The Business Research Company’s Automotive Repair And Maintenance Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 8, 2022 /EINPresswire.com/ — Automotive repair and maintenance services companies are increasingly using artificial intelligence based automated vehicle inspection technology for vehicle inspection. Automated vehicle inspection systems capture pictures of the vehicle entering the cabin from multiple angles and uploads it to the central computing system which then compares it with standards to identify deviations. The system generates a report with an overview of all the issues flagged in the car and the required actions needed to be taken. For instance, Scope technology, a US based Tech Company, has developed an AI automated vehicle inspection technology in collaboration with Microsoft’s Azure cloud computation. ProovStation, a French automobile maintenance service provider, implemented these systems in their service centers in France and North America. They use the technology to conduct a 360o scan of the vehicle, identify the damages such as scratches, dents, dirt, suspension, frame, brakes and engine condition, and generate a report of the issues identified. The system generates a unique code and account for the vehicle with its chassis number for future service purposes. This entire visual inspection process is completed in less than 5 minutes and reduces costs by 50%.
According to the automotive repair and maintenance market research, service providers are increasingly installing diagnostic devices in customer vehicles to improve their service offerings. On-board diagnostics tools are being used to track vehicle condition and identify potential problems by running diagnosis. For instance, Koovers, a car maintenance services provider, fits an on-board diagnostics tool for its registered customers. Its call centre picks up the error reported by the tool and connects with the customer for required repair work. This enables garages to check for required parts for the car even before the car is brought in for service thus reducing wait time.
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The global automotive repair and maintenance market size is expected to grow from $750.84 billion in 2021 to $836.27 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive repair and maintenance market is expected to reach $1237.49 billion in 2026 at a CAGR of 10.3%.
Major players covered in the global automotive repair and maintenance industry are LKQ Corporation, LeasePlan Corporation N.V., ADNOC, Monro Muffler Brake, Asbury Automotive Group Inc., Nippon Express Co., Ltd., Lookers PLC, Halfords, ComfortDelGro Corporation and A2B Australia Ltd.
Western Europe was the largest region in the automotive repair and maintenance market in 2021. Asia Pacific was the second largest region in the automotive repair and maintenance market. The regions covered in the automotive repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
TBRC’s global automotive repair and maintenance market report is segmented by type into automotive mechanical and electrical repair and maintenance, automotive body, paint, interior, and glass repair, other automotive repair and maintenance, by vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles, bike and scooter, by service provider into automotive dealership, franchise general repair, specialty shop, locally owned repair shops/body shop, others.
Automotive Repair And Maintenance Global Market Report 2022 – By Type (Automotive Mechanical And Electrical Repair And Maintenance, Automotive Body, Paint, Interior, And Glass Repair, Other Automotive Repair And Maintenance), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike & Scooter), By Service Providers (Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops/Body Shop) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a automotive repair and maintenance market overview, forecast automotive repair and maintenance market size and automotive repair and maintenance market growth for the whole market, automotive repair and maintenance market segments, geographies, automotive repair and maintenance market trends, automotive repair and maintenance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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