Shift-by-Wire Market Growth Opportunities and 2030 Outlook in Automotive Industry

Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Growth Opportunity in the Global Passenger Vehicle Shift-by-Wire Market" report has been added to's offering.

The global automotive landscape is witnessing a major shift with the introduction of shift-by-wire (SBW) technology. An in-depth study released today provides a comprehensive analysis of the global SBW market from 2022 to 2030, emphasizing its growth prospects and implications for the industry.

The report uncovers the increasing penetration of SBW technology, which utilizes electronic systems to replace traditional mechanical transmission connections. With a strategic focus on SBW's deployment across global regions, the study delves into myriad factors contributing to market trends and technology adoption.

By offering a segment-wise analysis that covers both premium and mass-market OEMs, the newly published research evaluates the average pricing of essential SBW components such as actuators, motors, sensors, and gear shifters per vehicle. It highlights the anticipated consolidation within the vertical market, driven by new E/E architecture for software-defined vehicles and the accelerated transition to vehicle electrification.

The global SBW market is projected to reach a value of $5.53 billion by 2030, with North America at the helm of revenue generation, followed by China and the Asia-Pacific region. Emerging regions such as the Middle East/Africa, and South America, are also expected to showcase significant growth rates throughout the forecast period.

Key Market Dynamics

  • Growth Drivers: The study outlines diverse factors propelling the SBW market, including technological advancements and the increasing demand for electric vehicles.
  • Market Restraints: Constraints that could potentially impede market growth are also examined, lending investors and key stakeholders a holistic view of the market landscape.

Providing stakeholders with an invaluable resource, the report presents data-driven insights for seizing new opportunities and crafting aligned strategic initiatives to navigate regional preferences and automotive innovations impacting the SBW market.

This thorough exploration aims to support OEMs, Tier 1, and Tier 2 suppliers as they adapt to the evolving technological environment, helping them to stay at the forefront of the SBW market transformation.

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