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(I-AutoNewsWire.com, December 06, 2018 ) The Vehicle Diagnostics Market is estimated to be USD 13.91 Billion in 2016, and is projected to grow to USD 30.22 Billion by 2021, registering a CAGR of 16.79% from 2016 to 2021. The increasing demand for luxury passenger cars, growing need for emergency support, and increasing premium vehicle sales are key drivers of the vehicle diagnostics market. In this study, 2015 has been considered as the base year, 2016 as the estimated year, and 2021 as the forecast year.
The primary objective of the study is to define, describe, and forecast the vehicle diagnostics market on the basis of region, vehicle type, application, connectivity, and aftermarket. It also provides detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
The vehicle diagnostics market ecosystem consists of manufacturers such as Robert Bosch GmbH (Germany), Continental AG (Germany), OnStar LLC (U.S.), Mercedes-Benz (U.S.), Subaru of America, Inc. (U.S.), BMW (Germany), Magneti Marelli S.p.A (Italy), Delphi Automotive PLC (U.K.), Softing AG (Germany), Voxx International Corporation (U.S.), Snap-On Inc. (U.S.), and Vector Informatik GmbH (Germany).
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• vehicle diagnostics solution providers
• vehicle diagnostics solution software developers
• Distributors and suppliers of vehicle diagnostics solutions
• Independent and authorized dealers of vehicle diagnostics solutions
• Industry associations and experts
Bluetooth technology is estimated to hold the largest share in the vehicle diagnostics market, by connectivity. This trend is expected to continue during the forecast period. Bluetooth technology is primarily used to enable in-car connectivity between a vehicle’s dashboard and electronic gadgets such as smartphones, laptops, and tablets. Given the increasing demand from end-users to incorporate smartphone features such as navigation, diagnostics, and infotainment inside the vehicle, Bluetooth technology has become an essential feature in vehicles.
The North American region is estimated to be the largest market for vehicle diagnostics during the forecast period. This can be attributed to the 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. North America has some of the most stringent regulations for vehicle safety, emissions, and fuel economy in the world; this is expected to boost the market for vehicle diagnostics in the region.
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Mr. Shelly Singh