iCrowdNewswire Oct 30, 202010:42 AM ET
The global automotive repair software market generated a revenue of $1,264.2 million in 2019, and it is projected to progress at a 10.3% CAGR during the forecast period (2020–2030), as per a P&S Intelligence report. The market is registering growth due to the rising number of vehicles on the roads and their increased life span. Moreover, the fact that the automotive repair software saves time and enhances communication is projected to result in its high demand during the forecast period.
On the basis of offering, the market is divided into maintenance, services, and repair, among which, the repair division is predicted to dominate the market till 2030. The surging adoption of this software for automobile diagnostics and repair is driving the division’s growth. These solutions provide insights from professional technicians, colored diagram of the wiring for easy understanding, and repair information that is provided by automaker. The service division is projected to demonstrate the highest CAGR during the forecast period.
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When deployment is taken into consideration, the automotive repair software market is bifurcated into cloud and on-premises, between which, the on-premises category held the major share of the market during the historical period (2014–2019). Most auto repair organizations opt for low-cost solutions due to low budget. The cloud category is predicted to register the highest CAGR during the forecast period, as these solutions facilitate better communication between customers and repair shop staff.
This market research report provides a comprehensive overview of the automotive repair software market
- Historical and the present size of the automotive repair software market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
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North America has been the largest automotive repair software market during the historical period, owing to the increasing average age of vehicles in the region. Regular repairs and servicing is necessary for vehicles to survive for a long time, which has led to the high adoption of automotive repair software. The Asia-Pacific region is predicted to demonstrate the highest CAGR during the forecast period, due to the high number of operational vehicles, rising spending on innovative technology, and rising disposable income of people in the region.
The research includes detailed analysis of;
Based on Offering
Based on Deployment
Based on Operating Device
- Computer Systems
- Mobile Phones
Based on Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Based on End Use
- Automotive Repair Workshop
- Automotive Dealer
- Auto Part Wholesaler
- Manufacturer/Original Equipment Manufacturer (OEM) Retail Store
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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