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Global On-board diagnostics Device Market to reach USD 51.62 billion by the end of 2029

Global On-board diagnostics Device Market Size study & Forecast, by Type (Hand-held tools, Mobile-based tools, PC-based tools, Others), by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles) and Regional Analysis, 2022-2029

Product Code: HLSMDE-88179618
Publish Date: 10-04-2023
Page: 200

Global On-board diagnostics Device Market is valued at approximately USD 21.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.7% over the forecast period 2022-2029. On-board diagnostics Device Can be defined as an automotive electronic system that facilitates self-diagnosis and reporting capabilities of vehicles for repair technicians. An OBD device offers technicians access to subsystem information that helps in analyzing vehicle performance and repair needs. The OBD devices collect critical vehicle data based on sensors and send it to ECU (Electrical Control Unit), where the information is stored in form of a code called a Diagnostic Trouble Code. Furthermore, the DTC codes collected by the ECU can be accessed via the Diagnostic Link Connector through an external device such as computer and laptop. The increasing penetration of connected vehicles and growing adoption of electric vehicles are key factors driving the market.

With advancement in internet technology and rising adoption of smartphones the adoption of connected cars has significantly increased, creating a lucrative growth prospectus for the market over the forecast period. For instance – as per Statista – in 2021, globally connected car market reached USD 65 billion, up from USD 56 billion in 2020. It is expected that the market grow to USD 121 billion by 2025. Also, rise in the adoption of semi-autonomous & autonomous vehicles and growing penetration of IoT-based Vehicle Diagnostics Tracker would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of On-board diagnostics Devices and associated configuration complexities stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global On-board diagnostics Device Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing adoption of connected and technically advanced cars as well as dominance of leading market players in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of automotive sector as well as increasing penetration of leading market players in the region.

Major market players included in this report are:
Detroit Diesel Corporation
Zubie Inc.
Innova Electronics corp.
Robert Bosch GmbH
Vector Informatik GmbH
Denso Corporation
Autel Intelligent Technology Corp., Ltd.
ERM Electronic Systems LTD
Verizon Communications Inc.

Recent Developments in the Market:
 In March 2019, Online automobile marketplace Droom launched an Internet of Things (IoT) device named, ECO Smart, which connects with a car’s OBD II port and tracks performance, health, and damage to the vehicle. Moreover, this device would be used by Doom’s vehicle inspectors.

Global On-board diagnostics Device Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Vehicle Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type
Hand-held tools
Mobile-based tools
PC-based tools

By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicle

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. On-board diagnostics Device Market, by Region, 2019-2029 (USD Billion)
1.2.2. On-board diagnostics Device Market, by Type, 2019-2029 (USD Billion)
1.2.3. On-board diagnostics Device Market, by Vehicle Type, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global On-board diagnostics Device Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global On-board diagnostics Device Market Dynamics
3.1. On-board diagnostics Device Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing penetration of connected vehicles Growing adoption of electric vehicles
3.1.2. Market Challenges Complexities in configuration High deployment & maintenance cost
3.1.3. Market Opportunities Rise in adoption of semi-autonomous & autonomous vehicles Growing penetration of IoT-based Vehicle Diagnostics Tracker
Chapter 4. Global On-board diagnostics Device Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global On-board diagnostics Device Market, by Type
6.1. Market Snapshot
6.2. Global On-board diagnostics Device Market by Type, Performance – Potential Analysis
6.3. Global On-board diagnostics Device Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. On-board diagnostics Device Market, Sub Segment Analysis
6.4.1. Hand-held tools
6.4.2. Mobile-based tools
6.4.3. PC-based tools
6.4.4. Others
Chapter 7. Global On-board diagnostics Device Market, by Vehicle Type
7.1. Market Snapshot
7.2. Global On-board diagnostics Device Market by Vehicle Type, Performance – Potential Analysis
7.3. Global On-board diagnostics Device Market Estimates & Forecasts by Vehicle Type 2019-2029 (USD Billion)
7.4. On-board diagnostics Device Market, Sub Segment Analysis
7.4.1. Passenger Cars
7.4.2. Light Commercial Vehicles
7.4.3. Heavy Commercial Vehicles
7.4.4. Electric Vehicles
Chapter 8. Global On-board diagnostics Device Market, Regional Analysis
8.1. On-board diagnostics Device Market, Regional Market Snapshot
8.2. North America On-board diagnostics Device Market
8.2.1. U.S. On-board diagnostics Device Market Type breakdown estimates & forecasts, 2019-2029 Vehicle Type breakdown estimates & forecasts, 2019-2029
8.2.2. Canada On-board diagnostics Device Market
8.3. Europe On-board diagnostics Device Market Snapshot
8.3.1. U.K. On-board diagnostics Device Market
8.3.2. Germany On-board diagnostics Device Market
8.3.3. France On-board diagnostics Device Market
8.3.4. Spain On-board diagnostics Device Market
8.3.5. Italy On-board diagnostics Device Market
8.3.6. Rest of Europe On-board diagnostics Device Market
8.4. Asia-Pacific On-board diagnostics Device Market Snapshot
8.4.1. China On-board diagnostics Device Market
8.4.2. India On-board diagnostics Device Market
8.4.3. Japan On-board diagnostics Device Market
8.4.4. Australia On-board diagnostics Device Market
8.4.5. South Korea On-board diagnostics Device Market
8.4.6. Rest of Asia Pacific On-board diagnostics Device Market
8.5. Latin America On-board diagnostics Device Market Snapshot
8.5.1. Brazil On-board diagnostics Device Market
8.5.2. Mexico On-board diagnostics Device Market
8.5.3. Rest of Latin America On-board diagnostics Device Market
8.6. Rest of The World On-board diagnostics Device Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Detroit Diesel Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Zubie Inc.
9.2.3. Innova Electronics corp.
9.2.4. AVL DiTEST GmbH
9.2.5. Robert Bosch GmbH
9.2.6. Vector Informatik GmbH
9.2.7. Denso Corporation
9.2.8. Autel Intelligent Technology Corp., Ltd.
9.2.9. ERM Electronic Systems LTD
9.2.10. Verizon Communications Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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