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Automotive Diagnostic Scan Tools Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Automotive Diagnostic Scan Tools Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 10, 2024 /EINPresswire / -- The automotive diagnostic scan tools market has experienced robust growth in recent years, expanding from $38.81 billion in 2023 to $41.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increased vehicle complexity, onboard diagnostics (obd) standards implementation, consumer awareness and demand, regulatory compliance requirements, growing complexity of modern vehicles.
What Is The Estimated Market Size Of The Global Automotive Diagnostic Scan Tools Market And Its Annual Growth Rate?
The automotive diagnostic scan tools market is projected to continue its strong growth, reaching $52.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to growth in electric and hybrid vehicles, integration of artificial intelligence in diagnostics, increased connected cars, emphasis on predictive maintenance, expansion of telematics systems.
Explore Comprehensive Insights Into The Global Automotive Diagnostic Scan Tools Market With A Detailed Sample Report:
Growth Driver Of The Automotive Diagnostic Scan Tools Market
The rise in vehicle production and sales is expected to propel the growth of the automotive diagnostic scan tools market. Automotive scan tools are used to quickly and accurately identify the problem areas in specific locations based on data extracted from sensors, microchips, and built-in-processors. As the number of vehicles increases, the demand for automotive diagnostics tools is expected to increase, as the repair and maintenance companies look for innovative diagnostics tools to increase the speed and efficiency of vehicle diagnostics activities.
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Who Are The Leading Competitors In The Automotive Diagnostic Scan Tools Market Share?
Key players in the automotive diagnostic scan tools market include Nippon Denso Co. Ltd., Snap-On Inc., DG Technologies Inc., Softing AG, Actia Group SA, Dsa Daten-Und Systemtechnik GmbH, Hickok Inc.
What Are The Dominant Trends In Automotive Diagnostic Scan Tools Market Growth?
Major companies operating in the automotive diagnostic scan tools market are focusing on innovating products with technology, such as the ADS 625X, to provide reliable services to customers. ADS 625X is automotive diagnostic scan tool portfolio designed to meet the needs of technicians in the automotive industry.
How Is The Global Automotive Diagnostic Scan Tools Market Segmented?
1) By Type: On-Board Diagnostics (OBD), Electric System Analyzers, Other Types
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Offering Type: Diagnostic Equipment/Hardware, Diagnostic Software
Geographical Insights: Asia-Pacific Leading The Automotive Diagnostic Scan Tools Market
Asia-Pacific was the largest region in the automotive diagnostic scan tools market in 2023 is expected to be the fastest growing region in the forecast period. The regions covered in the automotive diagnostic scan tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Diagnostic Scan Tools Market Definition
The automotive diagnostic scan tools refer to a hardware device or software that reads a vehicle computer system, including major components such as transmission, engine, airbags, and others. These diagnostic tools access the data memory of control units and onboard electronics to evaluate or analyze them.
Automotive Diagnostic Scan Tools Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive diagnostic scan tools market report covering trends, opportunities, strategies, and more
The Automotive Diagnostic Scan Tools Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive diagnostic scan tools market size, automotive diagnostic scan tools market drivers and trends, automotive diagnostic scan tools market major players, automotive diagnostic scan tools competitors' revenues, automotive diagnostic scan tools market positioning, and automotive diagnostic scan tools market growth across geographies. The automotive diagnostic scan tools market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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