PUBLISHER: The Business Research Company | PRODUCT CODE: 1392463
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392463
“Automotive Diagnostic Scan Tools Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive diagnostic scan tools market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive diagnostic scan tools? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive diagnostic scan tools market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Automotive diagnostic scan tools refer to hardware devices or software that read a vehicle's computer system, including major components such as the transmission, engine, airbags, and others. These diagnostic tools access the data memory of control units and onboard electronics to evaluate or analyze them.
The main types of automotive diagnostic scan tools include onboard diagnostics (OBD), electric system analyzers, and others. Onboard diagnostics (OBD) is an electronic hardware device designed to read error memory and data recorded in in-vehicle systems. OBD readers help establish a connection between the car and a mobile app or diagnostics software. The various vehicle types that use automotive diagnostic scan tools include passenger cars and commercial vehicles, offered in various categories that encompass both diagnostic equipment/hardware and diagnostic software.
The automotive diagnostic scan tools market research report is one of a series of new reports from The Business Research Company that provides automotive diagnostic scan tools market statistics, including automotive diagnostic scan tools industry global market size, regional shares, competitors with an automotive diagnostic scan tools market share, detailed automotive diagnostic scan tools market segments, market trends and opportunities, and any further data you may need to thrive in the automotive diagnostic scan tools industry. This automotive diagnostic scan tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The automotive diagnostic scan tools market size has grown strongly in recent years. It will grow from $38. 81 billion in 2023 to $41. 09 billion in 2024 at a compound annual growth rate (CAGR) of 5. 9%. The growth in the historic period can be attributed to increased vehicle complexity, the implementation of onboard diagnostics (OBD) standards, consumer awareness and demand, regulatory compliance requirements, and the growing complexity of modern vehicles.
The automotive diagnostic scan tools market size is expected to see strong growth in the next few years. It will grow to $52. 55 billion in 2028 at a compound annual growth rate (CAGR) of 6. 3%. The growth in the forecast period can be attributed to the expansion of electric and hybrid vehicles, the integration of artificial intelligence in diagnostics, increased adoption of connected cars, emphasis on predictive maintenance, and the expansion of telematics systems. Major trends in the forecast period include wireless diagnostic scan tools, cloud-based diagnostic solutions, mobile app integration for diagnostics, real-time remote diagnostics, and the use of blockchain technology for secure diagnostic data sharing.
The upward trajectory in vehicle production and sales stands as a significant driver fueling the expansion of the automotive diagnostic scan tools market. These scan tools serve to swiftly and accurately pinpoint problem areas within vehicles by extracting data from embedded sensors, microchips, and processors. As the global vehicle count continues to rise, repair and maintenance companies seek innovative diagnostic tools to expedite and enhance the efficiency of vehicle diagnostics. According to the European Automobile Manufacturers Association, the global production of motor vehicles surged to 85. 4 million units in 2022, indicating a substantial 5. 7% increase from 2021. Similarly, Brand Finance plc reported that the automobile sector achieved approximately 78 million unit sales in 2022, marking a notable 10% rise from 2021. This surge in vehicle production and sales serves as a catalyst driving the demand for automotive diagnostic scan tools.
The burgeoning demand for passenger cars serves as a key driver propelling the growth of the automotive diagnostic scan tools market. These vehicles, primarily intended for personal and family use, heavily rely on diagnostic scan tools to detect and address issues within various systems, encompassing the engine, transmission, braking, and electrical systems. For instance, as per a report by the European Automobile Manufacturers' Association (ACEA), passenger car sales in the US escalated by 5. 5% in 2021, reaching 11. 9 million units. Moreover, US auto facilities produced over 6. 3 million passenger cars in the same year, indicating a 3. 1% increase. This surge in passenger car demand directly contributes to the growth of the automotive diagnostic scan tool market, as these vehicles heavily rely on diagnostic tools for maintenance and upkeep.
Technological advancements emerge as a prominent trend driving innovations within the automotive diagnostic scan tool market. Companies operating within this sector are actively investing in the development of cutting-edge technologies to broaden their product accessibility, particularly targeting at-home customers. For instance, in October 2021, Continental AG introduced Autodiagnos Drive, a novel remote vehicle data solution designed for diagnosing vehicular issues remotely. This plug-and-play technology facilitates access to diagnostic information for vehicles, representing a significant stride in enhancing remote diagnostic capabilities within the automotive diagnostic scan tool market.
leveraging cutting-edge technology like the ADS 625X to deliver reliable services to their clientele. The ADS 625X represents a comprehensive automotive diagnostic scan tool portfolio meticulously designed to cater to the requirements of technicians within the automotive industry. For example, in March 2021, Robert Bosch GmbH, a renowned Germany-based multinational engineering and technology firm, unveiled the ADS 625X. This innovative tool offers robust software capabilities aimed at diagnosing vehicle issues, ranging from simple to highly complex problems in cars and trucks. Notably, the ADS 625X facilitates Diagnostic Trouble Code (DTC) scans across all systems, boasting an impressive average scan time of under 60 seconds, with complete scans accomplished in a mere 30 seconds. This rapid and comprehensive diagnostic capacity sets the ADS 625X apart, addressing the diverse needs of automotive technicians efficiently.
In January 2021, Repairify, Inc., a prominent US-based provider of automotive maintenance and repair diagnostic tools, finalized the acquisition of Root Four Imagination, Inc. for an undisclosed sum. This strategic acquisition marks Repairify's endeavor to expand its service offerings by incorporating aftermarket diagnostic capabilities to meet the surging demand for comprehensive aftermarket diagnostic solutions. Root Four Imagination Inc. specializes in diagnostic scan tools tailored for automotive engineering applications. The acquisition bolsters Repairify's portfolio, enhancing its diagnostic tool suite to cater to the evolving needs of the automotive maintenance and repair sector. This strategic move positions Repairify to offer enhanced diagnostic solutions, meeting the increasing demand for reliable aftermarket diagnostic tools within the automotive industry.
Major companies operating in the in the automotive diagnostic scan tools market report are Nippon Denso Co. Ltd., Snap-On Inc., DG Technologies Inc., Softing AG, Actia Group SA, Dsa Daten-Und Systemtechnik GmbH, Hickok Inc., Bosch Automotive Service Solutions Inc., Delphi Automotive plc, Kpit Technologies Limited, Launch Tech Co. LTD, Volvo Group, Autel Intelligent Technology Corp Ltd., Fluke Corporation, Honda Motor Company Ltd., Siemens AG, Robert Bosch GmbH, Continental AG, Carman International Co. Ltd., Vector Informatik GmbH, Anstalt fur Verbrennungskraftmaschinen, Bayerische Motoren Werke Aktiengesellschaft, Daimler AG, General Technologies Corporation, SPX Technologies Inc., SGA SA corporation, Autocom Diagnostic Partner AB, Autologic Diagnostics Ltd., Bartec USA LLC, Drew Technologies Inc., Texa SPA
Asia-Pacific was the largest region in the automotive diagnostic scan tools market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive diagnostic scan tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive diagnostic scan tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive diagnostic scan tools market of sales of code readers, OBD scanners and readers, tire pressure gauge, circuit testers and multimeters, and car battery testers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributorsand retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.