Vehicle Diagnostics Market to Reach USD 103.56 Billion by 2033

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Description

Vehicle Diagnostics Market Overview

The Vehicle Diagnostics Market Size is expected to reach USD 103.56 Billion by 2033. The Vehicle Diagnostics Market industry size accounted for USD 30.25 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 10.54% from 2023 to 2033. The vehicle diagnostics market refers to the industry involved in the detection, analysis, and diagnosis of problems in automotive vehicles using specialized tools and software. These diagnostic systems gain access to a vehicle’s computer via an on-board diagnostic (OBD) port, reading data from the system to identify faults and malfunctions in various Components such as the engine, transmission, brakes, and more.

The vehicle diagnostics market is driven by factors such as the increasing complexity of modern vehicles, the need for efficient maintenance and repair, and the growing demand for telematics and connected car services. As vehicles become more technologically advanced, the demand for sophisticated diagnostic tools and services is also expected to increase.

Global Vehicle Diagnostics Market Synopsis

COVID-19 Impact Analysis

The COVID-19 pandemic had several impacts on the Vehicle Diagnostics Market. The pandemic disrupted global supply chains, affecting the availability of diagnostic tools and equipment. Delays in manufacturing and shipping impacted the distribution of diagnostic products. With a decrease in vehicle usage during lockdowns, the demand for vehicle diagnostics services declined. However, there was an increased focus on maintaining vehicles for when travel restrictions were lifted. The pandemic accelerated the adoption of digital tools and remote diagnostics. Workshops and service centers adopted virtual diagnostics and remote support to continue servicing vehicles while minimizing physical contact. The need for remote diagnostics and advanced technological solutions spurred innovation in the market. Companies developed new diagnostic tools that could be used remotely or were integrated with telematics systems to enhance vehicle monitoring and management.

Vehicle Diagnostics Market Dynamics

The major factors that have impacted the growth of Vehicle Diagnostics Market are as follows:

Drivers:

Ø Technological Advancements

Innovations such as telematics, IoT, and AI are being integrated into diagnostic tools, enhancing their capabilities and making them more appealing to both service centers and vehicle owners. As vehicle repair costs rise, both consumers and service centers are investing in diagnostic tools to ensure accurate and efficient repairs, which helps in managing costs and improving service quality. The increasing number of vehicles on the road globally boosts the need for diagnostic services and tools to maintain and repair these vehicles.

Restraint:

Perception of High Cost of Advanced Diagnostic Tools and Complexity of Vehicle Systems

The initial investment required for advanced diagnostic tools and equipment can be high, which may be a barrier for small repair shops and service centers. The increasing complexity of modern vehicles can pose challenges for diagnostic tools, requiring continuous updates and advanced technologies that can be costly to develop and maintain. The fast pace of technological advancements in vehicles and diagnostic tools can lead to rapid obsolescence, requiring frequent updates and investments to keep up with new technologies.

Opportunity:

⮚ Growth in Electric and Autonomous Vehicles

The rise of electric and autonomous vehicles requires specialized diagnostic tools and solutions tailored to their unique systems, creating new market segments and opportunities for innovation. The development of mobile diagnostic applications and tools that can be used with smartphones and tablets offers convenience and accessibility, catering to both consumers and service centers.

Vehicle Diagnostics Market Segment Overview

By Type

Based on Type, the market is segmented based on Light-Duty Vehicle and Commercial Vehicle.

By Connectivity

Based on Connectivity, the market segment has been divided into 4G LTE, 3G, Bluetooth and Wi-Fi. Wi-Fi is expected to increase the quickest throughout the projection period. It is the result of rising technical breakthroughs and reliance on easily accessible gadgets and networking mediums for car diagnostics. Because a Wi-Fi connection allows the user to maintain an unbroken connection with the car diagnostics and view the vehicle’s real-time condition, the demand for Wi-Fi connectivity is increasing substantially.

By Application

Based on Application, the market segment has been divided into Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert and Roadside Assistance. The high demand for roadside assistance as a standard feature in vehicles is linked to its benefits like as service at the moment of vehicle breakdown, emergency support, and dispatching a mechanic in case of serious failure.

Global Vehicle Diagnostics Market Regional Analysis

Based on region, the global Vehicle Diagnostics Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Vehicle Diagnostics Market followed by the Asia-Pacific and Europe regions.

Vehicle Diagnostics North America Market

North America holds a dominant position in the Vehicle Diagnostics Market. North America is a mature market with significant adoption of advanced vehicle diagnostics technologies and growth in connected vehicle technologies, increasing focus on preventive maintenance, and the rise of electric and autonomous vehicles driving the need for specialized diagnostics.

Vehicle Diagnostics Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Vehicle Diagnostics Market industry. Asia-Pacific is the fastest-growing region, fueled by rising vehicle production and ownership, particularly in countries like China, India, and Japan and rising demand for cost-effective diagnostics solutions, expansion of automotive service centers, and increasing adoption of advanced diagnostics tools in emerging markets.

Competitive Landscape

The global Vehicle Diagnostics Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

Robert Bosch GmbH
Continental AG
Yazaki Corporation
Magneti Marelli S.P.A.
Delphi Automotive PLC
Denso Corporation
Harman International
Alpine Electronics
Pioneer Corporation
Clarion Co. Ltd.

Key Development

In October 2023, Indian giant Reliance launched their new product called JioMotive which is a pocket-sized onboard diagnostics device which transforms an ordinary automobile into a smart vehicle.

Scope of the Report

Global Vehicle Diagnostics Market, by Type

Light-Duty Vehicle
Commercial Vehicle

Global Vehicle Diagnostics Market, by Connectivity

4G LTE
3G
Bluetooth
Wi-Fi

Global Vehicle Diagnostics Market, by Application

Automatic Crash Notification
Vehicle Tracking
Vehicle Health Alert
Roadside Assistance

Global Vehicle Diagnostics Market, by Region

North America
- US
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
South America
- Brazil
- Argentina
- Rest of South America
Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa

Parameters	Indicators
Market Size	2033: $103.56 Billion
CAGR	10.54% CAGR (2023-2033)
Base year	2022
Forecast Period	2023-2033
Historical Data	2021
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Product Type, End User
Geographies Covered	North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors	Conagra Brands Inc, Kellogg Company, Ajinomoto Co Inc, Nestle, Aryzta, General Mills Inc, Cargill Incorporated, Associated British Foods, The Kraft Heinz Company, JBS S.A.
Key Market Opportunities	• Growth in Electric and Autonomous Vehicles • Integration with Mobile Platforms
Key Market Drivers	• Technological Advancements • Rising Vehicle Maintenance and Repair Costs

REPORT CONTENT BRIEF:

High-level analysis of the current and future Vehicle Diagnostics Market trends and opportunities
Detailed analysis of current market drivers, restraining factors, and opportunities in the future
Vehicle Diagnostics Market historical market size for the year 2021, and forecast from 2023 to 2033
Vehicle Diagnostics Market share analysis at each product level
Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
To identify and understand the various factors involved in the global Vehicle Diagnostics Market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

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Frequently Asked Questions (FAQ)

What is the study period of this market?

The study period of the global Vehicle Diagnostics Market is 2021- 2033

What is the growth rate of the global Vehicle Diagnostics Market?

The global Vehicle Diagnostics Market is growing at a CAGR of 10.54% over the next 10 years

Which region has the highest growth rate in the market of Vehicle Diagnostics Market?

Asia Pacific is expected to register the highest CAGR during 2023-2033

Which region has the largest share of the global Vehicle Diagnostics Market?

North America holds the largest share in 2022

Who are the key players in the global Vehicle Diagnostics Market?

Conagra Brands Inc, Kellogg Company, Ajinomoto Co Inc, Nestle, Aryzta, General Mills Inc, Cargill Incorporated, Associated British Foods, The Kraft Heinz Company, and JBS S.A. are the major companies operating in the market

Do you offer Post Sale Support?

Yes, we offer 16 hours of analyst support to solve the queries

Do you sell particular sections of a report?

Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives

Table of Content

Chapter 1.   Executive Summary

Chapter 2.   Scope of The Study

                     2.1.   Market Definition

                     2.2.   Scope of The Study

                               2.2.1.   Objectives of Report

Chapter 3.   Evolve BI Methodology

Chapter 4.   Market Insights and Trends

                     4.1.   Supply/ Value Chain Analysis

                     4.2.   Porter’s Five Forces Analysis

                               4.2.1.   Threat of New Entrants

                               4.2.2.   Bargaining Power of Buyers

                               4.2.3.   Bargaining Power of Suppliers

                               4.2.4.   Threat of Substitutes

                               4.2.5.   Industry Rivalry

                     4.3.   Impact of COVID-19 on Vehicle Diagnostics Market

                               4.3.1.   Impact on Market Size

                               4.3.2.   End User Trend, Preferences and Budget Impact

                               4.3.3.   Regulatory Framework/Government Policies

                               4.3.4.   Key Players Strategy to Tackle Negative Impact

                               4.3.5.   Opportunity Window

Chapter 5.   Market Dynamics

                     5.1.   Introduction

                     5.2.   DRO Analysis

                               5.2.1.   Drivers

                               5.2.2.   Restraints

                               5.2.3.   Opportunities

Chapter 6.   Global Vehicle Diagnostics Market, By Type

                     6.1.   Introduction

                     6.2.   Light-Duty Vehicle

                     6.3.   Commercial Vehicle

Chapter 7.   Global Vehicle Diagnostics Market, By Connectivity

                     7.1.   Introduction

                     7.2.   4G LTE

                     7.3.   3G

                     7.4.   Bluetooth

                     7.5.   Wi-Fi

Chapter 8.   Global Vehicle Diagnostics Market, By Application

                     8.1.   Introduction

                     8.2.   Automatic Crash Notification

                     8.3.   Vehicle Tracking

                     8.4.   Vehicle Health Alert

                     8.5.   Roadside Assistance

Chapter 9.   Global Vehicle Diagnostics Market, By Region

                     9.1.   Introduction

                     9.2.   North America

                               9.2.1.   Introduction

                               9.2.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.2.3.   Market Size and Forecast, By Country, 2020 - 2028

                               9.2.4.   Market Size and Forecast, By Type, 2020 - 2028

                               9.2.5.   Market Size and Forecast, By Connectivity, 2020 – 2028

                               9.2.6.   Market Size and Forecast, By Application, 2020 – 2028

                               9.2.7.   US

                                              9.2.7.1.   Introduction

                                              9.2.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.2.7.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.2.7.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.2.7.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.2.8.   Canada

                                              9.2.8.1.   Introduction

                                              9.2.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.2.8.4.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.2.8.5.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.2.8.6.   Market Size and Forecast, By Application, 2020 - 2028

                     9.3.   Europe

                               9.3.1.   Introduction

                               9.3.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.3.3.   Market Size and Forecast, By Country, 2020 - 2028

                               9.3.4.   Market Size and Forecast, By Type, 2020 - 2028

                               9.3.5.   Market Size and Forecast, By Connectivity, 2020 – 2028

                               9.3.6.   Market Size and Forecast, By Application, 2020 – 2028

                               9.3.7.   Germany

                                              9.3.7.1.   Introduction

                                              9.3.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.7.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.3.7.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.3.7.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.3.8.   France

                                              9.3.8.1.   Introduction

                                              9.3.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.8.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.3.8.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.3.8.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.3.9.   UK

                                              9.3.9.1.   Introduction

                                              9.3.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.9.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.3.9.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.3.9.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.3.10.   Italy

                                              9.3.10.1.   Introduction

                                              9.3.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.10.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.3.10.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.3.10.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.3.11.   Rest of Europe

                                              9.3.11.1.   Introduction

                                              9.3.11.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.11.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.3.11.4. Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.3.11.5.   Market Size and Forecast, By Application, 2020 - 2028

                     9.4.   Asia-Pacific

                               9.4.1.   Introduction

                               9.4.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.4.3.   Market Size and Forecast, By Country, 2020 - 2028

                               9.4.4.   Market Size and Forecast, By Type, 2020 - 2028

                               9.4.5.   Market Size and Forecast, By Connectivity, 2020 – 2028

                               9.4.7.   Market Size and Forecast, By Application, 2020 - 2028

                               9.4.8.   China

                                              9.4.8.1.   Introduction

                                              9.4.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.8.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.4.8.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.4.8.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.4.9.   India

                                              9.4.9.1.   Introduction

                                              9.4.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.9.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.4.9.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.4.9.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.4.10.   Japan

                                              9.4.10.1.   Introduction

                                              9.4.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.10.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.4.10.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.4.10.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.4.11.   South Korea

                                              9.4.11.1.   Introduction

                                              9.4.11.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.11.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.4.11.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.4.11.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.4.12.   Rest of Asia-Pacific

                                              9.4.11.1.   Introduction

                                              9.4.12.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.12.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.4.12.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.4.12.5.   Market Size and Forecast, By Application, 2020 - 2028

                     9.5.   Rest of The World (RoW)

                               9.5.1.   Introduction

                               9.5.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.5.3.   Market Size and Forecast, By Type, 2020 - 2028

                               9.5.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                               9.5.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.5.6.   Market Size and Forecast, By Region, 2020 - 2028

                               9.5.7.   South America

                                              9.5.7.1.   Introduction

                                              9.5.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.5.7.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.5.7.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.5.7.5.   Market Size and Forecast, By Application, 2020 - 2028

                               9.5.8.   Middle East & Africa

                                              9.5.8.1.   Introduction

                                              9.5.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.5.8.3.   Market Size and Forecast, By Type, 2020 - 2028

                                              9.5.8.4.   Market Size and Forecast, By Connectivity, 2020 – 2028

                                              9.5.8.5.   Market Size and Forecast, By Application, 2020 - 2028

Chapter 10.   Competitive Landscape

                     10.1.   Introduction

                     10.2.   Vendor Share Analysis, 2020/Key Players Positioning 2020

Chapter 11.   Company Profiles

                     11.1.   Robert Bosch GmbH

                               11.1.1.   Business Overview

                               11.1.2.   Financial Analysis

                               11.1.3.   Product Portfolio

                               11.1.4.   Recent Development and Strategies Adopted

                               11.1.5.   SWOT Analysis

                     11.2.   Continental AG

                               11.2.1.   Business Overview

                               11.2.2.   Financial Analysis

                               11.2.3.   Product Portfolio

                               11.2.4.   Recent Development and Strategies Adopted

                               11.2.5.   SWOT Analysis

                     11.3.   Yazaki Corporation

                               11.3.1.   Business Overview

                               11.3.2.   Financial Analysis

                               11.3.3.   Product Portfolio

                               11.3.4.   Recent Development and Strategies Adopted

                               11.3.5.   SWOT Analysis

                     11.4.   Magneti Marelli S.P.A.

                               11.4.1.   Business Overview

                               11.4.2.   Financial Analysis

                               11.4.3.   Product Portfolio

                               11.4.4.   Recent Development and Strategies Adopted

                               11.4.5.   SWOT Analysis

                     11.5.   Delphi Automotive PLC

                               11.5.1.   Business Overview

                               11.5.2.   Financial Analysis

                               11.5.3.   Product Portfolio

                               11.5.4.   Recent Development and Strategies Adopted

                               11.5.5.   SWOT Analysis

                     11.6.   Denso Corporation

                               11.6.1.   Business Overview

                               11.6.2.   Financial Analysis

                               11.6.3.   Product Portfolio

                               11.6.4.   Recent Development and Strategies Adopted

                               11.6.5.   SWOT Analysis

                     11.7.   Harman International

                               11.7.1.   Business Overview

                               11.7.2.   Financial Analysis

                               11.7.3.   Product Portfolio

                               11.7.4.   Recent Development and Strategies Adopted

                               11.7.5.   SWOT Analysis

                     11.8.   Alpine Electronics

                               11.8.1.   Business Overview

                               11.8.2.   Financial Analysis

                               11.8.3.   Product Portfolio

                               11.8.4.   Recent Development and Strategies Adopted

                               11.8.5.   SWOT Analysis

                     11.9.   Pioneer Corporation

                               11.9.1.   Business Overview

                               11.9.2.   Financial Analysis

                               11.9.3.   Product Portfolio

                               11.9.4.   Recent Development and Strategies Adopted

                               11.9.5.   SWOT Analysis

                     11.10.   Clarion Co., Ltd.

                               11.10.1.   Business Overview

                               11.10.2.   Financial Analysis

                               11.10.3.   Product Portfolio

                               11.9.4.   Recent Development and Strategies Adopted

                               11.9.5.   SWOT Analysis

Chapter 12.   Key Takeaways

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Research Methodology

Vehicle Diagnostics Market Analysis and Global Forecast 2023-2033