Global Automotive X-By-Wire Systems Market 2018-2022
About this market
Prognostics is the newly evolved form of automotive remote diagnostics with an intuitive software interface, which makes the work of the service technician easier and simpler. Though a similar technology with a different term 'preventive maintenance' had existed for more than a decade, General Motors was the first to launch prognostic technology through its OnStar 4G LTE connectivity platform in 2015. The penetration of remote diagnostics and prognostics will increase during the forecast period. These innovations will propel the growth of the automotive X-ray wire systems market. Technavio ‘s analysts predict this market to grow at a CAGR of close to 8 % by 2022.
Benefits and advantages associated with by-wire systems
The advantages and benefits associated with by-wire systems are expected to drive the growth of the global automotive x-by-wire systems market during the forecast period. XBW systems are advanced in terms of effectiveness, system design, and efficiency when compared to conventional systems, just like any other technology that has emerged and embraced in the global market.
Cost impact on the maintenance of vehicle with by-wire systems
Mechanical components used in automobiles, such as braking, throttle, and steering systems are being transformed into electro-hydraulic, electro-mechanical, or all electronic. A rise in the usage of electronic components in different components increases the development and maintenance cost of a vehicle. This is expected to be a major challenge in the automotive X-by-wire systems market.
For the detailed list of factors that will drive and challenge the growth of the automotive x-by-wire systems market during 2018-2022, view our report.
The automotive x-by-wire systems market appears to be fragmented owing to presence of several companies and the competitive environment is quite intense with all companies striving to improve their market position. Factors such as the benefits and advantages associated with by-wire-systems and remote diagnostics for advanced braking systems are impacting the growth of the market. Some of the top companies in the market are Continental, Hitachi, Nexteer Automotive, SKF, and ZF Friedrichshafen.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities. Companies in the automotive x-by-wire systems market are focusing on launching remote diagnostics systems such as prognostics technology to monitor the health of a vehicle’s component.’
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