Automotive X-by-Wire System Market: Current Analysis and Forecast (2022-2030)
Emphasis on Type (Throttle-by-wire System, Brake-by-wire System, Steer-by-wire System, Park-by-wire System, and Shift-by-wire System); Vehicle Type (Passenger Cars, and Commercial Vehicles); Region/Country.
The Automotive X-By-Wire System Market was valued at USD 39 billion in 2021 & is expected to grow at a CAGR of 14.0% from 2022-2030. Owing to the increasing demand for advanced driver assistance systems (ADAS) in vehicles. X-by-wire systems are critical components of many ADAS systems, such as lane departure warning and adaptive cruise control. As consumers become more aware of the benefits of ADAS and governments implement stricter regulations to improve road safety, the demand for ADAS systems is expected to increase, which will drive the growth of the X-by-wire market.
Another factor contributing to the growth of the X-by-wire market is the growing demand for electric and hybrid vehicles. X-by-wire systems are critical components of these vehicles, as they allow for precise and efficient control of the vehicle’s powertrain. The increasing adoption of electric and hybrid vehicles, particularly in Europe and Asia, is expected to drive the growth of the X-by-wire market in the coming years.
Advancements in X-by-wire technology are also contributing to the growth of the market. The automotive industry is investing heavily in research and development to improve the performance and efficiency of X-by-wire systems. This is driving the adoption of X-by-wire technology in vehicles and is expected to continue to drive the growth of the market in the coming years. In July 2022, ZF Friedrichshafen AG (ZF) demonstrated its cutting-edge steer-by-wire system and said that major automakers had awarded significant volume contracts starting in 2023 in all key markets. ZF steer-by-wire systems could allow for completely autonomous vehicle control.
Some of the major players operating in the market include Nissan Motor Co., Ltd., Nexteer Automotive Corporation, Infineon Technologies AG, JTEKT Corporation, ZF Friedrichshafen AG, Orscheln Products., Tesla Inc., Audi AG, Robert Bosch GmBH, and Continental AG. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the park-by-wire system segment has a significant growth rate.”
Based on type, the market is segmented into throttle-by-wire system, brake-by-wire system, steer-by-wire system, park-by-wire system, and shift-by-wire system. Amongst these, the park-by-wire system segment of the automotive X-by-wire market has a significant share for several reasons. Firstly, it offers an improved driving experience for drivers. In electric vehicles, the park-by-wire system allows for more precise and responsive control over the regenerative braking system, which can make driving more enjoyable. Secondly, the park-by-wire system increases safety for drivers by providing automatic parking and parking assist features. These features can reduce the risk of accidents and make parking more convenient and safer.
“Amongst vehicle type, the commercial vehicle segment has a significant growth rate.”
By vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. Among these, the commercial vehicles segment of the automotive X-by-wire market has a significant share due to several key reasons. Firstly, improved fuel efficiency is a critical factor for commercial vehicles, which often operate on long routes and require frequent stops. X-by-wire systems can help improve fuel efficiency by providing more precise control over the vehicle’s powertrain, allowing for better optimization of the amount of power delivered to the wheels. This can lead to significant cost savings for commercial vehicle operators. Secondly, safety is a top priority for commercial vehicles, which often carry heavy loads and operate at high speeds. X-by-wire systems offer several safety benefits, such as improved stability control and automatic emergency braking, which can help reduce the risk of accidents and make driving safer.
“Asia-Pacific is expected to grow at the highest CAGR during the forecasted period”
The Asia-Pacific region is expected to experience the highest growth in the automotive X-by-wire market during the forecasted period. This is due to a variety of factors, including the increasing demand for electric and hybrid vehicles, government initiatives that support the adoption of these vehicles, advancements in X-by-wire technology, growing consumer demand for premium vehicles equipped with X-by-wire systems, and the increasing demand for advanced driver assistance systems (ADAS) in the region. In particular, the rising demand for electric and hybrid vehicles in countries like China and Japan is driving the growth of the X-by-wire market in the Asia-Pacific region. X-by-wire technology is a critical component of these vehicles, as it allows for precise and efficient control of the vehicle’s powertrain. Additionally, government initiatives such as incentives for the adoption of electric vehicles and stricter emission regulations are encouraging the development and adoption of X-by-wire technology in the region.
The advancements in X-by-wire technology, particularly in sensor technology, actuator technology, and control systems, are also contributing to the growth of the market. The automotive industry in the Asia-Pacific region is investing in research and development to improve the performance and efficiency of X-by-wire systems. This is driving the adoption of X-by-wire technology in the region.
Furthermore, the increasing disposable income of consumers in the Asia-Pacific region is leading to a growth in demand for premium vehicles, which often come equipped with X-by-wire systems. This, in turn, is driving the demand for X-by-wire technology in the region.
Automotive X-by-Wire System Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global automotive X-by-wire system market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Automotive X-by-Wire System Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive X-by-wire system market were the three major steps undertaken to create and analyze the adoption of automotive X-by-wire system in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive X-by-wire system market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive X-by-wire system market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive X-by-wire system market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive X-by-wire system market. Further, we conducted factor analysis using dependent and independent variables such as product, technology, and end-users of the automotive X-by-wire system market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive X-by-wire system market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive X-by-wire system market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive X-by-wire system market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global automotive X-by-wire system market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive X-by-wire system market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global automotive X-by-wire system market.
The main objective of the Global Automotive X-by-Wire System Market Study
The current & future market trends of the global automotive X-by-wire system market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the automotive X-by-wire system market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type and vehicle type.
- Define and analysis of the regulatory framework for the automotive X-by-wire system industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the automotive X-by-wire system market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the automotive X-by-wire system market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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