Global X-by-Wire Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global x-by-wire market in its upcoming report titled, “Global X-by-Wire Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global x-by-wire market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global x-by-wire market report has been segmented on the basis of technology, vehicle type, and region.

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X-by-wire is also referred to as drive by wire or steer-by-wire technology in the automotive industry. X-by-wire technology is the use of electrical or electro-mechanical systems for performing vehicle functions traditionally achieved by mechanical linkages. Components such as the steering column, intermediate shafts, pumps, hoses, belts, coolers and vacuum servos, and master cylinders are eliminated from the vehicle and replaced with electronic systems. This is similar to the fly-by-wire systems used widely in the aviation industry.

Growing demand for fuel efficient and light weight vehicles are key factors driving growth of the global x-by-wire market. In addition, prominent automotive vehicle manufacturers focusing on adoption of advanced technologies in vehicles and reducing overall vehicle emissions are other major factors anticipated to boost growth of the global x-by-wire market over the forecast period. Moreover, increasing adoption of these technologies in other vehicles such as forklifts, harvesters, and in vehicles used for construction and mining is another factor projected to propel growth of the global market to a significant extent.

However, high costs associated with wide adoption of x-by-wire technologies is a major factor restraining growth of the global x-by-wire market. Additionally, high energy requirements for x-by-wire technologies to function properly and issues related with use of electro-mechanical systems in vehicles are other factors expected to hamper growth of the global x-by-wire market over the forecast period.

Currently, the market in North America dominates the global x-by-wire market in revenue terms owing to presence of prominent players in the market and high adoption of x-by-wire technologies in vehicles in the region. The market in Europe accounted for second-highest revenue share in the global x-by-wire market, due to high disposable income and increasing adoption of x-by-wire technologies, followed by markets in Asia Pacific and Latin America respectively. The market in Asia Pacific is projected to witness significant growth in terms of revenue, owing to growing demand for fuel efficient and lower emission vehicles and increasing disposable income among individuals in emerging economies such as China and India.

Global x-by-wire market segmentation:

By technology:

• Throttle-by-wire
• Shift-by-wire
• Park-by-wire
• Brake-by-wire
• Suspension-by-wire

By vehicle type:

• Passenger Vehicles
• Commercial Vehicles

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa