Automotive Steer-by-wire Market – Trends, Size, COVID19 Impact Analysis and Forecast 2021

June 21 08:32 2021
Automotive Steer-by-wire Market - Trends, Size, COVID19 Impact Analysis and Forecast 2021
The study provides a thorough analysis of the market. It accomplishes this through in-depth qualitative insights, historical data, and credible market size predictions. The report’s estimates are based on a well-established research methodology and assumptions.

Control-by-wire technology is an automated alternative to traditional mechanical and hydraulic steering systems, in which only electronic components are used to steer a vehicle. The steer-by-wire system eliminates multiple mechanical components, including the steering shaft, column, and gear reduction mechanism, resulting in a lighter vehicle with improved performance, safety, and dependability. Steer-by-wire technology is a step forward in electric power steering that uses an electric motor to apply steering force to the rack.

The global automotive steer-by-wire market is primarily driven by vehicle manufacturers’ growing concern about reducing vehicle weight to improve vehicle efficiency. Furthermore, regulatory bodies in several countries have pushed carmakers to include electronic power-assisted steering, which is expected to drive the worldwide automotive steer-by-wire market forward. Another major driver of the worldwide steer-by-wire market is the rise in vehicle automation. As a result, the worldwide automotive steer-by-wire market is primarily driven by the implementation of rigorous emission requirements, duties to have advanced driver assistance systems, raising concerns about in-car safety, and the development and inclusion of sophisticated vehicle technologies.

Full report with table of content: https://www.credenceresearch.com/report/automotive-steer-by-wire-systems-market

A fundamental obstacle limiting global automotive steer-by-wire technology is the high risk of malfunction, which could lead to accidents and, in some cases, fatal injuries. Because steer-by-wire technology relies on a computerized system and electronic sensors, the chances of a component malfunction are increased.

The market for automotive steer-by-wire can be divided into three categories: component, vehicle type, and geography. The global automotive steer-by-wire market can be divided into seven areas based on components. Two sensors make up the steer-by-wire system: one for the handwheel angle sensor and the other for the pinion angle sensor. A steering actuator is also present, which applies steering effort based on the driver’s steering force. A central control unit controls the operation of the system’s components.

The global automotive steer-by-wire market can be divided into passenger and commercial vehicles based on vehicle type. During the projected period, steer-by-wire technology is projected to become commonplace in passenger automobiles, as electric power-assisted steering is predicted to become essential in several countries. Furthermore, passenger vehicles are quickly adopting autonomous technologies, which is anticipated to accelerate the adoption of steer-by-wire technology in these vehicles.

The global automobile steer-by-wire market can be divided into five distinct regions based on region. Auto manufacturers in North America and Europe quickly implement advanced vehicle technologies to improve vehicle safety, performance, and emissions. As a result, these regions now control a significant portion of the global automobile steer-by-wire industry.

· Danfoss, JTEKT NORTH AMERICA, ZF Friedrichshafen AG, LORD Corporation, Eaton, KYB Corporation, NSK Ltd., and Nexteer Automotive Corporation are key participants in the worldwide automotive steer-by-wire market.

· The study provides a thorough analysis of the market. It accomplishes this through in-depth qualitative insights, historical data, and credible market size predictions. The report’s estimates are based on a well-established research methodology and assumptions.

The study is a reputable source of information on:

· Segments and sub-segments of the market

· Market dynamics and trends

· Market size, supply and demand Current trends/opportunities/challenges

· Technological advancements in the competitive landscape

· Analysis of the value chain and stakeholders

· The regional analysis includes the following topics:

· North America is located in North America (U.S. and Canada)

· Latin America is a continent in South America (Mexico, Brazil, Peru, Chile, and others)

· Europe’s Western Front (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)

· Europe’s east (Poland and Russia)

· Asia and the Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)

· Africa and the Middle East (GCC, Southern Africa, and North Africa)

· The report was created using a combination of primary and secondary research (interviews, questionnaires, and observations by seasoned analysts) (which entails reputable paid sources, trade journals, and industry body databases). The research also includes a comprehensive qualitative and quantitative analysis based on information acquired from industry analysts and market players at key points throughout the value chain.

· The report covers a precise analysis of current trends in the parent market, macro and microeconomic data, as well as rules and mandates. The research forecasts the attractiveness of each major segment over the forecast period by doing so.

These are some of the report’s highlights:

· A comprehensive background investigation that includes a review of the parent market

· Market dynamics have shifted dramatically.

· Up to the second or third degree of market segmentation

· The market’s historical, current, and anticipated size in terms of both value and volume

· Recent industry advancements are being reported on and evaluated.

· Key players’ market shares and strategies

· New specialty segments and regional marketplaces are on the rise.

· An objective appraisal of the market’s trajectory

. Recommendations to businesses to help them gain a stronger foothold in the market

Full report with table of content: https://www.credenceresearch.com/report/automotive-steer-by-wire-systems-market

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