Automotive On-board Diagnostics (OBD) Market: Driver
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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Automotive On-board Diagnostics (OBD) Market: Challenge
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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Automotive On-board Diagnostics (OBD) Market: Segmentation Analysis
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 |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.77% |
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Market growth 2020-2024 |
$ 34.83 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
16.71 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
APAC at 36% |
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Key consumer countries |
US, Germany, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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. |
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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 recovery analysis and future consumer dynamics, Market condition analysis for 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. |
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
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
About Technavio
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.
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SOURCE Technavio
