Automotive diagnostic tools market is anticipated to grow at a significant CAGR of 5.6% during the forecast period. One of the key factors fuelling the market includes the rising technological advancement in the automobile industry. Vehicle making has become gradually complex with more applications of technologies such as advanced driver assistance systems (ADAS) and electronic control modules.
Such development has raised a lot of technical challenges in the diagnosis process for regular end-users. Hence, the automotive diagnostic tools with the provision of standard fault codes and other services offer a simple interface to customers for concluding the actual issues with the vehicle and avoid unnecessary workshop repair which can make minor problems expensive.
This has resolved a lot of repairing issues in the service and manufacturing department which is reflected in the rising demand and development in the market. For instance, in March 2021, Robert Bosch GmbH launched ADS 625 X which does DTC scans of all systems within 60 seconds on average, while complete scans take 30 seconds or less. The scan tool offers technicians advanced vehicle coverage across a broad range of domestic, European, and Asian vehicles.
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by Type (On-Board Diagnostics (OBD), Electric System Analyzer, and Scan Tool),
by Product Type (Diagnostic Equipment/Hardware, and Diagnostic Software), and
by Vehicle Type (Passenger Vehicles, and Commercial Vehicles)
Market Players Outlook
The major companies serving the global automotive diagnostic tools market include Bosch Automotive Service Solutions, Inc., Continental Automotive GmbH, Delphi Powertrain Systems Operations Luxembourg S. à r.l., DENSO Corp., Snap-on Inc. group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, Delphi Technologies extended its diagnostic portfolio with an innovative, easy for using diagnostic tool offering service centers with an extensive suite of real-world data, diagnostic interrogations, and others.
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The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global automotive diagnostic tools market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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