Automotive Diagnostic Tool Market Global Segmentation and Major Key Players Analysis 2023
Automotive Diagnostic Tool Market 2018 is latest research report by MarketResearchFuture, the global Automotive Diagnostic Tool market is expected to Register High Growth Rate during 2018 To 2023. Report analyzes Automotive Diagnostic Tool Market Key Companies with Size, Share, Trends analysis, and Key Country Forecast to 2023. Automotive Diagnostic Tool Market Information is segmented by Product Type, Equipment type, Vehicle Type by Region.
Competitive Dashboard
The prominent players operating the global automotive diagnostic tool market are Softing AG (Germany), Snap on Incorporated (U.S.), AVL List GmbH (Austria), Denso Corporation (Japan), Continental AG (Germany), Actia SA (France), SPX Corp (U.S.), Robert Bosch GmbH (Germany), Kpit Technologies (India), and Hickok Incorporated (U.S.).
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Market Scenario
The global automotive diagnostic tool market is presumed to expand at 5% CAGR during the forecast period (2017-2023) owing to the growing complexity in the structure of vehicles, asserts Market Research Future (MRFR). Automotive diagnostic tools are the combination of electronic devices software and software, used as an interface with diagnostic systems in automotive. Automobiles have become complex in recent years. The role and function of the advanced electronic systems that control the car have increased substantially. High-end vehicles have become computer controlled and fully-automated. The growing concern for reducing emission from vehicles, countries are anticipated to mandate the diagnostic systems.
Drivers and Constraints Impacting the Market
The automobile industry is rapidly expanding owing to technological advancements such as the adaptive front light system. Such technologies work using components such as sensors which control the operation and functioning of such technologies. The incorporation of such technologies in the automotive has increased the complexity of the vehicles. Thus, any fault in the system is difficult to diagnose manually. With the development of diagnostic tools, rectification and diagnosis of faults have become easier. Moreover, introduction of new vehicles along with strict government mandates for reducing the emission of vehicles has led to more advanced scan tools by the manufacturers. Such factors are estimated to contribute to the growth of the market during the assessment period. Additionally, wireless diagnostic tools are anticipated to gain importance as they provide diagnostic information to the user as well as the remote diagnostic center at the same time.
On the flip side, high input cost coupled with the need to maintain a balance between smart technology and high cost by the manufacturers are some of the major concerns likely to retard the market growth in the coming years.
Global Automotive Diagnostic Tool Market: Segmental Analysis
The global automotive diagnostic tool market has been segmented on the basis of product type, equipment type, vehicle type, and region.
By mode of product type, the global automotive diagnostic tool market has been segmented into diagnostic equipment hardware, diagnostic software, automotive diagnostic scan tool technology, and repair and diagnostic data. Among these, the automotive diagnostic scan tool technology is presumed to be the predominant segment and is estimated to maintain the largest share in the coming years.
By mode of equipment type, the global automotive diagnostic tool market has been segmented into wheel alignment tester, digital battery tester, vehicle emission test system, and others. Among these, the vehicle emission test system is anticipated to exhibit the fastest growth rate due to the increasing mandates from the government regarding vehicle emission. Moreover, the continuous monitoring of vehicle emission is driving the segment.
By mode of vehicle type, the global automotive diagnostic tool market has been segmented into commercial vehicles and passenger car. Among these, the passenger car segment is presumed to be the fastest growing segment owing to the high demand for premium passenger cars and large pool of consumers for passenger cars.
Regional Insights
Geographically, the automotive diagnostic tool market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, the Asia Pacific region is estimated to register the highest growth rate in the global market. The growth is attributed to the increasing consumer preference for automobiles with advanced technologies. Strict government mandates focusing on controlling the emission levels also contribute to the market growth. Moreover, developing countries such as India, China, and Japan are highly adopting diagnosis equipment and tools which is presumed to foster the market growth in this region.
Industry Updates
November 09, 2018: OBD Solutions has recently unveiled the OBDLink MX+ which is a one-of-a-kind wireless OBD adapter that converts any iPad, iPhone, or Android device into a professional-grade diagnostic scan tool, real-time performance monitor, and trip computer which is capable of accessing manufacturer-specific vehicle data.
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