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September 2018

Automotive diagnostic technology, a 52.7 billion dollars industry by 2025

Editorial Staff

According to a forecast by Autopromotec’s Observatory, based on a Markets and Markets research, the industry can expect a record breaking 41% rise compared to the 37.4 billion dollars recorded in 2018
52.7 billion dollars! This is the turnover that the global automotive diagnostic technology market expects by 2025, a staggering 41% rise from the 37.4 billion dollars estimated in 2018, which translates into 15,3 billion dollars more for the entire industry. Most of the credit for this phenomenon goes to the wave of technological innovations that is profoundly renewing the automotive diagnostic sector, which is turning into a true protagonist of the global automotive scenario. The Asia-Pacific region is expected to record the highest growth over the 2018-2025 period with over 40% of total revenues, followed by North America +30% and Europe +25%, while the rest of the world will barely reach +5%. These forecasts stem from data processed by the Autopromotec Observatory based on a study carried out by the US research company Markets and Markets.

The market for automotive diagnostics technologies, according to the Markets and Markets survey, has experienced a significant grown in recent years and the trend is expected to continue for some time. IT development and connectivity boom are the driving force behind the evolution of increasingly sophisticated instruments able to interact with vehicle parts and components, so as to identify defects or malfunctions well ahead of time and ensure greater safety on board. Some of these tools are, for example, scanners and code readers for on-board electronic control units, exhaust gas analyzers and battery control units, digital tire pressure gauges, sensor detection devices, diagnostic equipment for suspensions, engines or other vehicle components. Additional factors in the success of these technologies, still according to the study, are the application of increasingly stringent road safety and emissions standards, as well as a significant increase in the global demand by car repair shops.

The advent of state-of-the-art vehicle diagnostics tools, emphasizes the Autopromotec Observatory, is radically changing - and will continue to do so - the current scenario, opening up new opportunities for the entire aftermarket sector. Through sophisticated and intelligent reading systems able to monitor vehicles from remote, car repairers will be able, for example, to monitor in real time the condition of any vehicle, advise the owner about timely maintenance and service before any malfunction might occur, improving business relations with customers as these will be able to obtain prompt service, a significant increase in quality and a healthy reduction in vehicle downtime. Keeping pace with technological developments, including connectivity and big data analysis must become a priority for car repairers to retain competitiveness in the market. The best and most advanced automotive diagnostic equipment, spare parts and auto repair products, will be showcased during the next edition of Autopromotec, to be held at the Bologna exhibition centre from May 22 to 26, 2019. An appointment not to be missed!

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