The report titled “Automotive Test Equipment Market” sheds a concentrated focus on the Automotive Test Equipment industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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The Global Automotive Test Equipment market size is estimated to grow from USD 3.0 Billion in 2020 at a CAGR of 4.1% to reach USD 3.7 Billion by 2025.
Top Companies Profiled in the Automotive Test Equipment Market:
- ABB (Switzerland)
- Bosch (Germany)
- Horiba (Japan)
- Honeywell (US)
- Delphi (UK)
- Siemens (Germany)
“Improved performance of the PC/laptop equipment, in terms of processing power and storage, is expected to drive the PC/laptop-based equipment market.”
PC/Laptop based testing equipment is primarily a hardware and software bundle, covering all the necessary cables, hardware, and software. These PC-based systems are boasted with an extremely rich feature-set, such as the capability to plot and log sensor data, calculate fuel efficiency, estimate horsepower, and torque.
Main highlights of this segment:
- Large, easy-to-read display; capable of displaying graphs, fuel maps, and digital gauges in full color.
- Unlimited processing power: For calculating and graphing real-time parameters on-the-fly, without any lag.
- Gigabytes of storage: Worth of data recording capability.
- A wide selection of diagnostic software that can be easily updated
“OEM R&D/technical center market is projected to grow fastest during the forecast period.”
Heavy investments by vehicle manufacturers in research and development for the automobile technologies are contributing to the growth of the test equipment market. To offer high-quality products and features in the vehicles, the automakers make various automotive components that undergo testing processes to comply with the standards as per the regulations.
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Breakdown of primary participants’ profile:
- By Company Type: OEM – 45%Tier I – 30%, Tier II – 15%, and Tier III – 10%,
- By Designation: C Level Executives – 35%, Directors – 25%, and Others – 40%
By Region: North America – 30%, Europe – 20%, Asia Pacific – 35%, Rest of the World- 15%