The x-by-wire system is a revolutionary technology in automotive industry used in electro-mechanical or electrical systems to perform vehicular functions which were previously achieved by mechanical connection. Its product life cycle is in growth stage and expected to witness profitable market gains during the forecast period. According to the report by Future Market Insights, the global x-by-wire sales is slated to touch a volume of 395,000 ‘000 units by the end of 2027. The global x-by-wire market is expected to register a moderate CAGR of 13.8% during the forecast period. Following insights have been excerpted from an exclusive interview between a journalist and market analyst associated with Future Market Insights.
Considering your observations over the recent past, what factors have instrumented the evolution of x-by-wire as a marketable commodity, till date?
Growing construction sector has attributed to surging demand for heavy construction equipment. With the growing adoption of innovative technologies in vehicles, manufacturers are highly likely to upgrade construction equipment by x-by-wire technology in order to meet futuristic demand of end users. Moreover, increasing investment in reinforcing military power owing to particular country’s security is expected to encourage integration of innovative technologies in military vehicles globally. Thereby, expected to have positive impact on x-by-wire market in the near future.
According to you, what’s most bankable presumptive scenario for the expansion of the global x-by-wire market?
Nowadays, automotive sector is witnessing robust growth across the globe. Manufacturers are strongly focusing to launch innovative vehicles embedded with latest technologies in order to gain competitive advantage in the market. With the arrival of electric and hybrid vehicles, x-by-wire market players are anticipated to account for potential opportunities in these segments. The gradual shift in consumer preference from conventional vehicle to electric and hybrid vehicles is expected to surge demand for x-by-wire technology during the forecast period.
According to your analysis, which x-by-wire technology will emerge as a technology-in-demand?
As far as automotive sector is concerned, steer-by-wire technology is expected to witness robust growth across the globe. Some of the major companies like Audi and Nissan have implemented this technology in their automobiles. In 2013, Nissan has introduced steer-by-wire technology in its model Q50 sedan for the first time. However, due to certain drawbacks, company has to recall its technology in 2014-2016. Thus, other market players launched their models integrated with front steer with rear steer-by-wire technology system which unites with drive-by-wire technology at rear wheels.
Where do you think market player will achieve significant growth in automotive production?
Premium and luxury vehicles are expected to account for majority of value share in x-by-wire market. However, automaker are anticipated to introduce such advance system in economical and mid-sized car in the near future. Europe based automotive manufacturers such as Continental AG, Kongsberg Automotive, ZF Friedrichshafen AG, Ltd., Robert Bosch GmbH, SKF AB and Ficosa International SA are expected to account for major values share in premium and luxury cars production. Other companies like Curtiss-Wright Corporation, Nissan Motor Co. and Denso Corporation among others are likely to witness significant opportunities.
As per FMI insights, which technology will witness potential growth in automotive sector?
Growing middle class population coupled with the increasing purchasing power is likely to increase demand for mid-sized cars. Thereby, x-by-wire technology providers are expected to achieve substantial growth in this segment during the forecast period. Technologies such as shift-by-wire, brake-wire and throttle-by-wire systems are likely to witness potential growth in the near future.
According to you, will Asia-Pacific excluding Japan (APEJ) continue to represent the most lucrative market place for x-by-wire?
APEJ is identified to have the highest penetration of automotive. Growing population in developing countries like India and China has led to increase production of mid-sized and economic cars. With the increasing disposable income of consumers, rise in sales for commercial vehicles and passengers is anticipated in this region. In addition, consumer’s preference shifting towards premium and luxury vehicles coupled with developing transport infrastructure is likely to strengthen automotive industry. Thus, in return, sales of x-by-wire system is likely to attain marginal gains in the near future.
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