Selbyville, Delaware, May 01, 2019 (GLOBE NEWSWIRE) --
The automotive diagnostic scan tools market is poised to rise from USD 33 billion in 2018 to over USD 49 billion by 2025, according to a 2019 Global Market Insights, Inc. report. The market growth is attributed to the increasing sales of passenger vehicles, transforming vehicles from hardware-driven machines to software-controlled electronic devices, electrification of vehicles, and an increasing number of service stations. In addition, the electrification of vehicles is encouraging manufacturers to increase in-vehicle electronic components and incorporate technological upgrades into vehicles to meet the government emission control standards.
The increasing population of in-vehicle electronic components is increasing the demand for professional diagnostic services frequently to maintain vehicles, helping the growth of the automotive diagnostic scan tools market. In contrary, the highly-priced diagnostic equipment and lack of skilled professionals may adversely affect the overall growth of the market. The increasing in-vehicle electronics is resulting in the complex architecture of automobiles, creating challenges for automotive manufacturers and professional diagnostic solution providers. Moreover, the demand for automotive diagnostic scan tools is expected to increase significantly over the forecast timeline owing to the growth of the overall aftermarket automotive industry.
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The diagnostic software market is projected to register an accelerated growth during the forecast timeline, growing at a CAGR of around 8%. The automotive diagnostic scan tools market growth is attributed to the increased integration of in-vehicle software across the automotive industry. In addition, the presence of technology giants, such as Bosch, Continental, Denso, and Snap on Incorporated, enhances the growth opportunity of the diagnostic software segment as these companies have expertise in providing professional automotive diagnostic software solutions that can help repair shops to diagnose efficiently, safely, and quickly.
The emission control is anticipated to exhibit a lucrative growth at a CAGR of over 9% in the automotive diagnostic scan tools market between 2019 and 2025. The growing global environmental concerns and stringent government regulations related to environmental safety require OEMs to build fuel-efficient engines with low-carbon emissions. Therefore, automotive manufacturers are deploying engine management systems to control fuel injection, fuel supply, ignition, and air management to improve fuel efficiency and emissions, encouraging the use of On-Board Diagnostics (OBD) in vehicles for tracking and controlling emissions.
The commercial vehicles segment shows a promising growth rate in the automotive diagnostic scan tools market during the forecast period. This segment is being influenced by the increasing number of commercial vehicles across the world. The increasing adoption of Mobility-as-a-Service (MaaS) is propelling the demand for commercial vehicles, increasing the diagnostic requirements.
The DIY diagnostic segment shows the highest growth rate during the forecast period. These diagnostic tools allow users to work independently by connecting vehicles’ diagnostics port to a smart device via Bluetooth. The users are expected to experience the desired comfort and flexibility with DIY diagnostic tools.
Browse key industry insights spread across 260 pages with 391 market data tables & 22 figures & charts from the report, “Concrete Surface Treatment Chemicals Market Size By Product (Curing Compounds, Mold Release Agent, Sealants), By End-user (Residential, Commercial, Industrial, Municipal), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-diagnostic-scan-tools-market
The Asia Pacific automotive diagnostic scan tools market is expected to register the highest growth, growing at a CAGR of around 8% between 2019 and 2025. This growth can be attributed to the presence of emerging countries (such as China and India), leading manufacturers, and significantly large consumption markets in the region. In addition, the infrastructural development and growing industrialization in the emerging economies are creating opportunities for automotive OEMs as well as professional automotive diagnostic solution providers.
Some of the key players operating in the automotive diagnostic scan tools market are Actia Group SA, Autel Intelligent Technology Corp., Ltd., AVL List GmbH, BMW AG, Bosch Automotive Service Solutions Inc., Continental AG, Daimler AG, Delphi Automotive PLC, Denso Corporation, DG Technologies, Fluke Corporation, General Technologies Corporation, Hickok Incorporated, Honda Motor Company, Ltd., KPIT Technologies, Launch Tech UK, Snap-on Incorporated, Softing AG, Volkswagen AG and Volvo Group.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.