Vehicle Diagnostics System: Introduction
- Vehicle diagnostics system 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 that enables the vehicle with self-diagnostic and reporting capability. Vehicle diagnostics system is basically a part of auto service and is primarily utilized in vehicle service stations. The vehicle diagnostics system helps identify and assess issues associated with the vehicle, which 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.
Key Drivers of Global Vehicle Diagnostics System Market:
- Vehicle diagnostics refers to the process of detection of any faults in the automotive with the assistance of equipment/tools that are utilized in combination with software/system. This could be referred to as continuous vehicle monitoring system that offers information and reports any flaw in the vehicle system by using diagnostic tools installed in the vehicle. This is likely to boost the vehicle diagnostics system market across the globe.
- Rise in the demand and sale of luxury passenger cars among consumers across the globe is a major factor boosting the vehicle diagnostics market. Surge in awareness among consumers, vehicle manufacturers, and vehicle service providers about vehicle safety and security and the implementation of stringent emission and fuel economy regulations further propel the vehicle diagnostics market.
- Increase in demand for premium segment of passenger cars because of growing consumer preference for luxury cars equipped with advanced high-tech features and pressure from OEMs to improve vehicle performance and collect relevant data further fuel the vehicle diagnostics market across the globe
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Passenger Vehicle Segment to Offer Attractive Opportunities:
- The passenger vehicle segment is likely to hold a significant share of the market by end of forecast period. This is attributed to a rise in the demand for utility vehicles in highly populated countries such as China, India, and Brazil.
- High demand for e-class, crossovers, SUVs, and hatchbacks is driving the passenger vehicle segment, which in turn is likely to boost the vehicle diagnostics system market. Rise in preference for private transport and buying power of consumers is driving the passenger vehicle segment of the market.
Mechanical Issues to Hamper Global Vehicle Diagnostics System Market:
- 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 instance, 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.
Asia Pacific to Hold Significant Share of Global Vehicle Diagnostics System Market:
- Asia Pacific comprises rapidly expanding economies, including India and those in ASEAN, which is likely to witness higher demand for vehicles and consequently, boost the vehicle diagnostics system market during the forecast period
- Asia Pacific held a leading share of the global vehicle diagnostics system market due to higher volume of vehicles produced in prominent countries, including China and Japan, and lower manufacturing and labor cost across the region. Moreover, availability of inexpensive labor and raw material in the region coupled with an increase in number of local manufacturers is likely to propel the market in Asia Pacific during the forecast period.
