Emerging Trends in Automotive OBD Dongle Market Which Will Drive The Market For The Next Five Years
(prsubmissionsite) October 18, 2019 – The global automotive OBD dongle market research report by Technavio predicts the market to post a CAGR of approximately 34% during the period 2019-2023.
A key driver for the global automotive OBD dongle market is the higher electronic content in modern vehicles paving the way for OBD adoption. The passenger car segment has witnessed a high adoption of electronic content over the past decade due to the electrification of mechanical components, which has made its way into commercial vehicles. The increased electrification has paved the way for the adoption of advanced assistance systems in modern vehicles to allow optimization.
This global automotive OBD dongle market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of next-generation telematics protocol (NGTP) as one of the key trends in the global automotive OBD dongle market:
Global automotive OBD dongle market: Emergence of next-generation telematics protocol
NGTP is a technology-neutral protocol, which aims at developing telematics solutions. It was first introduced by telematics service vendors such as WirelessCar (Volvo Group), BMW, and Connexis. The aim was to provide a standardized platform for more flexible and scalable telematics systems.
“Volvo and other OEMs have already provided an open platform, which can be used to develop telematics solutions by different stakeholders. The companies provide some application interfaces from their solutions for use by other vendors to develop telematics solutions. The strategy employed is to develop in-house solutions for OEMs and dealers, while solutions for insurance and logistics operations are developed in collaboration with third-party vendors,” says a senior research analyst at Technavio.
Global automotive OBD dongle market: Segmentation analysis
This automotive OBD dongle market analysis report segments the market by application (passenger cars and commercial vehicles) and geography (the Americas, APAC, and EMEA).
The passenger cars segment held the largest automotive OBD dongle market share in 2018, accounting for more than 59% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with nearly 64% of the market share, followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
· Market ecosystem
· Market characteristics
· Market segmentation analysis
· Market definition
· Market size and forecast
Five Forces Analysis
· Regional comparison
· Key leading countries
· Vendors covered
· Vendor classification
· Market positioning of vendors
· Competitive scenario
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