Report Code: CMI23789

Published Date: May 2023

Pages: 220+

Category: Automotive Components

Report Snapshot

CAGR: 22.5%
670.6M
2022
818.11M
2023
2145.7M
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • ZF Friedrichshafen AG
  • Kongsberg Automotive
  • Ficosa International
  • KSR International
  • Stoneridge
  • Others

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Reports Description

As per the current market research conducted by CMI Market Research Team, the global Shift-by-Wire System market is expected to record a CAGR of 22.5% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 670.6 million. By 2032, the valuation is anticipated to reach USD 2145.7 million.

The shift-by-wire system market refers to the market for electronic shift control systems in vehicles. A shift-by-wire system replaces the traditional mechanical linkage between the gear shift lever and the transmission with an electronic interface.

It enables the driver to shift gears electronically, eliminating the need for a physical connection. Shift-by-wire systems utilize sensors, electronic control units (ECUs), actuators, and communication systems to facilitate gear shifting. These systems offer various advantages, including improved vehicle performance, enhanced safety features, and increased comfort for the driver. By eliminating the mechanical linkage, shift-by-wire systems enable precise and seamless gear shifts, contributing to smoother driving experiences.

The market for shift-by-wire systems is driven by advancements in automotive technology and the increasing demand for electronic control systems in vehicles. Automotive manufacturers are adopting these systems to improve fuel efficiency, reduce emissions, and enhance overall vehicle performance. Additionally, shift-by-wire systems enable the integration of advanced driver assistance systems (ADAS) and autonomous driving technologies.

The shift-by-wire system market is influenced by factors such as government regulations promoting vehicle safety and emissions control, technological advancements in electronic control systems, and the evolving preferences of consumers for advanced automotive features. Major players in the automotive industry, including automotive suppliers and technology companies, are actively involved in the development and supply of shift-by-wire systems.

Shift-by-Wire System Market – Significant Growth Factors

The shift-by-wire system market presents several growth opportunities driven by various factors. Here are some growth opportunities in the shift-by-wire system market:

  • Increasing Demand for Electric and Hybrid Vehicles: The shift-by-wire system market is expected to benefit from the growing demand for electric and hybrid vehicles. These vehicles often utilize shift-by-wire systems due to their compatibility with electric drivetrains. As governments worldwide promote electric mobility and consumers increasingly embrace eco-friendly vehicles, the demand for shift-by-wire systems is likely to witness significant growth.
  • Advancements in Autonomous Driving Technologies: The shift-by-wire system market can leverage the opportunities arising from the development of autonomous driving technologies. Autonomous vehicles rely on electronic control systems for shifting gears, and shift-by-wire systems play a vital role in enabling seamless transitions between different driving modes. As autonomous driving technology continues to evolve, the demand for advanced shift-by-wire systems is expected to rise.
  • Integration of Advanced Driver Assistance Systems (ADAS): The integration of ADAS in vehicles offers growth opportunities for the shift-by-wire system market. ADAS features such as adaptive cruise control, lane-keeping assist, and automated parking require precise and efficient gear shifting. Shift-by-wire systems provide the necessary electronic control and actuation for seamless integration with ADAS, enhancing safety and convenience.
  • Focus on Vehicle Performance and Efficiency: Automotive manufacturers are continually striving to improve vehicle performance and efficiency. Shift-by-wire systems offer benefits such as faster and smoother gear shifting, optimized gear ratios, and improved drivetrain management, contributing to enhanced performance and fuel efficiency. As automakers prioritize these aspects, the demand for advanced shift-by-wire systems is expected to increase.
  • Technological Advancements and Innovation: Ongoing technological advancements and innovation in shift-by-wire systems present growth opportunities. Companies are investing in research and development to enhance the functionality, reliability, and safety features of these systems. Improved sensor technology, communication protocols, and actuation mechanisms can further propel the growth of the shift-by-wire system market.
  • Focus on Driver Comfort and User Experience: Shift-by-wire systems enhance driver comfort by providing smoother and effortless gear shifting. These systems eliminate the mechanical constraints of traditional shift linkages, allowing for more ergonomic and intuitive shift controls. As automakers emphasize user experience and convenience, the demand for shift-by-wire systems that enhance driver comfort is expected to grow.
  • Emerging Markets: Emerging markets, especially in Asia-Pacific and Latin America, offer significant growth opportunities for the shift-by-wire system market. Rapid urbanization, increasing disposable incomes, and expanding automotive industries in these regions contribute to the demand for advanced automotive technologies. As the adoption of electronic control systems and advanced vehicles grows in these markets, the demand for shift-by-wire systems is likely to follow suit.

The shift-by-wire system market is driven by a combination of technological advancements, regulatory trends, consumer preferences, and market dynamics in the automotive industry. Companies that innovate, adapt to evolving trends and offer solutions that enhance vehicle performance, safety, and comfort are well-positioned to capitalize on the growth opportunities in the shift-by-wire system market.

Shift-by-Wire System Market – Mergers and Acquisitions

The shift-by-wire system market has witnessed several mergers and acquisitions as companies seek to strengthen their market position, expand their product portfolios, and enhance their technological capabilities. Here are some notable mergers and acquisitions in the shift-by-wire system market:

  • ZF Friedrichshafen AG and WABCO Holdings Inc.: In 2020, ZF Friedrichshafen, a leading global technology company, completed the acquisition of WABCO Holdings, a major supplier of advanced technologies and services for commercial vehicles. This acquisition expanded ZF Friedrichshafen’s product offerings, including shift-by-wire systems, and strengthened its position in the commercial vehicle market.
  • Kongsberg Automotive and Raicam Industrie SRL: Kongsberg Automotive, a leading supplier of automotive systems, completed the acquisition of Raicam Industrie, a renowned manufacturer of automotive components, in 2019. This acquisition added complementary product lines, including shift-by-wire systems, to Kongsberg Automotive’s portfolio, enabling the company to offer a wider range of solutions to its customers.
  • CTS Corporation and U.S. Sensor Systems Inc.: CTS Corporation, a global technology company, acquired U.S. Sensor Systems Inc., a provider of custom-designed sensors, in 2020. This acquisition enhanced CTS Corporation’s sensor technology capabilities, which can be integrated into shift-by-wire systems for improved performance and reliability.
  • KSR International and Sensata Technologies: KSR International, a leading supplier of electronic control solutions, was acquired by Sensata Technologies, a global supplier of sensing, electrical protection, and control solutions, in 2019. This merger expanded Sensata Technologies’ product portfolio, including shift-by-wire systems, and strengthened its position in the automotive market.
  • Stoneridge Inc. and Orlaco: Stoneridge, a provider of electrical and electronic components for vehicles, acquired Orlaco, a manufacturer of camera systems for various industries, including automotive, in 2020. This acquisition added camera and vision systems to Stoneridge’s product offerings, which can be integrated with shift-by-wire systems to enhance safety and visibility for drivers.

These mergers and acquisitions have enabled companies to consolidate their market presence, leverage synergies, and capitalize on the growing demand for shift-by-wire systems. By combining resources, expertise, and technologies, these companies aim to offer comprehensive solutions to meet the evolving needs of the automotive industry.

The shift-by-wire system market is expected to continue witnessing mergers and acquisitions as companies seek strategic partnerships to expand their global footprint, access new markets, and stay competitive in the rapidly evolving automotive industry.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Shift-by-Wire System Market In-Car Wireless Charging Market Advanced Driver Assistance Systems (ADAS) Market
CAGR 22.5% (Approx) CAGR 38%

(Approx)

18.2%

(Approx)

USD 2145.7 million by 2032 USD 15 billion by 2032 USD 81.17 Billion by 2032

Shift-by-Wire System Market – Significant Threats

While the shift-by-wire system market presents significant growth opportunities, it also faces certain threats that could impact its development and profitability. Here are some significant threats in the shift-by-wire system market:

  • Technological Challenges: The shift-by-wire system market relies heavily on advanced electronic and communication technologies. Rapid technological advancements require continuous investments in research and development to stay competitive. The emergence of new technologies or shifts in industry standards could pose challenges for companies that are not able to adapt quickly enough.
  • Cybersecurity Risks: As shift-by-wire systems involve electronic control units (ECUs), sensors, and communication networks, they are susceptible to cybersecurity threats. Hacking attempts or unauthorized access to the system’s software and communication protocols could compromise the safety and functionality of the shift-by-wire system. Ensuring robust cybersecurity measures is essential to mitigate these risks.
  • Reliability and Durability Concerns: Shift-by-wire systems need to demonstrate high reliability and durability to withstand the harsh automotive environment. Any failures or malfunctions in the system can lead to safety issues and potential accidents. Maintaining the quality and reliability of shift-by-wire systems over their lifespan is crucial to building trust among customers.
  • Cost and Affordability: The cost of shift-by-wire systems, including components, sensors, and electronic control units, can be relatively high compared to traditional mechanical systems. Affordability remains a key consideration for automakers, particularly in price-sensitive markets. Companies need to balance the cost-effectiveness of shift-by-wire systems without compromising quality and performance.
  • Regulatory Compliance: The automotive industry is subject to stringent regulations related to safety, emissions, and vehicle performance. Shift-by-wire systems must comply with these regulations to be certified for use in vehicles. Changes in regulations or the introduction of new standards could impact the development and adoption of shift-by-wire systems.
  • Market Competition: The shift-by-wire system market is highly competitive, with several established players and new entrants vying for market share. Intense competition can lead to price pressures, reduced profit margins, and the need for continuous innovation and differentiation to stay ahead.
  • Resistance to Adoption: Despite the advantages offered by shift-by-wire systems, there may be resistance to their adoption from traditional automotive manufacturers and consumers who are accustomed to mechanical systems. Educating and convincing stakeholders about the benefits and reliability of shift-by-wire systems can be a challenge.

Addressing these threats requires companies in the shift-by-wire system market to invest in research and development, prioritize cybersecurity measures, ensure compliance with regulations, and demonstrate the cost-effectiveness and reliability of their products. Companies that can effectively navigate these challenges have a better chance of succeeding in the dynamic and competitive shift-by-wire system market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 818.11 Million
Projected Market Size in 2032 USD 2145.7 Million
Market Size in 2022 USD 670.6 Million
CAGR Growth Rate 22.5% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Vehicle Type, By Design Type, By Position Type, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfill your requirements for research.

Category-Wise Insights

By System Type:

  • Throttle-by-Wire: Throttle-by-wire systems electronically control the throttle opening in vehicles, replacing the traditional mechanical throttle linkage. These systems enable precise control of engine throttle response, contributing to improved fuel efficiency, emissions control, and enhanced driving performance.
  • Suspension-by-Wire: Suspension-by-wire systems utilize electronic control to adjust and manage vehicle suspension settings. These systems offer active suspension control, enabling real-time adjustments for improved ride comfort, stability, and handling. Suspension-by-wire systems can adapt to changing road conditions and enhance the overall driving experience.
  • Fly-by-Wire: Fly-by-wire systems are commonly used in aircraft, where they replace traditional mechanical controls with electronic systems for various functions such as flight control, throttle, and braking. In the automotive context, fly-by-wire systems are still in development, aiming to provide advanced control and safety features for autonomous and electric vehicles.
  • Shift-by-Wire: Shift-by-wire systems electronically control the gear shifting in vehicles, eliminating the need for a mechanical linkage between the gear shift lever and the transmission. These systems provide seamless and precise gear shifting, improving the overall driving experience and enabling integration with advanced driver assistance systems.
  • Park-by-Wire: Park-by-wire systems electronically control the parking brake function in vehicles. These systems replace traditional mechanical parking brakes with electronic actuators, offering features such as automatic parking brake engagement and release, hill hold assist, and enhanced safety.
  • Others: This category encompasses other types of shift-by-wire systems or emerging technologies that may not fall into the above-mentioned categories. It could include innovative systems being developed for specific applications or unique functions within the vehicle.

Global Shift-by-Wire System Market 2023–2032 (By Million)

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By Vehicle Type:

  • Commercial Vehicles: This segment includes vehicles used for commercial purposes such as trucks, buses, and vans. Commercial vehicles often employ shift-by-wire systems to improve efficiency, enhance driver comfort, and enable seamless gear shifting. Shift-by-wire systems in commercial vehicles offer benefits such as optimized gear ratios for better fuel economy, reduced driver fatigue, and improved overall performance.
  • Passenger Vehicles: This segment comprises vehicles designed for personal transportation, including cars, SUVs, and hatchbacks. Passenger vehicles utilize shift-by-wire systems to enhance the driving experience, provide smoother gear transitions, and integrate with advanced driver assistance systems. Shift-by-wire systems in passenger vehicles offer convenience, precision, and comfort for drivers and passengers.

Shift-by-Wire System Market – Regional Analysis

The shift-by-wire system market can be analyzed based on regional segmentation to understand its dynamics and trends across different geographical areas. Here is a regional analysis of the shift-by-wire system market:

  • North America: North America is expected to be a significant market for shift-by-wire systems due to the presence of leading automotive manufacturers and technological advancements in the region. The United States and Canada are the key contributors to the market growth, driven by the increasing adoption of electric and hybrid vehicles, as well as the demand for advanced automotive technologies.
  • Europe: Europe is likely to exhibit substantial growth in the shift-by-wire system market. The region is home to prominent automotive manufacturers and is at the forefront of electric mobility and autonomous driving advancements. Countries such as Germany, France, and the United Kingdom are expected to drive market growth, supported by stringent emissions regulations and a focus on enhancing vehicle performance and safety.
  • Asia-Pacific: Asia-Pacific is anticipated to be the largest consumption region for shift-by-wire systems. The region’s growing automotive industry, rising disposable incomes, and increasing demand for electric vehicles contribute to the market’s growth. Countries like China, Japan, and South Korea are key players in the region, with significant investments in research and development and the production of advanced automotive technologies.

Global Shift-by-Wire System Market 2023–2032 (By Vehicle Type)

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Competitive Landscape – Shift-by-Wire System Market

The shift-by-wire system market is characterized by intense competition among several key players striving to gain a competitive edge. These players are continuously focusing on product development, technological advancements, and strategic initiatives to strengthen their market position. Here are some prominent companies operating in the shift-by-wire system market:

  • ZF Friedrichshafen AG: ZF Friedrichshafen is a global technology company that specializes in driveline and chassis technology. They offer shift-by-wire systems that provide electronic control of transmission shifting. ZF Friedrichshafen has a strong presence in the automotive industry and focuses on developing advanced automotive technologies.
  • Kongsberg Automotive: Kongsberg Automotive is a leading supplier of automotive systems and solutions. They offer shift-by-wire systems that provide electronic gear shifting for improved vehicle performance and comfort. Kongsberg Automotive is known for its innovative products and focuses on sustainable mobility solutions.
  • Ficosa International: Ficosa International is a global technology company that specializes in automotive systems and solutions. They provide shift-by-wire systems that enable electronic gear shifting and offer enhanced safety and convenience features. Ficosa International is committed to developing cutting-edge technologies for the automotive industry.
  • KSR International: KSR International is a renowned supplier of electronic control solutions for the automotive industry. They offer shift-by-wire systems that provide precise and reliable electronic gear shifting. KSR International focuses on delivering high-quality products and innovative solutions to their customers.
  • Stoneridge, Inc.: Stoneridge is a leading provider of electrical and electronic components for the automotive industry. They offer shift-by-wire systems that provide seamless electronic gear shifting and improved vehicle performance. Stoneridge has a strong presence in the global automotive market and emphasizes innovation and customer satisfaction.
  • CTS Corporation: CTS Corporation is a global technology company that specializes in electronic components and sensors. They offer shift-by-wire systems that provide advanced electronic gear-shifting capabilities. CTS Corporation focuses on developing innovative solutions for the automotive industry and has a strong customer base.

Global Shift-by-Wire System Market 2023–2032 (By Position Type)

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The Shift-by-Wire System Market is segmented as follows:

By Type

  • Throttle-by-wire System
  • Brake-by-wire System
  • Steer-by-wire System
  • Park-by-wire System
  • Shift-by-wire System

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Design Type

  • Joystick
  • Rotatory
  • Lever
  • Buttons
  • Others

By Position Type

  • Console
  • Steering

By Region

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Shift-by-Wire System Market, (2024 – 2033) (USD Million)
    • 2.2 Global Shift-by-Wire System Market : snapshot
  • Chapter 3. Global Shift-by-Wire System Market – Industry Analysis
    • 3.1 Shift-by-Wire System Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Demand for Electric and Hybrid Vehicles
      • 3.2.2 Advancements in Autonomous Driving Technologies
      • 3.2.3 Integration of Advanced Driver Assistance Systems (ADAS)
      • 3.2.4 Focus on Vehicle Performance and Efficiency
      • 3.2.5 Focus on Driver Comfort and User Experience
      • 3.2.6 Emerging Markets.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Vehicle Type
  • Chapter 4. Global Shift-by-Wire System Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Shift-by-Wire System Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Shift-by-Wire System Market – Type Analysis
    • 5.1 Global Shift-by-Wire System Market overview: By Type
      • 5.1.1 Global Shift-by-Wire System Market share, By Type, 2022 and – 2033
    • 5.2 Throttle-by-wire System
      • 5.2.1 Global Shift-by-Wire System Market by Throttle-by-wire System, 2024 – 2033 (USD Million)
    • 5.3 Brake-by-wire System
      • 5.3.1 Global Shift-by-Wire System Market by Brake-by-wire System, 2024 – 2033 (USD Million)
    • 5.4 Steer-by-wire System
      • 5.4.1 Global Shift-by-Wire System Market by Steer-by-wire System, 2024 – 2033 (USD Million)
    • 5.5 Park-by-wire System
      • 5.5.1 Global Shift-by-Wire System Market by Park-by-wire System, 2024 – 2033 (USD Million)
    • 5.6 Shift-by-wire System
      • 5.6.1 Global Shift-by-Wire System Market by Shift-by-wire System, 2024 – 2033 (USD Million)
  • Chapter 6. Global Shift-by-Wire System Market – Vehicle Type Analysis
    • 6.1 Global Shift-by-Wire System Market overview: By Vehicle Type
      • 6.1.1 Global Shift-by-Wire System Market share, By Vehicle Type, 2022 and – 2033
    • 6.2 Passenger Cars
      • 6.2.1 Global Shift-by-Wire System Market by Passenger Cars, 2024 – 2033 (USD Million)
    • 6.3 Commercial Vehicles
      • 6.3.1 Global Shift-by-Wire System Market by Commercial Vehicles, 2024 – 2033 (USD Million)
  • Chapter 7. Shift-by-Wire System Market – Regional Analysis
    • 7.1 Global Shift-by-Wire System Market Regional Overview
    • 7.2 Global Shift-by-Wire System Market Share, by Region, 2022 & – 2033 (USD Million)
    • 7.3. North America
      • 7.3.1 North America Shift-by-Wire System Market, 2024 – 2033 (USD Million)
        • 7.3.1.1 North America Shift-by-Wire System Market, by Country, 2024 – 2033 (USD Million)
    • 7.4 North America Shift-by-Wire System Market, by Type, 2024 – 2033
      • 7.4.1 North America Shift-by-Wire System Market, by Type, 2024 – 2033 (USD Million)
    • 7.5 North America Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033
      • 7.5.1 North America Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033 (USD Million)
    • 7.6. Europe
      • 7.6.1 Europe Shift-by-Wire System Market, 2024 – 2033 (USD Million)
        • 7.6.1.1 Europe Shift-by-Wire System Market, by Country, 2024 – 2033 (USD Million)
    • 7.7 Europe Shift-by-Wire System Market, by Type, 2024 – 2033
      • 7.7.1 Europe Shift-by-Wire System Market, by Type, 2024 – 2033 (USD Million)
    • 7.8 Europe Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033
      • 7.8.1 Europe Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033 (USD Million)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Shift-by-Wire System Market, 2024 – 2033 (USD Million)
        • 7.9.1.1 Asia Pacific Shift-by-Wire System Market, by Country, 2024 – 2033 (USD Million)
    • 7.10 Asia Pacific Shift-by-Wire System Market, by Type, 2024 – 2033
      • 7.10.1 Asia Pacific Shift-by-Wire System Market, by Type, 2024 – 2033 (USD Million)
    • 7.11 Asia Pacific Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033
      • 7.11.1 Asia Pacific Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033 (USD Million)
    • 7.12. Latin America
      • 7.12.1 Latin America Shift-by-Wire System Market, 2024 – 2033 (USD Million)
        • 7.12.1.1 Latin America Shift-by-Wire System Market, by Country, 2024 – 2033 (USD Million)
    • 7.13 Latin America Shift-by-Wire System Market, by Type, 2024 – 2033
      • 7.13.1 Latin America Shift-by-Wire System Market, by Type, 2024 – 2033 (USD Million)
    • 7.14 Latin America Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033
      • 7.14.1 Latin America Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033 (USD Million)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Shift-by-Wire System Market, 2024 – 2033 (USD Million)
        • 7.15.1.1 The Middle-East and Africa Shift-by-Wire System Market, by Country, 2024 – 2033 (USD Million)
    • 7.16 The Middle-East and Africa Shift-by-Wire System Market, by Type, 2024 – 2033
      • 7.16.1 The Middle-East and Africa Shift-by-Wire System Market, by Type, 2024 – 2033 (USD Million)
    • 7.17 The Middle-East and Africa Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033
      • 7.17.1 The Middle-East and Africa Shift-by-Wire System Market, by Vehicle Type, 2024 – 2033 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 ZF Friedrichshafen AG
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Kongsberg Automotive
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Ficosa International
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 KSR International
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Stoneridge
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Others
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
List Of Figures

Figures No 1 to 21

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

FAQs

“North America” region will lead the global Shift-by-Wire System market during the forecast period 2023 to 2032.

The key factors driving the market are Increasing Demand for Electric and Hybrid Vehicles, Advancements in Autonomous Driving Technologies, Integration of Advanced Driver Assistance Systems (ADAS), Focus on Vehicle Performance and Efficiency, Focus on Driver Comfort and User Experience and Emerging Markets.

The key players operating in the Shift-by-Wire System market are ZF Friedrichshafen AG, Kongsberg Automotive, Ficosa International, KSR International, Stoneridge, Others.

The global Shift-by-Wire System market is expanding growth with a CAGR of approximately 22.5% during the forecast period (2023 to 2032).

The global Shift-by-Wire System market size was valued at USD 670.6 Million in 2022 and it is projected to reach around USD 2145.7 Million by 2032.

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