Vehicle Diagnostics Market Size, Growth, Share and Competitive Landscape - 2030

Markntel Advisors’ report, Vehicle Diagnostics Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Vehicle Diagnostics presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Vehicle Diagnostics Market Research Report & Market Summary:
The Global Vehicle Diagnostics Market size is valued at USD 48.21 billion in 2023 and is projected to reach USD 88.22 Billion in 2030. Along with this, the market is estimated to grow at a CAGR of around 10.1% during the forecast period. This market growth is attributed to the new vehicles that are getting increasingly complicated with their electronics, sensors, and software. Modern cars, buses, trucks, etc., have sophisticated electronic systems like advanced driver-assistance systems, autonomous driving technologies, infotainment systems, and electric powertrains.
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Vehicle Diagnostics Market Dynamics:Key Driver-
Rising Road Accidents Creating Immense Demand for Diagnostic Features in Vehicles– Fast urbanization and expansion of road networks have been increasing vehicle ownership and traffic density worldwide. With more vehicles on the road, the risk of accidents is also surging in developing countries where infrastructure development is usually not parallel to this growth in traffic. The poorly maintained vehicles and improper services of vehicles further lead to incidences such as brake failures, system crashes, airbags remaining closed, etc. This has resulted in severe road accidents and casualties across the globe. For Instance,

• In 2023, according to the World Health Organization (WHO), the number of annual road traffic deaths was about 1.19 million globally.

To mitigate these situations, regular diagnosis is carried out to detect impending failures of the critical components like brakes, tires, and steering systems creating the demand for vehicle diagnosis systems. This proactive approach in the maintenance of vehicles greatly reduces the risks of an accident occurring due to mechanical failure. Furthermore, the integration of telematics and connected vehicle technologies in vehicle diagnostics solutions makes provision for real-time monitoring and diagnostics, which enables fleet operators and individual drivers to receive real-time alerts on impending safety issues. This not only helps in avoiding accidents but also in post-accident analysis by providing data of value in improving vehicle standards of safety and design. Hence, surging road accidents dictate the need for vehicle diagnostics, thereby proliferating the growth of the Global Vehicle Diagnostic Market.
Vehicle Diagnostics Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Offering

• Hardware- Market Size & Forecast 2019-2030, USD Million
  • Diagnostic Scanners- Market Size & Forecast 2019-2030, USD Million
  • Handheld Devices- Market Size & Forecast 2019-2030, USD Million
  • Adapters and Connectors- Market Size & Forecast 2019-2030, USD Million
  • Others (Battery Testers, Analysers, etc.) - Market Size & Forecast 2019-2030, USD Million
• Software- Market Size & Forecast 2019-2030, USD Million

Out of them both, the hardware segment holds a considerable market share in the vehicle diagnostics market globally. Diagnostic hardware or tools, such as scan tools, code readers, and handhelds, are required to communicate directly with the vehicle's onboard diagnostics system surging their demand and adoption. 
By Vehicle Type

• Passenger Vehicles- Market Size & Forecast 2019-2030, USD Million
• Commercial Vehicles- Market Size & Forecast 2019-2030, USD Million
  • Light Commercial Vehicles- Market Size & Forecast 2019-2030, USD Million
  • Medium & Heavy Commercial Vehicles - Market Size & Forecast 2019-2030, USD Million

By Propulsion

• ICE (Internal Combustion Engine) - Market Size & Forecast 2019-2030, USD Million
• Electric - Market Size & Forecast 2019-2030, USD Million

By Application

• Automatic Crash Notification- Market Size & Forecast 2019-2030, USD Million
• Vehicle Tracking - Market Size & Forecast 2019-2030, USD Million
• Vehicle Health Alert- Market Size & Forecast 2019-2030, USD Million
• Roadside Assistance- Market Size & Forecast 2019-2030, USD Million
• Others (Vehicle Telematics, Emission Testing, etc.) - Market Size & Forecast 2019-2030, USD Million

By End User

• Automotive OEMs- Market Size & Forecast 2019-2030, USD Million
• Service Stations & Workshops- Market Size & Forecast 2019-2030, USD Million
• Fleet Operators- Market Size & Forecast 2019-2030, USD Million
• Government & Regulatory Bodies- Market Size & Forecast 2019-2030, USD Million

Based on end users, the service stations & workshops segment holds a substantial share of the market owing to the diversity of vehicles they provide services to and the sheer volume of vehicles as compared to OEMs and fleet operators. The service stations and workshops have a huge diversity of vehicles from various brands.
By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Of them all, Europe is anticipated to dominate the market with the largest share during the forecast period. The strict regulations by European authorities on vehicle emissions and safety have made it imperative to equip any vehicle with the latest OBDs. For instance, EU Euro 6 standards require complete monitoring of emissions; therefore, sophisticated diagnostic tools are key to meet such demand for compliance. 
As indicated in the latest market research report published by Markntel Advisors, “Vehicle Diagnostics Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Vehicle Diagnostics industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/vehicle-diagnostics-market.html
Top Companies Operating in the Vehicle Diagnostics Market:

• Robert Bosch GmbH
• Continental AG
• Delphi Automotive PLC
• Onstar LLC
• Snap-On Inc.
• Magneti Marelli
• Softing AG
• VOXX International Corporation
• Vector Informatic
• Vidiwave Ltd.
• Pioneer Incorporation
• Alpine Electronics Inc.
• Garmin Ltd.
• Harman International
• Denso Europe B.V

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Key Report Highlights:

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What leading factors would propel and impede the industry across the geography?
4. How has the industry been evolving in terms of geography & Vehicle Diagnostics Market adoption?
5. How has the competition been shaping up across the geography?

1. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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