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Automotive Steer-by-wire System Market by Technology and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 142
  • SKU: IRTNTR73480
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The automotive steer-by-wire system market share is estimated to reach a value of USD 192.49 million from 2021 to 2026 at a CAGR of 9.15%.

The automotive steer-by-wire system market report offers information on several market vendors, including AB SKF, China Automotive Systems Inc., Danfoss AS, Eaton Corp. Plc, Georgsmarienhutte Holding GmbH, Hitachi Ltd., Hyundai Motor Co., Infineon Technologies AG, JTEKT Corp., KYB Corp., Mando Corp., Nexteer Automotive Group Ltd., Nissan Motor Co. Ltd., NSK Ltd., PARAVAN GmbH, Parker Hannifin Corp., Robert Bosch GmbH, Schaeffler AG, thyssenkrupp AG, and ZF Friedrichshafen AG among others.

The automotive steer-by-wire system market has been broadly categorized into the following demographic segmentations: 

  • Technology - Backup mechanical and pure electronic
  • Geography - APAC, North America, Europe, South America, and Middle East and Africa

One of the key highlights of the automotive steer-by-wire system market research report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.

What will the Automotive Steer-by-Wire System Market Size be During the Forecast Period?

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Automotive Steer-by-Wire System Market: Key Drivers, Trends, and Challenges

The benefits of SBW system is notably driving the automotive steer-by-wire system market growth, although factors such as system reliability issues and acceptance level among consumers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive steer-by-wire system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Steer-by-Wire System Market Driver

  • One of the key drivers supporting the automotive steer-by-wire (SbW) system market growth is the benefits of SBW system.
  • SBW system is an electronic system with enhanced functional accuracy. The major advantage associated with equipping vehicles with SBW systems is that it reduces the weight of the vehicle, which results in increased fuel efficiency. 
  • The SBW system enhances vehicle safety by reducing the crash impact owing to reduced mechanical linkages and components.
  • The growing advancements lead to the modular design of SBW systems, which would lead to faster production. 
  • The incorporation of an active steering system in SBW may lead to vehicle handling optimization and further improve the car's active lane control system. Such benefits will drive the automotive steer-by-wire (SbW) system market growth during the forecast period.

Key Automotive Steer-by-Wire System Market Trend

  • One of the key automotive steer-by-wire system market trends fueling the market growth is the growing implementation of advanced steering systems in vehicles.
  • Automakers and tier-1 suppliers are working in coordination for the commercial implementation of autonomous systems, which is evident with the demonstrations at auto expos and consumer electronic shows. 
  • Nexteer Automotive Co. is one of the popular startups working on SBW systems.
  • In 2021, Nexteer Automotive Co. showcased an SBW with a stowable steering column. During automated driving, the stowable steering column will create additional space for the driver to engage in some other activities.
  • For instance, when the driver's attention is not required, the additional space can be used for reading books, eating food, and other activities. These developments will have a positive impact on the steer-by-wire system market growth during the forecast period.

Key Automotive Steer-by-Wire System Market Challenge

  • One of the challenges limiting the automotive steer-by-wire system (SbW) market growth is the system reliability issues and acceptance level among consumers.
  • Though the SBW system uses an advanced driver assistance system (ADAS) to provide superior steering control and handling characteristics, the safety aspect is still unclear. 
  • The sensors and systems that deliver vehicle automation need to be tuned accurately to avoid false positives.
  • Improper tuning of the autonomous vehicle technology system may create unwanted vehicle stoppages. At the same time, the purpose of the autonomous vehicle technology system is defeated if the technology is tuned to generate only high-risk alerts. This, in turn, will act as a challenge to the automotive steer-by-wire (SbW) system market growth.

This automotive steer-by-wire system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive steer-by-wire system market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive steer-by-wire system market during the forecast period.

Who are the Major Automotive Steer-by-Wire System Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB SKF
  • China Automotive Systems Inc.
  • Danfoss AS
  • Eaton Corp. Plc
  • Georgsmarienhutte Holding GmbH
  • Hitachi Ltd.
  • Hyundai Motor Co.
  • Infineon Technologies AG
  • JTEKT Corp.
  • KYB Corp.
  • Mando Corp.
  • Nexteer Automotive Group Ltd.
  • Nissan Motor Co. Ltd.
  • NSK Ltd.
  • PARAVAN GmbH
  • Parker Hannifin Corp.
  • Robert Bosch GmbH
  • Schaeffler AG
  • thyssenkrupp AG
  • ZF Friedrichshafen AG

 

This statistical study of the automotive steer-by-wire system market encompasses successful business strategies deployed by the key vendors. The automotive steer-by-wire system market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • AB SKF - The company offers automotive steer by wire systems that use smart electro-mechanical actuating unit to intelligently control steering, brakes, gear change and clutch. 
  • Danfoss AS - The company offers automotive steer-by-wire systems that control process operator input into proper command signals, customizable for various levels of operator experience. 
  • JTEKT Corp. - The company offers automotive steer by wire systems that transmit steering wheel operations to the steering unit using electrical signals, improving vehicle responsiveness and feedback on road surface information. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive steer-by-wire system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Steer-by-Wire System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive steer-by-wire system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Steer-by-Wire System Market?

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53% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the automotive steer-by-wire system market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The emerging economies of APAC will facilitate the automotive steer-by-wire system market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic had a negative impact on the regional market. However, the easing of lockdown restrictions, the resumption of operations in the automotive industry, and the initiation of mass COVID-19 vaccination drives helped the regional market recover in 2021. Therefore, the regional automotive SbW system market is expected to witness moderate growth during the forecast period.

What are the Revenue-generating Technology Segments in the Automotive Steer-by-Wire System Market?

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The automotive steer-by-wire system market share growth by the backup mechanical segment will be significant during the forecast period. Primarily, the high-volume sale of automobiles with SBW system equipped with the backup mechanical system is driving the growth of the market in focus. The emergency benefits associated with having a backup mechanical system, in case of malfunction of the SBW system, are pushing automakers to adopt such systems. Moreover, ongoing developments in the automotive drive-by-wire market, where automakers are working on their versions of SBW systems in vehicles, are also propelling the growth of this segment. Such driving factors of the backup mechanical segment will drive the automotive steer-by-wire system (SbW) market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive steer-by-wire system market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Steer-by-Wire System Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 9.15%

Market growth 2022-2026

$ 192.49 million

Market structure

Fragmented

YoY growth (%)

10.98

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 53%

Key consumer countries

US, China, Japan, India, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB SKF, China Automotive Systems Inc., Danfoss AS, Eaton Corp. Plc, Georgsmarienhutte Holding GmbH, Hitachi Ltd., Hyundai Motor Co., Infineon Technologies AG, JTEKT Corp., KYB Corp., Mando Corp., Nexteer Automotive Group Ltd., Nissan Motor Co. Ltd., NSK Ltd., PARAVAN GmbH, Parker Hannifin Corp., Robert Bosch GmbH, Schaeffler AG, thyssenkrupp AG, and ZF Friedrichshafen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Automotive Steer-by-Wire System Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive steer-by-wire system market growth during the next five years
  • Precise estimation of the automotive steer-by-wire system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive steer-by-wire system industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive steer-by-wire system market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Technology

    • 5.1 Market segments
      • Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)
    • 5.2 Comparison by Technology
      • Exhibit 26: Chart on Comparison by Technology
      • Exhibit 27: Data Table on Comparison by Technology
    • 5.3 Backup mechanical - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Backup mechanical - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Backup mechanical - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Backup mechanical - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Backup mechanical - Year-over-year growth 2021-2026 (%)
    • 5.4 Pure electronic - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Pure electronic - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Pure electronic - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Pure electronic - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Pure electronic - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Technology
      • Exhibit 36: Market opportunity by Technology ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 India - Market size and forecast 2021-2026
      • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 AB SKF
              • Exhibit 93: AB SKF - Overview
              • Exhibit 94: AB SKF - Business segments
              • Exhibit 95: AB SKF - Key news
              • Exhibit 96: AB SKF - Key offerings
              • Exhibit 97: AB SKF - Segment focus
            • 10.4 Danfoss AS
              • Exhibit 98: Danfoss AS - Overview
              • Exhibit 99: Danfoss AS - Business segments
              • Exhibit 100: Danfoss AS - Key news
              • Exhibit 101: Danfoss AS - Key offerings
              • Exhibit 102: Danfoss AS - Segment focus
            • 10.5 JTEKT Corp.
              • Exhibit 103: JTEKT Corp. - Overview
              • Exhibit 104: JTEKT Corp. - Business segments
              • Exhibit 105: JTEKT Corp. - Key news
              • Exhibit 106: JTEKT Corp. - Key offerings
              • Exhibit 107: JTEKT Corp. - Segment focus
            • 10.6 Nexteer Automotive Group Ltd.
              • Exhibit 108: Nexteer Automotive Group Ltd. - Overview
              • Exhibit 109: Nexteer Automotive Group Ltd. - Business segments
              • Exhibit 110: Nexteer Automotive Group Ltd. - Key news
              • Exhibit 111: Nexteer Automotive Group Ltd. - Key offerings
              • Exhibit 112: Nexteer Automotive Group Ltd. - Segment focus
            • 10.7 Nissan Motor Co. Ltd.
              • Exhibit 113: Nissan Motor Co. Ltd. - Overview
              • Exhibit 114: Nissan Motor Co. Ltd. - Business segments
              • Exhibit 115: Nissan Motor Co. Ltd. - Key news
              • Exhibit 116: Nissan Motor Co. Ltd. - Key offerings
              • Exhibit 117: Nissan Motor Co. Ltd. - Segment focus
            • 10.8 PARAVAN GmbH
              • Exhibit 118: PARAVAN GmbH - Overview
              • Exhibit 119: PARAVAN GmbH - Product / Service
              • Exhibit 120: PARAVAN GmbH - Key offerings
            • 10.9 Parker Hannifin Corp.
              • Exhibit 121: Parker Hannifin Corp. - Overview
              • Exhibit 122: Parker Hannifin Corp. - Business segments
              • Exhibit 123: Parker Hannifin Corp. - Key news
              • Exhibit 124: Parker Hannifin Corp. - Key offerings
              • Exhibit 125: Parker Hannifin Corp. - Segment focus
            • 10.10 Robert Bosch GmbH
              • Exhibit 126: Robert Bosch GmbH - Overview
              • Exhibit 127: Robert Bosch GmbH - Business segments
              • Exhibit 128: Robert Bosch GmbH - Key news
              • Exhibit 129: Robert Bosch GmbH - Key offerings
              • Exhibit 130: Robert Bosch GmbH - Segment focus
            • 10.11 thyssenkrupp AG
              • Exhibit 131: thyssenkrupp AG - Overview
              • Exhibit 132: thyssenkrupp AG - Business segments
              • Exhibit 133: thyssenkrupp AG - Key news
              • Exhibit 134: thyssenkrupp AG - Key offerings
              • Exhibit 135: thyssenkrupp AG - Segment focus
            • 10.12 ZF Friedrichshafen AG
              • Exhibit 136: ZF Friedrichshafen AG - Overview
              • Exhibit 137: ZF Friedrichshafen AG - Business segments
              • Exhibit 138: ZF Friedrichshafen AG - Key news
              • Exhibit 139: ZF Friedrichshafen AG - Key offerings
              • Exhibit 140: ZF Friedrichshafen AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 141: Inclusions checklist
                • Exhibit 142: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 143: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 144: Research methodology
                • Exhibit 145: Validation techniques employed for market sizing
                • Exhibit 146: Information sources
              • 11.5 List of abbreviations
                • Exhibit 147: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The automotive steer-by-wire system market market growth will increase by $$ 192.49 mn during 2023-2026.
              The automotive steer-by-wire system market market is expected to grow at a CAGR of 9.15% during 2023-2026.
              Technavio has segmented the automotive steer-by-wire system market market by technology (Backup mechanical and Pure electronic) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
              AB SKF, China Automotive Systems Inc., Danfoss AS, Eaton Corp. Plc, Georgsmarienhutte Holding GmbH, Hitachi Ltd., Hyundai Motor Co., Infineon Technologies AG, JTEKT Corp., KYB Corp., Mando Corp., Nexteer Automotive Group Ltd., Nissan Motor Co. Ltd., NSK Ltd., PARAVAN GmbH, Parker Hannifin Corp., Robert Bosch GmbH, Schaeffler AG, thyssenkrupp AG, ZF Friedrichshafen AG are a few of the key vendors in the automotive steer-by-wire system market market.
              APAC will register the highest growth rate of 53% among the other regions. Therefore, the automotive steer-by-wire system market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the automotive steer-by-wire system market market growth are:
              • Benefits of SBW system
              • Growing implementation of advanced steering systems in vehicles
              The automotive steer-by-wire system market market vendors should focus on grabbing business opportunities from the backup mechanical segment as it accounted for the largest market share in the base year.
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