Automotive Diagnostics Market Growth Insights : Projected to Hit $109.84 Billion by 2030

According to a recent report published by Allied Market Research, titled, "Automotive Diagnostics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Device and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030."

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐃𝐢𝐚𝐠𝐧𝐨𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 𝟐𝟎𝟑𝟎 :

The global automotive diagnostics market was valued at $40.77 billion in 2020, and is projected to reach $109.84 billion by 2030, registering a CAGR of 10.5% from 2021 to 2030.

North America dominates the automotive diagnostics market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global automotive diagnostics market share in 2020. Mexico is expected to grow at a significant rate during the forecast period, owing to increase in demand for vehicles equipped with advanced features across the country.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A13069

Diagnostics are designed to be used in vehicles to determine the condition of the components used in the vehicle. Numerous types of vehicle diagnosis systems are offered by the companies operating in the market, which has created a positive impact on the growth of automotive diagnostics market. In addition, with advancements in vehicular technology, the need for installing on-board vehicular technology increased significantly, which has encouraged automotive diagnostics service providers to develop on-board diagnostics (OBD) for vehicles, thereby propelling the market growth.

Numerous developments have been carried out by the top manufacturers such as BMW AG, Continental AG, Delphi Automotive PLC., Denso Corporation, and Harman International toward offering automotive diagnostic systems. For instance, in April, 2019, Denso Corporation opened a Connected Services Pennsylvania Technical Center in Scranton. It was previously a part of EASE Simulation, Inc., an automotive diagnostics developer, that was fully acquired by DENSO in 2018. The technical center operates under Denso Products and Services Americas, Inc., and further enhances Denso's ability to deliver cutting-edge aftermarket products and services to customers across North America.

The global automotive diagnostics market share report is segmented into type, device, application, and region. Depending on type, the market is bifurcated into on-board and off-board diagnostic system. On the basis of device, it is segregated into hand-held tools, mobile-based tools, PC-based tools, and others. The applications covered in the study include passenger cars, light commercial vehicles, heavy commercial vehicles, and electric vehicles. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Factors such as development of the automotive industry, increase in demand for IoT-based technology, and high demand for safety features in vehicles augment the growth of the global automotive diagnostics market. However, high implementation cost coupled with complexities in configuration and frequent requirement for troubleshooting & high maintenance cost of automotive software create a negative impact on the market across the globe. Conversely, developments in semi-autonomous & autonomous vehicles and advent of multifunctional system are expected to open new avenues for the manufacturers of automotive diagnostics during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-diagnostics-market/purchase-options

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By type, the on-board segment is expected to register a significant growth during the forecast period.

Depending on device, the mobile-based tools segment is anticipated to exhibit significant growth in the near future.

Depending on application, the electric vehicle segment is anticipated to exhibit highest growth rate in the near future.

Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge.

It has affected general lifestyle and behavior pertaining to travel, consumption of goods, and services as well as working style of individuals.

Moreover, owing to the pandemic and its rapid spread across the globe, demand & supply chain for numerous products came to a halt due to unavailability of transportation medium.

This has increased the demand for electric vehicles, which, in turn, is expected to drive the growth of the automotive diagnostics market.

Moreover, numerous companies, which are inclined toward production of advanced technologies to be used in vehicles have carried out numerous developmental strategies such as agreements, expansions, product developments, and product launches.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A13069

The key players operating in the global automotive diagnostics market include BMW AG, Continental AG, Delphi Automotive PLC., Denso Corporation, Harman International, Magna International, Pioneer Corporation, Robert Bosch GmbH, Snap-On Inc., and Vector Informatik.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

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https://www.alliedmarketresearch.com/electric-scooter-and-motorcycle-market-A12724

Electric Vehicle Market
https://www.alliedmarketresearch.com/electric-vehicle-market

Utility Vehicle Market
https://www.alliedmarketresearch.com/utility-vehicle-market-A12422

Automotive Air Filters Market
https://www.alliedmarketresearch.com/automotive-air-filters-market-A13811

Automotive Relay Market
https://www.alliedmarketresearch.com/automotive-relay-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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