An Outlook on the Global Vehicle Diagnostics Market to 2021-2026: Know Market Trends, Growth Factors, Covid-19 Impact

According to MarkNtel Advisors, the Global Vehicle Diagnostics Market is expected to grow at a CAGR of XX% in the forecast period of 2021-2026. It owes primarily to the technological advancements like electronic control module & advanced driver assistance system that enables users to identify the faults & errors in the vehicle and repair beforehand to avoid the workshop expenses.

Moreover, the rising awareness among people for fault intolerance & constant operation capabilities, coupled with increasing safety concerns, are massively propelling the need for vehicle diagnostics systems in the forecast period.

Furthermore, rapid urbanization, particularly in emerging economies, is booming the sales of premium vehicles substantially and further increasing the adoption of these sophisticated diagnostics tools, which shall surge its demand and significantly impact the Vehicle Diagnostics market in the forecast period.

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Critical Questions Answered in the Study
1. What are the current and future trends in the Global Vehicle Diagnostics Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Vehicle Diagnostics Market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Vehicle Diagnostics Market service providers across various regions?

Car Segment to Display the Fastest Market Growth During 2021-26

Based on the Engine, the Global Vehicle diagnostics Market segments into IC Engines and Electric Engines. The IC Engine further bifurcates into Cars, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle, while Electric Engine bifurcates into BEV & HEV. Among all, the Car sub-segment of the IC Engine is likely to observe the fastest market growth in the forecast period.

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The prime factors backing the rapid growth include the significant rise in the sales of cars, majorly due to the increasing disposable income of people and their changing living standards across the world. Although the hit from the Covid-19 pandemic slowed down the car sales, the Global Vehicle Diagnostics Market is gradually recovering from the loss & regaining its traction significantly.

Bluetooth to Dominate with the Largest Share of the Global Vehicle Diagnostics Market
Based on Connectivity, the Global Vehicle Diagnostics Market bifurcates into 4G LTE, 3G, Wi-Fi, Bluetooth, and Others. Of them all, the Bluetooth segment is more likely to dominate the market with the largest share in the forecast period.

It owes to the flooding demand for vehicle diagnostics from numerous end-users for assistance, navigation, diagnosis, etc. In addition, the popularity of in-car connectivity is further surging the demand for Bluetooth applications in these diagnostic systems.

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Besides, the easy connectivity of gadgets like smartphones, tablets, laptops, etc., with vehicle diagnostics through Bluetooth shall lead the segment to hold the largest market share in the forecast period, reveals MarkNtel Advisors in their research report, "Global Vehicle Diagnostics Market Analysis, 2021-2026."

Key Market Competitors:
According to MarkNtel Advisors, the leading Global Vehicle Diagnostics Market players are Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Onstar LLC, Snap-On Inc. Magneti Marelli, Softing AG, VOXX International Corporation, Vector Informatik, Vidiwave Ltd.

Market Segmentation:
1. By Application (Automatic Crash Notification, Vehicle Tracking Market, Vehicle Health Alert, Roadside Assistance Market, Others)
2. By Engine (IC Engine, (Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), Electric (BEV & HEV))
3. By Connectivity (4G LTE, 3G, Wi-Fi, Bluetooth, Others)
4. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
5. By Countries (US, Canada, Mexico, Brazil, Chile, Argentina, Germany, France, UK, Russia & CIS South Africa, Nigeria, UAE, Saudi Arabia, Kuwait, Qatar, China, India, Southeast Asia, Japan, Others)
6. By Competitors (Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Onstar LLC, Snap-On Inc., Magneti Marelli, Softing AG, VOXX International Corporation, Vector Informatik, Vidiwave Ltd.)

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About us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.