Rise In Vehicle Leasing Fuels Demand For Vehicle Diagnostics Market: The Driving Engine Behind Vehicle Diagnostics Market Evolution in 2025

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Vehicle Diagnostics Market Size Growth Forecast: What to Expect by 2025?
In recent times, the size of the vehicle diagnostics market has experienced a swift expansion. The market, which is anticipated to escalate from $38.09 billion in 2024 to $44.26 billion in 2025, is expected to have a compound annual growth rate (CAGR) of 16.2%. Factors such as compliance with regulations, the demand for dependable vehicles by consumers, pressure to reduce vehicle upkeep costs, the worldwide spread of vehicle manufacturing, increasing vehicle ownership, and the management of vehicle fleets account for the growth seen in the historic period.

How Will the Vehicle Diagnostics Market Size Evolve and Grow by 2029?
Fast-paced expansion is anticipated in the vehicle diagnostics market size over the coming years. The market is projected to surge to $79.77 billion by 2029, boasting a compound annual growth rate (CAGR) of 15.9%. This impending growth over the projection period can be attributed to factors such as the growing complexity of vehicles, the emphasis on predictive analytics, a noted shift towards subscription-based models, the emergence of mobility-as-a-service (MaaS), and a heightened focus on sustainability. Key trends to observe during the forecast period comprise the growing acceptance of connected diagnostic solutions, broadening of predictive maintenance services, introduction of sophisticated sensor technologies, a marked shift towards software-centric diagnostics, along with the advent of augmented reality (AR) diagnostics.

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What Drivers Are Propelling the Growth of Vehicle Diagnostics Market Forward?
The growth of the vehicle diagnostics market is anticipated to surge due to the increasing trend of vehicle leasing. Vehicle leasing is a contractual agreement where a vehicle is rented by a company or an individual from a leasing corporation or a financial institution for a certain length of time, usually from months to years. The popularity of vehicle leasing stems from the ability to get newer vehicles, lowered upkeep costs, flexibility, and business tax advantages. In this scenario, vehicle diagnostics is crucial to maintain the performance of leased vehicles. It facilitates lessors in observing the health of the vehicle, identifying problems, and streamlining fleet management for consistent and trustworthy operation throughout the lease tenure. For instance, as stated by MotorFinanceOnline, a news and analysis website based in the UK and powered by Verdict Media Limited, in the first six months of 2022, 20%, or 1 in every 5 new leasing customers, were seeking to lease a pure battery electric vehicle (BEV). This represents a spike of 1575% in BEV demand compared to the previous years. This increase in vehicle leasing is hence contributing to the expansion of the vehicle diagnostics market.

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Which Emerging Trends Are Transforming the Vehicle Diagnostics Market in 2025?
Key players in the vehicle diagnostics market are channeling their resources into the development of vehicle battery diagnostic tools like MDX-AI, in a bid to gain an upper hand in the market. MDX-AI is leveraged to analyse the health, efficiency, and condition of batteries used in diverse tests. Specifically, in July 2024, Midtronics Inc., a prominent US manufacturer of battery management systems, unveiled MDX-AI, a pioneering battery diagnostic technology for automobile service apparatus. The cutting-edge solution utilizes artificial intelligence to enhance the precision and speed of battery health and performance evaluations. The company has designed MDX-AI, which is driven by artificial intelligence, to abolish 'Charge and Retest' judgements, offer immediate and precise assessments of battery health, and provide robust support for crucial functions in electric vehicles. It aims to tackle the problems service providers face in accurately diagnosing battery-related problems. With MDX-AI, technicians can make precise and speedy decisions about battery health, thereby improving efficiency and productivity in vehicle maintenance. Furthermore, MDX-AI possesses advanced features, including accurate testing of 12V batteries in electric vehicles, which are indispensable for ensuring the dependability of safety systems.

What Are the Key Segments in the Vehicle Diagnostics Market?
The vehicle diagnostics market covered in this report is segmented -

1) By Product Type: OBD2 Scanner, Multi-System Auto Diagnostic Tool, OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool, OBD2 Car Code Reader Or scan Tool, OBD2 Adapter Check Engine Diagnostic Tool, Smartphone Diagnostic Tool, Other Products
2) By Vehicle Type: Light-Duty Vehicle, Commercial Vehicle, Heavy Commercial Vehicle
3) By Equipment Type: Exhaust Gas Analyzer, Wheel Alignment Equipment, Headlight Tester, Paint Scan Equipment, Dynamometer
4) By Application: Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert, Roadside Assistance

Subsegments:
1) By OBD2 Scanner: Standard OBD2 Scanner, Advanced OBD2 Scanner
2) By Multi-System Auto Diagnostic Tool: OEM Multi-System Diagnostic Tool, After market Multi-System Diagnostic Tool
3) By OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool: Wireless OBDII Scanner with Bluetooth Connectivity, ECU Coding And Reprogramming OBDII Diagnostic Tools
4) By OBD2 Car Code Reader Or Scan Tool: Basic OBD2 Code Reader, Professional OBD2 Scan Tool
5) By OBD2 Adapter Check Engine Diagnostic Tool: OBD2 Bluetooth Adapter, OBD2 USB Adapter
6) By Smartphone Diagnostic Tool: Mobile App-Based Diagnostic Tools, Smartphone OBD2 Adapter Kits
7) By Other Products: Vehicle Battery Diagnostic Tools, TPMS Diagnostic Tools, Hybrid Or Electric Vehicle Diagnostic Tools, Automotive Performance Diagnostic Tools

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Who Are the Key Players Shaping the Vehicle Diagnostics Market's Competitive Landscape?
Major companies operating in the vehicle diagnostics market are DENSO Corporation, Continental AG, BorgWarner Inc., Snap-on Incorporated, ACTIA Group, AVL List GmbH, OnStar LLC, SPX Corporation, VOXX International Corporation, KPIT Technologies, Launch Tech Co. Ltd., Telemotive AG, Repairify Inc., ETAS GmbH, Magneti Marelli S.P.A., Softing AG, General Technologies Corporation, DSA Daten- und Systemtechnik GmbH, Autologic Diagnostics Ltd., Hickok Incorporated, AVL DiTEST GmbH, Vector Informatik GmbH, Vidiwave Limited, Autel Intelligent Technology Corp. Ltd., Robert Bosch GmbH

What Geographic Markets Are Powering Growth in the Vehicle Diagnostics Market?
North America was the largest region in the vehicle diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vehicle diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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