According to a MarketsandMarkets research report, “Drive by Wire Market by Application, Sensor, Vehicle, Component & Region - Global Forecast to 2025”, the Drive by Wire Market is primarily driven by the increasing demand for vehicle safety, comfort, and performance with lower emissions. The Drive by Wire Market is projected to grow at a CAGR of 8.86% from 2018 to 2025. From a market size of $19.12 billion in 2018, it is projected to reach $34.63 billion by 2025.
- Shift-by-wire is estimated to be the largest segment in the Drive by Wire Market
- Brake pedal sensor is estimated to have the fastest growth in the Drive by Wire Market
- Asia Pacific is estimated to be the leading market for the Drive by Wire Market
- North America and Europe are the largest markets for passenger cars, particularly for premium cars (C segment and above).
- Bosch (Germany), Continental (Germany), ZF (Germany), Infineon (Germany), Nexteer (US), CTS (US), Ficosa (Spain), Kongsberg (Switzerland), Hitachi Automotive (Japan), and Curtiss-Wright (US). are among a few major players in the Drive by Wire Market.