London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global heavy trucks on-board diagnostics (OBD) system market 2015-2019, which is expected to grow at a CAGR of 7.41% during the forecast period of 2014-2019.
The market is expected to grow steadily during the forecast period as an increasing number of heavy duty trucks are being integrated with complicated electronic systems, which would require advanced vehicle diagnostic systems. With the advent of electronics in vehicles, there will be a constant need for systems such as OBD that can monitor and measure complex and advanced electronic components.
The US is the largest market for heavy truck OBD systems and is expected to continue dominating the global market until 2019. Currently, the OBD systems market has come a long way since its inception, with new innovations and startup companies emerging with new technologies in the field of OBD connectivity, embedded display systems, and telematics. With the growing need for fuel efficiency, demand for OBD systems is also increasing. OBD systems are claimed to increase fuel economy in heavy duty vehicles.
“The use of remote diagnostics is gaining popularity among OBD system manufacturers due to the increasing demand for this application from fleet operators of both passenger as well as commercial vehicles,” says Faisal Ghaus, Vice President of Technavio.
“Remote diagnostics is a valuable tool for these operators as it helps in preventive maintenance and scheduling vehicle service cycles, which in turn helps reducing vehicle downtime and breakdowns.”
Key Market Drivers
- Government regulations
- Increased focus on hybrid technologies
- Increased adoption of usage-based insurance model among insurance providers
Key Market Trends
- Shift in focus toward remote diagnostics
- Change in focus from OBD hardware to software
- OBD telematics
Key Market Vendors
- Autel
- Bosch Diagnostics
- Detroit Diesel
- Innova Electronics
- Vector Informatik
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Heavy Trucks On-board Diagnostics (OBD) System Market 2015-2019, please send an e-mail to media@TechNavio.com.
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