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Automotive Diagnostic Scan Tools Market New Trends, Share Insights, Analysis And Forecast 2033

06-18-2024 07:08 AM CET | Logistics & Transport

Press release from: The Business research company

Automotive Diagnostic Scan Tools Market New Trends

Automotive Diagnostic Scan Tools Market New Trends

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Automotive Diagnostic Scan Tools Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $52.55 billion In 2028 At A CAGR Of 6.3% :

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, onboard diagnostics (obd) standards implementation, consumer awareness and demand, regulatory compliance requirements, 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 growth in electric and hybrid vehicles, integration of artificial intelligence in diagnostics, increased connected car, emphasis on predictive maintenance, expansion of telematics systems. Major trends in the forecast period include wireless diagnostic scan tools, cloud-based diagnostics solutions, mobile app integration for diagnostics, real-time remote diagnostics, blockchain technology for secure diagnostic data sharing.

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Automotive Diagnostic Scan Tools Market Major Segments
The automotive diagnostic scan tools market covered in this report is segmented -
1) By Type: On-Board Diagnostics (OBD), Electric System Analyzers, Other Types
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Offering Type: Diagnostic Equipment/Hardware, Diagnostic Software

Key Driver - Surging Vehicle Production And Sales Driving Growth In The Automotive Diagnostic Scan Tools Market

The rise in vehicle production and sales is expected to propel the growth of the automotive diagnostic scan tools market. 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. For instance, in May 2023, according to the European Aupatomobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase compared to both 2021.Therefore, the rise in vehicle production and sales is driving the growth of the automotive diagnostic scan tool market.

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Prominent Trend - Technological Advancements In The Automotive Diagnostic Scan Tool Market

Technological advancement is a key trend gaining popularity in the automotive diagnostic scan tool market. 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.

Automotive Diagnostic Scan Tools Market Players
Major companies operating 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 für 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

View The Full Report Here -
https://www.thebusinessresearchcompany.com/report/automotive-diagnostic-scan-tools-global-market-report

Largest And Fastest Growing Region In The Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Diagnostic Scan Tools Market Report Structure
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
…..
27. Automotive Diagnostic Scan Tools Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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Email: info@tbrc.info

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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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