Key companies covered are General Technologies Corp, AVL List GmbH, Actia Group SA, Etas GmbH, Snap-On Inc., Bosch Automotive Service Solutions, Inc., Softing AG and more...
An electric scan tool for reprogramming, and diagnosing the control modules of a vehicle is known as an automotive diagnostic scan tool or scanner. A detailed analysis of the market and its growth parameters are discussed in a recently published report by Fortune Business Insights™ titled, “Automotive Diagnostic Scan Tools Market Size, Share & Industry Analysis, By Type (Diagnostic Equipment/Hardware, Diagnostic Software), By Electric Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)), By Vehicle Type (Passenger Cars, Commercial Vehicles) and Regional Forecast, 2019-2026.” They can view data readings through various sensors and be plugged into reading and clear codes, OBD-II or OBD-I socket. The increasing number of strict regulations on vehicular emission has propelled the demand for automotive diagnostic scan tools.
These tools make it easier to identify any damage in the vehicle due to the presence of advanced electronic systems installed in it. The increasing demand to abide by the stringent regulations imposed on vehicular emissions is increasing the automotive diagnostic scan tools market size.
Companies Operating in the Automotive Diagnostic Scan Tools Market include:
- General Technologies Corp
- Denso Corp
- Hickok Inc.
- Dg Technologies
- SPX Corp.
- AVL List GmbH
- Actia Group SA
- Etas GmbH
- Snap-On Inc.
- Bosch Automotive Service Solutions, Inc.
- Softing AG
Get Sample PDF Brochure with Impact of COVID-19 Analysis:
Highlights of the Report
- An elaborative overview of the automotive diagnostic scan tools market
- Growth parameters such as drivers, restraints, and challenges of the market
- Detailed segmentation of the market based on type, vehicle type, electric vehicle type, and regions with market figures and forecasted CAGRs.
- Major industry developments and interesting insights into the market
- Competitive landscape, list of significant players in the market and the prime strategies adopted by them
- Current automotive diagnostic scan tools market trends and opportunities
Technological Advancement IN Electronic Systems of Vehicles to Drive Market
Earlier, detecting the problem in an automobile was a time-consuming and lengthy procedure. It required expert advice from a mechanical professional, accompanied by several tools for analyzation of the vehicle. With the advancement in technology and electronic systems, it is now possible to diagnose vehicles within a short period. The time-saving and quick detection factors of the latest automotive detectors have propelled the automotive diagnostic scan tools market growth. Besides this, the efficiency of these devices to analyze complex codes while diagnosing the vehicle is expected to help attract high automotive diagnostic scan tools market revenue in the forecast duration. Analysts at Fortune Business Insights™ say, “strict rules imposed on vehicular emission by governments may propel the demand for vehicle diagnostic devices and thus help to increase the overall automotive diagnostic scan tools market size in the long run.”
However, the expensive rate of the equipment used for automotive diagnosis may be a major threat to the market. This, accompanied by the data security concerns, may cause hindrance to the overall automotive diagnostic scan tools market growth.
Nevertheless, the benefits provided by insurance companies and fleet operators are likely to create lucrative automotive diagnostic scan tools market growth opportunities in the future. This, coupled with the increasing demand for comfort and luxury in vehicles and immediate vehicular assistance, will help the market gain traction in the forecast period.
Asia Pacific is Dominating Market with Rise in Production of Automobiles
From a geographical perspective, the market is categorized into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions is categorized into nations. Among these, Asia Pacific accounted for a dominant automotive diagnostic scan tools market share owing to the increase in sales and a rise in production of automobiles in nations such as Japan, China, and India. This is followed by Europe on account of the strict regulations imposed by the regional government related to vehicular emissions. Moreover, the presence of large automobile manufacturing giants such as Porche, Volkswagen, Audi AG, and Renault is further responsible for the overall growth of the European market.
Companies Investing Huge Sums into Development of Better Diagnostic Equipment
Automotive diagnostic scan tools market manufacturers are emphasizing on expanding their product portfolio across various regions. Thus, they are investing huge sums into research and development of better sensor technologies, smartphone applications to get updates on vehicular health, and others. This will help players gain a competitive edge in the market and contribute to the overall automotive diagnostic scan tools market growth in the forecast duration.
Get your Customized Research Report:
More Interestings Reports:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.