Press release
Automotive Diagnostics Market to Hit USD 106.8 billion in 2030 at a CAGR of 10.1%, Type, Device, Application, Diagnostic Device, Outlook, Region and Competitive Landscape
"Automotive Diagnostics Market"
Top players covered in Automotive Diagnostics Market report: BMW, Continental AG, Delphi Automotive PLC, Denso Corporation, Harman International, MAGNA International, Pioneer Corporation, Robert Bosch GmbH, Snap-On Inc., Vector Informatik, Bosch Automotive Service Solutions Inc., Continental AG, Delphi Technologies PLC, Denso Corporation, General Motors Company, Snap-On Incorporated, Robert Bosch GmbH, Siemens AG, Softing AG, AVL List GmbH, and Others.
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The automotive diagnostics market is experiencing a notable surge in revenue growth, primarily propelled by the increasing implementation of cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) within the automobile industry. These advanced technologies are revolutionizing diagnostic capabilities, enabling the development of sophisticated tools that can swiftly and reliably detect and diagnose issues by analysing massive amounts of real-time data. The integration of these technologies with diagnostic equipment is anticipated to be a key driver for future revenue growth in the automotive diagnostics market.
Another significant factor contributing to revenue growth in the automotive diagnostics sector is the expansion of the market for aftermarket diagnostic tools. The aftermarket segment is poised for substantial growth due to the growing demand for affordable diagnostic instruments that can be effectively utilized for vehicle maintenance and repair. Additionally, the increasing number of vehicles on the road and the need for regular maintenance and repairs further bolster revenue growth in the aftermarket segment.
Furthermore, the adoption of electric and hybrid vehicles is expected to drive revenue growth in the automotive diagnostics market. As the complexity of electronic systems in these vehicles continues to evolve, the demand for sophisticated diagnostic tools capable of identifying and resolving intricate problems in these systems will surge. Consequently, the market for automotive diagnostics is predicted to experience significant revenue growth as the demand for electric and hybrid automobiles rises.
Recent Developments
In the year 2021, Continental AG made a public announcement regarding their investment in Cartica AI, an Israeli startup specializing in advanced driver assistance systems (ADAS) software based on artificial intelligence (AI). This strategic partnership was forged with the objective of bolstering the advancement of Continental's ADAS solutions and solidifying their standing in the market.
During the year 2020, Delphi Technologies PLC made a notable announcement regarding its acquisition by BorgWarner Inc., a prominent worldwide provider of cutting-edge automotive technology solutions. The strategic acquisition is set to establish a dominant presence in the power electronics sector, facilitating the development of comprehensive electrification solutions tailored for the global automotive industry.
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Scope of the Automotive Diagnostics Market Report:
The Automotive Diagnostics Market is segmented into various segments such as Type, Device and Region:
Based on type, the automotive diagnostics market is segmented into:
On-board
Off-board
Based on the device, the automotive diagnostics market is segmented into:
Hand-held Tools
Mobile-based Tools
PC-based Tools
Others
Based on vehicle type, the automotive diagnostics market is segmented into:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Based on diagnostic device, the automotive diagnostics market is segmented into:
Market Snapshot
Market volume
Based on application outlook, the automotive diagnostics market is segmented into:
Vehicle Health Monitoring
Advanced Driver Assistance Systems (Adas) And Safety
Based on region, the automotive diagnostics market is segmented into:
Asia Pacific
Japan
China
India
Australia
South Korea
Vietnam
New Zealand
Philippines
Thailand
Malaysia
Hong Kong
Taiwan
Singapore
Indonesia
Sri Lanka
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
Austria
Finland
Belgium
Turkey
Russia
Poland
Hungary
Czech Republic
Switzerland
Netherlands
Rest of Europe
South America
Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East & Africa
South Africa
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa
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