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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Fuel Cell Market size worth $25.5bn by 2024 On-board Diagnostics Aftermarket to reach USD 1.5 billion by 2024: Global Market Insights Inc.
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com OBD Aftermarket was estimated at over USD 500 million in 2017, and OBD Aftermarket size is set to exceed USD 1.5 billion by 2024. The increasing emphasis on developing connected vehicle solutions and the growing adoption of IoT technology in the automobile sector are driving the growth of the OBD aftermarket. The increase in vehicle production, particularly LCVs and HCVs, has generated the demand for more stringent emission control standards. The government agencies around the world have implemented stringent emission control regulations to combat the increasing impact of air pollution on the environment. The increasing complexities in vehicles have generated the need to have more robust remote diagnostics solutions. Remote diagnostics technology is also gaining more popularity as it provides the vehicle owners and technicians with the real-time information about the vehicle’s status and helps in the effective monitoring of vehicle components remotely. Key Insights from On-board Diagnostics Aftermarket:
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com The passenger vehicles segment held a dominant share of over 40% in 2017 in the global OBD aftermarket. The increased production of passenger vehicles, particularly in the U.S. and China, is majorly contributing to the adoption of OBD telematics solutions in the segment. According to the American Auto Council, the U.S. auto production is expected to exceed 12 million vehicles per year through 2019 and reach 13 million by 2020. As it has been made mandatory by government institutions in various countries to have OBD compatibility for passenger vehicles, the segment is projected to grow consistently during the forecast timeline. The hardware segment held a majority share of over 40% in the OBD aftermarket in 2017 due to the large-scale adoption of traditional OBD scanners such as scan tools and code readers to access the vehicle’s OBD port. These scanners act as an interface to provide users with the vehicles’ engine-related parameters. However, with the emergence of OBD dongles, additional information, such as driver behavior analytics and remote diagnostics, can be effectively extracted from vehicles. Continued...
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Europe On-board Diagnostics (OBD) Aftermarket Share, By Application, 2017
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Browse Full Market Research Report On On-board Diagnostics Aftermarket @ https://bit.ly/2M4gaEyhttps://bit.ly/2M4gaEy Request for a Sample of this Research Report @ https://bit.ly/2Q6Gq4lhttps://bit.ly/2Q6Gq4l
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com The OBD apps segment is expected to exhibit the fastest growth by 2024 at a CAGR of over 25%. The increasing penetration of smartphones and the adoption of advanced telematics technologies have triggered the demand for mobile-based apps. As the OBD apps reduce the dependency on any hardware to gather information and make it possible for the user to convert the smartphone or tablet into a portable OBD scanner for gathering diagnostic information, the demand for apps is likely to grow during the forecast timeline. These apps handle all the information collected from the OBD systems and ease the task of monitoring the vehicle parameters in the real-time, allowing the continuous monitoring of the vehicle’s status. Continued...
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Industry Coverage
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com The competition in the on-board diagnostics aftermarket is characterized by various strategic initiatives such as new-product development and partnership adopted by the global technology companies and telecom service providers to deliver innovative products and services to cater to their customers’ requirements. For instance, in June 2016, Intel, Chunghwa Telecom and SanJet Technology entered into a joint collaboration to power-connected transport platform solution. Under the partnership, the companies combined their existing capabilities to deliver UBI with customized insurance offerings based on driving behavior and car usage. Similarly, in July 2018, Bosch introduced new automotive diagnostics scan tools, ADS 325 and ADS 625. 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. Companies
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Chapter 1. Methodology & Scope 1.1. Methodology 1.1.1. Initial data exploration 1.1.2. Statistical model and forecast 1.1.3. Industry insights and validation 1.1.4. Scope 1.1.5. Definition 1.1.6. Methodology and forecast parameters 1.2. Data Sources 1.2.1. Primary 1.2.2. Secondary 1.2.2.1. Paid sources 1.2.2.2. Public sources Chapter 2. Executive Summary 2.1. OBD aftermarket industry 360º synopsis, 2013 - 2024 2.1.1. Region trends 2.1.2. Vehicle type trends 2.1.3. Component trends 2.1.3.1. Hardware trends 2.1.3.2. Software trends 2.1.3.3. Service trends Table OF Content
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