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2021
Automotive Diagnostics Market

Automotive Diagnostics Market by Type (On-board and Off-board), Device (Hand-held Tools, Mobile-based Tools, PC-based Tools, and Others), and Application (Passengers Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2021–2030

A13069
Pages: 267
Aug 2021 | 2368 Views
Author(s) : Abhay Singh , Sonia Mutreja
Tables: 126
Charts: 66
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COVID-19

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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.

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.

Automotive diagnostics is the process of analyzing the condition of the vehicle to determine whether the vehicle and its associated components are running in a proper condition. To carry out vehicle diagnosis, numerous hardware components and software are used to configure devices, which give the exact information about the component or vehicle part. Diagnostic system designed for a vehicle can reveal problems within a vehicle's engine, transmission, exhaust system, brakes, and other major components as well as performance issues with the fuel injector, air flow & coolant, ignition coils, and throttle. Using specialized software, sensors, and microchips, vehicle diagnostic tools quickly and accurately point to problem areas in a vehicle’s engine or elsewhere. With the advancement in technology, vehicle service providers have developed on-board and off-board diagnostic systems, which give the exact information about the defected part installed in a vehicle.

Automotive-Diagnostics-Market-2021-2030

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Development of the automotive industry, increase in demand for IoT-based technology, and high demand for safety features in vehicles acts as the key driving forces of the global automotive diagnostics market. However, factors such as high implementation cost coupled with complexities in configuration and frequent requirement of troubleshooting & high maintenance of automotive software create a negative impact, thereby hampering the growth of the market across the globe. On the contrary, factors such as developments in semi-autonomous & autonomous vehicles and advent of multifunctional system are expected to create remunerative opportunities for the expansion of the global automotive diagnostic market during the forecast period.

The global automotive diagnostics market is segmented into type, device, application, and region. Depending on type, the market 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 analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

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

Development of the automotive industry

The automotive industry has registered a significant growth in the recent years due to the introduction of vehicles with efficient fuel consumption technology. Numerous companies have been developing and introducing advanced vehicles equipped with different vehicular technologies, which has supplemented the growth of the global market. Moreover, the technology-driven companies such as Robert Bosch GmbH, Continental AG, and Delphi Automotive PLC are focusing on upgrading their existing vehicle diagnostic technologies, which is expected to open new avenues for the company to grow its business. For instance, in April 2021, BMW AG received FlexRay cables for EPS rack diagnosis. The cable MS-39009 offered by the company is used for diagnosis of electric steering racks in BMW 5, 7, and 8 series models. Similar developments & products launches carried out by these companies support the development of the global market.

Automotive Diagnostics Market
By Type

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On-board is projected as the most lucrative segments

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High demand for safety features in vehicles

The need for integration of safety features such as engine performance analysis, tire pressure monitoring system, parking assistance, traction control, electronic stability control, airbags, and telematics is in high demand, due to increase in number of road accidents worldwide. Vehicles with installed safety features offered by advanced driver assistance system (ADAS) can detect nearby obstacles or drive errors, thereby alerting the driver accordingly. In addition, these systems can automatically decelerate or stop the vehicle depending on the road conditions. 

Furthermore, road fatalities have increased significantly due to road accidents. For instance, according to the report of the World Health Organization, nearly 1.25 million people die in road accidents each year. Moreover, road traffic injuries leading to death are higher among teenagers. These factors are leading to the growing demand for safety features in vehicles, which help in preventing collision and accidents. This is further encouraging automobile companies to develop and introduce safety features to meet the increasing needs of the customers. Thus, high demand for safety features in vehicles drives the growth of the automotive diagnostics market during the forecast period. 

Automotive Diagnostics Market
By Device

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Mobile-based tools is projected as the most lucrative segments

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High implementation cost & configuration complexity

Constant technological advancements have necessitated the upgradation of system & software of automobiles required to keep them compatible with external environment. The cost of all components, including sensor, radio frequency, and fuzzy logics along with the assembly required in smart vehicles is significantly high. Many components and sensors are assembled in a single dielectric plate according to the compatibility, which incur high cost. In addition, this bulky system takes higher implementation cost, as it needs to be connected with the wireless devices installed in vehicles for its proper operation. Therefore, high configuration complexity coupled with higher initial implantation cost hinders the aftermarket adoption of diagnostic system in vehicles.

Automotive Diagnostics Market
By Application

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Electric Vehicle is projected as the most lucrative segments

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Developments in semi-autonomous and autonomous vehicles

Semi-autonomous and autonomous vehicles are largely dependent on software, and the increasing effort to deploy safe driving features is positively impacting the automotive diagnostics market growth. Several vehicle manufacturers such as BMW, Volvo, and Ford are integrating level 1 and level 2 autonomous technologies in their vehicles; some models with level 3 autonomy were also launched in 2019.

Furthermore, many leading automotive OEM companies are engaged in R&D and testing activities for level 4 and level 5 autonomous vehicles, in different cities around the world. These vehicles having different levels of automation are equipped with numerous ADAS and vehicle diagnosis features, which has led to the growth of the global market. For instance, microchip maker NVidia and car manufacturer Mercedes are planning to roll out software-defined autonomous vehicles by 2024 that are equipped with vehicle diagnostics and other safety features, which supplements the demand for autonomous vehicles. Thus, rapid developments in semi-autonomous and autonomous vehicles are expected to offer potential opportunities for the growth of the automotive diagnostics market. 

Automotive Diagnostics Market
By Region

2030
Europe 
North America
Asia-pacific
Lamea

asia-Pacific would exhibit the highest CAGR of 13.3% during 2021-2030.

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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.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the global automotive diagnostics market analysis along with current trends and future estimations to depict imminent investment pockets.
  • The overall automotive diagnostics market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global automotive diagnostics market with a detailed impact analysis.
  • The current automotive diagnostics market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Type

  • On-board
  • Off-board

By Device

  • Hand-held Tools
  • Mobile-based Tools
  • PC-based Tools
  • Others

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Electric Vehicles

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany 
    • France 
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan 
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

KEY PLAYERS

  • BMW
  • Continental AG
  • Delphi Automotive PLC
  • Denso Corporation
  • Harman International
  • MAGNA International
  • Pioneer Corporation
  • Robert Bosch GmbH
  • Snap-On Inc.
  • Vector Informatik
 

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The growth of the global automotive diagnostics market is driven by numerous developments carried out by top automotive diagnostics manufacturers. Moreover, technological advancements in vehicle safety and security components and the introduction of smart diagnosis system in vehicles are expected to drive the automotive diagnostics market growth.

Development in automotive industry, increased demand for IoT-based technology, and high demand for safety features in vehicles supplement the growth of the market across the globe. Moreover, companies operating in the automotive diagnostics industry are focusing on developments of products used in vehicle diagnostics, which is expected to create numerous opportunities for the growth of the market across the globe.

Moreover, rise in investments on building driverless vehicles and technological advancements in advanced driver assistance systems are expected to provide lucrative opportunities for growth of the global market in the future.

However, the factors such as high implementation cost & configuration complexity and frequent requirement for troubleshooting & high maintenance cost of automotive software create a negative  on the growth of the market across the globe. Conversely, developments in semi-autonomous & autonomous vehicles and advent of multifunctional system are expected to create numerous opportunities for the automotive diagnostic market during the forecast period.

Among the analyzed regions, North America is the highest revenue contributor, followed by Europe, Asia-Pacific, and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to maintain its lead during the forecast period, owing to increase in production and sales of vehicles, followed by the need for efficient aftermarket services.

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FREQUENTLY ASKED QUESTIONS?

A. The global automotive diagnostics market was valued at $40,765.00 million in 2020, and is projected to reach $109,838.00 million by 2030, registering a CAGR of 10.5% from 2021 to 2030

A. Introduction of on-board diagnostic system are the upcoming trends in automotive diagnostics industry

A. The sample for global automotive diagnostics market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. Diagnostics is the process of diagnosing the condition of the vehicle in order to determine the proper functioning of associated components in an vehicle.

A. The global automotive diagnostics market was valued at $40,765.00 million in 2020, and is registering a CAGR of 10.5% from 2021 to 2030

A. The company profiles of the top market players of automotive diagnostics market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the automotive diagnostics market.

A. Introduction of on-board diagnostic system is the market outlook in automotive diagnostics industry

A. Automotive diagnostics is a repair & maintenance feature designed specially for vehicles

A. China, Japan, UK, U.S., Germany, France are the key matured markets growing in the automotive diagnostics industry

A. Continuous product development followed by the introduction of advanced diagnostic system are the known and unknown adjacencies impacting the automotive diagnostics market

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