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(Transportation-News.com, October 22, 2019 ) Market Overview:
The increase in demand for safety concerns is anticipated to boost the demand for global vehicle diagnostics market. The factors such as an increase in consumer awareness of vehicle safety features, growth in the automobile sector and competition among OEMs aids in the overall growth of the market. The market is also influenced by the rise in the number of fatal road accidents and the implementation of stringent safety regulations by the government to prevent the rise in road accidents.
Vehicle Diagnostics is the process of collecting, diagnosing and managing data of a system and to assess car performance and notify if any problem arises. The increase in the need for luxury and comfort features in vehicles is boosting the demand for Vehicle Diagnostics Market.
Market Dynamics:
The Vehicle Diagnostics market growth is primarily driven by rise in production vehicles in developing countries coupled with increasing awareness among consumers, vehicle manufacturers, as well as vehicle service providers regarding vehicle safety and security. Therefore, boosting growth in Vehicle Diagnostics Market.
In addition, rising demand for premium segment of passenger cars owing to the increasing consumer preference for luxury cars equipped with advanced high-tech features is anticipated to fuel the vehicle diagnostics system market during the forecast period.
Market Segmentation:
Based on connectivity, the Vehicle Diagnostics Market can be classified into Wi-Fi, Bluetooth, 3G, and 4G. It is observed that OEMs are integrating built-in Wi-Fi in the vehicles. Wi-Fi-based connectivity and Bluetooth based connectivity is expected to dominate the market. The key application of Bluetooth connectivity technology in remote vehicle diagnostics is connecting the vehicle to the internet via the cellular phone to transfer and receive data from the server. 3G connectivity technology is estimated to be the second largest segment of the remote vehicle diagnostics market.
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Geographical Analysis:
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
In 2018, North America accounted for the largest market share. However, APAC is expected to witness a higher CAGR than other regions during the forecast period. North America is a matured market in terms of cloud adoption, due to various factors, such as standards, regulations, advanced IT infrastructure, the presence of a large number of enterprises, and the availability of proficient technical expertise. Therefore, North America is expected to grow at a steady and maintain its dominant position in the global market over the forecast period.
APAC SaaS market is expected to grow exponentially over the forecast period due to an increased demand for cloud computing among small and medium-sized enterprises (SMEs). Countries like Singapore, which has seen ICT infrastructure as a key enabler in boosting the overall competitiveness in the region, based on creating new industries and new businesses, thereby encouraging economic growth.
Competitive Analysis:
Some major players in the market are Hexcel Corporation, Robert Bosch GmbH, Continental AG, OnStar LLC, Magneti Marelli S.p.A, Delphi Automotive PLC, Softing AG, Voxx International Corporation, Snap-On Inc., Vector Informatik GmbH, and among others.
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Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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