Global Vehicle Diagnostics Market Overview:
According to MarkNtel Advisors study the Global Vehicle Diagnostics Market size is valued at USD 48.21 billion in 2023 and is projected to reach USD 88.22 million in 2030. Along with this, the market is estimated to grow at a CAGR of around 10.1% during the forecast period., i.e., 2024-30. This market growth is attributed to the new vehicles that are getting increasingly complicated with their electronics, sensors, and software. Modern cars, buses, trucks, etc., have sophisticated electronic systems like advanced driver-assistance systems, autonomous driving technologies, infotainment systems, and electric powertrains.
Key Findings of the Study: Vehicle Diagnostics market
Global Vehicle Diagnostics Market Opportunity:
Integration of AI and Machine Learning with Vehicle Diagnostic Systems to Propel Market Growth– The increasing complexity of today’s vehicles, which includes such modern systems as ADAS, electric powertrains, and connected technologies, has been putting AI increasingly into integration with vehicle diagnostics. AI allows real-time analysis of high-volume data from sensors and ECUs (Electric Control Units), improving the detection of faults and consequently predicting issues before failures. Thus, more efficient maintenance, reduced downtime, and increased safety of vehicles can be achieved. Moreover, AI personalizes diagnostics according to driving patterns to ensure optimum performance. Now, as these vehicles get more efficient, AI-driven diagnostics become an important part of their management and maintenance in keeping such systems running effectively and reliably. This has seen companies like V2M, Launch AI, SERP AI, etc., integrating AI with their vehicle diagnostic systems and solutions to provide more reliant and efficient data.
Moreover, AI makes it easy to develop friendly user interfaces for diagnostic tools, such as mobile apps providing real-time vehicle health updates and alerts to the driver, thus opening up advanced diagnostics even more to ordinary drivers. With the automotive sector becoming innovative day by day, AI in vehicle diagnostics is going to lead the next generation of smart, efficient, and reliable vehicles and hence create huge opportunities in the Global Vehicle Diagnostics Market.
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Scope of the Vehicle Diagnostics Market Report Segmentation
-By Offering
- Hardware- Market Size & Forecast 2019-2030, USD Million
- Software- Market Size & Forecast 2019-2030, USD Million
-By Vehicle Type
- Passenger Vehicles- Market Size & Forecast 2019-2030, USD Million
- Commercial Vehicles- Market Size & Forecast 2019-2030, USD Million
-By Propulsion
- ICE (Internal Combustion Engine) – Market Size & Forecast 2019-2030, USD Million
- Electric – Market Size & Forecast 2019-2030, USD Million
-By Application
- Automatic Crash Notification- Market Size & Forecast 2019-2030, USD Million
- Vehicle Tracking – Market Size & Forecast 2019-2030, USD Million
- Vehicle Health Alert- Market Size & Forecast 2019-2030, USD Million
- Roadside Assistance- Market Size & Forecast 2019-2030, USD Million
- Others (Vehicle Telematics, Emission Testing, etc.) – Market Size & Forecast 2019-2030, USD Million
-By End User
- Automotive OEMs- Market Size & Forecast 2019-2030, USD Million
- Service Stations & Workshops- Market Size & Forecast 2019-2030, USD Million
- Fleet Operators- Market Size & Forecast 2019-2030, USD Million
- Government & Regulatory Bodies- Market Size & Forecast 2019-2030, USD Million
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Geographical analysis:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Of them all, Europe is anticipated to dominate the market with the largest share during the forecast period. The strict regulations by European authorities on vehicle emissions and safety have made it imperative to equip any vehicle with the latest OBDs. For instance, EU Euro 6 standards require complete monitoring of emissions; therefore, sophisticated diagnostic tools are key to meet such demand for compliance. This creates immense demand for diagnostic solutions that monitor and report on emissions and vehicle performance accurately.
Global Vehicle Diagnostics Industry Recent Development:
- In 2023: Robert Bosch GmbH, a leading provider of vehicle technology, introduced the Bosch Car Doctor, a compact diagnostic tool equipped with advanced scanning capabilities and real-time data analysis features.
- In 2023: Delphi Automotive PLC launched a new online configurator for their diagnostic products and related accessories to help workshops access market-leading diagnostic solutions so they can expand their service offering and repair quality.
Current Landscape of Vehicle Diagnostics Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Vehicle Diagnostics market. The research report profiles major players, including
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- Robert Bosch GmbH
- Continental AG
- Delphi Automotive PLC
- Onstar LLC
- Snap-On Inc.
- Magneti Marelli
- Softing AG
- VOXX International Corporation
- Vector Informatic
- Vidiwave Ltd.
- Pioneer Incorporation
- Alpine Electronics Inc.
- Garmin Ltd.
- Harman International
- Denso Europe B.V
- Others
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