The global drive by wire market size was US$ 26.2 billion in 2021. The global drive by wire market is forecast to grow to US$ 50.5 billion in 2030, registering a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030.

Drive by wire refers to the collection of electronic systems that replaces traditional controls. For instance, drive by wire uses electronic systems instead of cables or hydraulic pressure to fuel the engine and control steering.

COVID-19 Impact Analysis

The sudden onset of the COVID-19 pandemic wreaked havoc among various economies. During the lockdown, various manufacturing units had no choice but to halt the activities due to stringent government regulations and challenges associated with travel. The import and export of automotive components were adversely impacted, which in turn affected the global drive by wire market. 

Consumer demand for automobiles and other luxury products decreased. As a result, market players witnessed significant challenges in maintaining the growth rate. However, the market will grow during the study period due to growing awareness about the benefits of hybrid and electric vehicles. 

Factors Influencing the Market Growth

• The growing trend of electrification of vehicles is forecast to drive the market growth. In addition, throttle-by-wire, steer-by-wire, and brake-by-wire are gaining rapid popularity as they help in enhancing vehicle performance and reducing vehicle weight. Thus, the global drive-by wire market will grow. 
• The global drive by wire market is forecast to gain traction, owing to the increasing demand for autonomous vehicles. Autonomous vehicles offer enhanced safety and promise lower fuel consumption. 
• Moreover, the stringent norms related to harmful gas emissions are forecast to benefit the global drive by the wire market. 
• The high cost of drive by wire systems may hamper the growth of the overall market. 
• The increasing initiatives towards smart cities and growing demand for AI in home security systems will offer ample growth opportunities for the global drive by wire market.

Geographic Analysis

The Asia Pacific region will be the fastest-growing region in the global drive by wire market. The region, mainly China, is considered a hub for automotive production. Moreover, a shift in consumer preference and rising disposable income will benefit the market players. In addition, the increasing demand for premium and luxury vehicles and the strict emission norms will boost the growth of the market. 

The growing pollution and urbanization in the countries like India are forecast to be another factor propelling the region's growth in the global drive by wire market. 

Competitors in The Market

• Continental AG
• Infineon Technologies AG
• Hitachi, Ltd.
• Robert Bosch GmbH
• Ficosa Internacional SAA
• KONGSBERG
• ZF Friedrichshafen AG
• DENSO CORPORATION
• NEXTEER AUTOMOTIVE GROUP LIMITED
• Curtiss-Wright Corporation
• Other prominent players

Market Segmentation

The global drive by wire market is segmented on the basis of Application, Component, Vehicle Type, and Region. 

By Application

• Throttle by Wire
• Shift by Wire
• Brake by Wire
• Park by Wire
• Steer by Wire

By Component

• Actuator
• Electronic Control Unit (ECU)
• Engine Control Module (ECM)
• Electronic Throttle Control Module (ETCM)
• Electronic Transmission Control Unit (ETCU)
• Feedback Motor
• Parking Pawl
• Sensors
• Others

By Vehicle Type

• Passenger Car
• Commercial Vehicle
• Electric Vehicle
• Off-Highway Vehicles

Insight by Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America