On-Board Diagnostics (OBD) Aftermarket Market Size, Share, Trends, Value 2030

 Description

The global On-board Diagnostics (OBD) Aftermarket market size was evaluated at $2.28 billion in 2022 and is slated to hit $11.70 billion by the end of 2030 with a CAGR of nearly 22.90% between 2023 and 2030.

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The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The On-board Diagnostics (OBD) Aftermarket industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the On-board Diagnostics (OBD) Aftermarket market report explores the investor and stakeholder space to help companies make data-driven decisions.

Global On-board Diagnostics (OBD) Aftermarket: Overview

The on-board diagnostics (OBD) system aid in providing self-diagnostic operability for the engine control system. The main function of OBD is to make the driver or vehicle aware of the potential obstruction that affects the performance of the vehicles. The OBD assists the technician or the owner of the automobiles to access the health status of the sub-system of the vehicles. The OBD consists of the electronic control unit (ECU) that uses input from several sensors to supervise and control the actuators to achieve the desired performance.

Global On-board Diagnostics (OBD) Aftermarket: Growth Factors

One of the major factors driving the growth of the global on-board diagnostics (OBD) aftermarket is the rapid proliferation of the automobile sector across the world. There is a significant increase in the demand for the efficient vehicle management system among consumers owing to the convenient and instant repair process. The growing complexity in the designs and making of vehicle systems has fueled the demand for remote vehicle diagnostic functions coupled with the data driven technology. Remote diagnostic technology aids in safety mechanisms that allow the monitoring and controlling of the vehicles using the remote operator. The global on-board diagnostics (OBD) aftermarket is growing exponentially due to the increasing adoption of the in-built and on-board diagnostic systems to monitor, analyze, and rectify the issues or faults in the components of the vehicles. The wide spectrum adoption of IoT to develop smart cars for moving and actively providing health status of the component of the vehicle will further drive the market growth.

Global On-board Diagnostics (OBD) Aftermarket: Segmentation

The global on-board diagnostics (OBD) aftermarket can be segmented into applications, vehicle type, component, and region.

By application, the market can be segmented into usage-based insurance, car sharing, fleet management, and consumer telematics. The consumer telematics segment holds hegemony over others due to the growing popularity of OBD for precise estimation of insurance premiums on the basis of driver behavior and vehicle usage. Vehicles well-equipped with telematics allow insurance advisors to have the correct information to rate the premiums of the drivers like on-road activity like cornering and braking acceleration or speed.

By vehicle type, the market can be segmented into heavy commercial vehicles, light commercial vehicles, and passenger vehicles. The passenger vehicles account for the largest share in the global on-board diagnostics (OBD) aftermarket due to the surge in number of passenger cars and growing adoption of OBD tools for scanning the engine and sub-component of vehicles.

By component, the market can be segmented into service, software, and hardware. The hardware segment dominates the global on-board diagnostics (OBD) aftermarket due to the increasing traction of people to the OBD dongles coupled with telematics capabilities like OEMs and insurance advisory to promote pay-you-as-you-drive (PAYD) based insurance premium payments. The hardware segment can further be bifurcated into OBD dongles and OBD scanners.

Global On-board Diagnostics (OBD) Aftermarket: Competitive Players

The market is witnessing several strategic alliances among the various leading players to launch new products coupled with added functionality to make profits and increase the customer base by expanding the geographical market.

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Some of the significant players in the global on-board diagnostics (OBD) aftermarket are Xirgo Technologies, Inc., Verizon Communications, Vector Informatik, TomTom International BV., Metromile, Mojio, Magneti Marelli S.p.A., Intel Corporation, Innova, Geotab Inc., ERM Electronic Systems LTD, Danlaw, Inc., Continental AG, CalAmp, Bosch Diagnostics, Azuga, AVL Digest, Automatic Labs, and Autel Intelligent Technology Corp., Ltd.

Global On-board Diagnostics (OBD) Aftermarket: Regional Analysis

North America accounts for the largest share in the global on-board diagnostics (OBD) aftermarket due to the rapid technological advancements in the automobile sector, especially in OBD. The growing disposable income of the people also contributes significantly to the growth of the regional market.

Europe is anticipated to witness huge growth with high CAGR during the forecast period due to the growing stringent rule and regulations of the governments regarding the vehicle's safety.

Asia Pacific is also expected to foresee huge growth due to the growing technological advancements and the presence of prominent players in the region.

On-board Diagnostics (OBD) Aftermarket Market: Competitive Space

The global On-board Diagnostics (OBD) Aftermarket market profiles key players such as:

  • Xirgo Technologies, Inc
  • Verizon Communications
  • Vector Informatik
  • TomTom International BV
  • Metromile
  • Mojio
  • Magneti Marelli S.p.A.
  • Intel Corporation
  • Innova
  • Geotab Inc
  • ERM Electronic Systems LTD
  • Danlaw, Inc
  • Continental AG
  • CalAmp
  • Bosch Diagnostics
  • Azuga
  • AVL Digest
  • Automatic Labs
  • Autel Intelligent Technology Corp., Ltd

The global On-board Diagnostics (OBD) Aftermarket market is segmented as follows:

By Vehicle Type

  • Heavy commercial vehicles
  • Light commercial vehicles
  • Passenger vehicles

By Component

  • Service
  • Software
  • Hardware

By Application

  • Usage-based insurance
  • Car sharing
  • Fleet management
  • Consumer telematics

Global On-board Diagnostics (OBD) Aftermarket: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.
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