Global Automotive Diagnostic Market to reach USD billion by 2027.Global Automotive Diagnostic Market is valued approximately USD billion in 2020 and is anticipated to grow with a healthy growth rate of more than % over the forecast period 2021-2027. Automotive diagnostics is the process of examining a vehicle's status to determine if it and its associated components are in good working order. To perform vehicle diagnostics, a variety of hardware and software components are utilized to build devices that provide precise information about the component or vehicle part. A vehicle-specific diagnostic system can identify faults with the engine, transmission, exhaust system, brakes, and other main components, as well as performance concerns regarding the fuel injector, air flow & coolant, ignition coils, and throttle. Vehicle diagnostic tools use specialized software, sensors, and microchips to rapidly and precisely pinpoint trouble areas in a vehicle's engine or elsewhere. Vehicle repair providers have created on-board and off-board diagnostic devices, which provide precise information on the defective item placed in a vehicle, owing to technological advancements. The global automotive diagnostics market is being driven by the growth of the automotive sector, an increase in demand for IoT-based technologies, and a growing need for safety features in cars. However, issues such as high installation costs, complexity in setup, and the frequent need for troubleshooting and expensive maintenance of automotive software have a negative influence, stifling the market's growth globally. On the other hand, advances in semi-autonomous and autonomous cars, as well as the introduction of multifunctional systems, are projected to provide lucrative possibilities for the worldwide automotive diagnostic market to grow over the forecast period. For instance, in April 2021, BMW AG, got FlexRay cables for EPS rack diagnostics. The company's cable MS-39009 is used to diagnose electronic steering racks in BMW 5, 7, and 8 series vehicles. Similar innovations and product releases by these market players contribute to the global automotive diagnostic market's growth.


The main regions of Asia Pacific, North America, Europe, Latin America, and the Rest of the World are included in the geographical analysis of the worldwide Automotive Diagnostic market. The market is dominated by North America, which is expected to develop at a significant CAGR over the forecasting years. This is because North America is home to a lot of technology firms that strive for improved infrastructure, has no financial limitations owing to the region's high wealth, and has favourable government laws and regulations for an efficient transportation system. By 2027, the Asia Pacific region is anticipated to have the largest market growth. The expansion of the market in this area is being driven by an increase in vehicle production and automotive workshops in both organized and unorganized markets.
Major market player included in this report are:
BMW
Continental AG
Delphi Automotive PLC
Denso Corporation
Harman International
MAGNA International
Pioneer Corporation
Robert Bosch GmbH
Snap-On Inc.
Vector Informatik
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Mode of Operation offerings of key players. The detailed segments and sub-segment of the market are explained below:
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
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Automotive Diagnostic Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors