The latest On-board diagnostics Device Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global On-board diagnostics Device Market is valued at approximately USD 21.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.7% over the forecast period 2022-2029.
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On-board diagnostics Device Can be defined as an automotive electronic system that facilitates self-diagnosis and reporting capabilities of vehicles for repair technicians. An OBD device offers technicians access to subsystem information that helps in analyzing vehicle performance and repair needs. The OBD devices collect critical vehicle data based on sensors and send it to ECU (Electrical Control Unit), where the information is stored in form of a code called a Diagnostic Trouble Code. Furthermore, the DTC codes collected by the ECU can be accessed via the Diagnostic Link Connector through an external device such as computer and laptop. The increasing penetration of connected vehicles and growing adoption of electric vehicles are key factors driving the market.
With advancement in internet technology and rising adoption of smartphones the adoption of connected cars has significantly increased, creating a lucrative growth prospectus for the market over the forecast period. For instance – as per Statista – in 2021, globally connected car market reached USD 65 billion, up from USD 56 billion in 2020. It is expected that the market grow to USD 121 billion by 2025. Also, rise in the adoption of semi-autonomous & autonomous vehicles and growing penetration of IoT-based Vehicle Diagnostics Tracker would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of On-board diagnostics Devices and associated configuration complexities stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global On-board diagnostics Device Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing adoption of connected and technically advanced cars as well as dominance of leading market players in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of automotive sector as well as increasing penetration of leading market players in the region.
Major market players included in this report are:
Detroit Diesel Corporation
Zubie Inc.
Innova Electronics corp.
AVL DiTEST GmbH
Robert Bosch GmbH
Vector Informatik GmbH
Denso Corporation
Autel Intelligent Technology Corp., Ltd.
ERM Electronic Systems LTD
Verizon Communications Inc.
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Recent Developments in the Market:
In March 2019, Online automobile marketplace Droom launched an Internet of Things (IoT) device named, ECO Smart, which connects with a car’s OBD II port and tracks performance, health, and damage to the vehicle. Moreover, this device would be used by Doom’s vehicle inspectors.
Global On-board diagnostics Device Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Vehicle Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Type
Hand-held tools
Mobile-based tools
PC-based tools
Others
By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicle
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Some Questions Answered in the On-board diagnostics Device Market Report:
- What is the projected size of the global On-board diagnostics Device market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global On-board diagnostics Device industry?
- What are the major market trends that are affecting the expansion of the On-board diagnostics Device market?
- What obstacles must be overcome in order to achieve sustained growth in the On-board diagnostics Device market?
- What opportunities and threats do vendors in the global On-board diagnostics Device market face?
- What are the raw materials and manufacturing equipment used in the production of On-board diagnostics Device, and what is the manufacturing process?
- What are the different types and applications of On-board diagnostics Device, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the On-board diagnostics Device market?
- What factors are driving the growth of the On-board diagnostics Device market in the top regions worldwide?
- Who are the major players in the global On-board diagnostics Device market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the On-board diagnostics Device market?
- What are the main findings of a five forces analysis of the global On-board diagnostics Device market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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