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Europe On-board Diagnostics Aftermarket Projected to Reach $1 Bn by 2026 - Fractovia.org
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Europe On-board Diagnostics Aftermarket Projected to Reach $1 Bn by 2026

Author : Ronak Bora | Published Date : 2021-09-01 

Europe on-board diagnostics aftermarket size is projected to surpass USD 1 billion by 2026. The rising momentum of Europe on-board diagnostics aftermarket may be linked to the region's well-established automobile sector. The adoption of remote vehicle diagnostic systems based on data-driven technology is gaining popularity in the automotive industry. On-Board diagnostics is a computer system installed inside a vehicle that monitors and controls the vehicle's operation.

The computer system gathers data from the vehicle's network of sensors, which it then uses to manage automobile systems or notify the user to problems. A technician may then easily connect to the vehicle's OBD system to gather data and identify the problem. Because of the fast expansion of the car industry, there is a greater demand for more efficient vehicle management systems across Europe.

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The market trends are defined by the four factors mentioned below:

The Europe on-board diagnostics aftermarket share from the passenger car segment was 40% in 2019. For more than a century, passenger cars have changed contemporary life by giving independence and mobility. In order to meet the rising consumer demand in Europe, car manufacturers and suppliers expanding their supplies of alternative fuel types. Passenger cars are the most convenient method of transportation, which increases the demand Europe on-board diagnostics aftermarket outlook with higher focus on maintenance.

Increasing vehicle production across Germany

Germany on-board diagnostics aftermarket could expand significantly through the projected period, owing to increased vehicle production. According to the International Organization of Motor Vehicle Manufacturers, the German automobile market produced 4.98 million cars during 2019, with passenger cars accounting for the major share. Cars are the primary mode of transportation, with the average European driving about 12,000 kilometers each year.

Technological advancements across OBD hardware

Europe on-board diagnostics aftermarket share from hardware segment is expected to grow at a CAGR of more than 10% through 2026. The use of in-built on-board diagnostic systems, which analyze, monitor, and correct issues in car components, is rapidly growing in the OBD sector. The growing use of IoT to create smart automotive systems that can be monitored and actively give information on the health of the vehicle's components is boosting the need for modern OBD hardware.

Adoption of fleet management solutions

The fleet management application contributed more than 50% of Europe on-board diagnostics aftermarket share during 2019. This can be ascribed to three critical factors: rising demand for operational efficiency, growing environmental concerns, and lowering vehicle hardware and connection costs.

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Vehicle telematics or fleet management software is used to enhance fleet efficiency and assist in decreasing operating expenses. To ensure driver safety, fleet managers can benefit from equipment like dash cameras and vehicle tracking systems, which give real-time sight into otherwise remote vehicles and provide resources to execute driver training.

Continental AG, Bosch Diagnostics, Intel Corporation, TomTom International B.V., Magneti Marelli S.p.A, Vector Informatik GmbH, Verizon Communications Inc, Xirgo Technologies, and Geotab Inc. are among the leading Europe on-board diagnostics aftermarket.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research methodology

1.2    List of data sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2   Market Snapshot

2.1    On-board Diagnostics (OBD) aftermarket snapshot, 2015-2026

Chapter 3   On-board Diagnostics (OBD) Aftermarket Trends

3.1    Industry coverage

3.2    Industry size, 2015 -2026

3.3    Impact of COVID-19

3.4    Value chain analysis

3.4.1    Company product snapshot

3.5    Innovation landscape

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Growth drivers

3.7.1.1    Market drivers

3.7.1.2    Market restraints

3.8    Industry analysis -Porter’s five forces

3.9    Competitive benchmarking, 2019

3.9.1    Strategy dashboard

3.10    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1670/europe-on-board-diagnostics-obd-aftermarket

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. ronak.b@fractovia.org | https://twitter.com/RonakBora26

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