New York, United States , July 30, 2024 (GLOBE NEWSWIRE) -- The Global Automotive Diagnostic Scan Tools Market Size Expected to Grow from USD 34.25 Billion in 2023 to USD 64.42 Billion by 2033, at a CAGR of 6.52% during the forecast period 2023-2033.
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Automotive diagnostic scan tools are electronic instruments that are used to identify problems with automobiles. They aid in the reprogramming of automotive control modules, as well as the detection and diagnosis of electronic system issues in a wide range of vehicles. Automotive diagnostic scan tools connect with a vehicle's onboard computer system to read and clear diagnostic trouble codes (DTCs), display real-time data and perform tasks such as reprogramming and coding. They assist in reprograming vehicle control modules as well as detecting and analysing electronic system issues in a wide range of passenger and commercial vehicles. As a result, Advantage and DIY enthusiasts diagnose issues using this equipment at vehicle workshops and repair stations. The development of artificial intelligence (AI) in automotive diagnostic scan tools, which enables more accurate and efficient repairs, real-time information for professionals, and predictive maintenance, is driving market growth. However, the high cost of technologically advanced car diagnostic scan tools has hindered product penetration across a wide variety of consumers worldwide.
Browse key industry insights spread across 221 pages with 110 Market data tables and figures & charts from the report on the "Global Automotive Diagnostic Scan Tools Market Size, Share, and COVID-19 Impact Analysis, By Offering (Diagnostic Equipment/Hardware, Diagnostic Software), By Connectivity (USB, Wi-Fi, Bluetooth), By Vehicle (Passenger Cars, Commercial Vehicles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The diagnostic equipment/hardware segment is expected to hold the largest share of the automotive diagnostic scan tools market during the anticipation timeframe.
Based on the offering, the automotive diagnostic scan tools market is categorized into diagnostic equipment/hardware, and diagnostic software. Among these, the diagnostic equipment/hardware segment is expected to hold the largest share of the automotive diagnostic scan tools market during the anticipation timeframe. Automobile diagnostic equipment/hardware devices are often physical instruments used for determining the condition of various automotive hardware components. The rising complexity of autos has increased demand for automobile diagnostic equipment/hardware in automobile workshops, resulting in market growth.
The Wi- Fi segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the connectivity, the automotive diagnostic scan tools market is categorized into USB, Wi-Fi, and Bluetooth. Among these, the Wi- Fi segment is expected to grow at the fastest CAGR during the anticipation timeframe. Wi-Fi diagnostic tools offer the convenience of wireless communication, enabling mechanics and car owners to rapidly connect their cell phones, tablets, or laptop computers to the vehicle's onboard diagnostics system.
The passenger cars segment is expected to hold a significant share of the automotive diagnostic scan tools market during the anticipation timeframe.
Based on the vehicle, the automotive diagnostic scan tools market is categorized into passenger cars, and commercial vehicles. Among these, the passenger cars segment is expected to hold a significant share of the automotive diagnostic scan tools market during the anticipation timeframe. Consumers' living standards have improved over the last decade as a result of rapid globalisation and economic growth in emerging markets. Consumers' increased disposable income has bolstered demand for passenger cars, moving the market ahead.
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Asia Pacific is projected to hold the largest share of the automotive diagnostic scan tools market over the anticipation timeframe.
Asia Pacific is projected to hold the largest share of the automotive diagnostic scan tools market over the anticipation timeframe. Global OEMs like as Volkswagen and General Motors serve this market by forming joint ventures with domestic manufacturers. The adoption of new technologies, the construction of more manufacturing units, and the establishment of value-added supply chains between manufacturers and material providers have converted Asia Pacific into a market with significant growth potential.
Europe is expected to grow at the fastest CAGR growth of the automotive diagnostic scan tools market during the anticipation timeframe. The trend of introducing distinctive characteristics into autos in response to increased security concerns among end users and increasing complexity in connected cars is expected to drive market expansion during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global automotive diagnostic scan tools market are ACTIA Group, Snap-on Incorporated, Softing AG, Robert Bosch GmbH, Delphi Technologies, Denso Corporation, SPX Corporation, Continental AG, SGS SA, Horiba, Ltd., and others.
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Recent Developments
- In April 2023, Launch Tech USA, based in the United States, has added Nissan Security Gateway support to its suite of scan products.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive diagnostic scan tools market based on the below-mentioned segments:
Global Automotive Diagnostic Scan Tools Market, By Offering
- Diagnostic Equipment/Hardware
- Diagnostic Software
Global Automotive Diagnostic Scan Tools Market, By Connectivity
- USB
- Wi-Fi
- Bluetooth
Global Automotive Diagnostic Scan Tools Market, By Vehicle
- Passenger Cars
- Commercial Vehicles
Global Automotive Diagnostic Scan Tools Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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