Automotive On-board Diagnostics (OBD) Market to Reach USD 34.83 bn by 2024, Autel Intelligent Technology Co. and Continental AG Emerge as a Key Contributors to Growth| Technavio
LONDON--(BUSINESS WIRE)--Oct 5, 2020--
Technavio has been monitoring the automotive on-board diagnostics (OBD) market and it is poised to grow by USD 34.83 bn during 2020-2024, progressing at a CAGR of almost 17% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201004005009/en/
Technavio has announced its latest market research report titled Global Automotive On-board Diagnostics (OBD) Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
- What are the major trends in the market?
Growing focus on remote diagnostics is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 16.71% and the incremental growth of the market is anticipated to be $ 34.83 bn.
- Who are the top players in the market?
Autel Intelligent Technology Co., Continental AG, Daimler Trucks North America LLC (Detroit Diesel Corp.), DENSO Corp., Innova Electronics Corp., Intel Corp., Robert Bosch GmbH, TomTom International BV, Vector Informatik GmbH, and Verizon Communications Inc., are some of the major market participants.
- What is the key market driver?
The regulations mandating OBD systems are the major factors driving the market.
- How big is the APAC market?
The North America region will contribute 35% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Autel Intelligent Technology Co., Continental AG, Daimler Trucks North America LLC (Detroit Diesel Corp.), DENSO Corp., Innova Electronics Corp., Intel Corp., Robert Bosch GmbH, TomTom International BV, Vector Informatik GmbH, and Verizon Communications Inc. are some of the major market participants. The regulations mandating OBD systems will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive On-board Diagnostics (OBD) Market 2020-2024: Segmentation
Automotive On-board Diagnostics (OBD) Market is segmented as below:
- Allied Services
- OBD Port
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41436
Automotive On-board Diagnostics (OBD) Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive on-board diagnostics (obd) market report covers the following areas:
- Automotive On-board Diagnostics (OBD) Market Size
- Automotive On-board Diagnostics (OBD) Market Trends
- Automotive On-board Diagnostics (OBD) Market Industry Analysis
This study identifies the growing focus on remote diagnostics as one of the prime reasons driving the automotive on-board diagnostics (OBD) market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
Automotive On-board Diagnostics (OBD) Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive on-board diagnostics (OBD) market growth during the next five years
- Estimation of the automotive on-board diagnostics (OBD) market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive on-board diagnostics (OBD) market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive on-board diagnostics (OBD) market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Allied services - Market size and forecast 2019-2024
- OBD port - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Autel Intelligent Technology Co.
- Continental AG
- Daimler Trucks North America LLC (Detroit Diesel Corp.)
- DENSO Corp.
- Innova Electronics Corp.
- Intel Corp.
- Robert Bosch GmbH
- TomTom International BV
- Vector Informatik GmbH
- Verizon Communications Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com:https://www.businesswire.com/news/home/20201004005009/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AFTERMARKET AUTOMOTIVE GENERAL AUTOMOTIVE OTHER MANUFACTURING ALTERNATIVE VEHICLES/FUELS OTHER TRANSPORT TRUCKING ENGINEERING TRANSPORT AUTOMOTIVE MANUFACTURING MANUFACTURING OTHER AUTOMOTIVE TIRES & RUBBER RECREATIONAL VEHICLES PERFORMANCE & SPECIAL INTEREST OFF-ROAD TRUCKS & SUVS FLEET MANAGEMENT
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 10/05/2020 01:15 AM/DISC: 10/05/2020 01:15 AM