On-Board Diagnostics (OBD) Telematics Market to Accelerate at a CAGR of Over 10% During 2020-2024 | Technavio
Technavio has been monitoring the on-board diagnostics (OBD) telematics market and it is poised to grow by USD 1.74 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global On-Board Diagnostics (OBD) Telematics Market 2020-2024 (Graphic: Business Wire)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the on-board diagnostics (OBD) telematics market. The market growth in 2020 is likely to increase compared to market growth in 2019.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. CalAmp (News - Alert) Corp., Continental AG, Danlaw Inc., Delphi Technologies Plc, Geotab Inc., Intel Corp., Intelligent Mechatronic Systems Inc. (IMS), Robert Bosch GmbH, Sinocastel Co. Ltd., and Verizon (News - Alert) Communications Inc. are some of the major market participants. Although the developments in OEM fleet telematics systems will offer immense growth opportunities, the growing threat from embedded telematics is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this on-board diagnostics (OBD) telematics market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
On-Board Diagnostics (OBD) Telematics Market 2020-2024: Segmentation
The on-board diagnostics (OBD) telematics market is segmented as below:
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On-Board Diagnostics (OBD) Telematics Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The on-board diagnostics (OBD) telematics market report covers the following areas:
This study identifies government initiatives for increased adoption of OBD telematics systems as one of the prime reasons driving the on-board diagnostics (OBD) telematics market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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On-Board Diagnostics (OBD) Telematics Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Type
Drivers, Challenges, and Trends
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