Enjoy complimentary customisation on priority with our Enterprise License!
The Automotive Brake-by-wire Systems Market size is forecast to increase by USD 13.95 billion at a CAGR of 26.91% between 2023 and 2028. The market experiences accelerated growth due to several factors, notably the increasing electrification in vehicles, growing demand for lightweight vehicles, and the enhanced effectiveness and efficiency of brake-by-wire systems. These elements collectively drive market expansion, reflecting the evolving trends and innovations in the automotive industry, including automotive steer-by-wire systems. With the shift towards electrification, demand for lighter vehicles, and advancements in brake-by-wire technology, the market anticipates continued growth opportunities, catering to evolving consumer preferences and industry standards. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
The market for advanced braking systems, including Brake-By-Wire (BBW) technology, is experiencing robust growth due to the escalating demand for safety features in both passenger and commercial vehicles. BBW systems replace conventional hydraulic and mechanical linkages with electronic controls, thereby enhancing braking precision and responsiveness. Integrated with Electronic Stability Control (ESC), Anti-lock Brake Systems (ABS), and Traction Control System (TCS), BBW technology optimizes brake force distribution through Electronic Brake-force Distribution (EBD). In the context of heavy-duty vehicle braking systems, BBW technology offers substantial benefits, such as improved efficiency and reduced wear and tear on braking components. With regenerative braking capabilities, these systems efficiently convert kinetic energy into usable energy, particularly advantageous for hybrid and electric heavy-duty vehicles.
As car manufacturers continue to prioritize vehicle safety and control, the adoption of advanced driver assistance systems (ADAS), including heavy-duty vehicle BBW systems, is poised for significant growth. Our researchers have analyzed the market dynamics with 2023 as the base year, identifying key drivers, trends, and challenges to help companies refine their marketing strategies and gain a competitive edge.
Increasing electrification in vehicles is notably driving the market expansion. Modern vehicles are equipped with various electronic components to improve functionality and reduce overall weight. Electrification of various mechanical systems has allowed automakers to increase efficiency, limit emissions and improve performance. In addition, customers prefer vehicles that support advanced safety systems. Electrification is a major driver of technological development in the automotive industry.
Furthermore, automakers are integrating artificial intelligence in vehicles into safety systems that can recognize driver gestures and activate various functions. Additionally, safety features such as adaptive cruise control and emergency braking systems use low-level in-vehicle artificial intelligence to improve driving safety. With the increasing prevalence and reliance of vehicles on electronics, the brake-by-wire system of an automobile has become one of the most important electronic components of the vehicle.
A growing focus on improving the durability of electronic braking systems is the primary trend shaping the market growth. Over the past two decades, numerous systems and technologies have been developed for automotive applications. However, its reliability and longevity have always been the primary concerns of market players. As such, automotive system designers and vehicle manufacturers are beginning to work to improve the reliability and durability of such systems/technologies. Recent years have seen an increase in spending and investment in increasing reliability and efficiency.
Furthermore, technical issues and malfunctions associated with such electronic braking systems regularly lead to vehicle recalls. At worst, such problems have also led to occasional crashes and accidents on the road. Additionally, there is increasing work on developing advanced algorithms that form the basic design of such systems. As the reliability of braking systems, such as brake-by-wire systems increases, their acceptance is expected to increase during the forecast period. This will propel the growth of the market during the forecast period.
Technical issues are the major challenges that affect market growth. The use of electronic components and subsystems makes the system vulnerable to technical issues and malfunctioning, which can pose a challenge to market growth. The global automotive industry is witnessing the growing adoption of x-by-wire systems such as steer-by-wire, drive-by-wire, and brake-by-wire. All these technologies are designed to make future automobiles lighter, safer, and energy efficient. The brake-by-wire system has also suffered setbacks in the racing industry.
Consequently, such technical issues and system malfunction problems are pushing automakers to have a stand-by brake system in place. However, it would again lead to weight addition and space issues. Thus, technical issues reducing the reliability and adoption of brake-by-wire systems can become a major challenge for the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing rapid growth across passenger vehicles and commercial vehicles segments. These systems, integrated with advanced technologies like Electronic Stability Control (ESC), anti-lock brake systems (ABS), and Traction Control System (TCS), offer enhanced safety and control on the road. By eliminating the need for hydraulic or mechanical linkages, BBW systems revolutionize the traditional braking system, efficiently converting kinetic energy into thermal energy while optimizing the braking process for vehicle occupants.
The electric segment is estimated to witness significant growth during the forecast period. The increasing adoption of advanced electronic systems in hybrid, all-electric, and plug-in hybrid vehicles is propelling the growth of the market. These vehicles offer environmental advantages, driving their sales and the demand for advanced braking systems. Government incentives, infrastructure improvements, and a focus on reducing carbon footprints globally contribute to this growth.
Get a glance at the market contribution of various segments Download the PDF Sample
The electric segment was the largest segment and was valued at USD 2.59 billion in 2018. Additionally, benefits such as reduced ownership costs, noise reduction, and dwindling fossil fuel resources fuel demand. Major automakers are integrating regenerative braking systems in their hybrid/EV models to enhance energy efficiency, further augmented by brake-by-wire systems. Key players like Toyota, Lexus, and INFINITI offer vehicles equipped with these systems, promoting their energy-efficient operation. This trend is expected to drive significant growth in the electric segment of the market.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Emerging markets such as India and China are driving market growth in this region. Moreover, advanced automotive markets such as Japan and South Korea contribute to the market growth in the region. This is because automakers such as Infiniti, Toyota, and Lexus are selling a large number of hybrid passenger cars with brake-by-wire systems. The brake-by-wire system market is expected to grow during the forecast period as other automakers are expected to offer advanced braking systems. Hence, such factors are expected to drive market growth in this region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is witnessing a shift from traditional braking systems to brake-by-wire (BBW) systems, offering advanced technology and improved braking performance. These systems, comprising electronic sensors, actuators, and a control unit, enhance driver's input and brake timing. With the rise of autonomous vehicles and electric automobiles, there's a growing demand for electronic control unit (ECU)-controlled Brake Actuators and wheel speed sensors. Regulations and technological advancements drive innovation, catering to diverse vehicle types, including passenger automobiles, commercial vehicles, and off-highway vehicles.
Furthermore, the market is evolving with innovations like Electro-Hydraulic Brakes (EHB) and Electro-Mechanical Brakes (EMB). These systems replace traditional hydraulic components with electric actuators, enhancing vehicle control and safety. With the rise of Electric Vehicles (EVs) and self-driving technology, demand is growing, driven by factors like urbanization and consumer demand. Pressure Sensors and steering wheel angle sensors ensure efficient braking, even in inclement weather. Additionally, advancements like Generative Electric Parking Brakes offer enhanced compatibility and traction control for various vehicle types.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
168 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 26.91% |
|
Market Growth 2024-2028 |
USD 13.95 billion |
|
Market structure |
Concentrated |
|
YoY growth 2023-2024(%) |
25.01 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 55% |
|
Key countries |
US, China, Japan, Germany, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Akebono Brake Industry Co. Ltd., Brembo Spa, Continental AG, Haldex AB, Hitachi Ltd., HL Mando Co. Ltd., Knorr Bremse AG, KSR International Inc., SFS Group AG, Stellantis NV, Toyota Motor Corp., Veoneer HoldCo LLC, ZF Friedrichshafen AG, and Robert Bosch GmbH |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
