REPORT HIGHLIGHT
On-board Diagnostics (OBD) Aftermarket size was valued at USD 1,605.3 Million in 2022, expanding at a CAGR of 18.7% from 2023 to 2030.
A key factor in business growth is the widespread adoption of data-based remote car diagnostic systems due to the increasingly complex nature of automotive systems. A safety feature that enables remote control and monitoring of cars is provided by the remote diagnostic technology. Making service cycle schedules for vehicles with the aid of technology helps to reduce vehicle breakdowns and downtime. The automobile sector is progressively implementing IoT technologies to turn cars into nodes for an ecosystem of connected gadgets. The system has benefits like better safety, real-time component monitoring for vehicles, and user-friendliness. Built-in OBD systems that analyse, track, and fix automotive component flaws or problems keep an eye on these services, hence growing the market.
The high cost of OBD scanners and the lack of customer understanding of the advantages of using OBD scanners are some of the major obstacles and problems in the On-Board Diagnostics (OBD) Aftermarket industry. The market is further hampered by the OBD protocols' lack of standardization, which makes it challenging for various scanners to connect with one another.
On-board Diagnostics (OBD) Aftermarket Market- Key Insights:
- As per the analysis shared by our research analyst, the global On-board Diagnostics (OBD) Aftermarket market is estimated to grow annually at a CAGR of around 18.7% over the forecast period (2023-2030)
- The hardware industry is projected to grow at a significant rate
- Increasing vehicle complexity and stringent emission regulations are driving the demand for OBD aftermarket solutions, as they provide diagnostics and monitoring capabilities for efficient vehicle maintenance and emission compliance.
- Market players are focusing on product innovation and partnerships to develop advanced OBD aftermarket solutions, including wireless diagnostic tools, smartphone integration, and cloud-based data analytics, to meet the evolving needs of automotive technicians and DIY enthusiasts.
- On the basis of region, North America was the leading revenue generator in 2022
- During the projection period, the Asia Pacific OBD aftermarket market is anticipated to grow at the highest rate, driven by the exploding interest in smart city programmes and the rising public consciousness of passenger safety. India, China, and South Korea are emerging as the market leaders in the region as the need for automobiles is on the rise.
- Due to the rising demand for transportation and logistics services, Europe is expected to account for a sizeable portion of market revenue.
Recent Developments:
- In July 2021, CarDr.Com launched a new OBD app for automotive dealers.
- In August 2020, Teletrac Navman launched an AI-powered telematics platform that leverages cloud ecosystem that combines data collected from multiple portable devices and provides a predictive analysis over a centralized window.
Key features of the study:
- This proposed research study on On-board Diagnostics (OBD) Aftermarket market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the On-board Diagnostics (OBD) Aftermarket market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for On-board Diagnostics (OBD) Aftermarket market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the On-board Diagnostics (OBD) Aftermarket market
- Impact of COVID-19 on On-board Diagnostics (OBD) Aftermarket market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on On-board Diagnostics (OBD) Aftermarket market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the On-board Diagnostics (OBD) Aftermarket market, we have also included competitive landscape and key innovator analysis for the On-board Diagnostics (OBD) Aftermarket market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the On-board Diagnostics (OBD) Aftermarket market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global On-board Diagnostics (OBD) Aftermarket market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ON-BOARD DIAGNOSTICS (OBD) AFTERMARKET MARKET KEY PLAYERS
- ScanTool.net
- OBDLink by ScanTool
- Veepeak
- Ancel
- Bosch Automotive Service Solutions
- Innova Electronics Corporation
- Actron Tools
- Autel Intelligent Technology Corp., Ltd.
- Launch Tech Co., Ltd.
- Snap-on Incorporated
- CarShield
- BlueDriver
- FOXWELL
- Autophix
- Auterra
GLOBAL ON-BOARD DIAGNOSTICS (OBD) AFTERMARKET MARKET, BY PRODUCT TYPE
- Hardware
- PC-based Software
- Apps
- Service
GLOBAL ON-BOARD DIAGNOSTICS (OBD) AFTERMARKET MARKET, BY APPLICATION
- Consumer Telematics
- Fleet Management
- Usage-based Insurance
GLOBAL ON-BOARD DIAGNOSTICS (OBD) AFTERMARKET MARKET, BY VEHICLE TYPE
- Passenger Vehicles
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
GLOBAL ON-BOARD DIAGNOSTICS (OBD) AFTERMARKET MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA