Published Date: 2021-07-06
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APAC OBD Aftermarket size is poised to surpass USD 900 million by 2026, according to a latest forecast report by Graphical Research.
The Asia Pacific market growth is driven by technological advancements in automobiles and shifting consumer demand toward fuel-efficient smart vehicles. According to China’s National Development and Reform Commission (NDRC), the country expects smart cars with fully or partially autonomous functions to account for nearly 50% of the new vehicles sold in the country by 2021.
In Asia Pacific, the LCV segment is set to grow at a CAGR of above 20% between 2020 and 2026. The demand for LCVs is likely to grow as vehicle owners are looking for cost-effective and low-emission ways to better manage fleet operations. The rapid growth in the construction and e-commerce sectors is expected to drive the need for smart & light commercial vehicles to transport goods within cities.
Browse detailed statistical insights from the report, “Asia Pacific On-board Diagnostics (OBD) Aftermarket Forecast 2026 By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), By Component (Hardware [OBD Scanners, OBD Dongles], Software [PC-based Software, Apps), Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Application (Consumer Telematics, Fleet Management, Car Sharing, Usage-based Insurance [UBI]), Research Report, Regional Outlook (China, India, Japan, South Korea, Australia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
In the component segment, OBD hardware accounted for over 45% market share in 2019. The OBD hardware aftermarket industry is witnessing rapid growth in the adoption of in-built on-board diagnostic systems to analyze, monitor, and rectify problems or faults in vehicle components. The widespread adoption of IoT to build smart car systems that can be monitored and actively provide the health status of vehicle components is driving the need for OBD hardware.
The car sharing segment is estimated to register gains at nearly 30% CAGR between 2020 and 2026 owing to the increased use of OBD capabilities by car-sharing companies for route planning and optimization & monitoring of fuel usage. OBD systems are also used for fleet management, tracking driver activities, mapping, and location detection.
The APAC OBD aftermarket research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026 for the following segments:
Asia Pacific Aftermarket, By Vehicle Type
Asia Pacific Aftermarket, By Component
Asia Pacific Aftermarket, By Technology
The above information has been provided for the following countries:
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