According to a new report published by UnivDatos Markets Insights, the OBU Market is expected to grow at a CAGR of around 15% from 2022-2028. The analysis has been segmented into Type (Single-chip OBU [Without IC Card Interface] and Double-chip OBU [With IC Card Interface]); Application (Commercial Vehicle and Passenger Vehicle); Region/Country.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 – https://univdatos.com/report/obu-on-board-units-market/get-a-free-sample-form.php?product_id=37442

The OBU market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the OBU market. The OBU market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the OBU market at the global and regional levels.

 Market Overview

The global OBU market is expected to experience significant growth over the forecast period. The OBU is a key component in the Intelligent Transportation System (ITS) used for toll collection, tracking, and navigation purposes. The OBU market is driven by several factors, including the increasing adoption of ITS, the growing demand for electronic toll collection systems, and the rising need for real-time traffic information. Additionally, the government's initiatives to implement smart transportation systems, increasing demand for connected cars, and increasing demand for safety features in vehicles are further propelling the growth of the OBU market. Recently, the market has witnessed some new developments. For instance, in 2021, Continental AG launched its fifth generation OBU technology, which is an all-in-one device that can handle various functionalities, including electronic toll collection, positioning, and infotainment services.

Commsignia, Danlaw Inc, HARMAN International, Mitsubishi Motors North America, Inc., Movyon S.p.A., Q-Free ASA, SolarEdge, Continental AG, Unex Technology Corporation, AND Kapsch TrafficCom AG are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies. For Instance, in 2019 Danlaw Inc., an industry-leading provider of innovative vehicle connectivity solutions launched its C-V2X AutoLink On-board Unit (OBU) and RouteLink Roadside Unit (RSU).

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the global economy, including the OBU market. OBUs are electronic devices installed in vehicles that communicate with tolling systems, providing drivers with a convenient way to pay tolls, and allowing tolling authorities to collect fees more efficiently. The pandemic has led to a decrease in the use of vehicles, as many people have been working from home and avoiding unnecessary travel to reduce the risk of infection. This has resulted in a decrease in toll revenue and a corresponding decrease in the demand for OBUs. Additionally, the pandemic has disrupted global supply chains, leading to shortages of electronic components used in OBUs and other tolling systems. This has led to delays in the production and delivery of OBUs, which has further impacted the market.

The global OBU market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·         Based on type, the market is segmented into Single-chip OBU (Without IC Card Interface) and Double-chip OBU (With IC Card Interface). The Double-chip OBU (With IC Card Interface) category witnesses higher CAGR during the forecast period due to several key drivers. Firstly, the IC card interface allows for secure and convenient payment for tolls and other services, making it an attractive option for commercial vehicles. With the IC card interface, users can easily store and manage their payment information, making transactions faster and more efficient. Secondly, the double-chip design of these OBUs provides enhanced security features, which is essential in the transportation industry. With the double-chip design, one chip can be used for toll payments while the other can be used for security and authentication purposes. This helps prevent fraud and unauthorized access to the OBU system, ensuring the safety and security of both the vehicle and its occupants.

·         Based on type, the market is segmented into commercial vehicles and passenger vehicles. The commercial vehicle segment has been experiencing significant growth in the OBU market due to several key drivers. Firstly, the growing demand for efficient fleet management and optimization is driving the adoption of OBUs in commercial vehicles. OBUs provide real-time data on vehicle location, speed, and fuel consumption, which helps fleet managers optimize routes, reduce fuel costs, and improve overall operational efficiency. Secondly, the implementation of various government regulations mandating the use of OBUs in commercial vehicles is also contributing to the growth of this segment. For instance, in the European Union, the European Electronic Toll Service (EETS) Directive requires the use of OBUs to pay for tolls across member states, which has driven the adoption of OBUs in commercial vehicles.

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OBU Market Geographical Segmentation Includes:

·         North America (United States, Canada, and Rest of North America)

·         Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·         Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·         Rest of the World

The Asia-Pacific (APAC) region has a significant share of the OBU market due to several drivers that are unique to this region. One of the key drivers is the increasing demand for advanced transportation systems in emerging economies such as China, India, and Southeast Asian countries. As these countries continue to develop, there is a growing need for better traffic management systems to improve safety and reduce congestion. OBUs, which are essential components of intelligent transportation systems (ITS), play a critical role in achieving these goals by providing real-time information on traffic conditions, routing, and toll collection. Another driver of the OBU market in the APAC region is the increasing adoption of electronic toll collection (ETC) systems. Several countries in this region, such as Japan, South Korea, and Taiwan, have well-established ETC systems that rely on OBUs to facilitate toll collection. With the growing popularity of cashless payment systems and the need for faster and more efficient toll collection, there is a significant demand for OBUs in the APAC region. Recent new developments in the OBU market in the APAC region include the introduction of new technologies such as 5G and V2X (vehicle-to-everything) communication. These technologies are expected to revolutionize the way vehicles communicate with each other and with the surrounding infrastructure, making transportation safer, more efficient, and more environmentally friendly. For example, in Japan, the government has launched a V2X trial project that uses OBUs to provide real-time information on road conditions and traffic signals to connected vehicles.

The major players targeting the market include

·         Commsignia

·         Danlaw, Inc.

·         HARMAN International.

·         Mitsubishi Motors Corporation

·         Movyon SpA

·         Q-Free ASA

·         SolarEdge

·         Continental AG

·         Unex Technology Corporation

·         Kapsch TrafficCom AG

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the OBU market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the OBU market?

• Which factors are influencing the OBU market over the forecast period?

• What are the global challenges, threats, and risks in the OBU market?

• Which factors are propelling and restraining the OBU market?

• What are the demanding global regions of the OBU market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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