Market Trends of X-by-wire System Industry
This section covers the major market trends shaping the X-by-wire System Market according to our research experts:
Throttle-by-wire System is Expected to Dominate the Market During the Forecast Period
The adoption rate of electric vehicles is increasing globally. With growing awareness about the ADAS features, key manufacturers that operated only in high-end luxury cars are now entering the entry-level models market to attract customers. Such instances are expected to boost the requirements for throttle-by-wire systems in vehicles.
Throttle-by-wire is gaining popularity due to several benefits over traditional mechanical systems, such as eliminating binding problems in mechanical linkages, improving fuel economy, deploying a modular system, and allowing the ECU to integrate torque management with cruise, traction control, and stability control.
Many automakers, including Audi, Continental, Ford, and Bosch, are focusing on commercializing the autonomous car idea where throttle-by-wire systems play a crucial role in controlling electric motors by sensing the accelerator pedal input and sending commands to the power inverter modules.
In November 2021, China's Great Wall Motors unveiled its intelligent chassis-by-wire based on Smart Coffee System 2.0 based on GEEP 4.0, a completely new electronic and electrical architecture where five core chassis systems related steer-by-wire, brake-by-wire, shift-by-wire, throttle-by-wire, and suspension-by-wire are integrated. It controls automotive motions in the principle of six degrees of freedom.
In line with the growth in autonomous cars and technological developments, governments are also taking necessary steps to maintain the demand in the market. For instance,
From 2020 onward, all newly manufactured cars in the United States should be installed with an automatic braking system, a lane departure warning system, and a parking assistance system. This factor is expected to fuel the market for throttle-by-wire systems.
Based on such developments, the throttle-by-wire segment of the market is expected to witness decent growth over the forecast period.
North America Likely to Play a Significant Role in Market Development
North America is anticipated to hold the largest market share during the forecast period. The rising demand for electric vehicles, especially advanced self-driving cars, is anticipated to boost the market's growth over the forecast period. The market for x-by-wire systems in North America is already well-established, with a high penetration rate.
Several companies are also adopting partnerships, collaborations, and other strategies to stabilize their position in the market.
- In March 2021, Motional announced its plans to use the all-electric Hyundai IONIQ 5 as the vehicle platform for its next-generation Robo taxi. Through its partnership, the company could allow consumers in select markets to book a Motional Robo taxi through the Lyft app starting in 2023. Motional's IONIQ 5 would be equipped with Level 4 autonomous driving capabilities, thus creating opportunities for steer-by-wire systems.
- In June 2021, Toyota Mobility Foundation (TMF), Energy Systems Network (ESN), and the Indiana Economic Development Corporation (IEDC) partnered with May Mobility to launch a free autonomous shuttle service in Central Indiana. Autonomous vehicles are expected to create demand for the x-by-wire system in the future.
Such factors are likely to boost the demand for x-by-wire systems in North America. The use of x-by-wire systems is also growing significantly in the Asian-Pacific region due to increased consumer purchasing power, preference for better safety measures, and the need for higher fuel efficiency in the vehicle.
