On-board Diagnostics (OBD) AfterMarket to witness major growth in coming years

The on-board Diagnostics (OBD) aftermarket is projected to foresee commendable growth in coming years owing to increasing use of OBD devices across the consumer telematics sector and increasing use of advanced telematics in ride hailing apps. OBD is referred as a standardized system that lets external electronics to interface with a computer system of the car. It has become very essential as cars have become progressively computerized, and even the software has become an important key for fixing various problems and unlocking performance.

The on-board diagnostics aftermarket devices have the relevant potential to introduce some serious security and safety risks to an automobile. The design of OBD port specifies that such a device has basically unlimited access to all or some of the internal networks of the car. OBD devices also have some kind of external interface which can be accessed from exterior of the car typically cellular, Bluetooth, or Wi-Fi.

An on-board diagnostics aftermarket device can possibly receive arbitrary CAN traffic from exterior vehicle through its wireless radio interface and further pass it unfiltered to the interior CAN bus through the OBD port. Most of the aftermarket parts should efficiently work with OBD systems. It is the prime responsibility of the aftermarket parts manufacturers to make sure that their parts are working properly with the vehicle for which they are specifically designed.

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With the start of inexpensive cellular, Bluetooth and Wi-Fi components, the manufacturers of OBD aftermarket have largely expanded their products to mainly include a brand-new class of service like commercial fleet management, vehicle-use tracking, and pay-by-mile insurance.

Additionally, with the arrival of the smartphone revolution as well as increased miniaturization, currently prevailing vehicle aftermarket manufacturers and startups have developed devices that easily attach to the OBD port present in all new and up-to-date cars.

On-board Diagnostics (OBD) Aftermarket is bifurcated in terms of component, vehicle type, application, and regional landscape.

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In terms of application, the overall on-board diagnostics aftermarket is categorized into usage-based insurance (UBI), car sharing, fleet management, and consumer telematics. Among these, car sharing segment will witness a CAGR of more than 22% through the forthcoming time period. This anticipated growth is accredited to due to increasing use of advanced telematics in ride hailing apps.

From a regional frame of reference, LAMEA OBD aftermarket will witness a respectable CAGR of around 17% over the forecast time period. This anticipated growth is ascribed to the increasing use of OBD devices across the consumer telematics sector.