Automotive On-Board Diagnostics Market Size to Grow by USD 34.83 billion | 36% of the growth to originate from APAC| Technavio
Wednesday, June 15, 2022
NEW YORK, June 7, 2022 /PRNewswire/ -- The Automotive On-Board Diagnostics (OBD) Market size is expected to increase by USD 34.83 billion. The growth momentum of the market will accelerate at a CAGR of 18.77%.
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The adoption of UBI using OBD as a measurement parameter is driving the growth of the automotive on-board diagnostics (OBD) market. The automotive insurance industry is expected to grow with the rise in vehicle production globally. With the increase in complexity of vehicles, automotive insurance providers are exploring options to achieve accuracy in insurance claims.
UBI is popular in Europe and the US, and insurers are making profits from this concept. The integration of telematics, along with OBD, supports in procuring adequate information. This helps in obtaining accurate data based on the usage. This also helps insurers with market pricing and the users with saving their insurance premiums. These factors are expected to drive market growth.
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The increase in cost for integration of telematics will challenge the automotive on-board diagnostics (OBD) market during the forecast period. The growth of the global automotive OBD market can be largely attributed to the market dynamics of telematics applications and services. OBD services are a part of bundled offerings of connected car services.
The market for OBD centers on the low costs (incurred by the customer and OEMs per vehicle) because such applications use the same TCU and hardware components of other connected car offerings. Therefore, a subscription pricing strategy will play a crucial role in the expansion of OBD services. However, the reluctance of the customers to pay for such a service poses a significant challenge for the market growth. Such customer attitudes prevail in the mass market segment.
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By product, the market has been segmented into allied services and OBD ports. The allied services segment will have significant market share growth during the forecast period.
By geography, the market has been segmented into North America, Europe, APAC, South America, and MEA. North America will have the highest market share growth during the forecast period. The US is the key country for the automotive on-board diagnostics (OBD) market in North America. However, market growth in this region will be slower than the growth of the market in South America, MEA, and APAC.
The feature upgrades and newer business models aimed at developing additional revenue streams for the OEMs will drive the automotive on-board diagnostics (OBD) market growth in North America during the forecast period.
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Automotive On-board Diagnostics (OBD) Market Scope
Report Coverage
Details
Page number 120
Base year 2019
Forecast period
2020-2024
Growth momentum & CAGR Accelerate at a CAGR of 18.77%
Market growth 2020-2024
$ 34.83 billion
Market structure
Fragmented
YoY growth (%) 16.71
Regional analysis
North America, Europe, APAC, South America, and MEA
Performing market contribution APAC at 36%
Key consumer countries
US, Germany, China, and Japan
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled Autel Intelligent Technology Co., Continental AG, Daimler Trucks North America LLC (Detroit Diesel Corp.), DENSO Corp.,
Innova Electronics Corp., Intel Corp., Robert Bosch GmbH, TomTom International BV, Vector Informatik GmbH, and Verizon
Communications Inc.
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 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.
Table of Contents
Executive Summary
Market Landscape
-- Market ecosystem
-- Value chain analysis
Market Sizing
-- Market definition
-- Market segment analysis
-- Market size 2020
-- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
-- Five forces summary
-- Bargaining power of buyers
-- Bargaining power of suppliers
-- Threat of new entrants
-- Threat of substitutes
-- Threat of rivalry
-- Market condition
Market Segmentation by Product
-- Market segments
-- Comparison by Product
-- Allied services - Market size and forecast 2019 - 2024
-- OBD port - Market size and forecast 2019 - 2024
-- Market opportunity by Product
Customer landscape
-- Overview
Geographic Landscape
-- Geographic segmentation
-- Geographic comparison
-- North America - Market size and forecast 2019 - 2024
-- Europe - Market size and forecast 2019 - 2024
-- APAC - Market size and forecast 2019 - 2024
-- South America - Market size and forecast 2019 - 2024
-- MEA - Market size and forecast 2019 - 2024
-- Key leading countries
-- Market opportunity by geography
-- Market drivers
-- Market challenges
-- Market trends
Vendor Landscape
-- Overview
-- Landscape disruption
Vendor Analysis
-- Vendors covered
-- Market positioning of vendors
-- Autel Intelligent Technology Co.
-- Continental AG
-- Daimler Trucks North America LLC (Detroit Diesel Corp.)
-- DENSO Corp.
-- HELLA GmbH and Co. KGaA
-- Innova Electronics Corp.
-- Intel Corp.
-- Robert Bosch GmbH
-- Vector Informatik GmbH
-- Verizon Communications Inc.
Appendix
-- Scope of the report
-- Currency conversion rates for US$
-- Research methodology
-- List of abbreviations
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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