On-board Diagnostics Aftermarket Forecasts By Top Companies: Mojio, Intel, Xirgo Technologies, Azuga, Verizone, Geotab, Automatic Labs, Continental, Tom Tom, Magneti Marelli, Danlaw, CalAmp, Metromile, ERM Telematics
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Global Onboard Diagnostics (OBD) aftermarket is projected to surpass USD 1.5 billion by 2024. Onboard diagnostics refers to a vehicles self-diagnostics and reporting capabilities. The technology facilitates the monitoring and evaluation of the vehicles engine and its sub-components to ensure that all components are functioning properly. Vehicle owners and the car technicians use OBD devices to gain access to a real-time status of the vehicle subsystems. A simple OBD system consists of various sensors that collect the data from various vehicle components, refine, and process this data to gain valuable insights, that further aid in the diagnosis and repair of faulty components. These systems are currently being used with telematics that enables vehicle owners to detect issues such as low performance, and heavy emissions along with the real-time driver behavior.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
3. Xirgo Technologies
7. Automatic Labs
9. Tom Tom
10. Magneti Marelli
14. ERM Telematics
The automotive industry uses two types of OBD hardware devices, viz., OBD scanners and OBD dongles. The scanners are more like code readers or scan tools that read codes from any vehicle equipped with OBD II. The OBD dongles are gaining more popularity among fleet managers. The dongle is a visible accessory that can be connected to the driver?s smartphone, plugged directly into the OBD II port, and can also be connected in an effortless way to a network. As these devices can be independently used and do not require any wired connection, the demand for dongles is projected to grow swiftly over the forecast timeline.
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On-board Diagnostics aftermarket is projected to register a lucrative growth at a CAGR of over 17% between 2018 and 2024. The growth can be attributed to the factors such as an increase in vehicle production and the growing need to implement emission control norms and regulations to tackle air pollution. The significant investments made by the automotive manufacturers and the aftermarket service providers around the globe are contributing to an increasing demand for the development of connected vehicles. The rapid growth of the automobile industry has forced the manufacturers to offer more robust OBD devices, particularly for light-duty and heavy-duty vehicles.
The fleet management segment dominated the On-board diagnostics aftermarket in 2017 with a market share of over 45% and is expected to maintain the dominance throughout the forecast period. The use of OBD in the fleet management software offers effective management of fleet operations and provides access to the real-time data regarding the vehicle’s location. It also monitors the driving patterns and helps in early diagnosis and mitigation of any malfunction in the vehicle components. With the significant growth in the electric vehicle technology, the demand for OBD telematics systems for managing and controlling the vehicle components is expected to increase significantly. The fleet management software in electric vehicles helps in increasing the fleet efficiency and reducing the operational costs.
The software market is estimated to register the fastest growth between 2018 and 2024 with a CAGR of over 20% in the OBD aftermarket due to the rapid adoption of OBD telematics platforms for commercial vehicles. The increased penetration of smartphones and a widespread deployment of cloud technology are the driving forces behind the market growth. The cloud-based platforms enable users to easily access the diagnostics data as these platforms provide a simple and cost-effective way to manage the massive amount of data generated from OBD devices. A cloud-native approach reduces the dependency on traditional PC-based OBD scanning models, thereby fueling the demand for handy vehicle maintenance and diagnostics apps.
Browse key industry insights spread across 210 pages with 331 market data tables & 27 figures & charts from the report, “On-board Diagnostics (OBD) Aftermarket in detail along with the table of contents:
North America held a major share of the OBD aftermarket in 2017. The proliferation of OBD dongle-based solutions is estimated to grow at a faster pace in the region between 2018 and 2024. The automobile sector in this region continues to record a steady growth due to the high penetration of advanced technologies in the transportation systems and the increased momentum of autonomous vehicles.
Asia Pacific On-board Diagnostics Aftermarket is estimated to register the fastest growth at a CAGR of over 20% from 2018 to 2024 due to the rapid growth in the automobile industry, particularly in China, India, and Japan. With huge investments by domestic and global auto players in the region, the market is projected to grow swiftly during the forecast timeline. Similarly, in July 2018, Tesla planned to open a new electric car production plant in Shanghai to produce 500,000 cars a year. Due to a speedy growth in the automobile sector, the demand for OBD devices to tackle and diagnose the faulty emission-control systems is projected to increase during the forecast period.
Some of the key players operating in the OBD aftermarket are Automatic Labs, Continental, Tom Tom, Magneti Marelli, Danlaw, CalAmp, Metromile, ERM Telematics, Mojio, Intel, Xirgo Technologies, Azuga, Verizone, Geotab, Vector Informatik, AVL Ditest, Autel, and Bosch Diagnostics.
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