(MENAFN- PR Newswire) NEW YORK, July 13, 2023 /PRNewswire/ -- The
automotive on-board diagnostics (obd) market
size is forecast to increase by
USD 35,638.36 million from 2022 to 2027, at a CAGR of 18.29% , according to a recent market study by Technavio. The growth of the market will be driven by the Increase in the adoption of usage-based insurance (UBI) using OBD as a measurement parameter, the Increase in electronic content in vehicles, and Regulations mandating OBD systems.
Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. download the sample report continue reading
Technavio has announced its latest market research report titled Global Automotive On-board Diagnostics (OBD) Market 2023-2027
Technavio has extensively analyzed 15 major vendors, including
Autel Intelligent Technology Co., AVL DiTEST GmbH, Bridgestone Corp, Continental AG, General Motors Co, Hearst Communications Inc., 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., Zubie Inc., Dashboard Labs Corps., Denso Corp., and HELLA GmbH and Co. KG.
Key Benefits for Industry Players & Stakeholders –
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology. It also provides detailed analyses of the market's competitive landscape and vendors' product offerings. The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH. Furthermore, market adoption rates for all regions have been covered.
Get a holistic overview of the Automotive On-board Diagnostics
by industry experts to evaluate and develop growth strategies.
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Automotive On-board Diagnostics (OBD) Market -
market Segmentation
The market is segmented by 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).
The market share growth by the
allied services segment
will be significant during the forecast period.
The industry's requirement to handle breakdowns with the lowest downtime is the key to maintaining competition in the fleet industry.
By using remote diagnostics solutions, this can be significantly achieved. Furthermore, the need to comply with vehicle emission standards is important as these are subject to frequent verifications by authorities of regulatory and pollution control. Remote vehicle diagnostics can inform fleet managers of
any deviations in emissions from the fleet, which makes it feasible to organize supervision only when and as needed.
Automotive On-board Diagnostics (OBD) Market
- Market Dynamics
Key Driver
The growing range of consumer needs and OEM offerings, including safety, performance, stability, and comfort, are the major factors
driving the
growth of the automotive on-board diagnostics
market.
This market has exceeded the development of the automotive industry as traditional mechanical components are inadequate to solve arising automotive challenges. Notable characteristics distinguish products and are largely possible through electronic components. The
intensity of software implementation in vehicular systems will increase as the electrification of the automobile becomes inevitable.
This will broaden the range of functions and applications of telematics. The increasing adoption of technologies by end-users will increase electronic content in cars and commercial vehicles. Rules and policies insist on the deployment of cutting-edge driver-assistance systems and safety systems in entry-level vehicles, as well as exceptional development in green technology.
Significant Trend
The shift in focus of OBD manufacturers from OBD terminals to software interfaces is an emerging trend influencing market growth.
The market is witnessing significant innovations in the field of embedded software to enhance connectivity concepts and user experience of OBD systems. Software developers are exploring cloud platforms and big data analytics to interpret data provided by the OBD systems for greater accuracy.
OBD system manufacturers are more inclined toward investing in software that will provide end-to-end solutions for preventive maintenance through the connected car concept. The connected car concept allows the software to extract, analyze, and transmit data from the vehicle's OBD system to the driver's server-side endpoints in any format requested, enabling the driver to easily integrate vehicle, accelerometer, and location data into mobile applications.
Major Challenge
Security issues associated with On-board Diagnostics are
major challenges hindering the growth. Different embedded systems in the vehicles help in gathering different sets of information about the vehicle. However, there is a security issue associated with devices such as OBD. This device is increasingly gaining popularity and is used by consumers, fleet managers, and insurance companies to access vehicle-related data. However, this device is susceptible to hacking and is, therefore, a security concern for the users.
It was found that mostly these devices pass the serial data from a radio interface such as Bluetooth, Wi-Fi, or cellular to the OBD-II port of the car and then to the vehicle's CAN bus. If the data sent is not protected, the hacker can have control of the device and can send any command that will affect the working mechanism of the vehicle, such as the brakes or safety system, or accelerator, that will endanger the vehicle.
For instance, research was conducted by the Department of Transportations' Volpe Centre to study the influence of aftermarket OBD (OBD-II) devices on cybersecurity, which was found to be significantly low. Therefore, the security concerns associated will impact the market growth.
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What are the key data covered in this Automotive On-board Diagnostics (OBD) Market report?
CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the Automotive On-board Diagnostics (OBD) Market between 2023 and 2027 Precise estimation of the size of the Automotive On-board Diagnostics (OBD) Market size and its contribution to the market in focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the Automotive On-board Diagnostics (OBD) Market industry across North America, APAC, Europe, Middle East and Africa, and South America A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of Automotive On-board Diagnostics (OBD) Market vendors
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Automotive On-board Diagnostics (OBD) Market Scope |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 18.29% |
Market growth 2023-2027 | USD 35,638.36 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 17.52 |
Regional analysis | North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution | North America at 32% |
Key countries | US, China, Japan, Germany, and the UK |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Autel Intelligent Technology Co., AVL DiTEST GmbH, Bridgestone Corp, Continental AG, General Motors Co, Hearst Communications Inc., 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., Zubie Inc., Dashboard Labs Corps., Denso Corp., and HELLA GmbH and Co. KG |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |