PUBLISHER: Grand View Research | PRODUCT CODE: 1553952
PUBLISHER: Grand View Research | PRODUCT CODE: 1553952
The global automotive x-by-wire systems market size was estimated at USD 22.96 billion in 2023 and is projected to grow at a CAGR of 14.4% from 2024 to 2030. The emergence of advanced driver assistance systems and the increasing levels of vehicle automation is expected to increase the demand for automotive x-by-wire systems. However, currently, these systems have low penetration rates in the automotive market. The focus of automobile manufacturers on increasing fuel efficiency and reducing the emission level of the vehicle is likely to boost the x-by-wire system market in the future.
Drive/X-by-Wire technology substitutes traditional robotic connections with electrical components like control units, motors, actuators, sensors, and batteries. Implementing these systems reduces vehicle weight, which not only enhances fuel efficiency but also lowers emissions. Additionally, sensors, motors, and actuators enable precise and swift responses to driver inputs, thereby improving vehicle performance. Looking ahead, the automotive industry is expected to prioritize fuel economy and emissions, which will drive the global X-by-wire systems market. The rising demand for hybrid electric vehicles presents a significant opportunity for Drive/X-by-wire systems, given their easier integration and ability to extend the range of electric vehicles due to their lightweight nature.
Global Automotive X-by-Wire Systems Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global automotive x-by-wire systems marketreport based on vehicle, type and region.