The global On-board Diagnostics (OBD) Aftermarket market was valued at USD 1.4 billion in 2021 and it is anticipated to grow up to USD 14.8 billion by 2031, at a CAGR of 26.6% during the forecast period.
OBD aftermarket Market is a term used to describe the growing industry of companies that offer OBD-related products and services. These products and services can include anything from OBD scanners and software to OBD-related repairs and diagnostics. The OBD aftermarket is a rapidly growing industry, due in part to the increasing popularity of OBD-equipped vehicles. As more and more people become aware of the benefits of OBD-equipped vehicles, the demand for OBD products and services is expected to continue to grow.
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Market Trends and Drivers
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.
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.
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Global On-board Diagnostics (OBD) Aftermarket Market Segmentation
By Component
- Hardware
- Software
- Services
By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
By Application
- Consumer Telematics
- Fleet Management
- Car Sharing
- Usage-based Insurance (UBI)
Major Players in the Global On-board Diagnostics (OBD) Aftermarket Market
The key players in the on-board diagnostics (OBD) aftermarket market Autel Intelligent Technology Corp., Ltd., AVL Ditest, Azuga, Bosch Diagnostics, CalAmp, Continental AG, Danlaw, Inc., ERM Electronic Systems LTD, Geotab Inc., HeLLA GmbH & Co. among others.
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