NEW YORK, Dec. 13, 2021 /PRNewswire/ — The heavy-duty trucks on-board diagnostics system market report offers information on several market vendors, including ACTIA Group, AVL DiTEST GmbH, Continental AG, Daimler AG, Moj.io Inc., Robert Bosch GmbH, Vector Informatik GmbH, Vidiwave Ltd., ZF Friedrichshafen AG, and Zubie Inc. among others. The Heavy-duty Trucks On-board diagnostics system market is expected to grow by USD 73.50 million from 2020 to 2025, progressing at a CAGR of 3.09% as per the latest report by Technavio.
Heavy-duty Trucks On-board Diagnostics System Market: Driver & Challenge
Need to reduce total cost of ownership (TCO) of vehicles for fleet operators to drive growth
The key factor driving growth in the heavy-duty trucks on-board diagnostics system market is the need to reduce the total cost of ownership (TCO) of vehicles for fleet operators. Rising cost pressure due to fluctuations in fuel prices and inefficient fleet operations has become crucial challenges for fleet operators to tackle. For efficient cost management, fleet operators are adopting cost optimization strategies that allow them to reduce the TCO to an extent. Innovations and improvements to the vehicle engine can help optimize fuel consumption and enhance fleet management efficiency. As OBD helps monitor vehicle components, the data generated by each component is a valuable source of information to improve the component’s design parameters.
High cost of vehicle telematics services to impede market
The high cost of vehicle telematics services will be a major challenge for the heavy-duty trucks on-board diagnostics system market during the forecast period. Initial costs of setting up telematics include license, setup and installation fee, and payment for customization and integration with current systems. OBD systems are used by vehicle owners to keep emissions under check and for preventive maintenance. The system is also used by technicians from repair and service stations. Due to expensive material costs and new innovative technologies, the cost of manufacturing an OBD system has increased considerably. The high cost of automobile-embedded telematics makes it difficult for manufacturers to keep their product prices low.
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Heavy-duty Trucks On-board Diagnostics System Market: Segmentation Analysis
This market research report segments the heavy-duty trucks on-board diagnostics system market by Gross vehicle weight rating (Class 8 and Class 7) and Geography (North America, APAC, Europe, South America, and MEA).
57% of the market’s growth will originate from North America during the forecast period. The US is the key market for heavy-duty truck on-board diagnostics systems in North America. Market growth in North America will be faster than the growth of the market in other regions. The growing need for fuel efficiency will facilitate the heavy-duty trucks on-board diagnostics system market growth in North America over the forecast period.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Heavy-duty Trucks On-board Diagnostics System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.09% |
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Market growth 2021-2025 |
USD 73.50 million |
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Market structure |
Concentrated |
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YoY growth (%) |
2.75 |
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Regional analysis |
North America, APAC, Europe, South America, and MEA |
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Performing market contribution |
North America at 57% |
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Key consumer countries |
US, Germany, China, Japan, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
ACTIA Group, AVL DiTEST GmbH, Continental AG, Daimler AG, Moj.io Inc., Robert Bosch GmbH, Vector Informatik GmbH, Vidiwave Ltd., ZF Friedrichshafen AG, and Zubie Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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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. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
