TECHGuru

  According to the report, the global drive-by-wire market is projected to surpass US$ 63.75 Bn by 2031, expanding at a CAGR of 9.62% during the forecast period. Rise in expansion of electric and autonomous vehicle sector across the globe is likely to propel the drive-by-wire market, as the logistics sector needs a large number of commercial trucks to carry goods from one place to another. Drive-by-wire is an emerging technology in the automobile sector, which has replaced the mechanical system such as master cylinders, intermediate shaft, steering columns, and pumps. Drive-by-wire systems are gaining popularity, as the demand for off-road vehicles increases. Forklifts, harvesters, tractors, construction and mining equipment, industrial electric vehicles, mowers, utility vehicles, and other off-road vehicles are all using drive-by-wire or x-by-wire technology. In these vehicles, brake-by-wire and steer-by-wire technologies are often employed for parkin...

  Global Drive-by-wire Market: Snapshot To bolster their positions, keen automotive component manufactures are focusing hard on developing technologically superior drive-by-wire technology systems. German multinational, Robert Bosch GmbH, for example, has launched an e-axle drive system that combines transmission, electric motors, and power electronics in one unit to implement drive-by-wire technology. SKF Group, again, has developed electromechanical actuators which are an integral part of drive-by-wire systems. Similarly, ZF Group has developed a clutch-by-wire system for passenger vehicles. Besides product development, main players in the global drive-by-wire market are also charging ahead through strategic acquisitions, partnerships, and divestments. Majorly fuelling the market is the increasing number of legislations and mandates by governments, especially in developed nations of Europe and the U.S., seeking to control polluting vehicular emissions. Drive-by-wire te...