Global Diagnostic Scan Tools Market to Surpass US$ 720.3 Million by 2025

Published On : Jan 04, 2018

The diagnostic scan tools market was valued at US$ 463.1 million in 2016 and is projected to reach US$ 720.3 million by 2025, exhibiting a CAGR of 5.02% over the forecast period, according to Global Diagnostic Scan Tools Market Report, by Product Type (Diagnostic Equipment (Hardware), Diagnostic Software, and Repair & Diagnostic Data), by Technology (Handheld Scan Tool, Mobile Device Based Scan Tool, PC/Laptop Based Scan Tool, Data Loggers, Emission Testing, Drivers’ Supplementary Vehicle Instrumentation, and Vehicle Telematics), by Vehicle Type (Passenger Cars and Commercial Vehicles), by End Use (Workshop & Service Centers and In-house Test Centers) published by Coherent Market Insights.

Diagnostic scan tools are electronic tools incorporated with required software and hardware for precise and real-time examination of the automotive. These find significant applications in in-house OEM test centers, automotive workshops, and service centers. These devices and systems are gaining significant popularity owing to reduction in time and effort of the consumer in detecting internal fault conditions of the vehicle.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/diagnostic-scan-tools-market-1185

Browse 60 market data tables* and 40 figures* on "Global Diagnostic Scan Tools Market” - Global forecast to 2025.

Key Trends and Analysis of the Global Diagnostic Scan Tools Market:

  • In terms of product type, diagnostic scan software segment is expected to witness highest growth over the forecast period. Growth of the segment can be attributed to increasing introduction of new automotive models each year, increasing vehicle electrification, and substantial number of upgrades introduced every year to enhance the functionality of these systems. However, diagnostic equipment is expected to retain its dominance over the forecast period.
  • Mobile device based scan tools segment is expected to witness highest growth over the next few years, owing to mobility of operations offered by these devices in addition to small price difference in the products. PC/Laptop based tools segment is expected to retain its dominance in the global industry share, owing to their high industry penetration and applications in upgrade and reprograming of the vehicles control module.
  • Introduction of advanced technologies that include vehicle electrification, collision warning system, automatic braking, and adaptive cruise control, among other have inadvertently led to increased automotive costs. These equipment enhance the lifetime of the vehicle in conjunction to the added complexity of the maintenance. According to European Automobile Manufacturers Association, average age of the cars in the region has increased drastically from 8.4 years in 2007, to 10.7 years in 2015. Proliferation of similar technologies and requirement to enhance the average life cycle of the automotive is expected to present strong growth prospects for the global diagnostic scan tools market in the near future.

Key Takeaways of the Market:

  • According to Coherent Market Insights’ analysis, Asia Pacific diagnostic scan tools market is expected to witness highest growth over the forecast period. Increasing production and sales of vehicles in the region is expected to be among the prominent factors fueling the regional growth. China, India, Japan, Indonesia, and South Korea are expected to significantly contribute to the regional growth over the forecast years.
  • Lack of skilled workforce for troubleshooting, fault finding, and maintenance of the vehicles is among the major factor hampering growth of the market. Moreover, technological limitation owing to which significant share of vehicles remain undiagnosed or misdiagnosed. Along with these factors, availability of DIY kits for problem identification in automotive are expected to significantly hinder growth of global diagnostic tools market.
  • Some of the major players in the global diagnostic scan tools market include Actia SA, AVL List GmbH, Continental AG, Delphi Automotive PLC, Denso Corporation, Hickok Incorporated, Kpit Technologies, Robert Bosch GmbH, Snap on Incorporated, and Softing AG.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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