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The automotive diagnostic scan tools market share is expected to increase by USD 2.51 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 1.57%.
This automotive diagnostic scan tools market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive diagnostic scan tools market segmentation by product (pc-based tools and Hand-held tools) and geography (APAC, Europe, North America, South America, and MEA). The automotive diagnostic scan tools market report also offers information on several market vendors, including ACTIA Group, AVL DiTEST GmbH, CarMD.com Corp., Continental AG, Delphi Technologies Plc, DENSO Corp., Robert Bosch GmbH, Siemens AG, Snap-on Inc., and Softing AG among others.
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The governing bodies mandating safety regulations is notably driving the automotive diagnostic scan tools market growth, although factors such as frequent need for updating automotive diagnostic scan tools may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive diagnostic scan tools industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Diagnostic Scan Tools Market Driver
The governing bodies mandating safety regulations are one of the key factors driving the growth of the global automotive diagnostic scan tools market. The need for advanced automotive diagnostic scan tools in vehicle workshops will grow during the forecast period amid governing bodies in various regions mandating certain safety and driver-assist features in vehicles. Driver-assist features, which were limited to top-end variants of vehicles, will now be required to be equipped across all vehicle model lines. This will significantly increase the need for additional automotive diagnostic scan tools for servicing the growing number of mainstream vehicles while adhering to completion timelines. Automotive artificial intelligence-controlled safety features, which detect the drowsiness levels, eye movements, and breathing patterns of the driver, will be made mandatory by governments for curbing the number of drunk and tired drivers on the roads. The addition of these electronic features in mainstream vehicles will raise the need for more automotive diagnostic scan tools for detecting such issues going forward.
Key Automotive Diagnostic Scan Tools Market Trend
The smartphone connectivity with automotive diagnostic scan tools will fuel the global automotive diagnostic scan tools market growth. Embedded vehicle diagnostics enhance customer satisfaction by reducing the overall time taken to find the root cause of an issue and undertake corrective measures. An automotive diagnostic scan tool downloads complete data from the OBD-II port to find the root cause of an error. Consulting the diagnostic data will help a mechanic to undertake repair work. The growing use of smartphone applications and connectivity technologies, such as Bluetooth, has enabled manufacturers to develop automotive diagnostic scan tools that can connect with a smartphone through Bluetooth or Wi-Fi. This allows a user to remotely access the health of a vehicle system, the distance traveled, and other diagnostic information. Integrating smartphone-enabled connectivity allows users to easily understand the issues faced by vehicles, without the need for an error code operator. The Verizon Hum+ is a widely used diagnostic scan tool that can scan and interpret vehicle diagnostic error codes and display information to the user through a Wi-Fi-enabled smartphone. Customers can avail of these connectivity services upon the purchase of a monthly or yearly subscription.
Key Automotive Diagnostic Scan Tools Market Challenge
The frequent need for updating automotive diagnostic scan tools is a major challenge for the global automotive diagnostic scan tools market growth. Most cars currently are equipped with advanced electronic systems that feature new lines of codes and updated software, which require timely updates of diagnostic scan tools to detect issues in-vehicle systems. The frequency of technological obsolescence is high in the automotive diagnostic scan tools market, as vehicle manufacturers constantly upgrade vehicle systems to improve safety and performance. Furthermore, electronic systems in vehicles are vulnerable to hacking. Hence, effective safety measures have to be taken by manufacturers to ensure the integrity of vehicle control systems. Diagnostic scan tools require regular upgrades for optimum functioning. Vehicle dealerships are offered to automotive diagnostic scan tools that can detect anomalies occurring from the time of tool purchase. However, the tools need to be upgraded to understand their functioning and recognize issues with upgraded automotive systems.
This automotive diagnostic scan tools market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive diagnostic scan tools market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive diagnostic scan tools market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive diagnostic scan tools market encompasses successful business strategies deployed by the key vendors. The automotive diagnostic scan tools market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive diagnostic scan tools market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive diagnostic scan tools market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global automotive components and accessories market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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34% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive diagnostic scan tools market in APAC. Market growth in this region will be slower than the growth of the market in regions.
The governing bodies mandating safety regulations will facilitate the automotive diagnostic scan tools market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional market witnessed a significant decline in revenue due to the outbreak of COVID-19 in 2020. Furthermore, automotive sales dropped, which declined the demand for cockpit modules. However, in the last quarter of 2020, many countries across APAC lifted the restrictions on various businesses. The vendors were then able to resume their routine operations by adhering to the COVID-19 guidelines of social distancing and restricting the entry of non-essential visitors at their facilities. In-person interactions in workplaces were limited and daily temperature monitoring was mandated at the entry points. Such initiatives are expected to help vendors remain operational, which will allow the market to recover slowly during the forecast period.
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The automotive diagnostic scan tools market share growth in the PC-based tools segment will be significant during the forecast period. PC-based automotive diagnostic systems are highly advanced computing machinery used to check discrepancies in error codes, rewrite the codes if necessary, and rectify errors by connecting to a computer. PC-based automotive diagnostic systems allow operators to reprogram error codes on the computer in accordance with various OBD standards followed in a particular region.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive diagnostic scan tools market size and actionable market insights on post COVID-19 impact on each segment.
Automotive Diagnostic Scan Tools Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.57% |
Market growth 2021-2025 |
$ 2.51 billion |
Market structure |
Fragmented |
YoY growth (%) |
0.61 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 34% |
Key consumer countries |
China, US, Germany, Japan, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ACTIA Group, AVL DiTEST GmbH, CarMD.com Corp., Continental AG, Delphi Technologies Plc, DENSO Corp., Robert Bosch GmbH, Siemens AG, Snap-on Inc., and Softing AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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