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diagnostic scan tool

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The diagnostic scan tools market was valued at US$ 463.1 million in 2016 and is projected to reach US$ 720.3 million by 2025, exhibiting a CAGR of 5.02% over the forecast period
Global Diagnostic Scan Tools Market - Trends and
Forecast to 2025
Diagnostic Scan systems are electronic tools programmed to find significant applications as
an interface to diagnose problems or malfunctioning of any operations in an automobile.
These tools enable in upgrading and reprograming of the vehicles control module. On the
basis of technology, these products include, handheld, mobile device/pc/laptop based scan
tools, data loggers, emission testing, vehicle telematics, and supplementary vehicle
instrumentation.
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According to International Organization of Motor Vehicle Manufacturers (OICA) data, the
number of vehicles in use have witnessed an increase of over 3.7% CAGR over the term of
2005 to 2015, pegged at over 1.28 billion vehicles in 2015. Moreover, according to the
organizations sales data, average sales of the vehicles has witnessed CAGR of over 3.2%
over the period of 2006 to 2016, accounting for around 93.9 million vehicle sales in 2016.
Growth in the vehicles in use and sales is expected to lead to increasing demand for
automotive maintenance and services in the near future. Moreover, in order to reduce time
and effort for detection, maintenance, and repair of automobiles is a factor expected to fuel
growth of the global diagnostic scan tools market over the forecast period.
High growth rate of vehicle per thousand inhabitants coupled with limited number of
authorized service centers and workshops have in turn led to significant demand for
do-it-yourself kits
Do-it-yourself (DIY) kits offer easy operability and have gained significant popularity in the
recent past. This has led to significant demand for these kits. These DIY kits have led to
significant reduction in demand for diagnostic equipment and are projected to hamper the
overall diagnostic scan tools market growth over the forecast period.
Advancements in technology in the development of communication and compactness of
diagnostic equipment devices have led to significant growth in adoption of these devices.
Handheld equipment and wireless communication-based equipment offer features such as
mobility and efficiency in detection of automotive internal conditions and faults. These
technologies are increasingly gaining traction. In conjunction with these factors, growing
motorization rate per thousand inhabitants every year across the globe, which was 182
vehicles per 1000 inhabitants in 2015, as per OICA, is expected to propel growth of the
diagnostic scan tools market over the forecast period.
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Based on the product type, diagnostic equipment (hardware) segment was dominant in the
global diagnostic scan tools market share in 2016, and is expected to continue its dominance
over the forecast period. This aids in fault detection reliance on the analog and digital
components to enable functionality of such devices. However, software segment is expected
to witness highest growth over the forecast period, as software analyzes the complex codes to
perform diagnosis of powertrain, chassis, and the body. Additionally, introduction of compact
tools to reduce space footprint and incorporation of wireless communications is expected to
significantly contribute to growth of the market.
Europe diagnostic scan tool market was dominant in terms of value share in 2016, owing to
high utilization of the hardware systems in the region. Moreover, increasing consumer
preference for more precise diagnosis for their vehicles has led to increased proliferation of
advanced devices and systems. Some of the key players in the global diagnostic scan tools
market are Actia SA, AVL List GmbH, Continental AG, Delphi Automotive PLC, Denso
Corporation, Hickok Incorporated, Kpit Technologies, Robert Bosch GmbH, Snap on
Incorporated, and Softing AG.
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apeksha motghare
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