Brake-by-Wire System Market Research Study Tracks Latest Developments and Future Outlook
Global Brake-by-Wire System Market is set to be influenced by a bevy of factors, including COVID-19 impact and broader public-private push toward inducing momentum. In a new comprehensive study, Fact.MR offers in-depth analysis and insights on how Brake-by-Wire System Market sales will grow/decline during the forecast period (2018-2026).
In addition to offering quantitative analysis on Brake-by-Wire System Market demand, the study also offers readers analysis on key factors that are likely to drive the market. From macroeconomic factors to subtle microeconomic factors, the study analyzes the minutest of details that have the potential to impact Brake-by-Wire System Market industry during the assessment period.
The study also offers readers in-depth insights on the key challenges for Brake-by-Wire System companies during the assessment period. The key challenges faced by OEMs as we as suppliers is also discussed in detail in the study.
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What Big will be the Brake-by-Wire System Market Market in 2021?
The study recalibrates the impact of COVID-19 on Brake-by-Wire System sales, offering an analysis on short-term and long-term forecast. The impact of broader trends in the automotive industry have also been analyzed in the study.
Globally, automotive industry is looking at a period of recovery in 2021, as success with vaccine inoculation has raised the hopes of controlling the pandemic. Many automotive companies are also focusing on increasing exports to countries where the pandemic is less severe.
China, the largest automobile market in the world, is going through a period of ascendancy. The government in China is focusing on boosting infrastructure, whereas consumer sentiment is upbeat after a challenging 2020.
In US and Europe, consumer sentiment is moving toward cautious optimism, however, it will be a long road to recovery in these countries. Still, there is growing consensus that 2021 will be a far better year for automotive sales in Europe and US.
A key area of concern for global automakers is the devastating second wave in India, one of the largest automobile markets globally. Things were looking up in India in first quarter of 2021, however, the resurgence of a virulent strain has led to lockdown and economic devastation. How all these developments impact automotive market in general and Brake-by-Wire System sales in particular remains to be seen.
Increased Efficiency and Effectiveness to Drive Demand in Brake-by-Wire System Market
The braking efficiency and effectiveness offered by brake-by-wire system as compared to the traditional braking system is driving the demand in the brake-by-wire system market. Manufacturers are developing brake-by-wire systems including sub-systems and electronic components such as actuators, sensors, and control unit to analyze vehicle data correctly.
The brake-by-wire system also helps to gather vehicle data from different sensors in the vehicle which allow brake-by-wire system to react quickly, thereby, reducing the stopping distance. The features and innovative technology in brake-by-wire systems makes it more efficient, this is leading to the wide adoption of brake-by-wire system by automotive manufacturers.
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Brake System Failure Emerging as the Challenge in Brake-by-Wire System Market
Some sensors in the brake-by-wire cars are safety-critical components and failure of these sensors disrupt the vehicle function. For instance, failure in brake pedal sensor and wheel speed sensor in vehicle and missing the data in these sensors can affect the functionality of vehicle control system. Majority of the brake-by-wire systems used in the vehicles are designed to use existing sensors that have been proven to be dependable in the brake system components.
Moreover, the brake control software holds the high potential risk for the failure of the brake system. The National Transportation Safety Board (NTSB) has recorded over 200 cases of recurring failure in the brake system. Moreover, manufacturers in the brake-in-wire system guarding the confidentiality of the system software and design are restricting the independent validation of the brake systems.
Brake-by-wire system Market- Key Manufacturers
The key manufacturers for the brake-by-wire system are KSR international, Brembo S.P.A, ADVICS, Continental, HYUNDAI MOBIS, ZF Friedrichshafen, Wabco Holdings Inc, Robert Bosch Gmbh, Hitachi Automotive system Americas, Nissin Kogyo Co., Ltd, Haldex and other.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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