The Reports and Insights, a leading market research company, has recently releases report titled “On Board Units (OBU) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global On Board Units (OBU) Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the On Board Units (OBU) Market?
The global on board units market size reached US$ 2.6 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 8.9 billion in 2032, exhibiting a growth rate (CAGR) of 14.7% during 2024-2032.
What are On Board Units (OBU)?
An On-Board Unit (OBU) is an electronic device found in vehicles, primarily used in transportation systems such as toll collection, fleet management, and intelligent transportation systems. OBUs are usually installed inside vehicles and communicate with roadside infrastructure or central systems using wireless communication technologies like GPS, GSM, or RFID. They are vital for functions such as tracking vehicle movements, collecting tolls electronically, managing fleet operations, and providing drivers with real-time information. OBUs are indispensable components of contemporary transportation systems, facilitating efficient and automated operations.
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What are the growth prospects and trends in the On Board Units (OBU) industry?
The on-board unit (OBU) market growth is driven by various factors and trends. The global On-board Units (OBU) market is witnessing substantial growth, fueled by the rising adoption of intelligent transportation systems and the demand for efficient toll collection and fleet management solutions. OBUs are increasingly being used in vehicles, especially in commercial fleets, due to their ability to enhance operational efficiency, reduce traffic congestion, and improve safety. Technological advancements, such as integrating OBUs with GPS, GSM, and RFID technologies, are also driving market growth by enabling more advanced features. Furthermore, government efforts to modernize transportation infrastructure and encourage electronic toll collection systems are contributing to the market’s expansion. Hence, all these factors contribute to on-board unit (OBU) market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Technology:
- Dedicated Short Range Communication (DSRC)
- Global Navigation Satellite Systems (GNSS)
By Connectivity:
- Cellular Networks
- Wi-Fi
- Bluetooth
By Application:
- Vehicle-to-Vehicle Communication
- Vehicle-to-Infrastructure Communication
- Vehicle-to-Pedestrian Communication
Segmentation By Region:
North America:
- United States
- Canada
Europe:
- Germany
- The U.K.
- France
- Spain
- Italy
- Russia
- Poland
- BENELUX
- NORDIC
- Rest of Europe
Asia Pacific:
- China
- Japan
- India
- South Korea
- ASEAN
- Australia & New Zealand
- Rest of Asia Pacific
Latin America:
- Brazil
- Mexico
- Argentina
Middle East & Africa:
- Saudi Arabia
- South Africa
- United Arab Emirates
- Israel
Who are the key players operating in the industry?
The report covers the major market players including:
- Mitsubishi
- Continental AG
- Commsignia
- Solaredge Technologies Inc
- Movyon SpA
- Q Free ASA
- Harman Automotion
- Unex Technology Corporation
- Danlaw Inc.
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