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Automotive Diagnostic Scan Tools Market SWOT Analysis, Industry Revenue, Competitive Landscape, Growth Overview And Forecast To 2032 | Denso Corp., Snap-On Inc., DG Technologies, Softing AG, Actia Group SA
Automotive Diagnostic Scan Tools Market Size
The Business Research Company's Automotive Diagnostic Scan Tools Global Market Report 2023 identifies The rise in vehicle production and sales as the major driver for the automotive diagnostic scan tools market's growth in the forecast period. Automotive scan tools are used to quickly and accurately identify the problem areas in specific locations based on data extracted from sensors, microchips, and built-in-processors. As the number of vehicles increases, the demand for automotive diagnostics tools is expected to increase, as the repair and maintenance companies look for innovative diagnostics tools to increase the speed and efficiency of vehicle diagnostics activities.
The global automotive diagnostic scan tools market size grew from $36.73 billion in 2022 to $39.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive diagnostic scan tools market size is expected to grow to $52.06 billion in 2027 at a CAGR of 7.1%.
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Major competitors in the automotive diagnostic scan tools market are Denso Corp., Snap-On Inc., DG Technologies, Softing AG, Actia Group SA, Dsa Daten-Und Systemtechnik GmbH, Hickok Inc., Bosch Automotive Service Solutions Inc., Delphi Automotive PLC, Kpit Technologies, Launch Tech, Volvo Group, Autel Intelligent Technology Corp. Ltd., Fluke Corporation, Honda Motor Company Ltd., and Siemens.
A key trend in the automotive diagnostic scan tools market includes technological advancement. The companies operating in the automotive diagnostic scan tool market are investing in the development of innovative technologies to increase the reach of their products to at-home customers. For instance, in October 2021, Continental AG launched Autodiagnos Drive, an innovative remote vehicle data solution for remotely diagnosing vehicular problems. The new product is a plug-and-play technology for accessing diagnostic information for vehicles.
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The automotive diagnostic scan tools market is segmented -
• By Type: On-Board Diagnostics (OBD), Electric System Analyzers, Other Types
• By Vehicle Type: Passenger Cars, Commercial Vehicles
• By Offering Type: Diagnostic Equipment/Hardware, Diagnostic Software
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive diagnostic scan tools market.
The Business Research Company's "Global Automotive Diagnostic Scan Tools Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Diagnostic Scan Tools Market Include:
1. Executive Summary
2. Automotive Diagnostic Scan Tools Market Characteristics
3. Automotive Diagnostic Scan Tools Market Trends And Strategies
4. Automotive Diagnostic Scan Tools Market - Macro Economic Scenario
5. Automotive Diagnostic Scan Tools Market Size And Growth
……
26. Africa Automotive Diagnostic Scan Tools Market
27. Automotive Diagnostic Scan Tools Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Diagnostic Scan Tools Market
29. Automotive Diagnostic Scan Tools Market Future Outlook and Potential Analysis
30. Appendix
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