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レポート概要
本調査レポートでは、エックスバイワイヤシステムの世界市場を広く調査・分析し、今後の市場展望をまとめております。エックスバイワイヤシステムの種類別市場規模(シフトバイワイヤー、スロットルバイワイヤー、アクティブサスペンション、電子パークブレーキ)、用途別市場規模(乗用車、商用車)、地域別市場規模(北米、アメリカ、ヨーロッパ、アジア、中国、日本、東南アジア、南米、中東、アフリカなど)、市場動向、企業別販売量と市場シェアなどの情報を掲載しています。 ・市場概要 ・企業情報(販売量、市場シェア、製品概要、SWOT分析):Robert Bosch GmbH、TRW Automotive、Continental、Curtiss Wright、P.S.A Citroen、Nissan Motor ・地域別グローバル市場分析 2015年-2020年 ・エックスバイワイヤシステムの北米市場(アメリカ、カナダ、メキシコ) ・エックスバイワイヤシステムのヨーロッパ市場(ドイツ、イギリス、フランス、ロシア、イタリア) ・エックスバイワイヤシステムのアジア市場(中国、日本、韓国、インド、東南アジア、オーストラリア) ・エックスバイワイヤシステムの南米市場(ブラジル、アルゼンチン) ・エックスバイワイヤシステムの中東・アフリカ市場(サウジアラビア、トルコ、エジプト、南アフリカ) ・種類別分析:シフトバイワイヤー、スロットルバイワイヤー、アクティブサスペンション、電子パークブレーキ ・用途別分析:乗用車、商用車 ・地域別市場規模予測 2021年-2025年 ・調査の結果・結論 |
Market Overview
The global X-by-Wire Systems market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of xx% in the forecast period of 2020 to 2025 and will expected to reach USD xx million by 2025, from USD xx million in 2019.
The X-by-Wire Systems market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
Market segmentation
X-by-Wire Systems market is split by Type and by Application. For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
By Type, X-by-Wire Systems market has been segmented into:
Shift-by-Wire
Throttle-by-Wire
Active Suspension
Electronic Park Brake
By Application, X-by-Wire Systems has been segmented into:
Passenger Car
Commercial Vehicle
Regions and Countries Level Analysis
Regional analysis is another highly comprehensive part of the research and analysis study of the global X-by-Wire Systems market presented in the report. This section sheds light on the sales growth of different regional and country-level X-by-Wire Systems markets. For the historical and forecast period 2015 to 2025, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global X-by-Wire Systems market.
The report offers in-depth assessment of the growth and other aspects of the X-by-Wire Systems market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Competitive Landscape and X-by-Wire Systems Market Share Analysis
X-by-Wire Systems competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, X-by-Wire Systems sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2015-2020, this study provides the X-by-Wire Systems sales, revenue and market share for each player covered in this report.
The major players covered in X-by-Wire Systems are:
Robert Bosch GmbH
TRW Automotive
Continental
Curtiss Wright
P.S.A Citroen
Nissan Motor
Table of Contents
1 X-by-Wire Systems Market Overview
1.1 Product Overview and Scope of X-by-Wire Systems
1.2 Classification of X-by-Wire Systems by Type
1.2.1 Global X-by-Wire Systems Revenue by Type: 2015 VS 2019 VS 2025
1.2.2 Global X-by-Wire Systems Revenue Market Share by Type in 2019
1.2.3 Shift-by-Wire
1.2.4 Throttle-by-Wire
1.2.5 Active Suspension
1.2.6 Electronic Park Brake
1.3 Global X-by-Wire Systems Market by Application
1.3.1 Overview: Global X-by-Wire Systems Revenue by Application: 2015 VS 2019 VS 2025
1.3.2 Passenger Car
1.3.3 Commercial Vehicle
1.4 Global X-by-Wire Systems Market by Regions
1.4.1 Global X-by-Wire Systems Market Size by Regions: 2015 VS 2019 VS 2025
1.4.2 Global Market Size of X-by-Wire Systems (2015-2025)
1.4.3 North America (USA, Canada and Mexico) X-by-Wire Systems Status and Prospect (2015-2025)
1.4.4 Europe (Germany, France, UK, Russia and Italy) X-by-Wire Systems Status and Prospect (2015-2025)
1.4.5 Asia-Pacific (China, Japan, Korea, India and Southeast Asia) X-by-Wire Systems Status and Prospect (2015-2025)
1.4.6 South America (Brazil, Argentina, Colombia) X-by-Wire Systems Status and Prospect (2015-2025)
1.4.7 Middle East & Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa) X-by-Wire Systems Status and Prospect (2015-2025)
2 Company Profiles
2.1 Robert Bosch GmbH
2.1.1 Robert Bosch GmbH Details
2.1.2 Robert Bosch GmbH Major Business and Total Revenue (Financial Highlights) Analysis
2.1.3 Robert Bosch GmbH SWOT Analysis
2.1.4 Robert Bosch GmbH Product and Services
2.1.5 Robert Bosch GmbH X-by-Wire Systems Revenue, Gross Margin and Market Share (2018-2019)
2.2 TRW Automotive
2.2.1 TRW Automotive Details
2.2.2 TRW Automotive Major Business and Total Revenue (Financial Highlights) Analysis
2.2.3 TRW Automotive SWOT Analysis
2.2.4 TRW Automotive Product and Services
2.2.5 TRW Automotive X-by-Wire Systems Revenue, Gross Margin and Market Share (2018-2019)
2.3 Continental
2.3.1 Continental Details
2.3.2 Continental Major Business and Total Revenue (Financial Highlights) Analysis
2.3.3 Continental SWOT Analysis
2.3.4 Continental Product and Services
2.3.5 Continental X-by-Wire Systems Revenue, Gross Margin and Market Share (2018-2019)
2.4 Curtiss Wright
2.4.1 Curtiss Wright Details
2.4.2 Curtiss Wright Major Business and Total Revenue (Financial Highlights) Analysis
2.4.3 Curtiss Wright SWOT Analysis
2.4.4 Curtiss Wright Product and Services
2.4.5 Curtiss Wright X-by-Wire Systems Revenue, Gross Margin and Market Share (2018-2019)
2.5 P.S.A Citroen
2.5.1 P.S.A Citroen Details
2.5.2 P.S.A Citroen Major Business and Total Revenue (Financial Highlights) Analysis
2.5.3 P.S.A Citroen SWOT Analysis
2.5.4 P.S.A Citroen Product and Services
2.5.5 P.S.A Citroen X-by-Wire Systems Revenue, Gross Margin and Market Share (2018-2019)
2.6 Nissan Motor
2.6.1 Nissan Motor Details
2.6.2 Nissan Motor Major Business and Total Revenue (Financial Highlights) Analysis
2.6.3 Nissan Motor SWOT Analysis
2.6.4 Nissan Motor Product and Services
2.6.5 Nissan Motor X-by-Wire Systems Revenue, Gross Margin and Market Share (2018-2019)
3 Market Competition, by Players
3.1 Global X-by-Wire Systems Revenue and Share by Players (2015-2020)
3.2 Market Concentration Rate
3.2.1 Top 5 X-by-Wire Systems Players Market Share
3.2.2 Top 10 X-by-Wire Systems Players Market Share
3.3 Market Competition Trend
4 Market Size by Regions
4.1 Global X-by-Wire Systems Revenue and Market Share by Regions
4.2 North America X-by-Wire Systems Revenue and Growth Rate (2015-2020)
4.3 Europe X-by-Wire Systems Revenue and Growth Rate (2015-2020)
4.4 Asia-Pacific X-by-Wire Systems Revenue and Growth Rate (2015-2020)
4.5 South America X-by-Wire Systems Revenue and Growth Rate (2015-2020)
4.6 Middle East & Africa X-by-Wire Systems Revenue and Growth Rate (2015-2020)
5 North America X-by-Wire Systems Revenue by Countries
5.1 North America X-by-Wire Systems Revenue by Countries (2015-2020)
5.2 USA X-by-Wire Systems Revenue and Growth Rate (2015-2020)
5.3 Canada X-by-Wire Systems Revenue and Growth Rate (2015-2020)
5.4 Mexico X-by-Wire Systems Revenue and Growth Rate (2015-2020)
6 Europe X-by-Wire Systems Revenue by Countries
6.1 Europe X-by-Wire Systems Revenue by Countries (2015-2020)
6.2 Germany X-by-Wire Systems Revenue and Growth Rate (2015-2020)
6.3 UK X-by-Wire Systems Revenue and Growth Rate (2015-2020)
6.4 France X-by-Wire Systems Revenue and Growth Rate (2015-2020)
6.5 Russia X-by-Wire Systems Revenue and Growth Rate (2015-2020)
6.6 Italy X-by-Wire Systems Revenue and Growth Rate (2015-2020)
7 Asia-Pacific X-by-Wire Systems Revenue by Countries
7.1 Asia-Pacific X-by-Wire Systems Revenue by Countries (2015-2020)
7.2 China X-by-Wire Systems Revenue and Growth Rate (2015-2020)
7.3 Japan X-by-Wire Systems Revenue and Growth Rate (2015-2020)
7.4 Korea X-by-Wire Systems Revenue and Growth Rate (2015-2020)
7.5 India X-by-Wire Systems Revenue and Growth Rate (2015-2020)
7.6 Southeast Asia X-by-Wire Systems Revenue and Growth Rate (2015-2020)
8 South America X-by-Wire Systems Revenue by Countries
8.1 South America X-by-Wire Systems Revenue by Countries (2015-2020)
8.2 Brazil X-by-Wire Systems Revenue and Growth Rate (2015-2020)
8.3 Argentina X-by-Wire Systems Revenue and Growth Rate (2015-2020)
9 Middle East & Africa Revenue X-by-Wire Systems by Countries
9.1 Middle East & Africa X-by-Wire Systems Revenue by Countries (2015-2020)
9.2 Saudi Arabia X-by-Wire Systems Revenue and Growth Rate (2015-2020)
9.3 UAE X-by-Wire Systems Revenue and Growth Rate (2015-2020)
9.4 Egypt X-by-Wire Systems Revenue and Growth Rate (2015-2020)
9.5 South Africa X-by-Wire Systems Revenue and Growth Rate (2015-2020)
10 Market Size Segment by Type
10.1 Global X-by-Wire Systems Revenue and Market Share by Type (2015-2020)
10.2 Global X-by-Wire Systems Market Forecast by Type (2019-2024)
10.3 Shift-by-Wire Revenue Growth Rate (2015-2025)
10.4 Throttle-by-Wire Revenue Growth Rate (2015-2025)
10.5 Active Suspension Revenue Growth Rate (2015-2025)
10.6 Electronic Park Brake Revenue Growth Rate (2015-2025)
11 Global X-by-Wire Systems Market Segment by Application
11.1 Global X-by-Wire Systems Revenue Market Share by Application (2015-2020)
11.2 X-by-Wire Systems Market Forecast by Application (2019-2024)
11.3 Passenger Car Revenue Growth (2015-2020)
11.4 Commercial Vehicle Revenue Growth (2015-2020)
12 Global X-by-Wire Systems Market Size Forecast (2021-2025)
12.1 Global X-by-Wire Systems Market Size Forecast (2021-2025)
12.2 Global X-by-Wire Systems Market Forecast by Regions (2021-2025)
12.3 North America X-by-Wire Systems Revenue Market Forecast (2021-2025)
12.4 Europe X-by-Wire Systems Revenue Market Forecast (2021-2025)
12.5 Asia-Pacific X-by-Wire Systems Revenue Market Forecast (2021-2025)
12.6 South America X-by-Wire Systems Revenue Market Forecast (2021-2025)
12.7 Middle East & Africa X-by-Wire Systems Revenue Market Forecast (2021-2025)
13 Research Findings and Conclusion
14 Appendix
14.1 Methodology
14.2 Data Source
14.3 Disclaimer
14.4 About US
Table 1. Global X-by-Wire Systems Revenue (USD Million) by Type: 2015 VS 2019 VS 2025
Table 2. Breakdown of X-by-Wire Systems by Company Type (Tier 1, Tier 2 and Tier 3)
Table 3. Global X-by-Wire Systems Revenue (USD Million) by Application: 2015 VS 2019 VS 2025
Table 4. Global Market X-by-Wire Systems Revenue (Million USD) Comparison by Regions 2015-2025
Table 5. Robert Bosch GmbH Corporate Information, Location and Competitors
Table 6. Robert Bosch GmbH X-by-Wire Systems Major Business
Table 7. Robert Bosch GmbH X-by-Wire Systems Total Revenue (USD Million) (2017-2018)
Table 8. Robert Bosch GmbH SWOT Analysis
Table 9. Robert Bosch GmbH X-by-Wire Systems Product and Solutions
Table 10. Robert Bosch GmbH X-by-Wire Systems Revenue (USD Million), Gross Margin and Market Share (2018-2019)
Table 11. TRW Automotive Corporate Information, Location and Competitors
Table 12. TRW Automotive X-by-Wire Systems Major Business
Table 13. TRW Automotive X-by-Wire Systems Total Revenue (USD Million) (2018-2019)
Table 14. TRW Automotive SWOT Analysis
Table 15. TRW Automotive X-by-Wire Systems Product and Solutions
Table 16. TRW Automotive X-by-Wire Systems Revenue (USD Million), Gross Margin and Market Share (2018-2019)
Table 17. Continental Corporate Information, Location and Competitors
Table 18. Continental X-by-Wire Systems Major Business
Table 19. Continental X-by-Wire Systems Total Revenue (USD Million) (2017-2018)
Table 20. Continental SWOT Analysis
Table 21. Continental X-by-Wire Systems Product and Solutions
Table 22. Continental X-by-Wire Systems Revenue (USD Million), Gross Margin and Market Share (2018-2019)
Table 23. Curtiss Wright Corporate Information, Location and Competitors
Table 24. Curtiss Wright X-by-Wire Systems Major Business
Table 25. Curtiss Wright X-by-Wire Systems Total Revenue (USD Million) (2017-2018)
Table 26. Curtiss Wright SWOT Analysis
Table 27. Curtiss Wright X-by-Wire Systems Product and Solutions
Table 28. Curtiss Wright X-by-Wire Systems Revenue (USD Million), Gross Margin and Market Share (2018-2019)
Table 29. P.S.A Citroen Corporate Information, Location and Competitors
Table 30. P.S.A Citroen X-by-Wire Systems Major Business
Table 31. P.S.A Citroen X-by-Wire Systems Total Revenue (USD Million) (2017-2018)
Table 32. P.S.A Citroen SWOT Analysis
Table 33. P.S.A Citroen X-by-Wire Systems Product and Solutions
Table 34. P.S.A Citroen X-by-Wire Systems Revenue (USD Million), Gross Margin and Market Share (2018-2019)
Table 35. Nissan Motor Corporate Information, Location and Competitors
Table 36. Nissan Motor X-by-Wire Systems Major Business
Table 37. Nissan Motor X-by-Wire Systems Total Revenue (USD Million) (2017-2018)
Table 38. Nissan Motor SWOT Analysis
Table 39. Nissan Motor X-by-Wire Systems Product and Solutions
Table 40. Nissan Motor X-by-Wire Systems Revenue (USD Million), Gross Margin and Market Share (2018-2019)
Table 41. Global X-by-Wire Systems Revenue (Million USD) by Players (2015-2020)
Table 42. Global X-by-Wire Systems Revenue Share by Players (2015-2020)
Table 43. Global X-by-Wire Systems Revenue (Million USD) by Regions (2015-2020)
Table 44. Global X-by-Wire Systems Revenue Market Share by Regions (2015-2020)
Table 45. North America X-by-Wire Systems Revenue by Countries (2015-2020)
Table 46. North America X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Table 47. Europe X-by-Wire Systems Revenue (Million USD) by Countries (2015-2020)
Table 48. Asia-Pacific X-by-Wire Systems Revenue (Million USD) by Countries (2015-2020)
Table 49. South America X-by-Wire Systems Revenue by Countries (2015-2020)
Table 50. South America X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Table 51. Middle East and Africa X-by-Wire Systems Revenue (Million USD) by Countries (2015-2020)
Table 52. Middle East and Africa X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Table 53. Global X-by-Wire Systems Revenue (Million USD) by Type (2015-2020)
Table 54. Global X-by-Wire Systems Revenue Share by Type (2015-2020)
Table 55. Global X-by-Wire Systems Revenue Forecast by Type (2021-2025)
Table 56. Global X-by-Wire Systems Revenue by Application (2015-2020)
Table 57. Global X-by-Wire Systems Revenue Share by Application (2015-2020)
Table 58. Global X-by-Wire Systems Revenue Forecast by Application (2021-2025)
Table 59. Global X-by-Wire Systems Revenue (Million USD) Forecast by Regions (2021-2025)
List of Figures
Figure 1. X-by-Wire Systems Picture
Figure 2. Global X-by-Wire Systems Revenue Market Share by Type in 2019
Figure 3. Shift-by-Wire Picture
Figure 4. Throttle-by-Wire Picture
Figure 5. Active Suspension Picture
Figure 6. Electronic Park Brake Picture
Figure 7. X-by-Wire Systems Revenue Market Share by Application in 2019
Figure 8. Passenger Car Picture
Figure 9. Commercial Vehicle Picture
Figure 10. Global X-by-Wire Systems Revenue (USD Million) and Growth Rate (2015-2025)
Figure 11. North America X-by-Wire Systems Revenue (Million USD) and Growth Rate (2015-2025)
Figure 12. Europe X-by-Wire Systems Revenue (Million USD) and Growth Rate (2015-2025)
Figure 13. Asia-Pacific X-by-Wire Systems Revenue (Million USD) and Growth Rate (2015-2025)
Figure 14. South America X-by-Wire Systems Revenue (Million USD) and Growth Rate (2015-2025)
Figure 15. Middle East and Africa X-by-Wire Systems Revenue (Million USD) and Growth Rate (2015-2025)
Figure 16. Global X-by-Wire Systems Revenue (Million USD) and Growth Rate (2015-2025)
Figure 17. Global X-by-Wire Systems Revenue Share by Players in 2019
Figure 18. Global Top 5 Players X-by-Wire Systems Revenue Market Share in 2019
Figure 19. Global Top 10 Players X-by-Wire Systems Revenue Market Share in 2019
Figure 20. Key Players Market Share Trend
Figure 21. Global X-by-Wire Systems Revenue (Million USD) and Growth Rate (%) (2015-2020)
Figure 22. Global X-by-Wire Systems Revenue Market Share by Regions (2015-2020)
Figure 23. Global X-by-Wire Systems Revenue Market Share by Regions in 2018
Figure 24. North America X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 25. Europe X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 26. Asia-Pacific X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 27. South America X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 28. Middle East and Africa X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 29. North America X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Figure 30. North America X-by-Wire Systems Revenue Market Share by Countries in 2019
Figure 31. USA X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 32. Canada X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 33. Mexico X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 34. Europe X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Figure 35. Europe X-by-Wire Systems Revenue Market Share by Countries in 2019
Figure 36. Germany X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 37. UK X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 38. France X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 39. Russia X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 40. Italy X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 41. Asia-Pacific X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Figure 42. Asia-Pacific X-by-Wire Systems Revenue Market Share by Countries in 2019
Figure 43. China X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 44. Japan X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 45. Korea X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 46. India X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 47. Southeast Asia X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 48. South America X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Figure 49. South America X-by-Wire Systems Revenue Market Share by Countries in 2019
Figure 50. Brazil X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 51. Argentina X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 52. Middle East and Africa X-by-Wire Systems Revenue Market Share by Countries (2015-2020)
Figure 53. Middle East and Africa X-by-Wire Systems Revenue Market Share by Countries in 2019
Figure 54. Saudi Arabia X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 55. UAE X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 56. Egypt X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 57. South Africa X-by-Wire Systems Revenue and Growth Rate (2015-2020)
Figure 58. Global X-by-Wire Systems Revenue Share by Type (2015-2020)
Figure 59. Global X-by-Wire Systems Revenue Share by Type in 2019
Figure 60. Global X-by-Wire Systems Market Share Forecast by Type (2021-2025)
Figure 61. Global Shift-by-Wire Revenue Growth Rate (2015-2020)
Figure 62. Global Throttle-by-Wire Revenue Growth Rate (2015-2020)
Figure 63. Global Active Suspension Revenue Growth Rate (2015-2020)
Figure 64. Global Electronic Park Brake Revenue Growth Rate (2015-2020)
Figure 65. Global X-by-Wire Systems Revenue Share by Application (2015-2020)
Figure 66. Global X-by-Wire Systems Revenue Share by Application in 2019
Figure 67. Global X-by-Wire Systems Market Share Forecast by Application (2021-2025)
Figure 68. Global Passenger Car Revenue Growth Rate (2015-2020)
Figure 69. Global Commercial Vehicle Revenue Growth Rate (2015-2020)
Figure 70. Global X-by-Wire Systems Revenue (Million USD) and Growth Rate Forecast (2021-2025)
Figure 71. Global X-by-Wire Systems Revenue (Million USD) Forecast by Regions (2021-2025)
Figure 72. Global X-by-Wire Systems Revenue Market Share Forecast by Regions (2021-2025)
Figure 73. North America X-by-Wire Systems Revenue Market Forecast (2021-2025)
Figure 74. Europe X-by-Wire Systems Revenue Market Forecast (2021-2025)
Figure 75. Asia-Pacific X-by-Wire Systems Revenue Market Forecast (2021-2025)
Figure 76. South America X-by-Wire Systems Revenue Market Forecast (2021-2025)
Figure 77. Middle East and Africa X-by-Wire Systems Revenue Market Forecast (2021-2025)
Figure 78. Sales Channel: Direct Channel vs Indirect Channel