Connect with us

Technology

Automotive On-Board Diagnostics (OBD) Market size is set to grow by USD 62.49 billion from 2024-2028, Increase in adoption of usage-based insurance (UBI) using OBD as measurement parameter to boost the market growth, Technavio

Published

on

NEW YORK, June 26, 2024 /PRNewswire/ — The global automotive on-board diagnostics (OBD) market  size is estimated to grow by USD 62.49 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  24.27%  during the forecast period.  Increase in adoption of usage-based insurance (UBI) using OBD as measurement parameter is driving market growth, with a trend towards growing focus on remote diagnostics. However, increase in cost for integration of telematics  poses a challenge. Key market players include Autel Intelligent Technology Co., AVL DiTEST GmbH, Bridgestone Corp., Continental AG, Dashboard Labs Corps., DENSO Corp., General Motors Co., Hearst Communications Inc., HELLA GmbH and Co. KGaA, Innova Electronics Corp., Intel Corp., iWave Systems Technologies Pvt. Ltd., Marelli Holdings Co. Ltd., Mercedes Benz Group AG, Moj.io Inc., OBD Solutions LLC, Robert Bosch GmbH, Vector Informatik GmbH, Verizon Communications Inc., and Zubie Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Allied services and OBD port), Vehicle Type (IC engine and Electric vehicle), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Autel Intelligent Technology Co., AVL DiTEST GmbH, Bridgestone Corp., Continental AG, Dashboard Labs Corps., DENSO Corp., General Motors Co., Hearst Communications Inc., HELLA GmbH and Co. KGaA, Innova Electronics Corp., Intel Corp., iWave Systems Technologies Pvt. Ltd., Marelli Holdings Co. Ltd., Mercedes Benz Group AG, Moj.io Inc., OBD Solutions LLC, Robert Bosch GmbH, Vector Informatik GmbH, Verizon Communications Inc., and Zubie Inc.

Key Market Trends Fueling Growth

The Automotive On-Board Diagnostics (OBD) market involves remote systems that detect vehicle faults and transmit trouble codes to data centers. These data centers interpret the data and send it to drivers or technicians for preventive maintenance and scheduled service cycles. This reduces vehicle downtime and breakdowns, making remote diagnostics a valuable tool. Its popularity among fleet operators of passenger and commercial vehicles is increasing and is expected to continue during the forecast period. 

The Automotive On-Board Diagnostics (OBD) market is experiencing significant growth due to the increasing demand for vehicle efficiency and emissions reduction. Wireless technologies, such as Bluetooth and Wi-Fi, are trending in the OBD market, enabling real-time vehicle monitoring and analysis. Components like OBD sensors, gateways, and software are driving the market’s growth. Devices are becoming more compact and cost-effective, making them accessible to a broader consumer base. The market is also witnessing the integration of advanced features like predictive maintenance and vehicle tracking. OEMs and aftermarket players are investing in R&D to offer innovative solutions to cater to the evolving customer needs. The market is expected to continue its upward trajectory in the coming years. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global automotive OBD market expansion relies heavily on telematics applications and services. OBD services are often included in bundled connected car offerings, utilizing the same TCU and hardware components. Subscription pricing is essential for market growth, and OEMs should offer OBD systems alongside other connected car services. However, customer reluctance to pay for these services, particularly in the mass market segment, poses a challenge. Effective business models are necessary to encourage user adoption and promote the value of connected car offerings within the complex value chain.The Automotive On-Board Diagnostics (OBD) market faces several challenges. One major challenge is the increasing complexity of vehicles, requiring advanced diagnostic tools to identify and repair issues. Another challenge is the need for standardization across different vehicle makes and models. Additionally, the rapid evolution of technology necessitates continuous updates to diagnostic software. Furthermore, data security and privacy concerns arise as vehicles become more connected. Lastly, the global nature of the market necessitates compliance with various regulations in different regions. Addressing these challenges requires continuous innovation and collaboration among industry players.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This automotive on-board diagnostics (obd) market report extensively covers market segmentation by

Product 1.1 Allied services1.2 OBD portVehicle Type2.1 IC engine2.2 Electric vehicleGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Allied services-  The Automotive On-Board Diagnostics (OBD) market refers to the sales and installation of diagnostic systems used in vehicles. These systems enable mechanics to identify and repair issues efficiently, enhancing vehicle performance and reducing downtime. The OBD market continues to grow due to increasing vehicle production and the demand for advanced diagnostic tools. Manufacturers focus on developing user-friendly systems with easy connectivity to ensure seamless integration with various vehicle models.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

In the Information Age, the Automotive On-Board Diagnostics (OBD) market has experienced significant growth, particularly in the Wireless Communications sector. This technology is increasingly being utilized in In-Vehicle Electronics, including Location Technology, to enhance Insurance offerings through Telematics. Insurance carriers are leveraging OBD systems to monitor Risk Portfolios in the Fleet Management segment. Innova Electronics’ Diagnostic Device segment caters to both Handheld and PC/Laptop Based solutions. OBD tools facilitate Driver Behavior Monitoring, Emission Testing, and Supplementary Instrumentation. Consumer Telematics and Vehicle customization are also benefiting from OBD aftermarket products. The Internet of Things (IoT) is revolutionizing Automotive Production, leading to advancements in Fleet management, Vehicle maintenance, and Vehicle connectivity. Real-time data transmission and Remote Diagnostics are key features of the Connected Car Ecosystem.

Market Research Overview

The Automotive On-Board Diagnostics (Obd) market refers to the technology used for monitoring and diagnosing various systems in vehicles. This system enables vehicle owners and mechanics to identify and address issues related to emissions, fuel economy, and vehicle performance. The Obd market consists of various components such as sensors, diagnostic tools, and software. The market is driven by stringent emission norms and increasing consumer awareness towards vehicle maintenance. The Obd system is essential for both new and old vehicles, making it a growing market. The technology is continuously evolving, with advancements in wireless connectivity and cloud-based diagnostics. The Obd market caters to various vehicle types, including passenger cars, commercial vehicles, and two-wheelers. The market is expected to grow significantly due to the increasing demand for real-time vehicle data and predictive maintenance solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductAllied ServicesOBD PortVehicle TypeIC EngineElectric VehicleGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-on-board-diagnostics-obd-market-size-is-set-to-grow-by-usd-62-49-billion-from-2024-2028–increase-in-adoption-of-usage-based-insurance-ubi-using-obd-as-measurement-parameter-to-boost-the-market-growth-technavio-302182778.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Beyond Finance Wins Gold Stevie® Award for Customer Service Department of the Year in 23rd Annual American Business Awards

Published

on

By

Recognition highlights Beyond Finance’s empathetic support model and measurable impact on clients’ financial wellness

CHICAGO, May 8, 2025 /PRNewswire/ — Beyond Finance, one of the nation’s largest debt consolidation organizations, has been named winner of the Gold Stevie® Award for Customer Service Department of the Year in the 23rd Annual American Business Awards®. The honor recognizes Beyond Finance’s innovative and empathetic approach to supporting clients on the journey to achieve financial freedom.

This recognizes Beyond Finance’s empathetic approach to support clients on the journey to achieve financial freedom.

Beyond Finance was honored for delivering an exceptional customer experience, led by a 300+ member Client Success Team that provides 24/7 support to clients paying off debt. Many Beyond Finance team members are former or current clients themselves, allowing them to create deep connections in every interaction. In 2024, the company also introduced specialized empathy training for its team members, logging more than 500 collective hours in its first year.

“Debt is more than a financial issue. It carries emotional weight that demands human understanding,” said Lou Antonelli, Chief Operating Officer at Beyond Finance. “Our team members lead with compassion guided by personal experience, professional training, and an unwavering commitment to helping empower clients throughout their journeys. This award is a powerful validation of that work.”

The Stevie Awards judges highlighted Beyond Finance’s strong results in client satisfaction and long-term financial improvement. When surveyed, graduating clients rate their financial habits at an average of 5.9 before working with Beyond Finance, to 8.2 after graduating. Additionally, Beyond Finance maintains a Net Promoter Score of 80, up 10 points since 2023. This widely used metric measures customer loyalty and satisfaction by asking how likely customers are to recommend the company to others.

“The Client Success Team is at the heart of what makes Beyond Finance’s approach to debt consolidation both unique and effective,” said Vanessa Hering, EVP of Strategy and Operations. “Our team meets clients where they are with the goal of resolving questions on first contact. Every conversation is a chance to build trust and move our clients’ goals forward.”

Beyond Finance’s approach includes integrated support from accredited financial therapists who lead weekly financial wellness webinars. To learn more about the American Business Awards and view the full list of winners, visit: Customer Service Awards | Stevie Awards.

To learn more about Beyond Finance and how it supports clients on their journeys to financial freedom, visit www.beyondfinance.com.

Beyond Finance, LLC, is one of the nation’s largest debt consolidation organizations. In its commitment to providing clients a smart way to move beyond debt, Beyond Finance helps consumers lower their monthly payments, reduce the impact of interest, and reach a debt-free life sooner — all with customized proprietary tools allowing for ease-of-use and transparency. In 2024, Beyond Finance was awarded with 3 ConsumerAffairs’ inaugural “Buyer’s Choice Awards” for Best Customer Service, Experience with Staff, and Transparency within its category. Beyond Finance has offices in Chicago, Atlanta, San Diego, and Houston.

View original content to download multimedia:https://www.prnewswire.com/news-releases/beyond-finance-wins-gold-stevie-award-for-customer-service-department-of-the-year-in-23rd-annual-american-business-awards-302449018.html

SOURCE Beyond Finance

Continue Reading

Technology

Hardenbergh Group, Sentact, and Preverity Combine to Create Leader in Patient Safety, Experience, Risk, and Healthcare Compliance Solutions

Published

on

By

Combined Company to Unify Under the Sentact Brand

NASHVILLE, Tenn., May 8, 2025 /PRNewswire/ — The Hardenbergh Group, a leading provider of credentialing, physician peer review and consulting services, announced today its merger with Sentact and Preverity, and the planned unification of the three high-performing organizations into a single, integrated brand under the Sentact name. This strategic combination establishes a category leader in patient safety and experience, clinical risk mitigation, and healthcare compliance, serving the nation’s top health systems with a next-generation platform that combines technology, data, and healthcare expertise.

“Hospitals and health systems need more than point solutions – they need unified product and service platforms that deliver tangible benefits and proactive analysis and tools that bring real-time insight,” said Daniel Hart, CEO of the newly combined organization. “By bringing together these three companies, we’ve created a single, trusted partner that empowers hospital leaders to improve outcomes, reduce risk, and lead with clarity.”

The integrated Sentact platform delivers:

Sentact’s market-leading digital rounding and compliance platform, used by hospitals nationwide to standardize operational best practices to support patient safety, elevate patient experience, and ensure regulatory readiness.

The Hardenbergh Group’s nationally recognized workforce solutions to support physician credentialing and payer enrollment, as well as its external physician peer review service – foundational elements in the pursuit of safety, quality, productivity, and organizational compliance.

Preverity’s proprietary risk intelligence and predictive analytics solution, which equips leaders with forward-looking insights into clinical risk and provider performance to improve safety and supports physician peer review (OPPE/FPPE).

Together, these capabilities deliver a seamless, data-driven experience to drive measurable results for healthcare organizations and executives leading finance, nursing, safety, experience, quality, and medical staff services functions.

“Our vision has always been to turn data into intelligence,” said Larry Van Horn, co-founder of Preverity. “Combining with Sentact and Hardenbergh allows us to scale that vision – enabling earlier interventions, fewer preventable events to improve safety, and lower malpractice costs and reserve requirements.”

Leadership teams from all three legacy companies will remain in place, ensuring continuity, domain expertise, and a united focus on innovation and customer success.

Sentact will continue making significant investments in technology, including a harmonized enterprise data infrastructure that will integrate workflows and analytics capabilities across the platform. This foundation will enable real-time decision support and accelerate the shift from lagging to leading indicators of clinical, operational, and compliance performance.

“We are designing this platform for the future of healthcare leadership,” said Chris Dube, President of Sentact. “Hospital executives don’t just want reports – they want foresight. They want the ability to act before issues arise. That’s what Sentact is building.”

The combined organization is supported by strategic investment from BV Investment Partners, a growth-oriented private equity firm with deep experience in enterprise data and technology-enabled services across healthcare and other industry verticals.

“What makes this opportunity truly special is the chemistry among these teams and the clarity of their shared vision,” said Sean Wilder, Managing Director at BV Investment Partners. “We believe this is a rare chance to build a truly unique company that delivers transformational value – financial, clinical, and reputational – for healthcare organizations nationwide.”

About Sentact
The newly formed Sentact is a category leader in patient safety and experience, clinical risk mitigation, and healthcare compliance. Trusted by leading health systems across the U.S., Sentact empowers hospitals and health systems to reduce risk, enhance quality, and deliver safer care through its integrated suite of technology, workforce solutions, and predictive analytics. With intelligent insights and intuitive solutions, Sentact enables better experiences and exceptional outcomes. For more information, visit www.sentact.com, www.preverity.com and www.hardenberghgroup.com.

About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $5.7 billion, actively targeting investments in the tech-enabled business services, software, and IT services industries. The firm is investing out of its 11th private equity fund, which closed in September 2023 with $1.75 billion in capital commitments. BV was ranked in Inc. magazine’s 2024 list of Founder-Friendly Investors. For more information, visit www.bvlp.com.

Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334

View original content to download multimedia:https://www.prnewswire.com/news-releases/hardenbergh-group-sentact-and-preverity-combine-to-create-leader-in-patient-safety-experience-risk-and-healthcare-compliance-solutions-302449665.html

SOURCE BV Investment Partners

Continue Reading

Technology

ARLO ANNOUNCES SECURE 6 SMART HOME SECURITY SERVICE

Published

on

By

Newly Added Arlo Intelligence-Powered Features Empower Arlo Secure Subscribers to Make Better Informed Decisions to Protect What Matters Most

SAN JOSE, Calif., May 8, 2025 /PRNewswire/ — Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced Arlo Secure 6, the next generation of Arlo’s industry-leading home security subscription service featuring groundbreaking AI technology. Arlo Secure 6 introduces several new AI-powered innovations – fire detection, advanced audio detection, detailed video event descriptions, and powerful video search capabilities – offering users deeper insights and more meaningful context into events captured by Arlo devices.

“Arlo continues to push the boundaries of what’s possible in home security with our relentless focus on industry-first innovations,” said Matthew McRae, Chief Executive Officer at Arlo. “Leveraging Arlo Intelligence, a high-performance smart security AI engine with robust detection and recognition capabilities, Arlo Secure 6 delivers a smarter, more personalized security experience that empowers quick and informed decision making.”

Arlo Secure enhances the features of Arlo devices and completes the security experience to provide consumers with total protection. Powered by Arlo Intelligence, Arlo Secure 6 provides an intuitive, informed security experience with real, tangible value to users. Its comprehensive suite of AI features help users better understand what’s happening in and around their homes, allowing for quick and appropriate responses to potential emergency events. 

Arlo Secure 6 expands on the previously introduced Person Recognition, Vehicle Recognition, and Custom Detection capabilities to add:

Event Captions1: Transform how you review footage with concise, accurate AI-generated descriptions of events. Quickly understand what happened without needing to watch every second of video.Video Search: Quickly locate and review critical moments in your video history by searching for specific keywords, descriptions, or time ranges, eliminating the need to manually sift through your video library.Advanced Video Detection:Fire Detection: Lifesaving, AI-powered notifications alert you when a flame is detected, so you can prevent the spread of fire.Advanced Audio Detection: Receive notifications that tell you when a scream, gunshot, bark, glass break, or Smoke/CO alarm is detected.Scream Detection: When your camera hears a scream, you’ll get an alert so you can contact Emergency Response.Gun Shot Detection: At the sound of gunfire, receive an alert about serious activity and view live video or contact police for immediate assistance.Dog Bark Detection: When your dog barks, you’ll be notified so you can view live video to see if your dog is barking at a stranger or just a cat.Glass Break Detection: Get an alert when your camera hears glass breaking and view live video, check your house or car, and notify family at home of suspicious activity.

Arlo Secure 6 features will start rolling out to customers starting this month. A 30-day trial of Arlo Secure is included with the purchase of select Arlo products. Premium features like 60-day cloud storage, advanced detection (people, packages, vehicles), activity zones, 24/7 emergency response, and the new Secure 6 features require a paid subscription after the trial.

For more information on the full range of Arlo smart home security products and comprehensive list of features and services, visit www.arlo.com.

About Arlo Technologies, Inc.
Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo’s deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo’s cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. Arlo has recently launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo’s subscription service, Arlo Secure.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users’ personal information private and in their control. Arlo provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo Technologies, Inc.’s (the “Company” or “Arlo”) expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding lowering the barrier of entry and broadening the market for DIT security and Arlo cameras, Arlo video doorbells, Arlo Secure, Arlo Secure Plus, and future Arlo products. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including the following: future demand for the Company’s products may be lower than anticipated; consumers may choose not to utilize payment plans or to adopt the Company’s new product offerings, or may adopt competing products; and product performance may be adversely affected by real-world operating conditions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in the Company’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in the Company’s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and subsequent filings with the Securities and Exchange Commission. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

1 Event Captions is unavailable on Arlo devices in certain regions. Learn more here. You are responsible for complying with any local laws or regulations that relate to your use of the Event Caption feature. This may include you providing notice and obtaining consent from people who may be recognized by your camera.

Source: Arlo-F

View original content to download multimedia:https://www.prnewswire.com/news-releases/arlo-announces-secure-6-smart-home-security-service-302449517.html

SOURCE Arlo Technologies, Inc.

Continue Reading

Trending