On-Board Diagnostics (OBD) Aftermarket Market Analysis And Forecast To 2031: Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)), By Component (Hardware, Software, Service), By Application (Consumer Telemati

On-Board Diagnostics (OBD) Aftermarket Market Analysis And Forecast To 2031: Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)), By Component (Hardware, Software, Service), By Application (Consumer Telematics, Fleet Management, Car Sharing, Usage Based Insurance (UBI)), And Region

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.
Global On-board Diagnostics (OBD) Aftermarket Market Scope and Report Structure

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.
Market Restraints and Challenges
Some of the key restraints and challenges in the On-Board Diagnostics (OBD) Aftermarket market include the high cost of OBD scanners and the lack of awareness among consumers about the benefits of using OBD scanners. In addition, the market is also hindered by the lack of standardization in the OBD protocols, which makes it difficult for different scanners to communicate with each other.
Global On-board Diagnostics (OBD) Aftermarket Market Segmental Overview
The report analyses the global On-board Diagnostics (OBD) Aftermarket market based on component, vehicle type, application, and region.

Global On-board Diagnostics (OBD) Aftermarket Market by Component

Based on component, it is segmented into hardware, and software. Among these, the hardware segment is estimated to account for a substantial share in the On-board Diagnostics (OBD) Aftermarket market through 2031. This rise can be attributed to the availability of a range of wearable devices in healthcare. Some of these devices include smart patches, rings, watches and others. Of these, ring-type wearables, equipped with deep learning analysis of PPG signals could help in the accurate diagnosis of AF without depending on electrocardiography. Similar devices enable the continuous monitoring of AF in high-risk populations.

Global On-board Diagnostics (OBD) Aftermarket Market by Vehicle Type

Based on the vehicle type, the On-board Diagnostics (OBD) Aftermarket market is segmented into Passenger Vehicles, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV). The passenger vehicle segment accounted for around 40% of the OBD aftermarket share in 2021. This can be credited to the increasing production of passenger cars equipped with OBD systems that can scan the engine and sub-components of vehicles. According to the Society of Indian Automobile Manufacturers (SIAM), above 3,650,698 passenger vehicles were produced in the year 2021-22 as compared to 3,062,280 in 2020-21.

Global On-board Diagnostics (OBD) Aftermarket Market by Application

With regards to application, the On-board Diagnostics (OBD) Aftermarket market is divided into consumer telematics, fleet management, car sharing, usage based insurance (UBI). In 2021, the consumer telematics segment valued at about USD xx million in 2021, which can be credited to favourable government initiatives to promote the usage of telematics for vehicle safety. The introduction of OBDs has resulted in the development of connected cars which has lowered the road accident fatality rate and allowed drivers to clock more miles. With a growing demand for OBD in consumer telematics, the market will observe substantial growth Up to 2031.
Geographical Analysis of Global On-board Diagnostics (OBD) Aftermarket Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America On-board Diagnostics (OBD) Aftermarket market revenue is poised to grow significant CAGR during the forthcoming years. The Asia Pacific OBD aftermarket industry is projected to observe significant growth rate between 2022 and 2030 led by the surging interest in smart city initiatives and growing awareness of passenger safety. With demand for vehicles witnessing an upward trend, India, China, and South Korea are emerging as the front-runners in the regional market landscape.
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.

COVID-19 Impact:

The automotive sector witnessed an immense downturn during the COVID-19 pandemic. Vehicle sales reduced to record low figures in the initial months of 2020. Furthermore, many production plants in China were shut down during the pandemic, impacting OBD development. The global market is recovering gradually, with countries reopening borders and resuming business operations. However, companies will have to devise strategies like mergers and acquisitions to sustain during the initial years of recovery.
Recent Developments

In March 2022 CalAmp formed a partnership with Noregon to provide predictive maintenance and remote diagnostics for fleet operators. This partnership combines CalAmp iOn fleet management software, edge computing services, and cloud platform with the predictive algorithms developed by Noregon for its TripVision remote diagnostics. Such business propositions will significantly contribute to the growth of the industry.
In July 2021, CarDr.Com launches new OBD app for automotive dealers.
In October 2021, Metropolis Healthcare board approves acquisition of Hitech Diagnostic.
In August 2020, Teletrac Navman launched an AI-powered telematics platform that leverages cloud ecosystem. The newly launched TN360 combines data collected from multiple portable devices and provides a predictive analysis over a centralized window. These launches are expected to fuel the demand for on-board diagnostics devices.
In October 2019, Fujitsu Limited launched a data processing platform for service providers. The launched platform is based on Dracena, Fujitsu's data processing technology and helps to process data from multiple vehicles.



Frequently Asked Questions
Q1. How big is the On-board Diagnostics (OBD) Aftermarket market?

Ans. 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.

Q2. What is the On-board Diagnostics (OBD) Aftermarket market growth rate?

Ans. The growth rate of the On-board Diagnostics (OBD) Aftermarket market is 26.6%.

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the On-board Diagnostics (OBD) Aftermarket market in 2021.

Q4. Which segment accounted for the largest On-board Diagnostics (OBD) Aftermarket market share?

Ans. By application, the consumer telematics segment accounted for the largest On-board Diagnostics (OBD) Aftermarket market share.

Q5. Who are the key players in the flexible endoscopes market?

Ans. The global On-board Diagnostics (OBD) Aftermarket market report includes players such as   Autel Intelligent Technology Corp., Ltd., AVL Ditest, Azuga, Bosch Diagnostics, CalAmp, Continental AG, Danlaw, Inc., ERM Electronic Systems LTD, Geotab Inc., HeLLA GmbH & Co. KGaA, among others.

Q6. What are the factors driving the On-board Diagnostics (OBD) Aftermarket market growth?

Ans. The major factors driving the growth of the market are growing prevalence of cardiovascular diseases and expenditure on cardiac health globally

Q7. What are the key growth strategies of On-board Diagnostics (OBD) Aftermarket market players?

Ans. The key growth strategies of On-board Diagnostics (OBD) Aftermarket market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the On-board Diagnostics (OBD) Aftermarket market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the On-board Diagnostics (OBD) Aftermarket market during the forecast period.

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