vehicle diagnostics market trends, vehicle diagnostics market demand, vehicle diagnostics market segmentation, vehicle diagnostics market size, vehicle diagnostics market share, vehicle diagnostics market insights
How much is the vehicle diagnostics market worth, and how is it expected to expand?
The vehicle diagnostics market size has grown rapidly in recent years. It will grow from $38.09 billion in 2024 to $44.26 billion in 2025 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to regulatory compliance, consumer demand for reliability, cost pressures on vehicle maintenance, globalization of automotive manufacturing, the rise of vehicle ownership, and fleet management.
The vehicle diagnostics market size is expected to see rapid growth in the next few years. It will grow to $79.77 billion in 2029 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to increasing vehicle complexity, focus on predictive analytics, the shift towards subscription-based services, the rise of mobility-as-a-service (MaaS), growing focus on sustainability. Major trends in the forecast period include increasing adoption of connected diagnostic solutions, expansion of predictive maintenance solutions, integration of advanced sensor technologies, shift towards software-based diagnostics, and emergence of augmented reality (AR) diagnostics.
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Which industry factors have accelerated the vehicle diagnostics market’s expansion?
The rise in vehicle leasing is expected to propel the growth of the vehicle diagnostics market going forward. Vehicle leasing refers to a contractual arrangement where a company or individual (the lessee) rents a vehicle from a leasing company or financial institution (the lessor) for a specified period, typically months to years. The rise in vehicle leasing is due to access to newer vehicles, reduced maintenance costs, flexibility, and tax benefits for businesses. Vehicle diagnostics is essential in vehicle leasing to ensure the maintenance and performance of leased vehicles, enabling lessors to monitor vehicle health, detect issues, and optimize fleet management for efficient and reliable operation throughout the leasing period. For instance, in September 2022, according to MotorFinanceOnline, powered by Verdict Media Limited, a UK-based online news and analysis platform, in the initial six months of 2022, 1 out of every 5 (20%) new leasing clients were looking to lease a pure battery electric vehicle (BEV), marking a surge of 1575% in BEV demand compared to previous years. Therefore, the rise in vehicle leasing is driving the growth of the vehicle diagnostics market.
What are the primary segments of the vehicle diagnostics market?
The vehicle diagnostics market covered in this report is segmented –
1) By Product Type: OBD2 Scanner, Multi-System Auto Diagnostic Tool, OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool, OBD2 Car Code Reader Or scan Tool, OBD2 Adapter Check Engine Diagnostic Tool, Smartphone Diagnostic Tool, Other Products
2) By Vehicle Type: Light-Duty Vehicle, Commercial Vehicle, Heavy Commercial Vehicle
3) By Equipment Type: Exhaust Gas Analyzer, Wheel Alignment Equipment, Headlight Tester, Paint Scan Equipment, Dynamometer
4) By Application: Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert, Roadside Assistance
Subsegments:
1) By OBD2 Scanner: Standard OBD2 Scanner, Advanced OBD2 Scanner
2) By Multi-System Auto Diagnostic Tool: OEM Multi-System Diagnostic Tool, After market Multi-System Diagnostic Tool
3) By OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool: Wireless OBDII Scanner with Bluetooth Connectivity, ECU Coding And Reprogramming OBDII Diagnostic Tools
4) By OBD2 Car Code Reader Or Scan Tool: Basic OBD2 Code Reader, Professional OBD2 Scan Tool
5) By OBD2 Adapter Check Engine Diagnostic Tool: OBD2 Bluetooth Adapter, OBD2 USB Adapter
6) By Smartphone Diagnostic Tool: Mobile App-Based Diagnostic Tools, Smartphone OBD2 Adapter Kits
7) By Other Products: Vehicle Battery Diagnostic Tools, TPMS Diagnostic Tools, Hybrid Or Electric Vehicle Diagnostic Tools, Automotive Performance Diagnostic Tools
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Which firms are leading the vehicle diagnostics market?
Major companies operating in the vehicle diagnostics market are DENSO Corporation, Continental AG, BorgWarner Inc., Snap-on Incorporated, ACTIA Group, AVL List GmbH, OnStar LLC, SPX Corporation, VOXX International Corporation, KPIT Technologies, Launch Tech Co. Ltd., Telemotive AG, Repairify Inc., ETAS GmbH, Magneti Marelli S.P.A., Softing AG, General Technologies Corporation, DSA Daten- und Systemtechnik GmbH, Autologic Diagnostics Ltd., Hickok Incorporated, AVL DiTEST GmbH, Vector Informatik GmbH, Vidiwave Limited, Autel Intelligent Technology Corp. Ltd., Robert Bosch GmbH
Which market trends are set to define the future of the vehicle diagnostics market?
Major companies operating in the vehicle diagnostics market are focused on developing vehicle battery diagnostic technology, such as MDX-AI, to gain a competitive edge in the market. MDX-AI is a battery diagnostic tool used to assess the health, performance, and condition of batteries employed in various tests and analyses. For instance, in July 2024, Midtronics Inc., a US-based battery management systems company, launched MDX-AI, a battery diagnostic technology for automotive service equipment. This innovative solution harnesses the power of artificial intelligence to provide accuracy and speed in assessing battery health and performance. Midtronics has developed MDX-AI, a battery diagnostic technology powered by artificial intelligence, to eliminate ‘Charge and Retest’ decisions, provide instant and accurate battery health assessments, and ensure reliable support for critical functions in electric vehicles. To address the challenges faced by service providers in accurately diagnosing battery issues. MDX-AI enables technicians to make precise decisions on battery health quickly, enhancing efficiency and productivity in vehicle maintenance. Additionally, MDX-AI offers advanced capabilities, such as accurate testing of electric vehicle 12V batteries, which are critical for ensuring the reliability of safety systems.
Which geographic trends are shaping the vehicle diagnostics market, and which region has the highest market share?
North America was the largest region in the vehicle diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vehicle diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Vehicle Diagnostics Market Report 2025 Offer?
The vehicle diagnostics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Vehicle diagnostics refers to the process of identifying, analyzing, and troubleshooting issues or problems within a vehicle’s systems, components, and subsystems to diagnose and troubleshoot issues in vehicles. This process enables mechanics, technicians, and automotive professionals to accurately diagnose and repair issues related to the engine, transmission, braking system, electrical system, emissions system, and other critical components of a vehicle.
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