Automotive Shift-By-Wire Systems Market Size to Reach US$ 2.1 Billion in 2030, Says Stratview Research

DETROIT, Dec. 10, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Automotive Shift-By-Wire (SBW) Systems Market by Vehicle Type (Hatchback, Sedan, SUV, and Others), by Powertrain Type (Combustion Vehicle and Electric Vehicle), by Design Type (Joystick, Rotatory, Lever, Buttons, and Others), by Position Type (Console and Steering), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2020-2030.

This report, from Stratview Research, studies the global automotive SBW systems market over the trend period 2014 to 2019 and forecast period 2020 to 2030 in terms of value and units. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.

Automotive Shift-By-Wire (SBW) Systems Market: Research Highlights

Shift-by-wire systems are gear shift systems in which the transmission modes are changed in a vehicle through electronic controls without any mechanical linkage between the gear shifting lever and the transmission. SBW systems are used in different types of automatic transmission vehicles and their subcategories such as continuously variable transmission (CVT), dual-clutch transmission (DCT) and automatic manual transmission (AMT). With this technology, electro-mechatronic signals connect the gearbox with the gear selector. When the driver selects propulsion direction, the signal is wirelessly transmitted to a gearbox receiver.

SBW system has been maintaining its name in the list of a few automotive components that are witnessing a double-digit rate. Even the cyclic decline of the overall automotive industry has had a relatively less impact on the overall demand for SBW systems. The growth is protected by an incessant shift from mechanical transmission systems to SBW systems.

As per Stratview Research, the automotive SBW systems market is projected to offer healthy growth opportunities and is likely to reach US$ 2,139.5 million in 2030. Organic growth in vehicle production, growing penetration of automatic transmission vehicles in the overall vehicle production, emergence of electric vehicles, and significant weight reduction along with an improvement in fuel economy with SBW systems are some major factors that are fueling the growth of SBW systems market.