Automotive Diagnostics Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global market, the global Automotive Diagnostics market size was estimated at USD 54.2 billion in 2023 and is projected to reach USD 106.8 billion in 2030 at a CAGR of 10.1% during the forecast to 2030.
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The automotive diagnostics market is experiencing a notable surge in revenue growth, primarily propelled by the increasing implementation of cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) within the automobile industry.
These advanced technologies are revolutionizing diagnostic capabilities, enabling the development of sophisticated tools that can swiftly and reliably detect and diagnose issues by analysing massive amounts of real-time data. The integration of these technologies with diagnostic equipment is anticipated to be a key driver for future revenue growth in the automotive diagnostics market.
The Prominent Players in the Automotive Diagnostics Market are:
- BMW
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Harman International
- MAGNA International
- Pioneer Corporation
- Robert Bosch GmbH
- Snap-On Inc.
- Vector Informatik
- Bosch Automotive Service Solutions Inc.
- Continental AG
- Delphi Technologies PLC
- Denso Corporation
- General Motors Company
- Snap-On Incorporated
- Robert Bosch GmbH and More
Recent Developments: Automotive Diagnostics Market
- Continental AG made a public announcement regarding their investment in Cartica AI, an Israeli startup specializing in advanced driver assistance systems (ADAS) software based on artificial intelligence (AI). This strategic partnership was forged with the objective of bolstering the advancement of Continental’s ADAS solutions and solidifying their standing in the market.
- Delphi Technologies PLC made a notable announcement regarding its acquisition by BorgWarner Inc., a prominent worldwide provider of cutting-edge automotive technology solutions. The strategic acquisition is set to establish a dominant presence in the power electronics sector, facilitating the development of comprehensive electrification solutions tailored for the global automotive industry.
Key Findings
- Type segment contains On-Board Diagnostics (OBD), focus of this segment lies on the incorporation of diagnostic tools and systems within vehicles, serving the purpose of monitoring and detecting potential issues. These systems, known as OBD (On-Board Diagnostics), offer real-time data regarding the functioning of diverse vehicle components, empowering technicians to diagnose and resolve problems with efficiency and precision.
- Device segment sub segment Electric System Analyzer segment which is dedicated to the development of diagnostic tools tailored to analyze and test the electrical systems of vehicles. These specialized tools play a crucial role in identifying electrical faults, evaluating battery health, analyzing charging systems, and diagnosing issues associated with electronic components.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The Automotive Diagnostics Market in North America holds a significant position, and this dominance is expected to continue in the foreseeable future. The rising preference for connected cars and the stringent emission regulations in North America are key factors contributing to the increased demand for automotive diagnostics services.
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In addition to the market data for the Automotive Diagnostics Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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