PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397132
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397132
Automotive Diagnostic Scan Tools Market size was valued at USD 33,812.1 Million in 2022, expanding at a CAGR of 4.4% from 2023 to 2030.
Automotive Diagnostic Scan Tools, often simply referred to as diagnostic scanners or OBD (On-Board Diagnostics) scanners, are electronic devices used by mechanics, technicians, and vehicle owners to diagnose and troubleshoot issues in modern vehicles. These tools have become increasingly sophisticated and essential in the automotive industry due to the complexity of modern vehicles and the integration of various electronic and computer systems.
The market for automotive diagnostic scan tools is poised for expansion, primarily driven by the rising sales of passenger vehicles. The passenger vehicle sector has witnessed substantial growth, experiencing increased demand in the world's top three auto markets: China, the United States, and Europe. Factors such as the escalating need for environmentally friendly commuting options and government initiatives supporting mandatory vehicle inspections have prompted manufacturers to make automotive diagnostic scan tools accessible on a global scale. Within the automotive market, passenger cars constitute the swiftly growing segment and are anticipated to undergo significant growth in the forecast period. Business Insider reports that the total count of passenger cars on the roads is projected to double by 2040, reaching an estimated 2 billion. Moreover, global passenger car sales are expected to increase from 64.1 million units in 2021 to 72.5 million units in 2025, creating a heightened demand for automotive diagnostic tools in the marketplace.The passenger cars market is significantly influenced by the distribution of wealth within a country or region and serves as an effective barometer for assessing financial stability. The expansion of the automotive diagnostic scan tools market can be attributed to the rapid urbanization observed in emerging economies, leading to a surge in the demand for personal motor vehicles.
The Global Automotive Diagnostic Scan Tools Market is segmented on the basis of Vehicle Type, Type, Connectivity, and Region.
The market is divided into two categories based on Vehicle Type: Passenger Cars & Commercial Vehicles. The passenger cars segment is projected to capture the largest share of the overall market. These vehicles are substantial contributors to pollution due to their emissions. Diagnostic scan tools play a crucial role in monitoring and identifying faults in the emission control system.
The market is divided into two categories based on type: Diagnostic Equipment / Hardware and Software In 2022, the diagnostic equipment/hardware segment is anticipated to dominate the automotive market. This segment's growth can be attributed to the rising number of vehicles in both developed and emerging nations and the increasing complexity of vehicle electronics. Automotive diagnostic equipment/hardware tools are typically physical devices designed to assess the conditions of various automotive hardware components. The growing complexity of vehicles has amplified the need for automotive diagnostic equipment/hardware in automotive workshops, driving the expansion of the automotive diagnostics equipment/hardware market.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Companies in the auto diagnostic scan tools market employ a range of strategies to maintain competitiveness and meet evolving customer needs. These strategies encompass technological innovation to introduce more advanced and user-friendly diagnostic tools, strategic partnerships with vehicle manufacturers to ensure compatibility, and the development of comprehensive diagnostic solutions that cover a wide array of vehicle systems. Additionally, companies often focus on providing excellent customer support and training to help users effectively utilize their products. They also keep a close eye on global automotive trends and regulations, ensuring that their diagnostic tools remain compliant and valuable in a rapidly changing automotive landscape.
In March 2021, Robert Bosch GmbH unveiled the ADS 625 X, a cutting-edge tool capable of conducting complete system DC scans in under 60 seconds on average, with some scans being completed in just 30 seconds. This scan tool offers technicians extensive vehicle coverage, spanning a wide spectrum of domestic, Asian, and European vehicles.
By August 2021, Continental AG had introduced Autodiagnos Drive, an innovative remote vehicle data solution engineered to provide advanced diagnostic data. This information is invaluable to service providers, fleet managers, and repair facilities, enabling them to optimize their data-driven services.