The automotive drive by wire market is projected to reach USD 27.9 billion by 2027 from an estimated USD 20.6 billion in 2022 at a CAGR of 6.2% during the forecast period, driven by developments in the automotive drive by wire sector and growing EV sales and increasing autonomous vehicle developments. For instance, in July 2022, CNH industrial-backed Monarch tractors unveiled its first fully electric farm tractor which came equipped with Drive by Wire capabilities.
By vehicle type, the passenger car segment is estimated to be the largest market for the automotive drive by wire market owing to the largest production volume globally and growing demand and adoption for SUVs and premium and luxury cars, and Electric Vehicles. This trend is growing popular as the drive by wire systems reduce the overall weight and complexity of the system by removing mechanical systems, thereby reducing the overall maintenance cost. Factors such as improved performance, safety, and reliability, along with the reduction in manufacturing and operating costs for automotive manufacturers, are contributing to the growth of drive by wire technology in the passenger car market. Most governments in the world are strengthening emission regulations, and drive by wire system offers enhanced fuel efficiency and reduced carbon emissions. And thus, the drive by wire system has emerged as a viable alternative to conventional mechanical automotive systems that can reduce weight as well as optimize the vehicle’s mechanism to reduce emissions. The drive by wire currently finds its usage in most of the mid-size, SUV, and luxury car segments. The luxury car segment includes brands like Audi, BMW, Land Rover, Mercedes-Benz, and Jaguar. These vehicles have a higher price as they are equipped with advanced safety and comfort features. The electronic systems used in luxury vehicles enhance performance and comfort. Thus, passenger cars are expected to have a significant share in the drive by wire industry in the forecast period.
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Steer by wire is expected to see the fastest growth in the given forecast period. Less moving mechanical parts help reduce demand and costs for fuel. Research shows that electrohydraulic steering technology was able to reduce fuel consumption by nearly 15%, as well as improve overall fuel efficiency by 43.5%. In addition to better operating adaptation capabilities, the removal of a steering shaft entirely can reduce the risk of operator injury.
Regions like North America and Europe are early adopters of drive by wire systems for vehicles to enhance the safety, efficiency standards, and integrity of ride. Even though the adoption of drive by wire is expected to grow in North America and Europe, Asia Pacific is expected to have the largest market share due to increasing sales of SUVs, feature-rich cars, and EVs. However, these systems will be more concentrated in more premium vehicles, as far as the case for IC engines. However, EVs will see a major adoption of these systems given the need for light weighting in order to increase the overall efficiency and range of batteries of the vehicles. This is attributed to the reason that DBW systems have fewer parts compared to mechanical systems, that overall reduces the weight and simplifies the design of the system.
Asia-Pacific is estimated to be the largest-growing market due presence of major automobile manufacturers in China, India, Japan, and South Korea. The Asia Pacific market is witnessing major shifts in terms of vehicle preference. The major automobile markets i.e., India and China, are witnessing increasing preference for SUVs, EVs, and Autonomous and Luxury vehicles. This shift is expected to be due to rising incomes and living standards in these countries. Also, major manufacturers in these nations are heavily investing in developing new technologies in their respective domains as there is an overall healthy demand for such vehicles in the Asia-Pacific market.
Thus, safety standards, an increasing share of the premium and luxury cars and SUVs, coupled with the growing adoption of EVs, and thereby, the need to reduce their weight and simplify their overall system architecture is expected to drive the automotive drive by wire market globally.
Key Market Players:
The drive-by-wire companies are Bosch (Germany), Continental (Germany), ZF (Germany), Infineon (Germany), Nexteer (US), CTS (US), Ficosa (Spain), Kongsberg (Switzerland), Hitachi Automotive (Japan), and Curtiss-Wright (US).
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