Automotive On-board Diagnostics Market Newest Industry Data, Future Trends And Forecast 2021-2031
Automotive On-board Diagnostics Market: Introduction According to the report, the global automotive on-board diagnostics market is projected to reach US$ 22 Bn by 2031 , expanding at a CAGR of ~5% during the forecast period. Rise in the number of industries and employment and transformative government policies has led to an increase in per capita income of the population in various countries. For instance, according to the statistics of World Bank Group, the GDP of the global population, which is measured in terms of purchasing power parity, has tripled in the past few decades. This increase in purchasing power of the global population has led to an increase in the demand for vehicles across the globe. This increase in sales of vehicles is a major factor driving the global automotive on-board diagnostics market. Increase in awareness about vehicle safety has led to the incorporation of various electronic systems in vehicles, which, in tur...