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.
Get Free Sample link @ https://www.omrglobal.com/request-sample/automotive-diagnostic-tools-market
Among the vehicle type, the passenger vehicle segment is anticipated to hold a prominent share in the market owing to the increasing demand for high-tech features in passenger vehicles across the globe. The demand for high-end features has grown exponentially in the passenger vehicle section globally, which has contributed to the high growth in the sales of passenger vehicles. As per the sales report of Organisation Internationale des Constructeurs d’Automobiles (OICA), around 56.4 million passenger cars sold in 2021. With such high sales, the workload on service centers has also grown significantly which propels the adoption of more diagnostic tools to enhance work performance. Due to such benefits, key market players are also inclined toward launching new products and concentrating on upgrading their portfolio to strengthen t customer base. For instance, in March 2021, Bosch extended its next generation of advanced automotive diagnostic tool portfolio with its new addition, ADS 625X which included a multipurpose docking station that charges the tablet and powers the VCI, offering seamless wireless updates and access for repairing information without needing to be connected to the vehicle.
full report of Automotive Diagnostic Tools Market available @ https://www.omrglobal.com/industry-reports/automotive-diagnostic-tools-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Diagnostic Tools Market Report Segment
By Type
- On-Board Diagnostics (OBD)
- Electric System Analyzer
- Scan Tool
By Product type
- Diagnostic Equipment/Hardware
- Diagnostic Software
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Global Automotive Diagnostic Tools Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- 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.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/automotive-diagnostic-tools-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
