Home > Sustainable & Smart Technologies > On-board Diagnostics (OBD) Aftermarket
OBD Aftermarket industry size exceeded USD 1.5 billion in 2021 and is expected to register over 20% CAGR from 2022 to 2030.
Widespread adoption of remote vehicle diagnostic systems using data-based technology owing to the growing complexity of vehicle systems is a prominent driver for business expansion. The remote diagnostic technology delivers a safety mechanism that enables the control and monitoring of vehicles using a remote operator. The technology is utilized to make service cycle schedules for vehicles and helps in limiting vehicle downtime and breakdowns.
To get more details on this report: Request Free Sample PDF
IoT platforms are being increasingly implemented by the automotive industry to transform vehicles into an ecosystem hub of connected devices. The setup offers advantages such as real-time vehicle component monitoring, improved safety, and a user-friendly experience. These services are monitored by built-in OBD systems which analyse, track, and resolve the faults or problems associated with vehicle components, thus expanding market size.
|Market Size in 2021:||USD 1.5 billion|
|Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||20%|
|2030 Value Projection:||USD 12 billion|
|Historical Data for:||2018 to 2021|
|No. of Pages:||319|
|Tables, Charts & Figures:||426|
|Segments covered:||Vehicle Type, Component, Application|
|Pitfalls & Challenges:|
To get details on how to order this report click here
To tailor this report to your specific requirements: Customize this Report
The passenger vehicle segment accounted for around 40% of the OBD aftermarket share in 2021. This can be credited to the increasing production of passenger cars equipped with OBD systems that can scan the engine and sub-components of vehicles. According to the Society of Indian Automobile Manufacturers (SIAM), above 3,650,698 passenger vehicles were produced in the year 2021-22 as compared to 3,062,280 in 2020-21.
Based on component, the software segment is anticipated to exhibit a growth rate of around 25% through 2030, due to the rapid rise in the usage of smartphones for gathering vehicular diagnostic data. The software segment is further divided into PC-based OBD Scanning Tools and Apps (OBD Telematics Platforms). The OBD Apps segment is poised to attain approximately 30% gains till 2030 owing to technological advancements and the growing integration of smartphone apps and vehicles. Automakers are offering remote vehicle monitoring services on smartphones to enable users to control ride settings and other vehicle functions.
The OBD aftermarket demand from the software component will experience a dynamic growth trajectory in the United States through 2030. Many car makers from the region are offering smartphone apps to enable users to monitor their vehicles.
The consumer telematics segment valued at about USD 400 million in 2021, which can be credited to favourable government initiatives to promote the usage of telematics for vehicle safety.
The introduction of OBDs has resulted in the development of connected cars which has lowered the road accident fatality rate and allowed drivers to clock more miles. With a growing demand for OBD in consumer telematics, the market will observe substantial growth Up to 2030.
To check discounted pricing for this report: Request Discount
The Asia Pacific OBD aftermarket industry is projected to observe more than 25% growth rate between 2022 and 2030 led by the surging interest in smart city initiatives and growing awareness of passenger safety. With demand for vehicles witnessing an upward trend, India, China, and South Korea are emerging as the front-runners in the regional market landscape.
The Europe is poised to hold nearly 25% of the market revenue share by 2030 on account of the growing demand for transport and logistics services.
Autel Intelligent Technology Corp., Ltd., AVL Ditest, Azuga, Bosch Diagnostics, CalAmp, Continental AG, Danlaw, Inc., ERM Electronic Systems LTD, Geotab Inc., HeLLA GmbH & Co. KGaA, Innova Electronics Corporation, Intel Corporation, Magneti Marelli S.p.A., Metromile, Mojio, TomTom International BV., Vector Informatik, Verizon Communications, and Xirgo Technologies, Inc. are among the key players operating in the OBD aftermarket.
The automotive sector witnessed an immense downturn during the COVID-19 pandemic. Vehicle sales reduced to record low figures in the initial months of 2020. Furthermore, many production plants in China were shut down during the pandemic, impacting OBD development.
The global market is recovering gradually, with countries reopening borders and resuming business operations. However, companies will have to devise strategies like mergers and acquisitions to sustain during the initial years of recovery.
Interested in buying sections of the report? Contact our sales team by clicking here.
Analysis, By Component
Analysis, By Vehicle Type
Analysis, By Application
The above information has been provided for the following regions and countries: