Global Vehicle Diagnostics System Market: Overview
Vehicle diagnostics system market involve the usage of robust diagnostic solutions required for the repair and maintenance of complex electrical & electronics systems and sensors, which enable the vehicle to function properly. It is a system by virtue of which a vehicle is capable of self-diagnostic and reporting capability. Vehicle diagnostics system is basically a part of auto service and is primarily used in vehicle service stations. Vehicle diagnostics system helps identify and assess problems associated with the vehicle that are likely to negatively affect the overall operational efficiency and performance. For running a vehicle diagnostics, a scanner is plugged into a port in the vehicle that identifies the flaws, if present, in various components of the vehicle such as powertrain, chassis, body, etc.
Global Vehicle Diagnostics System Market: Drivers and Restraints
Increasing production volume of vehicles is expected to drive the vehicle diagnostics system market during the forecast period. Increasing awareness among consumers, vehicle manufacturers, as well as vehicle service providers regarding vehicle safety and security in recent years is anticipated to further boost the vehicle diagnostics system market in the near future. Rising demand for premium segment of passenger cars owing to the increasing consumer preference for luxury cars equipped with advanced high-tech features is anticipated to fuel the vehicle diagnostics system market during the forecast period.
However, vehicle diagnostic systems market alone are not entirely sufficient for resolving all the issues associated with vehicles. Certain minor mechanical problems are likely to be present in the vehicle, for which the vehicle diagnostics system may not necessarily show an error. For example, vague rattles and other noises, inexplicable loss in fuel efficiency, and steering that pulls to one side or another are few minor flaws that are not detected by vehicle diagnostic systems and essentially require the expertise of a skilled operator or mechanic to resolve them. These minor drawbacks of vehicle diagnostic systems are expected to hamper the vehicle diagnostics system market to some extent during the forecast period.
Global Vehicle Diagnostics System Market: Key Segments
The global vehicle diagnostics system market can be segmented into vehicle, function, application, connectivity, sales channel, and region. In terms of vehicle, the vehicle diagnostics system market can be segmented into three categories. The commercial vehicles segment can be further sub-segmented into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and buses & coaches. For different type of vehicle, vehicle diagnostic system with different specification should be used.
In terms of function, the vehicle diagnostics system market for automotive is classified into six categories. This segmentation is based on function that the diagnostic system performs. The engine control diagnostic segment holds major share of the market. Engine components must be analyzes regularly so as to be sure about the engine condition. Hence the engine control diagnostic system is mostly being equipped in the vehicle. Another segment of vehicle diagnostics control system based on function is battery and charging system. As the demand for electric and hybrid vehicles is growing, the demand for battery and charging diagnostic system is growing in parallel with it.
Based on application, the vehicle diagnostics system market can be divided into three segments. The vehicle health alert & roadside assistance segment is anticipated to expand at a rapid pace during the forecast period since the health alert & roadside assistance feature is a part of the remote vehicle diagnostics and provides emergency assistance services if the vehicle breaks down in between a journey.
Based on connectivity, the vehicle diagnostics system market can be classified into four types. The Bluetooth segment is expected to expand at a significant growth rate during the forecast period. Directly connecting to the any of the network mode, enhances chances of hacking the system. If the system gets hacked, the hacker can gain direct control over the vehicle and can even cut off the brakes, disable the transmission, or lock the driver inside the car. These drawbacks of other network connectivity are expected to provide promising opportunities for the usage of Bluetooth connectivity for vehicle diagnostics in the near future.
Based on sales channel, the market is classified into two categories. The OEM segment holds leading market share owing to the long term agreement between the vehicle manufacturers and the component suppliers.
Based on geographical region, the vehicle diagnostics system market can be segmented into five prominent regions. Asia Pacific is expected to dominate the global vehicle diagnostics market during the forecast period owing to the increasing demand for vehicles in the region and the presence of strong manufacturing footprint of major vehicle manufacturers in few countries of Asia Pacific such as China, Japan and South Korea.
Global Vehicle Diagnostics System Market: Key Players
Key players operating in the global vehicle diagnostics system market include Robert Bosch GmbH, Continental AG, Magneti Marelli S.p.A., Delphi Automotive PLC, Softing AG, Voxx International Corporation, AVL List GmbH, Actia SA, Hickok incorporated, Vector Informatik India Pvt. Ltd., and Vector Informatik GmbH.
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The following regional segments are covered comprehensively:
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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?
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