Summary

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 Corporation; Movyon SpA; 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).

Insights Presented in the Report
“Amongst type, Sport OBU category to witness higher CAGR during the forecast period.”
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

“Amongst application, the commercial vehicle to experience significant growth.”
Based on application, the market is segmented into commercial vehicle and passenger vehicle. 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.

“Asia-Pacific (APAC) to hold a significant share in the market.”
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.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
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