European OBD Aftermarket size is anticipated to cross USD 1 billion by 2026, according to a latest forecast report by Graphical Research.
The market growth is driven by rising demand IoT solutions across the automotive industry. The growing implementation of the IoT platforms in the automotive industry is turning vehicles into a hub of an ecosystem of connected devices which offer benefits including enhanced safety, real-time monitoring of vehicle components, and a user-rich experience. Such type of service is triggered by the presence of in-built OBD systems which analyze, monitor, and rectify the problems or faults in the vehicle components.
In Europe, passenger vehicle segment dominated the market share of 40% in 2019. Increasing urbanization, growing population, and changing customer needs have put pressure on the existing transport infrastructure. The vehicles manufacturers and suppliers are likely to increase their offerings in terms of alternate fuel variants to cater to the growing customer demands. The passenger vehicles offer the most convenient mode of travel, further accelerating the need for on-board diagnostics devices.
In Europe, the managed service segment is set to register a growth rate of 20% from 2020 to 2026. The growing demand among the enterprises to outsource the OBD services and concentrate on their core business operations is propelling the demand for third-party service providers. Intense competition among the market players and the growing need to provide enhanced customer experience is also encouraging vendors to offer a wide range of professional services to gain customer loyalty.
Browse detailed statistical insights from the report, “Europe On-board Diagnostics (OBD) Aftermarket Size, By Application (Consumer Telematics, Fleet Management, Car Sharing, Usage Based Insurance (UBI)), By Vehicle Type ( Passenger Vehicles, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)), By Component (Hardware [OBD Scanners, OBD Dongles], Software [PC-based software, Apps), Service [Training & Consulting, Integration & Maintenance, Managed Service]), Research Report, Country Outlook (UK, Germany, France, Spain, Italy, Netherlands), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
The consumer telematics segment accounted the market share of over 20% in 2019 due to rising demand for telematics solutions across the fleet management companies. The system provides drivers with real-time feedback on their driving behavior, such as speed, distance driven and instances of harsh braking. Other data includes visual information on how they drive including live and retrospective feedback on their braking, cornering, acceleration and idling.
Some of the key vendors in the European On-board Diagnostics aftermarket include Bosch Diagnostics, Continental AG, Intel Corporation, Magneti Marelli S.p.A, TomTom International B.V., Vector Informatik GmbH, Xirgo Technologies, Verizon Communications Inc, Mojio, Geotab, Inc., ERM Electronic Systems LTD, and CalAmp Corp.
The European OBD aftermarket research report includes an in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Europe Market, By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
Europe Market, By Component
- PC-based OBD Scanning Tools
- Apps (OBD Telematics Platforms)
- Integration and Maintenance
- Managed Service
Europe Market, By Application
- Consumer Telematics
- Fleet Management
- Car Sharing
- Usage-Based Insurance (UBI)
The above information has been provided for the following countries: