The vehicle diagnostic analytics market is projected to reach $4,425.6 million by 2031 from $1,827.4 million in 2021, growing at a CAGR of 9.22% during the forecast period 2022-2031.

The growth in the vehicle diagnostic analytics market is expected to be driven by the growing demand for vehicle diagnostic analytics in fleet management, rapid adoption of connected, autonomous, shared, and electric (CASE) strategies by original equipment manufacturers (OEMs) in the automotive industry, increasing focus on predictive maintenance for cost-savings and enhanced safety, and growing application of vehicle diagnostic by OEMs/automotive dealers in warranty analytics.

Market Lifecycle Stage

Globally, connected vehicles are moving the automotive industry into a new era. Vehicles are being deployed with extensive sensor platforms that generate vast amounts of data from different systems, such as telematics control units and on-board diagnostic (OBD) interfaces. At the same time, the advent of 5G and high bandwidth V2X technology have led to enhanced connectivity levels in the connected vehicles, providing the much-needed boost to the growth of the vehicle diagnostic analytics market.

The vehicle diagnostic analytics market is in the growth phase. The implementation of automotive diagnostics solutions is increasing in connected vehicles, internal combustion engine (ICE), as well as electric vehicles (EVs). As a result, the market is expected to flourish during the forecast period.

Impact

The vehicle diagnostic analytics market is driven by several factors, such as growing demand for vehicle diagnostic analytics in fleet management, rapid adoption of connected, autonomous, shared, and electric (CASE) strategies by OEMs in the automotive industry, increasing focus on predictive maintenance for cost-savings and enhanced safety, and growing application of vehicle diagnostic analytics by OEMs/automotive dealers in warranty analytics.

Vehicle diagnostic solution providers are working toward the development of advanced vehicle diagnostic analytics solutions to address the growing consumer needs of transforming the automotive industry. With automotive OEMs developing the next generation of connected and autonomous vehicles, the demand for such solutions is likely to increase multi-fold over the coming years.

Market Segmentation:

Segmentation 1: by Application Type

• Predictive Maintenance
• Warranty Analytics
• Residual Value Estimation
• Vehicle Safety and Security Management

The predictive maintenance segment is expected to dominate the vehicle diagnostics analytics market during the forecast period 2022-2031, owing to the benefits, such as cost savings and enhanced vehicle safety levels, and predictive maintenance solutions.

Segmentation 2: by Vehicle Propulsion Type

• Internal Combustion Engine (ICE) Vehicles
• Electric Vehicles (EVs)

Based on vehicle propulsion type, the internal combustion engine (ICE) vehicles segment currently dominates the market; however, the electric vehicles (EVs) segment is likely to dominate the market toward the end of the forecast period.

Segmentation 3: by Vehicle Type

• Passenger Vehicles
• Commercial Vehicles

Based on vehicle type, the commercial vehicles segment is likely to continue dominating the market during the forecast period.

Segmentation 4: by Diagnostic Solution Type

• Onboard Diagnostics
• Remote Diagnostics

The onboard diagnostics segment is expected to dominate the vehicle diagnostic analytics market during the forecast period, owing to the lack of infrastructure needed for remote diagnostics.

Segmentation 5: by End User

• Fleet Owners
• Automotive Dealers and Service Providers
• OEMs
• Insurance Companies

The vehicle diagnostic analytics market is slightly more dominated by the fleet owners segment, owing to the growing popularity of automotive diagnostics solutions among fleet owners for the cost-savings related to their fleet vehicles.

Segmentation 6: by Deployment Model

• On-Premises
• On-Demand

The on-premises segment is expected to continue dominating the vehicle diagnostic analytics market during the forecast period.

Segmentation 7: by Region

• North America
• Europe
• U.K.
• China
• Asia-Pacific and Japan
• Rest-of-the-World

North America generated the highest revenue of $584.8 million in 2021, which is attributed to the increased sales of connected vehicles in the North America region. The vehicle diagnostic analytics market is attractive in North America due to the growing adoption of vehicle diagnostic analytics solutions by automotive OEMs and vehicle fleet owners. However, Europe is expected to overtake North America toward the end of the forecast period while growing at the highest rate as compared to other regions.

Recent Developments in the Vehicle Diagnostic Analytics Market

• In February 2022, OCTO Telematics announced a new agreement in its partnership with Ford Motor Company to extend its data streaming into Europe. By leveraging Ford’s connected vehicle data, OCTO would enhance its market-proven telematics services in insurance and analytical services in the U.K., Italy, Germany, France, and Spain.
• In January 2022, Continental came up with a new 4G dongle, thereby boosting the performance of its remote vehicle data platform for vehicle data of numerous makes and models.
• In February 2021, Harman International acquired all the assets of Savari, Inc. for developing vehicle-to-everything communications technology in 5G edge and automotive devices.
• In August 2020, Teletrac Navman US Ltd. announced the next-generation solution, TN360, powered by artificial intelligence that delivers telematics functionality, providing fleet management with smart, predictive, and actionable insights.
• In September 2019, Bosch enhanced its vehicle diagnostic analysis for FSA 720 and FSA 740 and adapted it to the use of 48-volt on-board systems in passenger cars.

Demand – Drivers and Limitations

Following are the demand drivers for the vehicle diagnostic analytics market:

• Growing Demand for Vehicle Diagnostic Analytics in Fleet Management
• Rapid Adoption of Connected, Autonomous, Shared, and Electric (CASE) Strategies by OEMs in the Automotive Industry
• Increasing Focus on Predictive Maintenance for Cost-Savings and Enhanced Safety
• Growing Application of vehicle diagnostics by OEMs/Automotive Dealers in Warranty Analytics

Following are the limitations for the vehicle diagnostic analytics market:

• Data Security
• Network Coverage Limitations
• Challenges Associated with Integration and Upgradation of Analytics Software with Existing Diagnostic Solutions

How can this report add value to an organization?

Product/Innovation Strategy: The increasing demand for internet of things (IoT)-based predictive maintenance solutions for connected vehicles is one of the primary factors boosting the growth of the vehicle diagnostic market. To serve the vehicle diagnostic analytics solution needs of the end users in the growing connected vehicle industry, companies are working on the development of innovative vehicle diagnostic analytics solutions based on advancements in IoT technology and artificial intelligence/machine learning (AI/ML)-based analytics techniques.

Growth/Marketing Strategy: The vehicle diagnostic analytics market is growing at a significant pace and holds enormous opportunities for market players. Some of the strategies covered in this segment are product launches, partnerships, collaborations, business expansions, and investments. The companies’ preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the global vehicle diagnostic analytics market.

Competitive Strategy: The key players in the automotive diagnostics market analyzed and profiled in the study include vehicle diagnostic solution providers that develop/co-develop and market vehicle diagnostic solutions. Moreover, a detailed competitive benchmarking of the players operating in the vehicle diagnostic analytics market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The top three market players who are leading the vehicle diagnostic analytics market include Bosch Mobility Solutions (Bosch Group), Continental Mobility Services (Continental AG), and Harman International. These players capture around 60% of the market share, whereas the remaining players in the market capture around 40% of the market share.

Some of the prominent names established in this market are:

• Bosch Mobility Solutions
• Continental Mobility Services
• Harman International
• Microsoft
• Teletrac Navman US Ltd
• SAP
• WEX Inc.
• IBM
• Kinetica DB Inc.
• Silver Power Systems
• OCTO Group S.p.A
• KPIT Technologies Limited
• Tata Consultancy Services Limited
• Noregon
• Akkurate Oy
• AutoDAP B.V.
• Sibros Technologies Inc.
• Mojio
• Poseidon Systems, LLC

Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).

The post Vehicle Diagnostic Analytics Market – A Global and Regional Analysis: Focus on Vehicle Diagnostic Analytics, Product, Application, Value Chain, and Country Analysis – Analysis and Forecast, 2022-2031 first appeared on CRI Report.

Market Segmentation

• Offering – Product and Service
• Sample – Blood and Non-Blood
• Technology – Sequencing, Polymerase Chain Reaction (PCR), Microarray, and Other Technologies
• Application – Cardiomyopathy, Arrhythmia, Aortopathy and Vascular Diseases, Familial Hypercholesterolemia (FH), Congenital Heart Defects and Syndromes, and Other Applications
• End User – Hospitals and Diagnostic Laboratories, Academic and Research Institutes, and Other End Users

Regional Segmentation

• North America – U.S., and Canada
• Europe – Germany, France, U.K., Italy, Spain, Switzerland, and Rest-of-Europe
• Asia-Pacific – China, India, Japan, South Korea, Australia, and Rest-of-Asia-Pacific
• Latin America – Brazil, Mexico, and Rest-of-Latin America
• Rest-of-the-World

Market Growth Drivers

• Rising Burden of Cardiovascular Diseases
• Increasing Focus on Early Cardiovascular Disease (CVD) Screening
• Decreasing Cost of Sequencing

Market Challenges

• Lack of Established Regulatory Policies in the Precision Cardiology Ecosystem
• Lack of High Complexity Testing Centers
• Existing Diagnostic Confidence on Conventional Cardiovascular Disease (CVD) Tests

Market Opportunities

• Massive Scope for Adoption of NGS-Based Cardiology Tests in Emerging Markets

Key Companies Profiled

ARUP Laboratories, CENTOGENE N.V., Eurofins Scientific, Exact Sciences Corporation, Fulgent Genetics, Inc., Illumina, Inc., Invitae Corporation, Konica Minolta, Inc., Laboratory Corporation of America Holdings, OPKO Health, Inc., OraSure Technologies, Inc., PerkinElmer Inc., Quest Diagnostics Incorporated, Sema4 OpCo, Inc., Thermo Fisher Scientific Inc., GENinCode, Devyser Diagnostics AB

Key Questions Answered in this Report:

• How is precision cardiology revolutionizing the field of cardiovascular care?
• What are the major market drivers, challenges, and opportunities in the global precision cardiology market?
• What are the underlying structures resulting in the emerging trends within the global precision cardiology market?
• How did the COVID-19 pandemic impact the global precision cardiology ecosystem?
• What are the key development strategies that are being implemented by the major players in order to sustain themselves in the competitive market?
• What are the key regulatory implications in developed and developing regions pertaining to the use of precision cardiology products and services?
• What are the potential entry barriers, which are expected to be faced by the companies willing to enter a particular region?
• How is each segment of the market expected to grow during the forecast period 2021-2031, and what is the anticipated revenue to be generated by each of the segments? Following are the segments:
o Offering (product and service)
o Sample (blood and non-blood)
o Technology (sequencing, polymerase chain reaction, microarray, and other technologies)
o Application (cardiomyopathy, arrhythmia, aortopathy and vascular diseases, familial hypercholesterolemia, congenital heart defects and syndromes, and other applications)
o End user (hospitals and diagnostic laboratories, academic and research institutes, and other end users)
o Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
• What are the growth opportunities for the companies in the region of their operation?
• Who are the leading players with significant offerings in the global precision cardiology market?
• Which companies are anticipated to be highly disruptive in the future, and why?

Market Overview

Our healthcare experts have found the precision cardiology industry to be one of the most rapidly evolving and dynamic markets and the global market for precision cardiology is predicted to grow at a CAGR of 12.90% over the forecast period of 2021-2031. The market is driven by certain factors, which includes the rising burden of cardiovascular diseases, increasing focus on early cardiovascular disease screening, and decreasing cost of sequencing.

Currently, the precision cardiology industry is witnessing an upsurge due to the rising burden of cardiovascular diseases, increasing focus on early cardiovascular disease screening, and decreasing cost of sequencing.

Furthermore, companies are focusing on the development of precision cardiology tests based on advanced sequencing technologies, which is expected to further support physicians to offer better informed clinical decisions in the field of cardiovascular care.

The development of advanced precision cardiology tests also enables the research community to establish effective strategies for the discovery of novel genetic biomarkers associated with cardiovascular diseases, which could be harnessed to develop novel therapies.

Within the research report, the market is segmented on the basis of service, sample, technology, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The exponential rise in the incidence associated with cardiovascular diseases, worldwide has created a buzz among the biotechnology companies to further invest in the development of precision cardiology tests based on sequencing technologies for supporting physicians to offer precision care in the field of cardiology.

Due to the expansive service portfolio and massive geographical presence, Laboratory Corporation of America Holdings has been the leading player in the precision cardiology ecosystem.

On the basis of region, North America holds the largest share of the precision cardiology market due to the presence of market leaders such as Laboratory Corporation of America Holdings, Illumina, Inc., PerkinElmer Inc., Thermo Fisher Scientific Inc., and Quest Diagnostics Incorporated in the U.S. coupled with the significant adoption of high-fidelity precision cardiology tests for diagnosing cardiovascular diseases.

Further, rising fund infusions by the federal organizations coupled with increasing investments for precision cardiology test development, are some of the prominent underlying factors supporting the growth of the North America precision cardiology market. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period, 2021-2031.

This is majorly attributed to the underlying factors such as the rising incidence of cardiovascular diseases, increase in healthcare awareness, steady economy leading to higher focus on research, and growing adoption of precision cardiology tests, among others.

Related Reports: Global Interventional Cardiology Devices Market (2018-2023)

The post Precision Cardiology Market – A Global and Regional Analysis: Focus on Offering, Sample, Technology, Application, End User, and Region – Analysis and Forecast, 2021-2031 first appeared on CRI Report.

Market Segmentation

• Product – Generators, Electrodes, Applicators, Probes, Cannulas, Needles, Others (Pumps, Pads, Clamps, Forceps, Wires, Sheaths, Footswitches)
• Application – Pain Management, Aesthetics, Oncology, Cardiology, Others (ENT, Gynecology, Urology, General Surgery)
• End User – Hospital, Ambulatory Surgical Centers, and Specialty Clinics, Others (Rehabilitation Centers, Nursing Homes, and Research and Academic Institutions)

Regional Segmentation

• North America – U.S., Canada
• Europe – Germany, France, Italy, U.K., Spain, Netherlands, Switzerland, Rest-of-Europe
• Asia-Pacific – Japan, China, India, South Korea, Australia and New Zealand, Singapore, Rest-of-Asia-Pacific
• Latin America – Brazil, Mexico, Rest-of-Latin America
• Rest-of-the-World

Growth Drivers

• Rising Incidence of Chronic Diseases
• Increase in Geriatric Population
• Advantages Over Traditional Ablation and Aesthetic Treatment Methods
• Increasing Awareness Toward Aesthetic Treatments
• Technological Advancement in the Radiofrequency-Based Devices

Market Challenges

• High Cost Associated with Radiofrequency-Based Treatments
• Lack of Skilled Healthcare Professionals
• Restrictive Reimbursement Landscape

Market Opportunities

• Development of Low-Cost Radiofrequency-Based Systems
• Better Healthcare Infrastructure and Increase in Awareness Toward Radiofrequency-Based Devices in Developing Nations

Key Radiofrequency-Based Companies Profiled

Abbott Laboratories, AngioDynamics, Inc., ALMA Lasers (Sisram Medical Ltd), ArtiCure, Inc., Avanos Medical, Inc., Boston Scientific Corporation, CONMED Corporation, Cutera, Inc., Medtronic plc, Merit Medical Systems, Inc., Smith & Nephew, Stryker Corporation, Venus Concept, Inc., Bramsys Indústria e Comércio Ltda, BVM Medical Limited, Diros Technology Inc.

Key Questions Answered in this Report:

• What are the key regulations abiding the development, commercialization, and clinical use of radiofrequency-based devices, across different regions?
• What are the key technological developments on which the current industry leaders are spending their major share of research and development (R&D) investment?
• Who are the leading players holding significant dominance on the global radiofrequency-based devices market, currently?
• What are the key strategies incorporated by the players of the global radiofrequency-based devices market, to sustain the competition and retain their supremacy?
• What is the current annual demand for radiofrequency-based devices across different regions and what is their growth potential in the forecast period?
• What is the current market potential of radiofrequency technology, and what are the factors deciding the growth potential of radiofrequency technology in the forecast period?
• What is the current revenue contribution of different product types in the radiofrequency-based devices market, and how would it evolve in the forecast period?
• What is the current revenue contribution of different applications in the radiofrequency-based devices market, and how would it evolve in the forecast period?
• Is the overall radiofrequency-based devices market expected to grow or contract in the future? Why?
• What are the similar technologies available in the market? How do the alternative technologies compare and impact global radiofrequency-based devices market?
• What are the major technological investments happening in the radiofrequency-based devices market by the key players?
• Which is the pricing analysis of the radiofrequency-based products and procedures?
• Which radiofrequency-based devices applications segment is growing and contracting, respectively? Why?
• What is the current and future market scenario of the global radiofrequency-based devices market?
• What are the different entities in the supply chain analyses for the radiofrequency-based devices market?

Market Overview

Reducing the impact of surgical interventions on patients has been the direction of evolution for surgery in the last few decades. Acknowledging the benefits, such as low blood loss, low post-operative recovery time, the lower possibility for post-operative infections and complications, and above all, lower chance of requirement of a revision procedure, minimally invasive surgical technologies have been witnessing impressive growth in demand across the globe.

The growing demand for MIS procedures has consequentially resulted in massive demand for image-guided ablation treatments. One of the predominant image-guided treatments employed in minimally invasive surgical procedures radiofrequency ablation (RFA). RFA has emerged as the most commonly used technology for thermal ablation in bone, kidney, liver, lung, heart, breast, lymph nodes, nerves, and soft tissues, among others.

Radiofrequency-based devices are also used in aesthetic treatments, such as skin tightening, wrinkle reduction, skin, and neck laxity, and body contouring, among others in a non-invasive manner.

Healthcare experts at BIS Research have found radiofrequency to be one of the most rapidly evolving technologies, and the global market for radiofrequency-based devices is predicted to grow at a CAGR of 12.81% over the forecast period of 2021-2030. The market is driven by certain factors, which include the rising incidence of chronic disorders, elevating geriatric population, rising demand for minimally invasive surgical procedures, the increasing amount of healthcare spending in developing economies, and technological advancements in the field of ablation and aesthetic treatments.

There is a significant opportunity for the growth of the global radiofrequency-based devices market during the next ten years. The rise in the geriatric population across the globe, as well as the rise in prevalence of chronic diseases, are driving the growth of RF-based devices for pain management, oncology, and cardiology applications. The adoption of advanced technologies, such as the use of multipolar radiofrequency devices, is also expected to drive patient acceptance for sophisticated ablative and non-ablative procedures.

Additional modalities, such as fractional RF, sublative RF, phase-controlled RF, and combination RF therapies that apply light, massage, or pulsed electromagnetic fields (PEMFs), are contributing to the rapid adoption of radiofrequency in aesthetic treatments.

Within the research report, the market is segmented on the basis of product type, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The key players have predominantly been involved in M&A activities, launched new products, and ventured into synergistic partnerships aimed at either co-developing new technologies or strengthening consumer reach by combining marketing efforts of both the companies.

Companies such as Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson, Becton Dickinson and Company, Smith & Medical, Avanos Medical, YA MAN LTD., Cynosure, Medtronic plc, Venus Concept Inc, and Abbott Laboratories are expected to maintain their market dominance during the forecast period.

On the basis of region, North America holds the largest share of installed base and units sold due to improved healthcare infrastructure, rise in per capita income, and improvised reimbursement policies in the region. Apart from this, Asia-Pacific and Latin America regions are anticipated to grow at the fastest CAGR during the forecast period.

The post Global Radiofrequency-Based Devices Market: Analysis and Forecast, 2021-2030 first appeared on CRI Report.