Dublin, July 28, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive OBD Dongle Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
Automotive OBD Dongle Market to Witness Significant Growth at 16.49% CAGR
The automotive OBD dongle market is poised for substantial growth during the forecast period from 2022 to 2027, with a projected increase of USD 65.63 billion. The market is expected to accelerate at a CAGR of 16.49% during this period. This comprehensive report on the automotive OBD dongle market provides a holistic analysis, including market size and forecast, trends, growth drivers, challenges, and vendor analysis, covering approximately 25 vendors.
Key Drivers of Market Growth:
- Usage-based Insurance (UBI) Model to Drive Utility Value: The adoption of usage-based insurance models, where insurance premiums are based on actual vehicle usage data collected through OBD dongles, is driving the market growth. This model allows insurance companies to offer personalized policies based on individual driving behavior.
- Higher Electronic Content in Modern Vehicles: The increasing electronic content in modern vehicles is paving the way for the adoption of OBD dongles. These dongles provide valuable vehicle data and diagnostics, which is becoming essential for vehicle maintenance and performance monitoring.
- Fleet Operators Focusing on Reducing Total Cost of Ownership (TCO): Fleet operators are increasingly using OBD dongles to track and monitor their vehicles, which helps in optimizing fleet performance and reducing overall operating costs.
Market Segmentation
The automotive OBD dongle market is segmented based on vehicle type, type, and geographical landscape.
Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Type:
- Bluetooth
- WiFi
Geographical Landscape:
- North America
- Asia-Pacific (APAC)
- Europe
- South America
- Middle East and Africa
Emerging Trends Driving Market Growth:
- Advanced Analytics on Telematics Data to Reduce Risk Severity: The use of advanced analytics on telematics data collected through OBD dongles is driving the market growth. Insurance companies and fleet operators are leveraging this data to identify potential risks and take proactive measures to reduce accidents and losses.
- Increasing Mobile Phone Integration with Telematics Systems: The integration of mobile phones with telematics systems and OBD dongles is enhancing the user experience and driving market demand.
- Vehicle Diagnostics-based Insurance Programs: Insurance companies are launching vehicle diagnostics-based insurance programs, where premium rates are determined based on vehicle health and maintenance data collected through OBD dongles.
- Penetration of 5G Technology: The increasing penetration of 5G technology is expected to boost the demand for OBD dongles, as it enables faster and more reliable data transmission.
Vendor Analysis
The report provides a robust analysis of several leading vendors in the automotive OBD dongle market, including AutoPi.io ApS, BAFX Products, BorgWarner Inc., Continental AG, Danlaw Inc., Geotab Inc., and many others. The analysis helps clients understand the competitive landscape and improve their market position.
Upcoming Trends and Challenges
The report also includes insights into upcoming trends and challenges that will influence market growth. This information will assist companies in strategizing and leveraging future growth opportunities.
Objective Methodology
The study was conducted using a combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape, along with an analysis of the key vendors in the automotive OBD dongle market.
Key Topics Covered
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Vehicle Type
7. Market Segmentation by Type
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Vendor Landscape
12. Vendor Analysis
13. Appendix
A selection of companies mentioned in this report includes:
- AutoPi.io ApS
- BAFX Products
- BorgWarner Inc.
- Continental AG
- Danlaw Inc.
- Geotab Inc.
- Huawei Technologies Co. Ltd.
- Intel Corp.
- iWave Systems Technologies Pvt. Ltd.
- Legion Autodata JSC
- Moj.io Inc.
- OBD Solutions LLC
- Prizmos Ltd.
- Robert Bosch GmbH
- ShenZhen CheBoTong Technology Co. Ltd.
- TomTom NV
- Veepeak
- Verizon Communications Inc.
- Zubie Inc.
- Zymbia Interactive Technologies Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/el49np
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
