According to the report by Expert Market Research (EMR), the global automotive diagnostics market size reached a value of USD 45.46 billion in 2023. Aided by the automotive industry’s shift towards more sophisticated, reliable, and environmentally friendly vehicles, the market is projected to further grow at a CAGR of 8.3% between 2024 and 2032 to reach a value of USD 93.76 billion by 2032.
The automotive diagnostics market is driving into the future with an unprecedented focus on technology, efficiency, and precision. As of 2023, this market has garnered significant attention, underpinned by the automotive industry’s shift towards more sophisticated, reliable, and environmentally friendly vehicles. Projected to accelerate at a compelling pace through 2029, automotive diagnostics are at the forefront of ensuring vehicle safety, performance, and compliance with global emissions standards.
Automotive diagnostics encompass a broad range of technologies designed to identify, troubleshoot, and rectify faults within vehicle systems. From basic code readers to advanced diagnostic software integrated with artificial intelligence (AI) and machine learning (ML), the field is evolving to keep pace with the increasing complexity of modern automobiles. These technologies enable real-time monitoring and predictive maintenance, significantly enhancing vehicle reliability and longevity.
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Several factors are propelling the automotive diagnostics market growth. The global push for reduced emissions and enhanced fuel efficiency mandates rigorous vehicle testing and monitoring, making diagnostics tools indispensable. Additionally, the proliferation of electric vehicles (EVs) and hybrid models, with their unique maintenance and performance monitoring needs, further bolsters demand for advanced diagnostic solutions.
According to the automotive diagnostics market analysis, the advent of connected cars and the Internet of Things (IoT) in the automotive sector has also been a game-changer. Vehicles equipped with onboard diagnostics systems (OBD-II) and telematics provide vast data streams that can be analysed for insights into vehicle health, predicting potential failures before they occur.
Moreover, consumer expectations for safety and vehicle performance are higher than ever, driving automakers and service providers to invest in diagnostic technologies that can ensure these standards are met.
Innovation is a key driver of the automotive diagnostics market demand. Cutting-edge diagnostic tools now offer features such as remote diagnostics, allowing technicians to assess vehicle health without physical access to the car. Cloud-based platforms and big data analytics are being leveraged to aggregate diagnostic data across numerous vehicles, enhancing predictive maintenance models and enabling manufacturers to swiftly address widespread issues.
Automotive Diagnostics Market Segmentation
The market can be divided based on offering, type, vehicle type, and region.
Market Breakup by Offering
- Software
- Hardware
- Services
Market Breakup by Type
- On-board
- Electric System Analyser
- Scan Tools
Market Breakup by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Automotive Diagnostics Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive diagnostics market. Some of the major players explored in the report by Expert Market Research are as follows:
- Robert Bosch GmbH
- Continental AG
- Delphi Automotive PLC
- Magna International Inc.
- HELLA GmbH & Co. KGaA
- DENSO Corp.
- KPIT Technologies Ltd.
- AVL DiTEST GmbH
- Hickok Waekon LLC
- Vector Informatik GmbH
- Vidiwave Limited
- Softing Automotive Electronics GmbH
- Others
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