New York, June 26, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global OBD Telematics Market” published by Consegic Business Intelligence, the market was sized at USD 2,409.98 million in 2022 and is expected to reach over USD 4,813.72 million by the year 2030, registering a CAGR of 9.1%.
OBD Telematics is a monitoring system used for analyzing vehicle information such as location, speed, mileage driven and braking. OBD telematics involves telecommunications and informatics to manage vehicle-generated data remotely over long distances. Moreover, OBD telematics are used for in-vehicle entertainment, passenger connectivity, or vehicle diagnostics for personal use.
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The increasing demand for vehicle connectivity to monitor various parameters such as speed, mileage, and emissions from the vehicle is driving the growth of the market. OBD-II (On-Board Diagnostics-II) scanner connects to the OBD-II port in a vehicle to gather information on the overall performance of the vehicle. For instance, in September 2022, Cambridge Mobile Telematics (CMT) launched advanced telematics solution for auto insurance claims to offer proactive, real-time services for the vehicle to their customers.
The integration of OBD telematics in electric vehicles is expected to create growth opportunities for the OBD telematics market during the forecast period. OBD telematics provide real-time data on battery health, charging status, range estimation, and energy efficiency of the electric vehicle. However, data privacy and security concerns associated with OBD telematics is hindering the market growth
| Report Attributes | Report Details |
| Market Size By 2030 | USD 4,813.72 million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 9.1% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | BorgWarner Inc., Continental AG, Bosch Automotive Service Solutions Inc., LG Electronics, Geotab Inc., Danlaw, Inc., CalAmp, Xirgo Technologies, Mojio, Autonet |
| By Product Type | SIM Card, Wi-Fi, and Others |
| By Application | Repair Technicians, State Agencies, Vehicle Owners, Vehicle and Engine Manufacturers, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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OBD Telematics Market Growth Drivers:
- The growing demand for connected vehicles due to the integration of telematics systems into vehicle designs has contributed to the expansion of the OBD telematics market.
- Government regulations and standards related to vehicle emissions, safety, and efficiency have played a significant role in driving the adoption of OBD telematics.
- The increasing adoption of advanced technologies such as IoT integration, cloud computing & data analytics to gather insights into the vehicles’ performance is accelerating the growth of the market.
Restraints
- Data privacy and security concerns associated with OBD telematics is hindering the growth of OBD telematics market.
- Connectivity limitations of OBD telematics due to poor cellular network is restraining the market growth.
Opportunities
- The integration of OBD telematics in electric vehicles is expected to create growth opportunities for the OBD telematics market during the forecast period.
Global OBD Telematics Market Segmentation Details:
Based on Product Type, the SIM card segment contributed the largest shares to the market growth in 2022. The increasing adoption of SIM cards by vehicle manufacturers to establish a cellular connection for data transmission is driving the growth of the market. Moreover, the application of SIM cards in infotainment systems to provide navigation and GPS tracking systems is contributing to the growth of OBD telematics market.
Based on Application, the repair technician accounted for the maximum revenue share in the year 2022. The increasing adoption of OBD telematics by repair technicians to diagnose vehicle issues accurately and efficiently is driving the growth of the market. Moreover, the application of OBD telematics to monitor vehicles’ performance is accelerating the growth of the market.
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Based on Region, North America accounted for the largest revenue share in the year 2022. The increasing adoption of advanced technologies such as OBD telematics, data analytics, and connectivity services to monitor the data generated by vehicles is driving the growth of the market. Moreover, the increasing environmental regulations by the state agencies to improve air quality is accelerating the growth of the regional market.
Recent Developments
- In February 2021, Zubie, Inc. launched Zubie Dashcam featuring driver monitoring technology coupled with GPS tracking capabilities to track important parameters of a vehicle.
- In February 2022, Solera Holdings, LLC acquired Spireon to provide vehicle insights for vehicle claims, vehicle repair, vehicle solutions, and fleet solutions.
Key Market Highlights
- Globally, OBD telematics market is divided based on the product type into SIM card, Wi-Fi, and others.
- Based on application, the market is separated into repair technicians, state agencies, vehicle owners, vehicle and engine manufacturers, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in OBD telematics market.
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List of Major Global OBD Telematics Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- BorgWarner Inc.
- Continental AG
- LG Electronics
- Geotab Inc.
- Danlaw, Inc.
- CalAmp
- Xirgo Technologies
- Mojio
- Queclink Wireless Solutions Co., Ltd.
- Bosch Automotive Service Solutions Inc.
Global OBD Telematics Market Segmentation:
- By Product Type
- SIM Card
- Wi-Fi
- Others
- By Application
- Repair Technicians
- State Agencies
- Vehicle Owners
- Vehicle and Engine Manufacturers
- Others
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Key Questions Covered in the OBD Telematics Market Report
- What are OBD Telematics?
- OBD Telematics is a technique that uses telecommunication devices to collect, transport, and store data from automobiles equipped with an OBD port, along with offering vehicle details to consumers.
- What are some of the most important applications of OBD Telematics and how do they impact the industry's growth potential?
- OBD Telematics provide real-time data on battery health, charging status, range estimation, and energy efficiency of the vehicle. Moreover, OBD telematics are used to gather information on the emissions from the vehicle to improve the air quality.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the OBD Telematics growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing environmental regulations by state agencies in the region to monitor air quality is driving the growth of the market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia Pacific is anticipated to register fastest CAGR growth during the forecast period. The rising government regulations and policies to promote energy storage solutions is driving the growth of the regional market.
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