Portland, OR, March 06, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global vehicle scanner market generated $3.3 billion in 2021, and is estimated to reach $5.8 billion by 2031, witnessing a CAGR of 6.0% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.3 billion |
| Market Size in 2031 | $5.8 billion |
| CAGR | 6.0% |
| No. of Pages in Report | 280 |
| Segments Covered | Scanner type, Structure type, Application, Component, and Region |
| Drivers | Global expansion of toll roads |
| Increased production of cars | |
| Rising demand for electric vehicles globally | |
| Technological advancements in the automotive sector | |
| Government support and initiatives for the development of intelligent transportation system | |
| Strict international security and safety regulations | |
| Opportunities | Rising need for full vehicle body scanning |
| Increasing facilities for car diagnostics tools to stop activities such as border breaking and entering and human trafficking, | |
| Growing accessibility of advanced security solutions | |
| Restraints | Rising system cost and saturated market demand for UVSS in developed nations |
| Limited growth ratio attributed to the over-saturation of the product in developed regions |
COVID-19 Scenario:
- The automotive sector had been negatively impacted by the COVID-19 pandemic which affected the production and demand for vehicle scanner.
- The spread of the pandemic from China limited raw material exports to other countries, thereby disrupting industry operations globally and restricting market growth.
- The global market was severely impacted by social distance norms, closed borders, and production constraints brought on by the pandemic in a number of nations, including China, India, and the United States.
The report offers a detailed segmentation of the global vehicle scanner market based on scanner type, structure type, application, component, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on scanner type, the fixed segment held the largest share in 2021, accounting for around half of the global vehicle scanner market. On the other hand, the portable segment is expected to lead the trail during the forecast period. The same segment is expected to manifest highest CAGR of 8.2% from 2022 to 2031.
Based on structure type, the UVSS segment captured the largest market share of more than half of the global vehicle scanner market in 2021. However, the drive through segment is expected to dominate in terms of revenue and achieve the fastest CAGR of 7.9% through 2031.
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Based on application, the government segment garnered the highest market share of more than half of the global vehicle scanner market in 2021. Moreover, the private segment is expected to rule the roost during the forecast period. The same segment is expected to manifest highest CAGR of 7.9% from 2022 to 2031.
Based on component, the camera segment held the highest share in 2021, accounting for more than one-fourth of the global vehicle scanner market in 2021. However, the software segment is expected to lead the trail during the forecast period. Also, the same segment is likely to achieve the fastest CAGR of 7.2% throughout the forecast period.
Based on region, the market in North America was the largest in 2021, accounting for nearly one-third of the global vehicle scanner market in 2021 and is likely to maintain its dominance during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 6.9% from 2022 to 2031.
Leading players of the global vehicle scanner market analyzed in the research include Secuscan, Gatekeeper Security Inc., Tescon AG, intelliscan, VMI Security System, godrej & boyce mfg. co. Ltd., scanlab gmbh, uveye, international road dynamics southa asia pvt. Ltd., Omnitec Group
The report analyzes these key players of the global vehicle scanner market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
