Diagnostic Scan Tools Market Overview by Business Manufactures with Forecast Analysis 2018-2025 | Actia SA, AVL List GmbH, Continental AG, Delphi Automotive PLC, Denso Corporation, Hickok Incorporated, Kpit Technologies, Robert Bosch GmbH

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.

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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.

According to International Organization of Motor Vehicle Manufacturers (OICA) data, the number of vehicles in use have witnessed an increase of over 3.7% CAGR over the term of 2005 to 2015, pegged at over 1.28 billion vehicles in 2015. Moreover, according to the organizations sales data, average sales of the vehicles has witnessed CAGR of over 3.2% over the period of 2006 to 2016, accounting for around 93.9 million vehicle sales in 2016. Growth in vehicle sales is expected to increase demand for automotive maintenance and services in the near future. Moreover, the need to reduce time and effort for detection, maintenance, and repair of automobiles is major factor expected to fuel growth of the global diagnostic scan tools market over the forecast period.

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.

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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.

Advancements in wireless communication-based equipment and compactness of diagnostic equipment devices have led to significant growth in adoption of these devices. Handheld equipment and wireless communication-based equipment offer features such as mobility and efficiency in detection of automotive internal conditions and faults. Furthermore, growing is expected to propel growth of the diagnostic scan tools market over the forecast period. For instance, according to the Organization Internationale des Constructeurs d'Automobiles (OICA), in 2015, motorization rate was 182 vehicles per 1000 inhabitants.

Based on the product type, diagnostic equipment (hardware) segment was dominant in the global diagnostic scan tools market share in 2016, and is expected to continue its dominance over the forecast period. This aids in fault detection reliance on the analog and digital components to enable functionality of such devices. However, software segment is expected to witness highest growth over the forecast period, as software analyzes the complex codes to perform diagnosis of powertrain, chassis, and the body. Additionally, introduction of compact tools to reduce space footprint and incorporation of wireless communications is expected to significantly contribute to growth of the 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.

Key Players operating in Global Diagnostic Scan Tools Market:
Some of the key players in the global diagnostic scan tools market are 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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