Automotive Diagnostic Monitoring Unit: Introduction
- Automotive diagnostic monitoring unit is designed to monitor and report the condition of the vehicle. Ports of the diagnostic monitoring unit gain access to various vehicle parameters such as engine data, vehicle speed, emission data, in the form of codes. These codes help solve almost any vehicle-related issue.
- The automotive diagnostic monitoring unit consists of ECU, sensors, and actuators. ECU collects the input from various sensors to control the actuators to obtain actual performance. The diagnostic unit provides information about vehicle emission level, engine temperature, chassis information, and other vehicle body information on the vehicle display.
Key Drivers of Automotive Diagnostic Monitoring Unit Market
- Rise in production of vehicles integrated with increasing number of safety standards across the globe is likely to propel the automotive diagnostic monitoring unit market. Rising consumer preference toward vehicle maintenance is likely to increase the demand for diagnostic monitoring units in vehicles. Rising vehicle electrification in vehicles is anticipated to enhance the use of diagnostic monitoring units in vehicles. This is anticipated to boost the automotive diagnostic monitoring unit market across the globe
- Rise in integration of infotainment systems in vehicles is likely to propel the automotive diagnostic monitoring unit market across the globe. Rise in consumer trend toward vehicle security and vehicle safety is prompting vehicle manufacturers to integrate the diagnostic monitoring unit in their vehicles. Major countries across the globe have made the integration of the vehicle emission level monitoring unit mandatory in vehicles, which is likely to further fuel the demand for automotive diagnostic monitoring unit across the globe. Major automotive service centers prefer diagnostic monitoring unit in vehicles, as it helps to find the root cause of the vehicle failure, which is likely to propel the automotive diagnostic monitoring unit market across the globe
Europe & Asia Pacific to hold significant share of global automotive diagnostic monitoring unit market
- Europe is projected to account for a major share of the global automotive diagnostic monitoring unit market due to a rise in the demand for safety and comfort features in vehicles across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Denso Corporation, Robert Bosch and Continental AG who have major facilities that undertake research & development on the diagnostic monitoring unit, which is likely to propel the automotive diagnostic monitoring unit market across the globe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global automotive diagnostic monitoring unit market due to an increase in sale of vehicles across the region. Presence of major automotive parts manufacturing industries across China, India, and Japan is anticipated to propel the automotive diagnostic monitoring unit market across Asia Pacific.
Key Players Operating in Automotive Diagnostic Monitoring Unit Market
The automotive diagnostic monitoring unit market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive diagnostic monitoring unit market are:
- ZF Friedrichshafen
- Robert Bosch GmbH
- Denso Corporation
- Continental AG
- LORD Corporation
- Magna International
- Aptiv Inc.
- NXP Semiconductor
- Hella GmbH & Co. KgaA
- Infineon Technologies
- ACTIA Group
- Snap-On Incorporated
Global Automotive Diagnostic Monitoring Unit Market: Research Scope
Global Automotive Diagnostic Monitoring Unit Market, by Propulsion
- Internal Combustion Engine (ICE)
- Battery Electric Vehicle(BEV)
- Hybrid Electric Vehicle (HEV)
Global Automotive Diagnostic Monitoring Unit Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Duty Truck
- Buses & Coach
Global Automotive Diagnostic Monitoring Unit Market, by Component
- Display Module
Global Automotive Diagnostic Monitoring Unit Market, by Sales Channel
Global Automotive Diagnostic Monitoring Unit Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.