of new entrants due to high R&D and technology investment required. However, new startups can enter the market by offering solutions for specific segments like steer-by-wire or shift-by-wire systems.
Bargaining power of buyers: Automotive OEMs have significant bargaining power as buyers due to their large purchase volumes. They can negotiate on price and demand additional features from suppliers.
Bargaining power of suppliers: Leading drive by wire system suppliers such as Bosch, ZF, and Mando have strong bargaining power due to their technical expertise and global presence. Switching costs for OEMs are also high.
Threat of new substitutes: There are no close substitutes for drive by wire technology currently. However, autonomous driving technology can reduce the need for certain drive by wire functions.
Competitive rivalry: The market has high competitive rivalry amongst technology giants producing differentiated products.

SWOT Analysis

Strength: Drive by wire provides advantages like reduced weight, improved vehicle dynamics and safety. It also allows various autonomous functions.
Weakness: High R&D costs, complexity in integrating with other systems, and need for extensive testing and validation make adoption challenging.
Opportunity: Growing electrification and shift to EVs provide an opportunity to drive demand. Connected mobility also increases scope for new software-defined functions.
Threats: Stringent safety and cybersecurity regulations pose compliance challenges. Technology disruption from autonomous driving can impact certain product segments.

Key Takeaways

The Global Drive By Wire Market Growth is expected to witness high over the forecast period driven by stringent emission and fuel efficiency norms.

Regional analysis of Europe comprises Germany dominating European market due to presence of leading auto manufacturers like Volkswagen, BMW, Mercedes. Growing focus on emission reduction is supporting growth of electrified vehicles and advanced systems like drive by wire. France and UK also offer significant growth opportunities.

Key players operating in the drive by wire market are Bosch, ZF, Mando, Nexteer, Continental, Thyssenkrupp, Ficosa, Kawasaki Heavy Industries, JTEKT, Nissan Motor. Key players are focused on developing Integrated modular systems and collaborating with automakers for product development and testing. They are also investing in new technologies like steer by wire and shift by wire.
 

Explore more information on this topic, Please visit-
https://www.newsstatix.com/drive-by-wire-market-share-size-and-growth-share-trends-analysis-demand-forecast/ 

Explore more trending article related this topic:
https://captionssky.com/solar-panel-automatic-cleaning-robot-the-future-of-solar-energy-production/