Report Ocean introduces a fresh report examining the On-board diagnostics Device Market, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the On-board diagnostics Device Market, which includes a full table of contents, over 200 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
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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.
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.
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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Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
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Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the On-board diagnostics Device market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
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Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the On-board diagnostics Device market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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