NEW
YORK, June 26, 2024 /PRNewswire/ -- The
global automotive on-board diagnostics (OBD) market size
is estimated to grow by USD
62.49 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 24.27%
during the forecast period. Increase in adoption of
usage-based insurance (UBI) using OBD as measurement
parameter is driving market growth, with a trend
towards growing focus on remote diagnostics.
However, increase in cost for integration of telematics
poses a challenge. Key market players include Autel
Intelligent Technology Co., AVL DiTEST GmbH, Bridgestone Corp.,
Continental AG, Dashboard Labs Corps., DENSO Corp., General Motors
Co., Hearst Communications Inc., HELLA GmbH and Co. KGaA, Innova
Electronics Corp., Intel Corp., iWave Systems Technologies Pvt.
Ltd., Marelli Holdings Co. Ltd., Mercedes Benz Group AG, Moj.io
Inc., OBD Solutions LLC, Robert Bosch GmbH, Vector Informatik GmbH,
Verizon Communications Inc., and Zubie Inc..
![Technavio has announced its latest market research report titled Global automotive on-board diagnostics (OBD) market 2024-2028 Technavio has announced its latest market research report titled Global automotive on-board diagnostics (OBD) market 2024-2028](https://mma.prnewswire.com/media/2447402/Global_automotive_on_board_diagnostics_market_Infographic.jpg)
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Allied
services and OBD port), Vehicle Type (IC engine and Electric
vehicle), and Geography (North America, APAC, Europe, Middle East
and Africa, and South America)
|
Region
Covered
|
North America, APAC,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Autel Intelligent
Technology Co., AVL DiTEST GmbH, Bridgestone Corp., Continental AG,
Dashboard Labs Corps., DENSO Corp., General Motors Co., Hearst
Communications Inc., HELLA GmbH and Co. KGaA, Innova Electronics
Corp., Intel Corp., iWave Systems Technologies Pvt. Ltd., Marelli
Holdings Co. Ltd., Mercedes Benz Group AG, Moj.io Inc., OBD
Solutions LLC, Robert Bosch GmbH, Vector Informatik GmbH, Verizon
Communications Inc., and Zubie Inc.
|
Key Market Trends Fueling Growth
The Automotive On-Board Diagnostics (OBD) market involves remote
systems that detect vehicle faults and transmit trouble codes to
data centers. These data centers interpret the data and send it to
drivers or technicians for preventive maintenance and scheduled
service cycles. This reduces vehicle downtime and breakdowns,
making remote diagnostics a valuable tool. Its popularity among
fleet operators of passenger and commercial vehicles is increasing
and is expected to continue during the forecast period.
The Automotive On-Board Diagnostics (OBD) market is experiencing
significant growth due to the increasing demand for vehicle
efficiency and emissions reduction. Wireless technologies, such as
Bluetooth and Wi-Fi, are trending in the OBD market, enabling
real-time vehicle monitoring and analysis. Components like OBD
sensors, gateways, and software are driving the market's growth.
Devices are becoming more compact and cost-effective, making them
accessible to a broader consumer base. The market is also
witnessing the integration of advanced features like predictive
maintenance and vehicle tracking. OEMs and aftermarket players are
investing in R&D to offer innovative solutions to cater to the
evolving customer needs. The market is expected to continue its
upward trajectory in the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global automotive OBD market expansion relies heavily on
telematics applications and services. OBD services are often
included in bundled connected car offerings, utilizing the same TCU
and hardware components. Subscription pricing is essential for
market growth, and OEMs should offer OBD systems alongside other
connected car services. However, customer reluctance to pay for
these services, particularly in the mass market segment, poses a
challenge. Effective business models are necessary to encourage
user adoption and promote the value of connected car offerings
within the complex value chain.
- The Automotive On-Board Diagnostics (OBD) market faces several
challenges. One major challenge is the increasing complexity of
vehicles, requiring advanced diagnostic tools to identify and
repair issues. Another challenge is the need for standardization
across different vehicle makes and models. Additionally, the rapid
evolution of technology necessitates continuous updates to
diagnostic software. Furthermore, data security and privacy
concerns arise as vehicles become more connected. Lastly, the
global nature of the market necessitates compliance with various
regulations in different regions. Addressing these challenges
requires continuous innovation and collaboration among industry
players.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This automotive on-board diagnostics (obd) market report
extensively covers market segmentation by
- Product
- 1.1 Allied services
- 1.2 OBD port
- Vehicle Type
- 2.1 IC engine
- 2.2 Electric vehicle
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Allied services- The Automotive On-Board
Diagnostics (OBD) market refers to the sales and installation of
diagnostic systems used in vehicles. These systems enable mechanics
to identify and repair issues efficiently, enhancing vehicle
performance and reducing downtime. The OBD market continues to grow
due to increasing vehicle production and the demand for advanced
diagnostic tools. Manufacturers focus on developing user-friendly
systems with easy connectivity to ensure seamless integration with
various vehicle models.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
In the Information Age, the Automotive On-Board Diagnostics
(OBD) market has experienced significant growth, particularly in
the Wireless Communications sector. This technology is increasingly
being utilized in In-Vehicle Electronics, including Location
Technology, to enhance Insurance offerings through Telematics.
Insurance carriers are leveraging OBD systems to monitor Risk
Portfolios in the Fleet Management segment. Innova Electronics'
Diagnostic Device segment caters to both Handheld and PC/Laptop
Based solutions. OBD tools facilitate Driver Behavior Monitoring,
Emission Testing, and Supplementary Instrumentation. Consumer
Telematics and Vehicle customization are also benefiting from OBD
aftermarket products. The Internet of Things (IoT) is
revolutionizing Automotive Production, leading to advancements in
Fleet management, Vehicle maintenance, and Vehicle connectivity.
Real-time data transmission and Remote Diagnostics are key features
of the Connected Car Ecosystem.
Market Research Overview
The Automotive On-Board Diagnostics (Obd) market refers to the
technology used for monitoring and diagnosing various systems in
vehicles. This system enables vehicle owners and mechanics to
identify and address issues related to emissions, fuel economy, and
vehicle performance. The Obd market consists of various components
such as sensors, diagnostic tools, and software. The market is
driven by stringent emission norms and increasing consumer
awareness towards vehicle maintenance. The Obd system is essential
for both new and old vehicles, making it a growing market. The
technology is continuously evolving, with advancements in wireless
connectivity and cloud-based diagnostics. The Obd market caters to
various vehicle types, including passenger cars, commercial
vehicles, and two-wheelers. The market is expected to grow
significantly due to the increasing demand for real-time vehicle
data and predictive maintenance solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Vehicle Type
-
- IC Engine
- Electric Vehicle
- Geography
-
- North America
- APAC
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio