vehicle diagnostics market Forecast to 2028 – Impact of COVID-19 and global analysis by vehicle type (light vehicle, commercial vehicle, heavy-duty vehicle); App (Auto Crash Notification, Vehicle Tracking, Vehicle Health Alert, Roadside Assistance); Connectivity (3G, 4G LTE, Wi-Fi, Bluetooth) and geography
Vehicle diagnostics includes real-time vehicle performance profiling of oil pressure, temperature, fuel consumption, tire pressure, and more. All of this detailed information is sent to the back-end to increase performance, enable avoidable maintenance, and reduce maintenance costs. The vehicle diagnostic system is usually part of auto service and is widely used in many vehicle service stations. The growing production of vehicles is expected to drive the growth of the vehicle diagnostic systems market in the coming years. Rising customer preference for luxury cars with latest high-tech features is expected to drive the vehicle diagnostic systems market over the forecast period. Vehicle diagnostics help prevent unwanted damage that can occur if proper precautions are not taken regarding the condition of the vehicle.
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Companies profiled in this report include: AVL DiTEST GmbH, Continental AG, Delphi Technologies (BorgWarner Inc.), Denso Corporation, MAGNA Telemotive GmbH, Robert Bosch GmbH, Snap-on Incorporated., Softing AG, Vector Informatik GmbH, Vidiwave Ltd
Based on vehicle type, the global vehicle diagnostics market is segmented into light-duty vehicles, commercial vehicles, and heavy-duty vehicles.
Based on application, the market is segmented into automatic accident notification, vehicle tracking, vehicle health alert and roadside assistance.
Based on connectivity, the market is divided into 3G, 4G LTE, Wi-Fi, and Bluetooth.
Growing inclination towards the latest technologies.
Growing urbanization and rising per capita disposable income to drive the growth of automotive diagnostics market.
New market players are entering the market given the growing demand for vehicle diagnostics.
Compatibility of the latest technologies with certain vehicles.
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IMPACT OF COVID-19 ON THE VEHICLE DIAGNOSTIC MARKET
COVID-19 started in Wuhan (China) from December 2019 and since then it has been spreading across the world at a rapid pace. The United States, Russia, Brazil, India, United Kingdom, France, Italy, Turkey and Spain are among the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic has severely affected some of the industries and the economy of various countries mainly due to travel restrictions, business closures and lockdowns. Due to travel limitations and restrictions, the number of vehicles on the road has become very less. Thus, the chances of wear and tear itself have decreased. Additionally, the impact of COVID-19 has made customers more reluctant towards premium vehicles and new technologies. This is hampering the growth of the automotive diagnostics market in the current scenario.
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