Asia Pacific to have higher growth rate in Automotive X-by-wire System Market by 2028

Rapid development in autonomous technology and upsurge in the demand for electric vehicles is driving the growth of global automotive X-by-wire system market in the forecast period2024-2028.

According to TechSci Research report, “X-By-Wire System Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”.

Global X-By- Wire System Market growing at faster pace as a result of rapid development of technology in autonomous vehicles. Automotive X-by-wire systems are used to replace mechanical or hydraulic systems associated with brakes or steering, by electronic systems. Based on system type, it is mainly divided into Park-By-Wire, Shift-By-Wire, Throttle-By-Wire, Brake-By-Wire, Steer-By-Wire, and Others. Using throttle by wire technique enables far more precise control of the throttle opening than an extended cable. A brake-by-wire system would completely do away with the necessity for hydraulics by using motors to drive the calipers. A steer-by-wire system directs the wheels using electric motors that are activated by an electronic control unit (ECU). The actuators inside the transmission receive electrical commands that specify the direction of motion, based on the driver's current input.

The automobile market is expected to rise dramatically in the coming years. Due to growing safety concerns for autonomous vehicles, businesses like Nexteer are working to develop automotive X-by-wire technology, integrating advanced safety features, such as stability control with the steering systems, lane departure warning etc. This adoption of automotive X-by-wire technology is anticipated to increase in the future years. Furthermore, due to the systems' ability to reduce weight, their use is gradually expanding in both commercial and off-road vehicles. Additionally, with the rise in sales of electric vehicles, the automotive X-by-wire System Market size is anticipated to grow at considerable CAGR in forecast years.

Many organizations are investing in developing the technology such as in 2022, ZF Friedrichshafen AG invested in steer-by-wire technology to provide more safety and convenience capabilities, such as autonomous emergency avoidance reactions and parking in very constrained spaces. The time spent on the production line is also reduced due to this technology, which is a significant advantage for manufacturers.

The automotive X-by-wire system becomes costly as it requires replacing the engine's existing mechanical system with electronic components. Additionally, as more people are purchasing cars with automatic transmissions, the market for shift-by-wire systems is growing. Furthermore, organizations are consistently investing in the research and development required for X-by-wire technology in autonomous vehicles, resulting in increasing market demand for the system. Given this, the automotive X-by-wire System Market is anticipated to grow over the coming years. The autonomous vehicle market is currently being led by North America, followed by Asia Pacific and Europe. Furthermore, throttle-By-Wire dominates the market with the majority of shares based on system type.

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The global X-by- wire system market can be segmented by vehicle type, by system type, and by region. On the basis of vehicle type, the market is segmented into Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle. Based on system type, it is divided into Park-By-Wire, Shift-By-Wire, Throttle-By-Wire, Brake-By-Wire, Steer-By-Wire, and Others. The market analysis also studies the regional segmentation to devise regional market, divided among Asia-Pacific, Europe & CIS, North America, South America, Middle East & Africa.

Some of the major companies operating in the global X-By- wire system market include:

• 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

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“The North America region is leading the global automotive X-By- wire system market in 2022 and it is expected to maintain its dominance in the forecast period due to high number of autonomous vehicles in the region. Furthermore, with the addition of electric vehicles in Asia Pacific and European region, global automotive X-by-wire System market is anticipated to grow at moderate CAGR in forecast years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Automotive X-by-wire System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By System Type (Park-By-Wire, Shift-By-Wire, Throttle-By-Wire, Brake-By-Wire, Steer-By-Wire, Others), By Region, Competition” has evaluated the future growth potential of Global X-By- Wire System Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive X-by-wire System Market.

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