VEHICLE DIAGNOSTICS MARKET: Summary
The Global Vehicle Diagnostics Market is projected to reach around USD 39.6 billion by 2027 at a CAGR of around 13.8%.
Vehicle diagnostic is used to identify the correct cause of faults or problems after a breakdown in vehicles with the help of tools and then reprogramming it with support and software required to complete the repair. To run this test, a scanner is plugged into the port of the vehicle which helps in analyzing a number of issues associated with the oil and gas tanks, engine and transmission, exhaust system, and other systems. This is extensively used for all types of vehicles ranging from the passenger car, light commercial vehicle to heavy commercial vehicle.
VEHICLE DIAGNOSTICS MARKET: Drivers & Restraint
- Rising Demand for Safety concerns
The vehicle diagnostic system helps in analyzing any flaws with the help of tools installed in the vehicle and also tracks vehicle safety by monitoring driver’s performance to reduce risks of rapid acceleration, aggressive braking or speeding. Any safety failures may result in severe injury or loss of life. Rising vehicle accidents worldwide is driving the demand for consumer awareness towards vehicle safety features.
Thus, rising demand for safety concerns is expected to drive the vehicle diagnostics market growth during the forecast period.
- Stringent Regulations for Emission Reduction
With growing environmental concerns, strict regulations are imposed such as Bharat Stage Emission Standards (BSES), Clean Air Act, and others for reducing CO2 emission. The government of most of the countries have made vehicle diagnostic test, inspection and maintenance checks compulsory. For instance, the Clean Air Act states to conduct inspection programs to address the issues for vehicle emissions, vehicle maintenance and help in meeting the air quality standards.
So, stringent regulations imposed to reduce emissions is anticipated to boost the market growth during the forecast period.
Increasing number of electronic components in the vehicle would require additional data to be diagnosed on a real-time basis. Moreover, vehicles now can communicate with other devices through wired or wireless interfaces such as USB, Bluetooth, Wi-Fi,3G or even 4G LTE. The need to provide real-time information and communication would bring the threat of cyber-attacks.
Hence, data security threats are a restraining factor for vehicle diagnostics market growth during the assessment period.
Vehicle Diagnostics market: Key segments
- Based on Application: Vehicle Health Alert, Vehicle Tracking, Automatic Crash Notification (ACN), Roadside Assistance, Emission Testing, and Others.
- Based on Connectivity: Bluetooth, Wi-Fi, 3G, and 4G LTE.
- Based on Vehicle Type: Passenger Cars, Light-Commercial Vehicle (LCV) and Heavy-Commercial (HCV).
- Based on Sales Channel: Original Equipment Manufacturer (OEM) and Aftermarket.
- By Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa, with individual country-level analysis.
Vehicle Diagnostics MARKET: Report SCOPE
The report on the global vehicle diagnostics market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Units)
Application, Connectivity, Vehicle Type, and Sales Channel
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY Companies Covered
- Robert Bosch GmbH (Germany) (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Continental AG (Germany)
- Delphi Technologies (Ireland)
- DENSO CORPORATION (Japan)
- Snap-on Incorporated (US)
- Magneti Marelli S.p.A. (Italy)
- Softing AG (Germany)
- Vector Informatik GmbH (Germany)
- Vidiwave Ltd (UK)
- OnStar, LLC (US)
- VOXX International Corp. (US)
- Other Key Companies
Vehicle Diagnostics MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Vehicle Diagnostics Market, by Application
- Vehicle Health Alert
- Vehicle Tracking
- Automatic Crash Notification (ACN)
- Roadside Assistance
- Emission Testing
Vehicle Diagnostics Market, by Connectivity
- 4G LTE
Vehicle Diagnostics Market, by Vehicle Type
- Passenger Cars
- Light-Commercial Vehicle (LCV)
- Heavy-Commercial (HCV)
Vehicle Diagnostics Market, by Sales Channel
- Original Equipment Manufacturer (OEM)
Vehicle Diagnostics Market, by Region
- North America
- South Korea
- Australia & New Zealand
- Rest of Asia-Pacific
- The Netherlands
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market worldwide?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the world?
- How are the key players leveraging in the present market scenario globally?
- Vehicle Diagnostics Market Providers
- Vehicle Diagnostics Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Vehicle Diagnostics Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE VEHICLE DIAGNOSTICS MARKET STUDY