DUBLIN--(BUSINESS WIRE)--The "Automotive Test Equipment Market by Vehicle Type, Product Type, Application, End Market & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global automotive test equipment market is estimated to grow from USD 2.2 billion in 2018 at a CAGR of 3.95% to reach USD 2.9 billion by 2025.
Increased advancements in the test equipment technology will boost the automotive test equipment market. However, maintaining a balance between high accuracy, performance, quality, and cost act as a hurdle for the growth of the automotive test equipment market.
Increasing adoption of mobiles in the automotive industry is expected to drive the mobile/tablet based equipment market.
Mobile/tablet based equipment market is the fastest and largest growing segment of the automotive test equipment market. Mobile technology in the testing process is trending in the automotive industry and is likely to shape the testing world of automakers. The mobile industry has seen exponential growth in the adoption of smart phones from the last few years. Increasing investments have been made by many companies for mobile/ tablet application development. This can create a huge opportunity for the growth of mobile/tablet based test equipment.
OEM R&D/technical center market for is projected to grow fastest during the forecast period.
Heavy investments by vehicle manufacturers in research and development for the automobile technologies is 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 the standards as per the regulations. This factor makes the R&D centers of vehicle manufacturers a major testing hub for the assessment of several automotive mechanisms and advanced technologies. Hence, OEM R&D/technical center market of the automotive test equipment market, by end market type, is projected to grow the fastest.
Market Dynamics
Drivers
- Increasing Electric Vehicle Production and Autonomous Vehicle Testing
- Increasing Electronic Architecture in Modern Vehicles
- Rise in Stringent Emissions Norms to Prevent Environmental Impact
- Technological Advancements in Automotive Test Equipment
Restraints
- High Cost of Advanced Technology Equipment
- Lack of Trained Workforce for Advanced Test Equipment
- Lack of R&D Facilities for Automotive Test Equipment
Opportunities
- Analyzing Real-Time Vehicle Data and Simulation Testing
- Increased Demand for High-Performance Vehicles
- Monetizing Vehicle Data
- Growing Demand for Onboard Diagnostic Tools
Challenges
- Maintaining A Balance Between High Cost & Performance of Test Equipment
Companies Mentioned
- ABB
- ACTIA
- AVL
- Ampro Testing Machines
- Autel
- Bosch
- Continental
- DSA Daten- und Systemtechnik
- Delphi Technologies
- Denso
- EM Test
- Fluke
- Honeywell
- Horiba
- Intertek
- Ipetronik
- MAHA Maschinenbau Haldenwang
- MTS
- Moog
- NSM Solutions
- PTM Electronics
- Racelogic
- Rohde-Schwarz
- SGS
- Siemens
- Sierra Instruments
- Sinfonia
- Softing
- TUV SUD
- Vector Informatik
For more information about this report visit https://www.researchandmarkets.com/research/j6gf33/automotive_test?w=4
