The automotive on-board diagnostics market size is expected to increase by USD 27.63 billion from 2020 to 2025. Automotive On-board Diagnostics Market: Driver. UBI is popular in Europe and the US, and insurers are making profits from this concept.
Overview of Automotive
On-board Diagnostics Market
Automotive on-board diagnostics (OBD) market has made continuous strides to meet a wide range of vehicle monitoring and maintenance applications, and remote diagnostic solutions. Most extensively, vehicle owners and OEMs have leveraged the sensor and software technologies encompassed by on-board diagnostics for emission monitoring and the overall health of the vehicles. OBD typically includes black box event data recorders, vehicle tracking control units, and other electric control units. Over the years, the revenue potential has grown remarkably, circumscribing a wide range of stakeholders in the ecosystem. For instance, OEMs, software developers, and insurance providers have been able to see new revenue streams in the telematics. The value chain of the automotive on-board diagnostics market is fast expanding, with on-board diagnostics becoming a part of the driverless cars and electric vehicles. Two prominently lucrative areas a