About the Automotive Steer-By-Wire (SBW) System 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.
Technavio’s analysts forecast the global automotive steer-by-wire (SBW) system market to grow at a CAGR of 28.49% during the period 2016-2020.
Covered in this report
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 market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Steer-By-Wire (SBW) System Market 2016-2020
Technavio recognizes the following companies as the key players in the global automotive steer-by-wire (SBW) system market: Nissan, Bosch Automotive Steering, JTEKT, thyssenkrupp, and Paravan.
Commenting on the report, an analyst from Technavio’s team said: “A 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.”
According to the report, a key driver of SBW technology is Increased fuel efficiency (due to reduced weight of vehicle post SBW implementation).
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).
Nissan, Bosch Automotive Steering, JTEKT, thyssenkrupp, Paravan