Automotive Steer-by-wire System Market Size and Growth Forecast: Global Insights and Analysis

Report ID : 1294949 | Published : May 2025 | Study Period : 2023-2033 | Format : PDF + Excel

The market size of the Automotive Steer-by-wire System Market is categorized based on Type (Fully Electric Steer-by-wire, Partially Electric Steer-by-wire) and Vehicle Type (Passenger Vehicles, Commercial Vehicles) and Component (Steering Actuator, Electronic Control Unit, Sensors, Software, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

As of 2023, the Automotive Steer-by-wire System Market size stood at $1.2 billion and is expected to attain $5.4 billion by 2033, growing at a 16.5% CAGR from 2024 through 2033. The report includes diverse segments and offers an analysis of trends and factors substantially impacting the market.

The Automotive Steer-by-Wire System Market is notable for being a change in vehicles’ technology, indicating a shift from conventional mechanical steering to sophisticated electronic steering systems. Maintaining the automotive evolution trend reveals a need for efficient, more responsive, and sophisticated driving systems. Steer-by-wire technology improves not only steering control by the driver but also vehicle servicing assist, allowing manufacturers to offer more innovative and spacious interiors, hence, changing ergonomic design thinking.

Automation and the application of advanced driver-assistance systems (ADAS) have further enhanced focus on the steer-by-wire system, making it popular with automotive manufacturers and suppliers. Steering is responsive to commands and adjusts with the driver’s preferences since physical connections between the steering wheel and wheels are eliminated. Consumers are shifting preferences to purchase vehicles with servo-controlled raises, advanced safety features, and better handling, which gives steer-by-wire control a significant influence over future automobile design and function.

Subsequently, progressively moving towards sustainability alongside electric cars is driving the adoption of steer-by-wire systems. These systems are energy efficient because they are lightweight and further increase efficiency as they integrate with the growing trend of smart technologies being embedded into vehicles. While looking more closely into the Automotive Steer-by-Wire System Market, we focus on major factors such as innovations, competition, corporate movements in this promising region, and expansion strategies.

 

ATTRIBUTES	DETAILS
STUDY PERIOD	2023-2033
BASE YEAR	2023
FORECAST PERIOD	2024-2033
HISTORICAL PERIOD	2023-2024
UNIT	VALUE (USD BILLION)
KEY COMPANIES PROFILED	Bosch, Continental AG, ZF Friedrichshafen AG, Nexteer Automotive, Thyssenkrupp AG, Marelli, JTEKT Corporation, Infineon Technologies AG, DENSO Corporation, Pioneer Corporation, Hella GmbH & Co. KGaA
SEGMENTS COVERED	By Type - Fully Electric Steer-by-wire, Partially Electric Steer-by-wire By Vehicle Type - Passenger Vehicles, Commercial Vehicles By Component - Steering Actuator, Electronic Control Unit, Sensors, Software, Others By Geography - North America, Europe, APAC, Middle East Asia & Rest of World.

---

Automotive Steer-by-wire System Market Dynamics

The Automotive Steer-by-wire System Market is undergoing significant changes due to various dynamic factors. This section delves into the key drivers, restraints, opportunities, and challenges that are shaping the market landscape.

Market Drivers

1. Technological Advancements
2. Increasing Consumer Demand
3. Regulatory Support
4. Globalization

Market Restraints

1. High Operational Costs
2. Regulatory Challenges
3. Market Saturation

Market Opportunities

1. Emerging Markets
2. Product Innovation
3. Strategic Partnerships

Market Challenges

1. Technological Disruptions
2. Supply Chain Issues
3. Changing Consumer Preferences

---

Key Players in the Automotive Steer-by-wire System Market

This report provides an in-depth analysis of both established and rising industry participants. It provides broad lists of important companies organized by the types of products they offer and other market-related factors. In addition to characterizing these companies, the report contains the year each player entered the market, which is useful for research analysis by the study's analysts.

• Bosch
• Continental AG
• ZF Friedrichshafen AG
• Nexteer Automotive
• Thyssenkrupp AG
• Marelli
• JTEKT Corporation
• Infineon Technologies AG
• DENSO Corporation
• Pioneer Corporation
• Hella GmbH & Co. KGaA

---

Customization Options

Verified Industry Insights offers one of the following report customization options to our respectable clients :

Company Profiling

● Detailed profiling of additional market players (up to three players)
● SWOT analysis of key players (up to three players)

Competitive Benchmarking

● Benchmarking of key players on the following parameters : Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research

Verified Industry Insights offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or call us at +1 743 222 5439

© 2024 Verified Industry Insights. All Rights Reserved