According to a market report by Lucintel, the future of the vehicle diagnostics market looks promising with opportunities in the passenger car and light commercial vehicle markets. The vehicle diagnostics market is expected to grow with a CAGR of 17% from 2019 to 2024. The major growth drivers for this market are stringent emission and fuel economy regulations, increasing pressure from OEMs to improve vehicle performance and collect relevant data, high demand for real-time vehicle diagnosis, and rising demand for safety and security in vehicles.
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Within the vehicle diagnostics market, passenger cars and light commercial vehicles are the major end use industries. Passenger car is the largest end use segment for the vehicle diagnostics market.
North America will remain the largest region over the forecast period due to high adoption rate of innovations and advanced technology in the region. Additionally, the demand for premium cars with advanced safety and security features is high in this region.
Robert Bosch, Continental, Delphi Automotive, OnStar, Snap-On, Magneti Marelli, Softing, VOXX International Corporation, Vector Informatik, and Vidiwave are among the major suppliers of vehicle diagnostics.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the vehicle diagnostics market by connectivity, by application, by end use, and by region. Lucintel has prepared a comprehensive research report titled "Vehicle Diagnostics Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the vehicle diagnostics market by connectivity, by application, by end use, and by region as follows:
By Connectivity [$M shipment analysis for 2013 – 2024]
4G LTE
3G
Bluetooth
Wi-Fi
By Application [$M shipment analysis for 2013 – 2024]
Automatic Crash Notification
Vehicle Tracking
Vehicle Health Alert
Roadside Assistance
By End Use [$M shipment analysis for 2013 – 2024]
Passenger Car
Small cars
Compact cars
Mid-Sized cars
Luxury cars
SUVs & Crossovers
Light Commercial Vehicle
By Region [$M shipment analysis for 2013 – 2024]
North America
Europe
Germany
Russia
France
United Kingdom
Italy
Asia Pacific
Japan
India
South Korea
Indonesia
Turkey
China
The Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/vehicle-diagnostics-market.aspx or helpdesk@lucintel.com.
About Lucintel
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