The Global Market for X-by-Wire Systems is Projected to Reach 162.3 Million Units by 2022
Rising Wave of Automobile “Electronification” Drives
the Global X-by-Wire Systems Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global X-by-Wire Systems market. The global market for X-by-Wire Systems is projected
to reach 162.3 million units by 2022,
driven by the growing wave of electronification in modern vehicles and the shift
towards autonomous driving experience.
Electronification in
modern vehicles is witnessing rapid growth as the auto industry continues its
perennial quest for engineering excellence. Over the years, the automobile has
evolved from mechanical machine to an intelligence self-ware electronic device.
The envisioned future of smart cars, connected cars and autonomous cars are key
factors driving the high tide of automobile "electronification".
Automotive electronics help improve performance, safety, and functionality of a
vehicle. Technology leaps hitherto taken in the continuously evolving field of
automotive electronics include ABS, collision avoidance systems, regulated
catalytic converter, front and rear lighting control, engine management, rain
detector, cruise control, radars/blind spot detection, instrument cluster,
traction control, active suspension, tire pressure monitoring system (TPMS),
vehicle computer, among numerous others. An average car currently flaunts over
100 on-board sensors, and as the smart car concept gains commercialization, sensors
per car are forecast to increase to over 250. Major areas of automotive
engineering benefiting from automotive electronics include engine and
drivetrain controls; safety and security; comfort, convenience and
entertainment; and navigation and instrumentation.
Electronic engine and
drivetrain controls continue to gain prominence against the backdrop of
stringent emission and safety norms and consumer emphasis on vehicle handling
and performance. In this regard, replacement of conventional mechanically
actuated components with electronic components is the established norm. The
1970s-80s witnessed the replacement of mechanically actuated ignition, fuel
systems, and carburetors with electronically controlled ignitions, carburetors, fuel injection systems, and feedback
catalytic converters. During the early 2000s, mechanical powertrains began to
be replaced with electronically augmented automatic transmission systems.
Currently, there is widespread interest in replacing the mechanical steering
column, shafts, pumps, belts, and cylinders with electronic systems. Defined as
an a collective term for technologies encompassing throttle by wire, brake by
wire, shift by wire, steer/drive by wire, park by wire, X by Wire eliminates
the physical connection between the vehicle’s mechanical components. Few of the
major factors driving interest in x by wire technologies include increased
comfort, better handling of the vehicle, superior safety, and higher
performance. In the coming years, growth in the X by wire market is forecast to
benefit from steady automobile production trends, developments in automotive
electronics and increasing electronic content per car, changing automobile
engineering and design trends, and customer demand for low cost, highly safe,
and performance packed automobiles.
As stated by the new
market research report on [X-by-Wire Systems], the
United States represents the largest and the fastest growing market worldwide with
a CAGR of 10.2% over the analysis period. Major factors driving growth in the
country include OEM interest in vehicle design flexibility, surging interest in
e-mobility and stringent regulations that mandate the use of electronics for
compliance.
Major players in the market
include Continental AG, CTS Corporation, Curtiss-Wright Corporation Danaher
Motion, LORD Corporation, Mobil Elektronik GmbH, Orscheln Products LLC, Robert
Bosch GmbH, RLP Engineering, SKF Group, TORC Robotics Inc., and ZF TRW ZF
Friedrichshafen AG, among others.
The
research report titled “X-by-Wire Systems: A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive
review of market trends, growth drivers, product innovations and strategic
industry activities of major companies worldwide. The report provides market
estimates and projections for sales of X-by-Wire Systems in Thousand Units for
all major geographic markets- US, Canada, Japan, Europe (France, Germany, Italy,
UK, Spain, Russia, and Rest of Europe), Asia-Pacific and Rest of World. The
global market for X-by-Wire Systems is also analyzed by the segments Shift-by-Wire,
Throttle-by-Wire, and Others (include park-by-wire,
Drive-by-Wire/Electro-Hydraulic Steering Assist Systems as well as
brake-by-wire systems among others).
Global Industry Analysts, Inc. 6150 Hellyer
Ave., San Jose CA 95138, USA, All Rights Reserved.
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