X-by-Wire Systems Market predicted to grow exponentially by 2024
Date: 2018-01-10   Author: Ronak Bora  Category: #technology

X-by-Wire Systems Market predicted to grow exponentially by 2024

The Global X-by-Wire Systems Market industry is characterized by the ongoing R&D and related component developments for better consumer satisfaction. The requirement of heavy investments for such activities will present a considerable challenge to the X-by-wire market players. Lack of concern for fuel-effectiveness in various emerging economies and ineffective fuel-efficiency standards in developed countries will challenge the industry growth through 2024.

X-by-Wire Systems Market size is expected to witness a healthy growth rate over the coming years. Rising demand for better fuel efficiency, enhancements in automotive electronics, increased safety, and requirement to meet the regulatory compliances will fuel the overall industry demand.

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The utilization of X-by-Wire Systems technologies makes the vehicle lighter by reducing the overall weight of mechanical components, boosting the overall efficiency and reducing emissions. Moreover, the usage of motors, actuators, and sensors helps the driver to provide a precise, quick, and accurate response, which will enhance the overall vehicle performance. These factors will favor the X-by-wire systems market share over the forecast timeframe.

 Rising concerns regarding emission levels and fuel economy will draw huge investments among automotive industry participants. Increasing regulatory amendments to reduce environmental impacts will positively influence the overall X-by-wire systems market growth from 2016 to 2024. The technology is used in electro-mechanical systems, which includes human-machine interfaces such as pedals and steering fuel emulators.

 Increasing utilization of these systems is expected to eradicate conventional mechanical components in vehicles, such as steering column, belts, intermediate shafts, vacuum servos, master cylinders, and servos, fueling the industry growth over the forecast period.

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Next-generation vehicles utilize the technologies, which include CAN (Controller Area Network) and LIN (Local Interconnect Network) for transmitting and receiving the vehicle diagnostic information. X-by-wire systems require privacy-centric data bus with higher bandwidth and inherent tolerance for any defects. Architectures, such as FlexRay and Time-Triggered Protocol (TTP), are increasingly adopted by automakers, which present potential growth avenues over the forecast timeframe. TTP ensures proper transmission of important messages on the data bus, increasing the importance of these technologies. The integration of next-generation semiconductors and the intelligence transferred on data buses will provide a significant development platform for X-by-wire systems market participants over the coming years.

Europe X-by-wire systems market size is dominating owing to the initial advent of these systems across the region. Asia Pacific is expected to display significant growth rates owing to rising purchasing power of the customer, urge of making the vehicle fuel-efficient, better living standards, and preference for enhanced privacy measures. Emerging countries that include Mexico, Brazil, and India are projected to register exponential growth rates owing to the increasing need for these technologies by automakers.

 Industry participants in the X-by-wire systems market are SKF group, LORD Corporation, Danaher Motion, RLP Engineering, Continental AG, ZF TRW, TORC Technologies, Curtis Wright Corp., Citroen and Infineon Technologies. Rising demands for hybrid vehicles will present considerable growth opportunities for manufacturers owing to its lightness and advanced application characteristics.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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