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The automotive steer-by-wire system market is forecast to increase by USD 264.43 million and is estimated to grow at a CAGR of 10.27% between 2023 and 2028. Market growth hinges on various factors, notably the advantages offered by the SBW system, the increasing electrification of vehicles, and the rise of autonomous vehicles. These elements collectively fuel innovation and demand in the automotive industry. The SBW system, known for enhancing steering control and responsiveness, has become a pivotal feature in modern vehicles.
The automotive industry is undergoing a significant transformation, driven by the twin trends of electrification and autonomous driving. The growing concern for the environment has fueled the demand for electric vehicles (EVs), which aligns with the push towards cleaner transportation solutions. Simultaneously, the rapid advancement of autonomous driving technologies is reshaping the automotive landscape, offering safer and more efficient transportation options.
Automotive manufacturers are responding to these trends by innovating in various areas, including brake-by-wire systems and steering gearboxes. Automotive brake-by-wire systems replace the traditional mechanical linkage between the brake pedal and the brakes with an electrical connection. This technology enables more precise and responsive braking, as well as the integration of advanced safety features. On the other hand, steering gearboxes are essential components of the vehicle's steering system. They convert the rotational motion of the steering wheel into the linear motion required to turn the wheels. With the advent of autonomous driving, automotive steering gearboxes are being redesigned to accommodate the demands of self-driving vehicles, such as high precision and responsiveness.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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