|By Business Wire||
|January 13, 2017 11:03 AM EST|
Technavio analysts forecast the global automotive brake-by-wire (BBW) systems market to grow at a CAGR of almost 44% during the forecast period, according to their latest report.
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Technavio has published a new report on the global automotive BBW systems market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global automotive BBW systems market for 2017-2021. The analysts have considered a combination of top down and bottom up approaches, wherein Technavio’s in-house databases have been used to arrive at the market size of the global automotive brake-by-wire systems market.
The global automotive brake-by-wire systems market is expected to grow to 12.29 million units by 2021, with more than 40% of the incremental growth expected to be from EMEA. Electric vehicles comprise the most important product segment, occupying almost 60% of the global market.
Mercedes-Benz was the first automotive manufacturer to introduce the brake-by-wire concept in gasoline powered passenger engines with the sensotronic brake control (SBC) systems. Currently, Robert Bosch has the largest global presence in the BBW systems market. The company has incorporated the new electromechanical brake booster, the iBooster, for the commercial production of their hybrid electric vehicles (HEVs) and electric vehicles (EVs).
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Technavio analysts highlight the following three factors that are contributing to the growth of the global automotive brake-by-wire systems market:
- Light-weighting to reinforce design philosophy of BBW
- BBW systems provides accurate, precise, and quick response
- HEVs and EVs to provide a fertile environment for BBW systems
Light-weighting to reinforce design philosophy of brake-by-wire
“Light-weighting has been clearly documented to improve drive dynamics, fuel consumption, and emissions of vehicles. Fundamentally, the adoption of a by-wire technology such as BBW is expected to result in the increasing adoption of electro-mechanical and electronic parts, which are very light. This results in a significant amount of weight reduction, thereby improving the overall performance of the automotive,” says Siddharth Jaiswal, one of the lead analysts at Technavio for automotive electronics research.
Some of the major strategies followed to achieve light-weighting are component redesign, reduction in the total number of parts in a car, manufacturing process innovation, and substitution of base materials. Manufacturers use the data collected by aviation and aerospace industries regarding light-weighting and have extrapolated that to automotive manufacturing processes. The advantages provided by light-weighting due to the use of BBW systems will be a major driver of the market through the forecast period.
BBW systems provides accurate, precise, and quick response
The popularly used mechanical systems and their measurement arrangements are susceptible to wear and tear, and their accuracy will decrease considerably with time. Since all mechanical systems work on some form of contact with other systems, there is no precise way to eliminate their shortcomings, which limits their use.
Brake-by-wire systems are the perfect replacement for these mechanical systems as they are not susceptible to such wear and tear. Sensors like the magnetic hall-sensors work by detecting a change in magnetic field, and optics-based sensors work by detecting the interference of various beams of light. These systems do not require mechanical or physical contact and are more efficient in the long run. Such feature imparts more accuracy, precision, and better response time for brake-by-wire systems, which pushes for their increased adoption.
HEVs and EVs to provide a fertile environment for BBW systems
The market for HEVs and EVs is expected to show strong growth during the forecast period due to a variety of factors like the rise in oil prices, increased awareness driving the adoption of eco-friendly technologies, and increasing range and reliability of these vehicles. Due to a high degree of powertrain electrification in HEVs and EVs, they represent a fertile ground for the proliferation of by-wire technologies like brake-by-wires.
“A lot of the ecosystem is already present for brake-by-wire, and adoption of powertrains can be achieved with ease. Thus, an expected high growth rate for both HEVs and EVs signals a high growth opportunity for brake-by-wire systems in the automotive industry. Furthermore, the added benefits provided by light-weighting, the charge-distance ratio or charging yield for HEVs and EVs is also expected to increase. These factors will act as an added incentive for fitting brake-by-wire systems in HEVs and EVs,” says Siddharth.
Browse Related Reports:
- Global Level 3 Autonomous Vehicle Market 2017-2021
- Global Automotive Power Tailgate System Market 2017-2021
- Global Automotive Electronic Parking Brake Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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