Steer-by-wire market to record steep growth over next decade
S&P Global Mobility forecasts a remarkable compound annual growth rate (CAGR) of 116% in the global steer-by-wire market from 2023 to 2034.
The automotive industry is undergoing a fascinating transformation with the emergence of steer-by-wire (SBW) technology, which is poised to revolutionize the driving experience and pave the way for the vehicles of tomorrow. As electric power steering (EPS) systems continue to dominate the market, SBW systems are captivating the industry by replacing mechanical connections with algorithms, electronics and actuators.
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