Increasing usage of social media platforms due to rising penetration of internet and rising incidents of security breaches is driving US Automotive Diagnostics Market revenue growth
Market Size – USD 17.70 Billion in 2020, Market Growth – at a CAGR of 21.3%, Market Trends – High demand from BFSI sector
The US Automotive Diagnostics Market is expected to reach USD 14.48 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the need for reduced recalls and warranty repairs by highlighting specific issues, offering OEMs a direct line of communication with the customer and rise in the use of electronics in vehicles due to digitalization and connected mobility across the automotive industry. Automotive diagnostics in US refers to a vehicle's reporting and self-diagnostic capability, which gives access to the vehicle owner or repair technician regarding the status of the various vehicle subsystems.
US is the hub for a number of manufacturers of the technology and aim for better infrastructure. The region has no budget constraints due to its high income, favorable government policies and regulations for an effective transportation system.
Cloud-based systems will play a key role in the development of these systems, as data is transmitted and analyzed in real-time in the cloud.
Key participants include General Motors, BMW, Daimler, Honda, Audi, Toyota, Volvo, Ford Motor Company, Nissan, and Fiat Chrysler Automobiles, among others.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The US Automotive Diagnostics Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the US Automotive Diagnostics Market.
Further key findings from the report suggest
• By vehicle type, the market is segmented into commercial and passenger vehicles. The passenger vehicle type is going to have the highest growth of 5.4% during the forecast period.
• By equipment type, the market is segmented into exhaust gas analyzer, paint scan equipment, wheel alignment equipment, dynamometer and headlight tester.
• The growth of the exhaust gas analyzer segment can be due to the increasing implementation of stringent emission regulations and policies in North America.
• By propulsion type, the market is segmented into electric vehicle (EV) and internal combustion engine (ICE) Vehicle.
• The growth of electric vehicles is expected to witness the highest growth of 5.7% during the forecast period, due to the adoption of the technology by many vehicle manufacturers.
• By product type, the market is segmented into OBD2 Scanner, Multi-System Auto Diagnostic Tool, OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool, OBD2 Car Code Reader /Scan Tool, OBD2 Adapter Check Engine Diagnostic Tool, Smartphone Diagnostic Tool and Others.
• The automotive diagnostic OBD2 Car Code Reader /Scan Tool is the dominant segment of the market in 2020; with a forecasted CAGR of 3.6% during the forecast period.
• By communication system, the market is segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Network (V2N), Vehicle-to-Infrastructure (V2I), Vehicle-to-Grid (V2G), Vehicle-to-Device (V2D), Vehicle-to-Cloud (V2C), Vehicle-to-Pedestrian (V2P) and Vehicle-to-Home (V2H).
• Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications, two wireless technologies, to witness the highest CAGR of 4.8%.
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For the purpose of this report, Reports and Data has segmented the US Automotive Diagnostics Market based on component, organization size, security, deployment, vertical and region:
Component Outlook (Revenue, USD Billion; 2018–2030)
2. Assessment and Response
3. Tabletop Exercises
4. Incident Response Planning and development
5. Advanced Threat Hunting
Organization Size Outlook (Revenue, USD Billion; 2018–2030)
• Small and Medium-Sized Enterprises
• Large Enterprises
Security Outlook (Revenue, USD Billion; 2018–2030)
• Web Security
• Application Security
• Endpoint Security
• Network Security
• Cloud Security
Deployment Outlook (Revenue, USD Billion; 2018–2030)
Vertical Outlook (Revenue, USD Billion; 2018–2030)
• Healthcare and Life Sciences
• Retail and e-commerce
• Travel and Hospitality
• IT and Communication
Regional Outlook (Revenue, USD Billion; 2018–2030)
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of APAC
• Latin America
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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Key Advantages of Production monitoring Market:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the US Automotive Diagnostics Market
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of US Automotive Diagnostics Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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