X-by-wire systems are similar to that of fly-by-wire systems used in the aviation industry, and are also referred to as drive-by-wire and steer-by-wire systems. X-by-wire market technology involves use of electronic components for performing basic functions of a vehicle that were traditionally done by use of mechanical linkages. Components such as intermediate shafts, coolers, vacuum servos, cylinders, pumps, and steering column are eliminated from the vehicle and are replaced with electronic or electro-mechanical systems.
Rising demand for light weight, fuel efficient, and low emission vehicles in developed and in some developed economies is a major factor driving growth of the global market. Also, increasing use of these technologies in vehicles used in various industries such as construction and mining, warehouse management, and in agriculture is another factor anticipated to boost growth of the global market over the forecast period. Moreover, prominent automotive original equipment manufacturers (OEMs) adopting x-by-wire in production of vehicles is another factor projected to fuel growth of the target market to a significant extent. But, high costs associated with wide scale adoption of x-by-wire systems and comparatively high energy requirements of x-by-wire technologies are other factors expected to hamper growth of the global market over the forecast period.
The global x-by-wire market report has been segmented on the basis of technology, vehicle type, and region. On the basis of region, the global x-by-wire market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global x-by-wire market and is expected to maintain its dominant revenue contribution over the forecast period. This can be attributed to high adoption rate of x-by-wire technologies and presence of prominent players in the region. The market in Europe accounted for second-highest revenue contribution in the global market in 2016, owing to increasing adoption of x-by-wire systems by prominent automotive original equipment manufacturers (OEMs) in countries in the region. Also, the market in Asia Pacific is projected to register highest CAGR of XX.X% over the forecast period, due to growing demand for light weight, fuel efficient, and low emission vehicles and increasing disposable income in emerging economies such as China and India.
Prominent players in the global x-by-wire market include Continental AG, Kongsberg Automotive, Curtiss-Wright Corporation, ZF Friedrichshafen AG, Nissan Motor Co., Ltd., Robert Bosch GmbH, SKF AB, Denso Corporation, and Ficosa International SA.