Automotive Diagnostic Scan Tools Market will exhibit a CAGR of 5.1% between 2020 and 2027, and reach USD 45.02 billion by 2027, and the Market value as per 2019 was USD 38.72 billion.
Fortune Business Insights™ in a new report, titled, “Automotive Diagnostic Scan Tools Market Size, Share & COVID-19 Impact Analysis, By Product Type (On-Board Diagnostics (OBD), Electric System Analyzer, Others), By Vehicle Type (Passenger Car, Commercial Vehicles), and Regional Forecast, 2020-2027.”
Automotive Diagnostic Scan Tools Market Drivers and Restraint:
Increased Production and Usage of Vehicles to Spur Demand
The growth of the automotive diagnostic scan tools market is particularly driven by rapid urbanization in emerging economies that have led to an increase in demand for personal motor vehicles. Growing demand by consumers for passenger cars equipped with sophisticated automotive diagnostic software has led to greater adoption of these scan tools. Hence, these major factors are responsible for fueling the growth of this market.
Technological Advancement of Vehicles to Promote Growth
Vehicle architecture has become increasingly complex with greater application of technologies such as electronic control modules and advanced driver assistance systems. Fault diagnosis for such systems is technically challenging for regular end-users. Hence, diagnostic scan tools with the provision of standard fault codes and other services provide a simple interface to consumers to determine the issues with the car and avoid expensive workshop repair for minor problems. Hence, the greater complexity of automotive electronics is likely to drive the growth of the market.
List of Key Players Covered in the Automotive Diagnostic Scan Tools Market Report:
• ACTIA Group (Toulouse, France)
• Snap-on Incorporated (Wisconsin, U.S.)
• Softing AG (Haar, Germany)
• Robert Bosch GmbH (Gerlingen, Germany)
• Delphi Technologies (London, U.K.)
• Denso Corporation (Aichi, Japan)
• SPX Corporation (North Carolina, U.S.)
• Continental AG (Hanover, Germany)
• SGS SA (Geneva, Switzerland)
• Horiba, Ltd. (Kyoto, Japan)
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/automotive-diagnostic-scan-tools-market-101914
Some of the key industry developments in the Automotive Diagnostic Scan Tools Market Include:
• May 2019 – Denso further enhanced its vehicle inspection tool, e-Videns, with the addition of vehicle reset functionality. The new tool features options for service interval resets and diagnostic trouble code resets. The update enables technicians to access the same reset functions available with OE equipment, eliminating the need to switch to other equipment.
• April 2019 – Bosch introduced the new Visual Connect app that connects workshop customers with experts at technical support via the app and smartphone camera. Visual Connect can be used in the workshop without additional hardware investment.