The global automotive diagnostics market was valued at more than $40 billion in 2020. It is forecast that the market size will grow at a CAGR of more than 10% during the forecast period from 2021-2027.
A car diagnostic is an assessment of the vehicle’s condition to determine if its components and engine are working properly. Vehicle diagnostics entail the use of numerous hardware components and software configurations that provide precise information about the component or vehicle part that is being diagnosed. In addition to detecting problems with the fuel injector, airflow and coolant, ignition coils, throttle, and other components of a vehicle, a diagnostic system designed specifically for it will also provide information about the problems with the transmission and exhaust systems. Vehicle diagnostic tools diagnose problems with an engine or other parts of the vehicle using specialized software, sensors, and microchips. Vehicle service providers have developed, with the advance of technology, onboard and offboard diagnostic systems that provide information about the defective part installed in a vehicle.
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Factors Affecting the Global Automotive Diagnostic Market
- To drive the global automotive diagnostics market, the automotive industry is growing, the deployment of IoT-based technology increases and safety features in vehicles are becoming more prevalent.
- In addition to high implementation costs, complicated configurations, frequent software-related issues, and the requirement for extensive maintenance, certain factors of automotive software contribute to creating a negative impact on the industry, thereby hindering the market’s growth.
- During the forecast period, the global automotive diagnostic market will be fueled by factors such as the development of semi-autonomous & autonomous vehicles, and the arrival of multifunctional systems.
Impact of Covid-19 on the Global Automotive Diagnostics Market
- Covid-19 has presented unparalleled challenges in economics, humanitarianism, and healthcare.
- Consequently, individuals have become more careless in their travel, consumer behavior, and working style.
- A lack of transportation was a major factor that slowed down demand and supply chains for numerous products caused by the pandemic, which quickly spread across the globe.
- Electric cars are becoming more popular, which in turn should drive automotive diagnostics market growth.
- In recent years, many advanced technology manufacturers have undertaken a range of development strategies, including agreement signings, expansions, product launches, and product developments.
Regional Analysis: The Global Automotive Diagnostics Market
- During the forecast period, markets in the Asia Pacific, such as India and Southeast Asia, are expected to witness rising auto sales, thus boosting the market for vehicle diagnostics systems.
- China, Japan, and other countries in the Asia Pacific region made up the majority of the global vehicle diagnostics system market, owing to their production volumes and low manufacturing and labor costs. In addition, the availability of inexpensive labor and raw materials in the region, paired with the presence of several local manufacturers, is expected to propel the market in the Asia Pacific during the forecast period.
Key Players: The Global Automotive Diagnostic Market
The market research report on the global automotive diagnostics market profiles the following companies:
- BMW
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Harman International
- MAGNA International
- Pioneer Corporation
- Robert Bosch GmbH
- Snap-On Inc.
- Vector Informatik
Segmentation Analysis: The Automotive Diagnostic Market
Automotive diagnostics can be broken down into Types, Devices, Applications, and Regions.
Segmentation based on Type
- On-board
- Off-board
Segmentation based on Device
- Hand-held Tools
- Mobile-based Tools
- PC-based Tools
- Others
Segmentation based on Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
Segmentation based on Region
- Asia-Pacific
- North America
- Europe
- The Middle East and Africa
Table of Content
Chapter 1: Global Automotive Diagnostics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Automotive Diagnostics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Automotive Diagnostics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Automotive Diagnostics market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Automotive Diagnostics market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Automotive Diagnostics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Automotive Diagnostics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Automotive Diagnostics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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