Dublin, Sept. 02, 2020 (GLOBE NEWSWIRE) -- The "X-by-wire System Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The x-by-wire system market is anticipated to register a CAGR of about 11.5% during the forecast period (2020 - 2025). The emergence of advanced driver assistance systems and the increasing levels of automation in vehicles are expected to increase the demand for automotive x-by-wire systems. However, currently, these systems have low penetration rates in the automotive market, owing to reliability issues, primarily due to instances of failure.
Owing to the demand for lighter vehicles with improved efficiency, x-by-wire systems will exhibit a significant growth rate in future due to their lightweight as they reduce or eliminate the usage of mechanical components with electronic control systems that are also easy to tune and service. Among x-by-wire systems, steer-by-wire and brake-by-wire systems are expected to witness the highest growth rates during the forecast period, owing to continuous technological advancements, coupled with new product developments by major players
Increasing Demand for Electrical cars and Autonomous Cars
The adoption rate of electric vehicles is increasing across the globe and the sales of electric and hybrid vehicles will show a significant growth during the forecast period. This growth can be attributed to the stringent emission norms and increased battery density. The ADAS features, which were earlier offered only in the high-end luxury cars are now being offered in entry level models.
From 2020, all the newly manufactured cars in the US will come installed with Automatic braking system, Lane Departure Warning System and Parking assistance system. This factor is expected to fuel the market for x by wire systems.
The autonomous car manufacturers will soon reach level 5 autonomy in which steering wheel's mechanical movement will be picked by sensors and electric control units will convert these signals into electronic signals that will control the electric motors for the movement of wheels.
China and India have manufacturing plants of some major OEMs that caters to global and local needs. Due to increase in disposable income of customers and infrastructure development in this region, demand for passenger cars and commercial vehicles is rising. China's adoption rate of electric vehicles is very high and it is constantly investing in reducing the weight of the vehicle. This is driving the installation rate of x by wire systems in vehicles.
North America is Leading the X-by-wire System Market
Geographically, the market studied is led by North America, followed by Asia-Pacific. In 2019, the United States dominated the North American region and accounted for approximately 72% of the regional share.
Shift by wire systems and throttle by wire systems enjoys a healthy share of x by wire system market in the US. Additionally, with the growing demand for the adoption of electric and hybrid vehicles, electric vehicle manufacturers are also looking forward to adopting brake-by-wire systems in their vehicles.
With the growing trend of autonomous vehicles in the United States, automobile manufacturers, such as BMW, Audi, and Daimler, are now introducing autonomous vehicles in the market, which is expected to further boost the demand for the x-by-wire market. Furthermore, with growing environmental concerns, along with the enactment of stringent emission regulations, the demand for and adoption of electric vehicles have been continually increasing, which in turn, is propelling the demand for x-by-wire systems in the country.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Throttle-by-wire System
5.1.2 Brake-by-wire System
5.1.3 Steer-by-wire System
5.1.4 Park-by-wire System
5.1.5 Shift-by-wire System
5.2 By Vehicle
5.2.1 Passenger Car
5.2.2 Commercial Vehicle
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Nissan Motor Corp.
6.2.2 Groupe PSA
6.2.3 Nexteer Automotive
6.2.4 Infineon Technologies
6.2.5 JTEKT Corp.
6.2.6 ZF TRW Automotive Holdings Corporation
6.2.7 Orscheln Products LLC
6.2.8 Tesla Corporation
6.2.9 Audi AG
6.2.10 Torc Robotics
6.2.11 Lokar Performance Products
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/z3zxn0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.