You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

DUBLIN, Dec. 21, 2020 /PRNewswire/ -- The "Drive By Wire Market by Application(Brake, Park, Shift, Steer, Throttle), Sensor (Brake Pedal, Throttle Position & Pedal, Park, Gearshift, Handwheel, Pinion),Vehicle (On & Off-Highway, BEV,PHEV,FCEV, Autonomous),Component & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The drive by wire market is projected to reach USD 31.9 billion by 2025 from an estimated USD 24.0 billion in 2020 at a CAGR of 5.9% during the forecast period. The primary reason for the growth is driven by the increasing number of mandates from governments to control vehicle emissions, vehicle weight reduction and the demand for premium cars globally. However, the major factor restraining the growth of the drive by wire market is the high incremental cost, risk of failure in electronics, and lack of public acceptance. Parking pawl is expected to remain the fastest market in drive by wire component market Parking pawl is gaining popularity due to the advanced technical benefits offered by the application. It is installed in the automatic transmission system of the vehicle for locking the transmission to park a vehicle. Parking pawl is mainly used in automatic transmissions and offers reduced traction energy losses and better traction control. Therefore,as automatic transmissions adoption in vehicles is growing rapidly, parking pawl is expected to gain huge popularity. North America is the leading market for parking pawls. Since the majority of the cars in North America are equipped with drive by wire systems, penetration of parking pawl is already high. The COVID-19 outbreak has disrupted the whole automotive supply chain on a global scale in the first 6-7 months of 2020. The pandemic has presented an uncertain recovery timeline for the automotive industry due to lockdown implementation and shutdown of manufacturing facilities in various parts of the world. The automotive industry is facing four major challenges amid COVID-19 - limited supply of vehicle parts, drop in new vehicle sales, the shutdown of production facilities, and decline in working capital. As the drive by wire market is dependent on vehicle production, this market is expected to be impacted due to this outbreak. Agriculture Tractor expected to remain the largest in off-highway vehicle type market Agriculture tractor manufacturers are constantly innovating and looking to go one step further with their technological advancements. An integral design change to achieve these innovations is switching from a mechanical system to a drive by wire system. Major tractor manufacturers working toward autonomous drive by wire systems are AGCO, John Deere, and New Holland. Most importantly, the development of autonomous tractors and intelligent technologies provides a good growth avenue for the drive by wire market. Autonomous tractors are advanced and fully equipped with drive by wire applications to offer more autonomy for precision agriculture. The increasing developments toward self-driven or autonomous tractors will drive the demand for drive by wire systems. Asia Pacific is expected to register the fastest growth during the forecast period Asia Pacific is estimated to dominate the drive by wire market during the forecast period. Customers in the Asia Pacific region are increasingly demanding advanced technologies such as automatic and automated manual transmission in mid-size and economy class vehicles. Advanced drive by wire technologies such as shift-by-wire, park-by-wire, and throttle-by-wire are thus deployed in these vehicle classes. As Asian countries plan to standardize emission norms and use an increasing number of EVs in the future, drive by wire systems are likely to gain traction. Also, considering the growing sales of electric vehicles, particularly in China, the drive by wire market is expected to witness a significant growth. Key Topics Covered: 1 Introduction2 Research Methodology3 Executive Summary4 Premium Insights4.1 Attractive Opportunities in the Drive by Wire Market4.2 Drive by Wire Market, by Region4.3 Drive by Wire Market, by Application4.4 Drive by Wire Market, by On-Highway Vehicle4.5 Drive by Wire Market, by Sensor Type4.6 Drive by Wire Market, by Component4.7 Drive by Wire Market, by Electric & Hybrid Vehicle4.8 Drive by Wire Market, by Off-Highway Vehicle4.9 Autonomous Vehicle Drive by Wire Market, by Region5 Market Overview5.1 Introduction5.2 Years Considered5.2.1 Drivers5.2.1.1 Decreased Tail-Pipe Emission Limits Leading to Vehicle Light-Weighting Trend5.2.1.1.1 On-Road Vehicles5.2.1.1.2 Off-Road Vehicles5.2.1.2 Easy Integration and Independence of Design Will Drive Technological Adoption5.2.1.3 High Operational Accuracy and Reduced Mechanical Losses5.2.2 Restraints5.2.2.1 High Cost and Limited Public Acceptance5.2.2.2 Possibility of Data Hacking5.2.3 Opportunities5.2.3.1 Advancements in Autonomous Vehicles5.2.3.1.1 Developments in Autonomous Off-Highway Equipment5.2.3.1.2 Increase in Demand for Autonomous Cars5.2.3.1.3 Latent Demand for Semi-Autonomous and Autonomous Trucks5.2.3.2 Developments in Drive by Wire Components5.2.4 Challenges5.2.4.1 Fail-Safe Electronics5.2.4.2 Compatibility Issues with 12V Architecture5.2.4.3 Rapid Developments in Automotive Electronics May Pose Challenges for Vehicle Manufacturers (Supply Chain)5.2.4.4 Impact of COVID-19 on Drive by Wire Market5.3 Drive by Wire Market: Scenario Analysis5.4 Revenue Shift Driving Market Growth5.5 Ecosystem5.6 Supply Chain Analysis5.7 Case Study Analysis5.8 Pricing Analysis6 Technology Overview6.1 Introduction6.2 Drive by Wire: Technology Roadmap6.3 Drive by Wire: Applications6.3.1 Throttle-By-Wire6.3.2 Shift-By-Wire6.3.3 Brake-By-Wire6.3.4 Park-By-Wire6.3.5 Steer-By-Wire7 Drive by Wire Market, by Application7.1 Introduction7.1.1 Research Methodology7.1.2 Assumptions7.1.3 Industry Insights7.2 Brake-By-Wire7.2.1 Better Functional Accuracy Expected to Drive Demand7.3 Park-By-Wire7.3.1 Reduced Wear and Tear of Vehicles Due to Park-By-Wire Expected to Drive Its Adoption7.4 Shift-By-Wire7.4.1 Smooth Gear Shifting and Reduced Vehicle Wight Expected to Drive Shift-By-Wire Adoption7.5 Steer-By-Wire7.5.1 Increasing R&D and New Product Developments Expected to Popularize Steer-By-Wire7.6 Throttle-By-Wire7.6.1 Implementation of Stringent Emission Norms Expected to Drive Adoption of Throttle-By-Wire8 Drive by Wire Market, by Sensor Type8.1 Introduction8.1.1 Research Methodology8.1.2 Assumptions8.1.3 Industry Insights8.2 Brake Pedal Sensor8.2.1 Increasing Demand for Safety and Comfort Expected to Drive the Segment8.3 Handwheel Angle Sensor8.3.1 Enhanced Safety and Operational Accuracy Expected to Drive the Segment8.4 Gear Shift Position Sensor8.4.1 Benefits Like Reduced Wear and Tear and Increased Vehicle Lifespan Expected to Drive the Segment8.5 Pinion Angle Sensor8.5.1 Increasing Adoption of Steer-By-Wire Expected to Drive the Segment8.6 Park Sensor8.6.1 Easy and Effortless Parking Benefit to Drive Adoption8.7 Throttle Pedal Sensor8.7.1 Benefits Like Operational Accuracy Expected to Drive the Segment8.8 Throttle Position Sensor8.8.1 Increasing Popularity of Throttle-By-Wire Expected to Drive Adoption9 Drive by Wire Market, by Component9.1 Introduction9.1.1 Research Methodology9.1.2 Assumptions9.1.3 Industry Insights9.2 Actuator9.2.1 Increasing Popularity of Premium Vehicles Expected to Drive the Segment9.3 Electronic Control Unit (Ecu)9.3.1 Improved Fuel Economy and Accuracy Expected to Drive the Segment9.4 Engine Control Module (Ecm)9.4.1 Benefits Such as Better Valve Control Expected to Drive Ecm Adoption9.5 Electronic Throttle Control Module (Etcm)9.5.1 Higher Accuracy and Precision Expected to Drive Demand9.6 Electronic Transmission Control Unit (Etcu)9.6.1 Growing Adoption of Automatic Transmission Expected to Drive the Segment9.7 Feedback Motor9.7.1 Low Maintenance and High Efficiency Expected to Drive Adoption9.8 Parking Pawl9.8.1 Better Traction Control Expected to Drive the Segment10 Drive by Wire Market, by On-Highway Vehicle10.1 Introduction10.1.1 Research Methodology10.1.2 Assumptions10.1.3 Industry Insights10.2 Passenger Car10.2.1 Popularity of Premium Cars Expected to Drive the Market10.3 Light Commercial Vehicle (Lcv)10.3.1 Popularity of Automatic Transmission Expected to Drive the Market10.4 Truck10.4.1 Popularity of Throttle-By-Wire in Trucks Expected to Drive the Market10.5 BUS10.5.1 Increased Adoption of Shift-By-Wire Expected to Drive the Market11 Drive by Wire Market, by Electric & Hybrid Vehicle11.1 Introduction11.1.1 Research Methodology11.1.2 Assumptions11.1.3 Industry Insights11.2 Battery Electric Vehicle (Bev)11.2.1 Attractive Government Initiatives to Drive Bev Sales11.3 Plug-In Hybrid Electric Vehicle (Phev)11.3.1 Benefits Like Vehicle Weight Reduction Expected to Drive the Segment11.4 Fuel-Cell Electric Vehicle (Fcev)11.4.1 Developments in Fcev Drive by Wire Components Expected to Drive the Segment12 Drive by Wire Market, by Off-Highway Vehicle12.1 Introduction12.1.1 Research Methodology12.1.2 Assumptions12.1.3 Industry Insights12.2 Agriculture Tractors12.2.1 Development of Intelligent Technologies Expected to Drive the Segment12.3 Construction & Mining Equipment12.3.1 Increased Fuel Economy of Autonomous Equipment Expected to Drive Demand12.4 Forklift12.4.1 Increasing Number of Small Business and Growth of Ecommerce to Drive the Market13 Autonomous Vehicle Drive by Wire Market, by Application13.1 Introduction13.1.1 Research Methodology13.1.2 Assumptions13.1.3 Industry Insights13.2 Brake by Wire13.3 Park-By-Wire13.4 Shift-By-Wire13.5 Steer-By-Wire13.6 Throttle-By-Wire14 Drive by Wire Market, by Region14.1 Introduction14.2 Asia-Pacific14.3 Europe14.4 North America14.5 Rest of the World (Row)15 Recommendations15.1 Asia-Pacific is a Potential Market for Drive by Wire15.2 Companies Should Increase Focus on Shift-By-Wire Application15.3 Growing Demand of Evs Followed by Autonomous Vehicles Growth15.4 Conclusion16 Competitive Landscape16.1 Introduction16.2 Competitive Leadership Mapping16.2.1 Star16.2.2 Emerging Leader16.2.3 Pervasive16.2.4 Participant16.3 Strength of Product Portfolio16.4 Business Strategy Excellence16.5 Market Evaluation Framework16.6 Drive by Wire: Market Share Analysis16.7 Key Player Strategies/Right to Win16.8 Competitive Scenario16.8.1 New Product Development16.8.2 Expansion16.8.3 Joint Venture16.8.4 Acquisition/Partnership/Collaboration17 Company Profiles17.1 Company Profiles: Drive by Wire Manufacturers17.1.1 Robert Bosch Gmbh17.1.2 Continental Ag17.1.3 Zf Friedrichshafen Ag17.1.4 Infineon Technologies Ag17.1.5 Nexteer Automotive17.1.6 Cts Corporation17.1.7 Ficosa Internacional Sa17.1.8 Kongsberg Automotive17.1.9 Hitachi Automotive Systems, Ltd.17.1.10 Curtiss-Wright Corporation17.2 Additional Company Profiles17.2.1 North America17.2.1.1 Orscheln17.2.1.2 Ksr International17.2.1.3 Lord Corporation17.2.1.4 Dura Automotive Systems17.2.2 Europe17.2.2.1 SKF17.2.2.2 Aptiv17.2.2.3 Mobil Electronik Gmbh17.2.2.4 Thyssenkrupp Ag17.2.3 Asia-Pacific17.2.3.1 Denso Corporation17.2.3.2 Nissan Corporation17.2.3.3 Jtekt Corporation17.3 Drive by Wire Component Suppliers17.3.1 Ree Automotive17.3.2 Nxp Semiconductors Nv17.3.3 Hella Gmbh17.3.4 S&T Motiv Co. Ltd.17.3.5 Lem17.3.6 Allied Motion, Inc.17.3.7 Schaeffler Technologies AG & Co. Kg17.3.8 Ntn Corporation17.3.9 Immersion Corporation17.3.10 Sorl Auto Parts, Inc.18 Appendix For more information about this report visit https://www.researchandmarkets.com/r/pb8bjc Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com

Answer: Global Drive By Wire Market (2020 to 2025) - Advancements in Autonomous Vehicles Presents Opportunities