Automotive Diagnostic Scan Tools Market Size, Industry Analysis Report By vehicle type (passenger cars, commercial vehicles), By product type (diagnostic equipment/hardware, diagnostic software) & Region – Forecasts By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 251
- CATEGORY
- Automotive & Transportation
Automotive Diagnostic Scan Tools Market is presently worth USD 35 billion and is poised to amplify at a CAGR of 5% over 2022-2030, thereby amassing a valuation of USD 60 billion by end of the assessment timeline.
During the early stages of the COVID-19 pandemic, the expansion of the automotive diagnostics scan instruments industry was severely hampered by the closure of important auto manufacturers and the sharp decline in vehicle sales & services.
In the post-COVID-19 age, which will begin in 2022, the pandemic has pushed the advancement of automation, digitalization, and AI in the automotive industry, increasing resilience to further pandemic crises.
The sector is anticipated to rise as a result of auto OEMs' growing interest in including contemporary in-vehicle communications in their new models as a tactic to raise product value and market sales.
Stricter emission regulations to decrease carbon footprints, an increase in the number of workshops and gas station. Vehicle electrification and increasing architectural complexity growing acceptance of EVs and hybrid automobiles, as well as increased consumer desire for high-end vehicles.
The automotive scan tool is a device used to diagnose cars. It involves the electrical hardware and software tools used to diagnose automobile issues. before any troubleshooting issue arises, defects in the car are found, analysed, and controlled, and the vehicle is reprogrammed.
It is utilised to provide the information technically through the usage of OBD software. Using on-board diagnostics, a vehicle's systems can be checked for problems and faults. defects in the vehicles' engines, fuel systems, batteries, transmissions, and different electronic components.
Growing role of vehicle tracking in fleet management
The market needs for integrated vehicle tracking in new vehicles is being driven by strict government rules relating to passenger and vehicle safety. Due to growing client demand, service stations are also retrofitting older vehicles with vehicle monitoring systems, further boosting the industry's profits.
The advanced developed technologies in automotive diagnostics scan tools in the vehicles will help the market expansion
The market has been supported to grow to a greater level throughout the projection period thanks to the sophisticated created technologies in automotive diagnostics scan tools in the automobiles with higher market needs.
Automotive Diagnostic Scan Tools Market- Segmental Assessment
By product type
• Diagnostic equipment/hardware
• Diagnostic software
• Others
By vehicle type
• Passenger cars
• Commercial vehicle
• others
Global Automotive Diagnostic Scan Tools Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030. The Asia Pacific automotive diagnostic scan tools market is characterised by expanding vehicle manufacturing in the region's automotive hubs, which is driving up demand for high-quality vehicle diagnostic solutions.
Automotive Diagnostic Scan Tools Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Robert Bosch GmbH (Germany), Siemens (Germany), Continental AG(Germany), Denso (Japan), Snap-on (US), and others.
Key Segments Covered-
1) By vehicle type (passenger cars, commercial vehicles, and others).
2) By product type (diagnostic equipment/hardware, diagnostic software, and others).
Major Regions and Countries Reported-
1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Automotive Diagnostic Scan Tools Market is presently worth USD 35 billion and is poised to amplify at a CAGR of 5% over 2022-2030, thereby amassing a valuation of USD 60 billion by end of the assessment timeline.
What are the drivers shaping various markets?
Growing role of vehicle tracking in fleet management: - The market needs for integrated vehicle tracking in new vehicles is being driven by strict government rules relating to passenger and vehicle safety. Due to growing client demand, service stations are also retrofitting older vehicles with vehicle monitoring systems, further boosting the industry's profits. The advanced developed technologies in automotive diagnostics scan tools in the vehicles will help the market expansion.
Who are the key competitors of market Players?
Some of the major players operating within the market are Robert Bosch GmbH (Germany), Siemens (Germany), Continental AG(Germany), Denso (Japan), Snap-on (US), and others.
What are the top performing segments, and countries / regions of each of the markets?
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030. The Asia Pacific automotive diagnostic scan tools market is characterised by expanding vehicle manufacturing in the region's automotive hubs, which is driving up demand for high-quality vehicle diagnostic solutions.
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