According to the recent research report titled ‘Asia Pacific On-board Diagnostics Aftermarket Forecast 2026 By Vehicle Type, By Component, By Application, Research Report, Regional Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific on-board diagnostics aftermarket is expected to exceed a valuation of USD 900 million by 2027.
 

Asia Pacific on-board diagnostics aftermarket growth can be ascribed to booming automobile sector and the car data offered with the help of the technology to provide value-added services to vehicle owners.
 

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4037675/
 

For the uninitiated, on-board diagnostics, or OBD, is a revolutionary technology that allows a vehicle to diagnose and report fault codes.
 

The automobile industry is one that is constantly evolving. Booming population is driving demand for efficient transportation. For instance, India's largest cities have seen significant levels of pollution, with increased automotive exhaust emissions playing a key role.
 

OBD systems also help in fleet management and driver activity tracking. Remote monitoring of distance, speed, time, route, idle, and other data is possible with accurate real-time insights, allowing for optimal fleet efficiency. All potential threats can be detected by analyzing driving habits.
 

As per application spectrum, usage-based Insurance (UBI) is projected to be one of the most attractive segments for Asia Pacific on-board diagnostics aftermarket. Insurance telematics and UBI are currently gaining prominence in the industry. The demand for a computerized fault detection system is increasing as vehicles become more reliant on electronics, driving demand across the region.
 

It is worth mentioning that 60% of the world's population resides in Asia Pacific. In terms of population, China and India are among the fastest-growing economies. Asian economies and businesses are undergoing technological transformations, given the region's strong industrialization.
 

The OBD system was first adopted in India in 2010, and all vehicles made after April 2020 must be fitted with the OBD 2 system, according to the most recent BS6 legislation. This development is anticipated to influence APAC aftermarket trends in on-board diagnostics.
 

China on-board diagnostics aftermarket share is predicted to expand at a rate of around 15% through 2026. The country’s passenger automobile market observed significant growth, generating a massive 19.99 million vehicles.
 

Further, the Chinese government is enacting new vehicle pollution limits and action plans to reduce the usage of gasoline and diesel vehicles, bolstering the regional industry share.
 

Coming to competitive terrain, Magneti Marelli S.p.A., Intel Corporation, Geotab Inc., ERM Electronic Systems Ltd. (Ituran), Continental AG, and Bosch Diagnostics (Robert Bosch GmbH) are the leading firms operating in Asia Pacific on-board diagnostics aftermarket.