Global OBU (On Board Units) Market is expected to foresee significant growth. North America leads the growth!
- Himanshu Patni
- May 16, 2023
- AUTOMOTIVE, NEWS
- OBU (On Board Units) Market, OBU (On Board Units) Market Analysis, OBU (On Board Units) Market Growth, OBU (On Board Units) Market Outlook, OBU (On Board Units) Market Report, OBU (On Board Units) Market Share, OBU (On Board Units) Market Size, OBU (On Board Units) Market Trends
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The OBU market refers to the demand and supply of electronic devices installed in vehicles to communicate with Intelligent Transport Systems (ITS) and facilitate toll collection, traffic management, and other related services. The market is expected to grow significantly in the coming years, driven by the increasing adoption of electronic toll collection systems and the growing demand for ITS solutions worldwide.
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The OBU Market is expected to grow at a steady rate of around 15% owing to the increasing need for efficient and reliable toll collection systems. As governments and private companies look to reduce traffic congestion and improve transportation infrastructure, electronic toll collection systems are becoming more widespread. This has led to a growing demand for OBUs that can facilitate fast and accurate toll collection. Major companies in the market offer OBU with technologically advanced features. For instance, in 2021, Siemens Mobility launched one of its new OBUs, the Sicore II, which is designed to support both DSRC (Dedicated Short-Range Communications) and C-V2X (Cellular Vehicle-to-Everything) communication standards.
Based on type, the market is segmented into Single-chip OBU (Without IC Card Interface) and Double-chip OBU (With IC Card Interface). Single-chip OBUs without IC card interfaces have been experiencing significant growth rates for several reasons. Firstly, single-chip OBUs are more compact and cost-effective than their counterparts which include IC card interfaces. By removing the need for an IC card reader, single-chip OBUs can be manufactured at a lower cost, which makes them more affordable for consumers. Secondly, single-chip OBUs offer greater convenience for users. Without the need for an IC card, drivers can simply attach the single-chip OBU to their vehicle and go. This makes the process of toll collection much faster and more efficient, which is especially important for busy highways and toll roads.
Based on application, the OBU market has been classified into commercial vehicle and passenger vehicle. The passenger vehicle segment of the OBUs market is expected to have a significant share in the upcoming forecast period due to, the increasing demand for advanced features in vehicles such as real-time traffic updates, navigation systems, and remote vehicle diagnostics is driving the growth of the market. This demand is fueled by the increasing adoption of connected car technology, which enables vehicles to be connected to the internet and other devices. Moreover, With the increasing number of toll roads and bridges around the world, electronic toll collection systems have become essential to reduce traffic congestion and improve the overall efficiency of the transportation system. This has led to the increased adoption of OBUs in passenger vehicles to enable seamless toll payments.
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For a better understanding of the market adoption of the OBU industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America has witnessed a significant growth rate in the OBU market, primarily due to the growing demand for efficient transportation solutions and the increasing need for better traffic management systems. The OBU market in North America is being driven by several key factors, including the increasing adoption of connected technologies in vehicles, the need for better traffic management systems, and the growing demand for real-time vehicle tracking solutions. One of the key drivers of the OBU market in North America is the increasing adoption of connected technologies in vehicles. The growing demand for connected cars and the rising number of vehicles with built-in telematics systems are fueling the growth of the OBU market. The use of OBU systems allows vehicle owners to track their vehicles in real-time, monitor driving behavior, and improve overall safety on the roads. Another driver of the OBU market in North America is the need for better traffic management systems. With increasing urbanization and the growing number of vehicles on the road, traffic congestion has become a major issue in many cities. Recent developments in the OBU market in North America have also contributed to its growth. For instance, in 2020, the Canadian government announced that it would be mandating the use of electronic logging devices (ELDs) in commercial vehicles. ELDs are a type of OBU system that records a driver’s hours of service to ensure compliance with government regulations.
Some of the major players operating in the market include Commsignia; Danlaw. Inc.; HARMAN International; Mitsubishi Motors Corporation; Movyon SpA; Q-Free ASA; SolarEdge; Continental AG; Unex Technology Corporation; and Kapsch TrafficCom AG.
Global OBU Market Segmentation
Market Insight, by Type
· Single-chip OBU (Without IC Card Interface)
· Double-chip OBU (With IC Card Interface)
Market Insight, by Application
· Passenger Vehicle
· Commercial Vehicle
Market Insight, by Region.
· North America
o Rest of North America
o United Kingdom
o Rest of Europe
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Danlaw, Inc.
· HARMAN International.
· Mitsubishi Motors Corporation
· Movyon SpA
· Q-Free ASA
· Continental AG
· Unex Technology Corporation
· Kapsch TrafficCom AG
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