Global Automotive Diagnostic Scan Tools Market to accrue $ 49 Bn by 2025

February 10, 2020


As per latest study report titled ‘Automotive Diagnostic Scan Tools Market Size By Offering (Diagnostic Hardware {Scanner, Code Reader, Tester, Analyzer}, Diagnostic Software {ECU Diagnosis Software, Vehicle Tracking, and Emissions Analysis Software, Vehicle System Testing Software}, Diagnostic Services {Vehicle Maintenance and Repair, Custom, Training, Support, and Integration}), By Application (Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert & Roadside Assistance, Repair and Maintenance, Emission control), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Tool Type (Professional Diagnostic, DIY Diagnostic, OEMs Diagnostic), Industry Analysis Report, Regional Outlook (U.S., Canada, Russia, France, Germany, Italy UK, Spain, China, Japan, India, Australia, South Korea, Malaysia, Brazil, Mexico, Argentina, Chile, Africa, UAE, Saudi Arabia, Qatar, Oman), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global automotive diagnostic scan tools market is projected to accumulate USD 49 billion by the year 2025.
 

Increasing focus on mitigating global carbon emission and rising environmental awareness are slated to drive automotive diagnostics scan tools market outlook. Measures taken by the government and automobile manufacturers to control carbon footprint has instigated the demand for autonomous vehicles across the globe. In the year 2017, the total sales of autonomous cars were recorded at 24.23 million units and is projected to achieve 61.82 million units by the end of 2024, increasing at a CAGR of 14.4% between 2018 to 2024. Rising adoption of autonomous vehicles, coupled with the need for constant repair and maintenance services to ensure vehicle health will propel the growth of automotive diagnostic scan tools market.
 

Surging demand for passenger vehicles across developed and developing nations is supporting the industry statistics and is expected to witness notable CAGR of more than 5% during the period of study. Improving purchasing power among people in countries such as India, Argentina, Brazil, and China is a pivotal factor supporting product penetration. Additionally, increasing urbanization in emerging nations, improving lifestyles, and constantly changing customer demands is propelling innovations and developments in passenger vehicles, thereby fueling the expansion of automotive diagnostic scan tools industry.
 

With an aim to adopt the latest technology such as VR and AR, OEMs and automobile manufacturers are extensively investing in R&D to introduce novel diagnostic scan mechanisms. For instance, Bosch automotive service solution launched BEA 750 in September 2016 that employs augmented reality with an aim to improve operational efficiency of service stations and workshops.
 

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With respect to the tool type, the market is bifurcated into OEMs diagnostic, professional diagnostic, and DIY diagnostic. Escalating passion of the vehicle owners to spend on improved automotive solutions and advanced technologies are supplementing the growth of DIY diagnostic tools segment. These tools are cost-effectiveness and offers operational efficiency. Vehicle manufacturers are constructing virtual interfaces with an aim to enhance the overall automotive diagnostic experience.   
 

The key players of automotive diagnostic scan tools market are Volvo Group, Volkswagen AG, Softing AG, Snap-on, Inc., Launch Tech UK, KPIT Technologies, Honda Motor Company, Ltd., Hickok, Inc., General Technologies Corp., and Fluke Corp. among others.


Frequently Asked Questions (FAQ) :

Rise in disposable income across the globe is propelling the sale of innovative vehicles, thereby fueling the demand for automotive diagnostic scan tools. Moreover, strict policies adopted by the government and internationally recognized institutions to control the level of carbon dioxide will foster market dynamics in the near future. Technological advancements such as AR, VR, and AI have led to the introduction of enhanced solutions like ADAS, ABS and cruise control which is boosting the total number of ECUs in cars. Automotive diagnostic tools are required in automobiles to detect faults in order to improve operational efficiency.
According to the study, Europe is expected to attain a significant share in automotive diagnostic scan tools market by 2025. Reportedly, in 2018, the region accounted for 34% of the total market share. Strict rules and policies established by the government regarding vehicle emission is complementing the industry landscape in the region. Additionally, high rate of affordability among people in Europe is steering the demand for advanced automobiles. The region hosts a wide presence of key market players like Renault, Audi AG, Volkswagen and Porsche. Proliferating demand for electric vehicles in the region owing to adequate knowledge regarding the need to control CO2 levels is positively influencing automotive diagnostic scan tools market share.
By 2025, repair and maintenance services segment is likely to cross USD 16 million in market value. Burgeoning sale of new and second-hand vehicles in developed and developing countries is driving the establishment of workshops and service stations. The preference to outsource diagnostic scan tools solutions and focus on the main business is boosting the demand for third-party repair and maintenance service providers.
Global automotive diagnostic scan tools market share is fairly consolidated with prominent players such as BMW AG, Daimler AG, AVL List GmbH, and General Technologies Corporation among various others. The industry leaders are aiming at developing new technologies with an aim to maximize their profits and sustain the market competition.