USD 503.5 million
Automotive AI Repair Services Market Size, Share, Growth Analysis, By Service Type(Diagnosis, predictive maintenance, repairs, and others), By Technology(Machine learning, deep learning, natural language processing, and computer vision), By Deployment(Cloud-based, on-premise, and hybrid), By Vehicle Type(Passenger cars, commercial vehicles, and others), By End User(Independent repair shops, original equipment manufacturers (OEMs), and others.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25C2058 |
Region:
Global |
Published Date: July, 2024
Pages:
243
|Tables:
146
|Figures:
78
Automotive AI Repair Services Market Insights
Automotive AI Repair Services Market size was valued at USD 586.58 million in 2022 and is poised to grow from USD 683.3 million in 2023 to USD 2318.78 million by 2031, growing at a CAGR of 16.5% during the forecast period (2024-2031).
Vehicle complexity is increasing due to the addition of modern systems and components that call for specialist diagnostic and repair equipment. The complexity of these systems might make it hard for mechanics to accurately identify problems and carry out quick fixes. AI can be used in auto repair services to analyze complex systems, leading to faster and more precise repairs. By using AI to forecast when a vehicle component will fail, preventive maintenance may be done, reducing the likelihood of breakdowns. Reduced downtime and reduced maintenance costs are two main benefits of predictive maintenance.
AI is becoming increasingly prevalent in the automotive sector to increase speed, accuracy, and efficiency of car diagnosis and repair. Automotive AI Repair Services will likely see an increase in demand as a result of this trend. The adoption of electric vehicles is expanding quickly, and many governments throughout the world have set goals for the ultimate phase-out of vehicles powered by fossil fuels. This offers a chance for businesses that provide automotive AI repair services to develop specific AI tools and services for detecting and fixing EVs. Auto repair services may need to invest a significant initial investment in hardware, software, and instruction in order to use AI technology. Small and medium-sized repair businesses may find this to be a barrier to entry, that would limit the market's possibility of growing.
Providers of Automotive AI Repair Services may find new business opportunities as a result of the integration of AI with other cutting-edge technologies like the Internet of Things (IoT) and blockchain. For instance, the use of IoT sensors in cars can provide AI algorithms with immediate data, enabling more precise diagnosis and repair recommendations.
US Automotive AI Repair Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
cloud-based
Fastest Growth
cloud-based
Growth Rate
16.75% CAGR
Global Automotive AI Repair Services Market ($ Mn)
Country Share for North America Region (%)
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Automotive AI Repair Services Market Segmental Analysis
Global Automotive AI Repair Services Market is segmented based on Service Type, Technology, Deployment, Vehicle Type, End User and region. Based on Service Type the Automotive AI Repair Services Market is segmented into diagnosis, predictive maintenance, repairs, and others. Based on Technology the Automotive AI Repair Services Market is segmented into machine learning, deep learning, natural language processing, and computer vision. Based on Deployment The Automotive AI Repair Services Market is segmented into cloud-based, on-premise, and hybrid. Based on Vehicle Type the Automotive AI Repair Services Market is segmented into passenger cars, commercial vehicles, and others. Based on End-User the Automotive AI Repair Services Market is segmented into independent repair shops, original equipment manufacturers (OEMs), and others. Based on region the global Automotive AI Repair Services Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Automotive AI Repair Services Market Analysis by Technology
The global market is categorized into groups depending on technology, such machine learning, deep learning, natural language processing, and computer vision. In the year 2021, computer vision has a sizable market share in the technology industry. Some companies worldwide have started using image recognition as one of the artificial intelligence-based solutions that are expected to reshape their business in autonomous or semi-autonomous applications.
Automotive AI Repair Services Market Analysis by Service Type
AI-powered diagnostic tools are part of the diagnostics that can quickly identify and evaluate vehicle problems. These sensors can identify the problems with the engine, transmission, brakes, and other vital parts. The time and money needed for repairs are reduced due to the application of AI in diagnostics, which enables faster and more precise problem diagnosis. These gadgets can also give repair businesses useful information on the condition and operation of the vehicle, enabling them to make better suggestions for regular maintenance.
The AI-powered tools used for predictive maintenance can predict when repair is needed based on the information from sensors, vehicle usage data, and other sources. By proactively maintaining vehicles, repair facilities can lower the likelihood of failures and extend its useful lives. Repair shops can accurately forecast when repairs are needed by using AI in predictive maintenance, which lowers the risk of unneeded maintenance and reduces owner downtime.
Global Automotive AI Repair Services Market By Type
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Automotive AI Repair Services Market Regional Insights
By 2021, North America dominated the global Automotive AI Repair Services because of the broad adoption of AI-powered diagnostic tools, predictive maintenance systems, and other technologies. The well-established automobile industry in both regions and the intense competition in the repair services sector are driving the use of AI technology to improve efficiency and accuracy.
The Automotive AI Repair Services market, however, is anticipated to grow most quickly in the Asia Pacific region over the next several years. The automobile industry in the region is expanding quickly, and there is a growing need for repair services that are more effective and efficient. The fast-growing emphasis on smart mobility solutions and the demand for more sophisticated repair and maintenance services for connected cars and autonomous vehicles are both driving the use of AI and machine learning technology in the automotive sector in Asia Pacific.
Global Automotive AI Repair Services Market By Region
- Largest
- Fastest
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Automotive AI Repair Services Market Dynamics
Automotive AI Repair Services Market Drivers
Growing emphasis on environmental responsibility and sustainability
- Many consumers are becoming more concerned about the environment and seeking out eco-friendly repair and maintenance services. Repair shops that provide environmentally friendly services, such as EV repairs and recycling facilities for vehicle parts, draw clients that are environmentally conscious and gain a competitive edge.
Growing demand in connected and autonomous vehicles
- The demand for more advanced repair and maintenance services is being driven by the emergence of connected and autonomous automobiles. Due of the particular expertise and skills needed to repair and maintain these modern vehicles, repair shops have become recognized as experts. New AI-powered maintenance equipment and services that can support these trying to cut automobiles are being developed as a result of this.
More efficient and effective repair services are in greater demand
- There is an increasing demand for new repair services that are more effective and efficient as the number of vehicles on the road rises. Repair shops can discover problems more quickly and accurately with the use of AI-powered diagnostic equipment and preventative maintenance systems, leading in less time and better repairs.
Automotive AI Repair Services Market Restraints
High Costs
- The high costs related to implementing AI technology are one of the major barriers for the market. The initial investment needed to buy AI hardware and software, as well as the ongoing maintenance costs, can be rather high, which may prevent some businesses from using AI repair services.
Lack of Skilled Workforce
- Lack of educated AI and machine learning experts in the workforce is another significant barrier. As the market for automotive AI repair services grows, there will be a demand for trained professionals who can use these technologies efficiently. The existing lack of qualified technicians, however, can prevent some businesses from using AI repair services.
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Automotive AI Repair Services Market Competitive Landscape
The competitive environment of the market for automotive AI repair services is quickly changing as new players enter the space and current players expand their product offerings.
Automotive AI Repair Services Market Top Player’s Company Profiles
- Bosch
- Continental AG
- Denso Corporation
- Delphi Automotive
- Magneti Marelli
- WABCO Holdings Inc.
- ZF Friedrichshafen AG
- Aisin Seiki Co. Ltd.
- Tenneco Inc.
- Federal-Mogul Holdings LLC
- HELLA GmbH & Co. KGaA
- Hitachi Automotive Systems
- Lear Corporation
- Faurecia
- Valeo SA
- Hyundai Mobis Co., Ltd.
- Robert Bosch GmbH
- Akebono Brake Industry Co., Ltd.
- BorgWarner Inc.
- Dana Holding Corporation
Automotive AI Repair Services Market Recent Developments
- In November 2021, the top supplier of auto components, Hella, and MTS, a company that offers preventative maintenance solutions, announced their collaboration. The collaboration will allow Hella to use MTS's AI-powered platform to provide its clients with sophisticated predictive maintenance services.
- In October 2021, Microsoft announced the launch of their new Azure Percept platform, which enables auto repair shops to develop and use AI models in the cloud.
Automotive AI Repair Services Key Market Trends
- The market is driven by the growing adoption of preventative maintenance tools. Predictive maintenance is a technique that collects information from vehicles and employs AI and machine learning algorithms to forecast when maintenance or repairs will be required. This enables repair facilities to do preventive maintenance and repairs before to a failure, minimizing downtime and repair costs.
- As contrast to on-premise solutions, cloud-based solutions have more scalability, flexibility, and cost. The adoption rate of connected vehicles and IoT devices, which produce enormous amounts of data can be analyzed and processed in the cloud, is the factor that's driving this trend.
- The rising emphasis on customer experience is creating demand for automotive AI repair services. AI and machine learning are employed by many repair companies to offer tailored recommendations and improve the client experience. For instance, some repair shops use chatbots that are powered by AI to assist customers in real-time and answer their inquiries.
Automotive AI Repair Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Automotive AI Repair Services market analysis, AI is becoming increasingly prevalent in the automotive sector to increase speed, accuracy, and efficiency of car diagnosis and repair. These services will likely see an increase in demand as a result of this trend. The adoption of electric vehicles is expanding quickly, and many governments throughout the world have set goals for the ultimate phase-out of vehicles powered by fossil fuels. Providers of these services may find new business opportunities as a result of the integration of AI with other cutting-edge technologies like the Internet of Things (IoT) and blockchain. For instance, the use of IoT sensors in cars can provide AI algorithms with immediate data, enabling more precise diagnosis and repair recommendations.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 503.5 million |
| Market size value in 2031 | USD 2576.9 million |
| Growth Rate | 16.75% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive AI Repair Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive AI Repair Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive AI Repair Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive AI Repair Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive AI Repair Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive AI Repair Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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