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Steer Well with Steer-By-Wire Systems to reach USD 1,869.14 million by 2027
• The X-by-wire system market is expected to reach USD 1,869.14 million by 2027, registering a CAGR of about 32.25% during the forecast period, 2022 – 2027
• The major markets for these global automotive steer-by-wire systems are likely to be China, Germany, the United States, and Japan
• In November 2021, the German automobile manufacturer, Volkswagen, announced to build a new state-of-the-art car factory in Wolfsburg. The main aim of the factory is to produce high-tech, advanced automated driving features in cars, expected to be equipped with X-by-wire features. The first electric advanced car to be produced is Trinity to counter Tesla model 3. The plant produces approximately 250,000 cars annually.
Cutting Edge drivers in Global Automotive Steer-by-Wire System Market
• Emergence of advanced driver assistance systems
• Increasing levels of automation in vehicles
• Rising preference for advanced safety and comfort systems
• Manufacturers focus towards increasing fuel efficiency and reducing the emission level
Scope of Electric Mobility using X-By-Wire Systems
The advent of technological innovations and increasing competition in the automotive industry, owing to electric mobility, there has been a surge of vehicle safety solutions.
• With a vision for electric mobility, Nissan Motor Corp unveiled its plans to invest USD 17.6 billion over the next 5 years from 2021, to offer more battery powered vehicles. Furthermore, the company aims to launch about 23 electrified vehicles by 2030.
• With a high focus on electric mobility, it is imperative that the AUDI AG company transitions toward X-by-wire systems for all the electric vehicles that are expected to be introduced by 2025.
• The Chinese government is focusing on autonomous vehicles along with electric mobility. The government announced that the first national standard for autonomous vehicles would come into force in March 2022
Read our related report on: Wire to Board Connector market
Partnerships Wiring Manufacturers & Technology Suppliers
• On October 23, 2021, Schaeffler Technologies became the sponsor and supplier of drive-by-wire technology to the world's first autonomous race (Indy Autonomous Challenge) held in Indianapolis Motor Speedway, United States. The technology is likely to be used in mobility solutions in various automobiles across the world.
• In January 2021, South Korean automotive component manufacturing company Mando Corporation unveiled its X-by-wire Technology, which may provide the automotive solution soon. The company has invented an integrated module of "X-by-wire" technology comprised of various types such as BbW (Brake-by-wire) and SbW (Steer-by-Wire).
Elite Enterprises in the League of Global Automotive Steer-by-Wire System Market
INFINEON TECHNOLOGIES AG
• Infineon majorly focuses on the integration of functionality with its semiconductor solutions, coupled with the technologies that improve fuel efficiency, reduce emissions, and lower operational costs of automobiles.
• In line with the focus on new product development, the company invested a total of EUR 1,448 million towards Research and Development (R&D) expenses in FY2021. Also, automotive was the highest revenue-generating segment of Infineon, at 44% in FY2021
AUDI AG
• Audi invested a total of EUR 3,662 million into R&D (R&D) activities, accounting for notable revenue share, owing to its long-term vision for electric-only mobility.
• With their Roadmap E vision, the company plans to introduce more than 30 electrified vehicle models into the market by 2025, of which around 20 vehicles will be all-electric.
TORC ROBOTICS
• Torc primarily produces unmanned and autonomous technology that retrofits the existing machinery with their products.
• In January 2022, Torc Robotics has announced its expansion to Austin to advance the commercialization of autonomous trucks. The Austin facility is spread over 21,000 sq. ft.
