Automotive Diagnostic Scan Tools Market Statistics 2019-2025: Share Forecasts, Regional Trends & Growth drivers
Jun 3, 2019
MarketStudyReport.com Adds New Automotive Diagnostic Scan Tools Market Size 2019 – 2025 research report providing information and data By Offering, By Application, By Vehicle Type, By Tool Type, Industry Analysis, Competitive Market Share & Forecast spreading across 320 Pages with table and figures in it.
Delaware, Selbyville - June 3, 2019 /MarketersMedia/ —
Europe is anticipated to be the prominent region in the automotive diagnostic scan tools market with the market share of over 34% in 2018 and is estimated to attain more than USD 15 billion market size by 2025. The stringent government regulations related to vehicle emissions are driving the growth of the automotive diagnostic scan tools market in this region. In addition, the presence of prominent market players, such as Volkswagen, Renault, Audi AG, and Porsche, in these regions is also contributing to the growth. The increasing demand for passenger vehicles due to the increase in income has attracted other key automakers to manufacture their automobiles in this region.
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The Automotive Diagnostic Scan Tools market is projected to surpass USD 49 billion by 2025. The automotive diagnostic scan tools market growth is attributed to the stringent vehicle emission norms introduced by governments all over the globe. The increasing sales of vehicles will lead to continuous repair & maintenance activities to keep track of vehicle health and engine emissions, resulting in the growth of the automotive diagnostic scan tools market. With the advent of advanced technologies, such as AI, AR, and VR, the vehicles are offering advanced features, such as ABS, ADAS, and cruise control, increasing the number of ECUs in the vehicles. This complexity in vehicles has increased the time required for the detection of faults through manual diagnosis and requires automotive diagnostic scan tools to detect faults to increase operational efficiency.
The diagnostic software will witness a significant growth rate of more than 7% in the automotive diagnostic scan tools market from 2019 to 2025. The diagnostic software is proliferating due to the increasing demand for in-car infotainment and passenger convenience. The growing demand for EVs and hybrid vehicles is also contributing to the growth of the diagnostic software.
The automakers and OEMs are investing heftily in R&D and adopting advanced technologies, such as AR and VR, to develop innovative diagnostic scan tools. For instance, in September 2016, Bosch automotive service solutions developed BEA 750, which uses augmented reality to increase the operational efficiency of workshops and service stations. The automotive diagnostic scan tools market is growing at a significant CAGR over the forecast period due to the growing demand for autonomous vehicles around the globe. For instance, in 2017, autonomous car sales were estimated to be 24.23 million units and are anticipated to reach 61.82 million units by 2024, growing at a CAGR of 14.4% between 2018 and 2024.
In the application segment, the repair & maintenance is estimated to hold more than 37% market share in 2018 and is anticipated to reach over USD 16 billion by 2025. The increasing sales of new vehicles and the growing number of old vehicles are resulting in the rise in the number of service stations and workshops. The growing demand among enterprises to outsource diagnostic scan tools services and concentrate on the core business operations is propelling the demand for third-party repair & maintenance service providers. Intense competition among the market players and the growing need to provide enhanced customer experience are also encouraging repair & maintenance service providers to offer a wide range of professional services to gain customer loyalty.
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The major players in the automotive diagnostic scan tools market are focusing on various business growth strategies such as new product development, mergers, acquisitions, and partnerships. This will enable them to expand their existing portfolio and increase their geographical presence. For instance, in May 2018, Siemens PLM Software partnered with the Michigan-based American Center for Mobility (ACM) that brings Siemens? Simulation and Test solution for Automotive to ACM to support virtual and physical testing and validation of automated and connected vehicles. The partnership enabled companies to enhance their capabilities in user experience, connected mobility, and add new customers to their portfolio. Some of the prominent players operating in the automotive diagnostic scan tools market are Actia Group SA, Autel Intelligent Technology Corp., Ltd., AVL List GmbH, BMW AG, Bosch Automotive Service Solutions Inc., Continental AG, Daimler AG, Delphi Automotive PLC, Denso Corporation, DG Technologies, Fluke Corporation, General Technologies Corporation, Hickok Incorporated, Honda Motor Company, Ltd., KPIT Technologies, Launch Tech UK, Snap-on Incorporated, Softing AG, Volkswagen AG, and Volvo Group.
Table of Contents:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Automotive Diagnostic Scan Tools Industry Insights
Chapter 4. Competitive Landscape, 2018
Chapter 5. Automotive Diagnostic Scan Tools Market, By Offering
Chapter 6. Automotive Diagnostic Scan Tools Market, By Application
Chapter 7. Automotive Diagnostic Scan Tools Market, By Vehicle Type
Chapter 8. Automotive Diagnostic Scan Tools market, By Tool Type
Chapter 9. Automotive Diagnostic Scan Tools Market, By Region
Chapter 10. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/automotive-diagnostic-scan-tools-market
Related Report:
Global Automotive Diagnostic Scan Tools Market Insights, Forecast to 2025
This industry study presents the global Automotive Diagnostic Scan Tools market size, historical breakdown data (2014-2019) and forecast (2019-2025). The Automotive Diagnostic Scan Tools production, revenue and market share by manufacturers, key regions and type; The consumption of Automotive Diagnostic Scan Tools in volume terms are also provided for major countries (or regions), and for each application and product at the global level. Market share, growth rate, and competitive factors are also evaluated for market leaders Delphi Automotive PLC, Denso Corporation, etc.
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