The analysts forecast global automotive steer-by-wire (SBW) system market to grow at a CAGR of 28.49% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global automotive steer-by-wire (SBW) system market for 2016-2020. To calculate the size of the market, we have considered the production data for automobiles (passenger cars: luxury, mid-level, and entry-level segments, and light commercial vehicles (LCVs) and the annual production numbers of luxury cars (for a few select OEMs based on our research study).
The following companies are the key players in the global automotive steer-by-wire (SBW) system market: Nissan, Bosch Automotive Steering, JTEKT, thyssenkrupp, and Paravan.
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According to the automotive steer-by-wire system market report key driver of SBW technology is increased fuel efficiency (due to reduced weight of vehicle post SBW implementation).
The global automotive steer-by-wire system market analyst said key market trend is the use of highly redundant systems in SBW technology. Current SBW systems consist of multiple (three) electronic control modules (redundancy) for safety reasons. The reason for the same is simple: in case one of the modules fail, there is always another to act as a backup.
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Global Automotive Steer-By-Wire (SBW) System Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
An automotive steering system acts as a direct line of control and communication between the driver and the vehicle. From being rigid mechanisms, automotive steering systems have evolved to more technologically advanced, reliable, smooth, and easy-to-use systems. Modern automotive steering systems are equipped with advanced safety systems and advanced driver assistance systems (ADAS) such as airbags (in steering wheels), anti-lock braking system (ABS), autonomous cruise control (ACC), and electric power-assisted steering (EPAS) to ensure safe and smooth driving and to provide improved directional stability and agility to the vehicle.
Further, the report states that one challenge that could impact market growth is the safety and security of an SBW system. Safety and security is one of the prime concerns of users and prospective users of any electronic assist system of their vehicle, because the systems are designed to take control of the vehicle's steering system (in the more advanced steering assist versions).
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