Global On Board Units Market Is Predicted To Increase At An Impressive CAGR Of 14.4% During 2023-2033

The on-board units (OBUs) market refers to the industry involved in the production, distribution, and use of electronic devices known as on-board units. OBUs are typically used in transportation systems, particularly in vehicles such as cars, trucks, buses, and motorcycles, to enable various functionalities and services.

OBUs are essential components of intelligent transportation systems (ITS) and are typically installed in vehicles to provide communication, tracking, and data collection capabilities. They are commonly used for applications such as toll collection, vehicle tracking and monitoring, fleet management, electronic payment systems, and road safety.

The market for OBUs has been growing rapidly due to several factors:

1. Increasing adoption of electronic toll collection (ETC) systems: OBUs play a vital role in ETC systems by facilitating automated toll payment processes. As governments and transportation authorities worldwide shift towards cashless toll collection to improve efficiency and reduce congestion, the demand for OBUs has increased significantly.

2. Advancements in connectivity and communication technologies: The evolution of wireless communication technologies such as cellular networks, GPS, and dedicated short-range communications (DSRC) has enabled more sophisticated OBU functionalities. These advancements have expanded the market by enabling features such as real-time traffic information, emergency response systems, and vehicle-to-vehicle (V2V) communication.

3. Government regulations and initiatives: Governments across the globe are implementing regulations and initiatives to improve transportation systems' efficiency, safety, and environmental sustainability. These include mandates for ETC systems, smart city initiatives, and the promotion of connected vehicle technologies. Such initiatives drive the demand for OBUs in vehicles.

4. Growing emphasis on smart transportation and mobility solutions: With the increasing focus on smart cities and sustainable transportation, there is a rising demand for intelligent transportation systems. OBUs are a crucial component of these systems, enabling efficient traffic management, improved mobility, and enhanced safety.
The OBU market consists of both original equipment manufacturers (OEMs) and aftermarket players. OEMs integrate OBUs into new vehicles during the manufacturing process, while aftermarket providers offer retrofit solutions for existing vehicles. Key players in the market include technology companies, automotive electronics manufacturers, and solution providers specializing in transportation and mobility.

Overall, the OBU market is expected to continue growing as transportation systems evolve, smart cities expand, and the demand for efficient and connected mobility solutions increases.

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Key findings of the On-Board Units market study:

• The report provides a present market outlook on On-Board Units. Additionally, the On-Board Units market share is anticipated to grow with a CAGR of 14.4% in the forecast period.
• Regional breakdown of the On-Board Units market based on predefined taxonomy.
• Innovative manufacturing processes implemented by On-Board Units vendors in detail.
• Region-wise and country-wise fragmentation of the On-Board Units market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global On-Board Units market.
• On-Board Units price, market share, and Trends forecast for assessment period 2023-2033

Which Application of On Board Units Brings in High Revenue Streams for Market Players?

The biggest market share for on board units is estimated to be accounted for by vehicle-to-vehicle communication over the projected timeframe. Vehicle-to-vehicle (V2V) communication's capacity to wirelessly transmit data on the speed and location of close-by vehicles has great promise for assisting in the avoidance of collisions, easing traffic congestion, and improving the environment.
Academic institutions and the automobile industry have been expanding the lifesaving potential of V2V communication for more than ten years using these on board devices. These V2V communication signals have a range of more than 300 metres and can identify threats that are obscured by weather, geography, or traffic.
Increasing regulations by governments in different regions has led to significant growth of the on board units market. By application, vehicle-to-vehicle communication is estimated to reach a market valuation of US$ 1.5 billion in 2023.

Competitive landscape analysis

To keep ahead of the competition, market participants are attempting to adopt more modern technology. Strategic partnerships, product launches, collaboration agreements, R&D for greater performance, and many more marketing techniques have been utilised.

Some of the leading companies operating in the market are :
• Commsignia
• Danlaw Inc
• Harman Automotive (A Samsung Company)
• Mitsubishi
• Movyon SpA
• Q Free ASA
• Solaredge Technologies Inc
• Continental AG
• Unex Technology Corporation

What insights does the On-Board Units report provide to the readers?

• On-Board Units fragmentation on the basis of product type, end use, and region.
• Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
• Collaborations, R&D projects, acquisitions, and product launches of each On-Board Units
• Various regulations imposed by the
governments on the consumption of On-Board Units in detail.

Segmentation of On Board Units Industry Research

· By Technology :
• Dedicated Short Range Communication (DSRC)
• Global Navigation Satellite Systems (GNSS)

· By Connectivity :
• Cellular Networks
• Wi-Fi
• Bluetooth

· By Application :
• Vehicle-to-Vehicle Communication
• Vehicle-to-Infrastructure Communication
• Vehicle-to-Pedestrian Communication

· By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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This release was published on openPR.