The global automotive diagnostic tool market is poised to register a notable growth at 5% CAGR over the assessment period (2017-2023). Automotive diagnostics is the self-diagnostic and reporting capability of a vehicle that provides access to the repair technician or vehicle owner about the status of the numerous vehicle subsystems. It is basically a combination of electronic devices software and software that are being utilized as an interface with diagnostic systems in an automotive.
There are ample factors that is boosting the growth of the automotive diagnostic tool market. These factors as stated by the Market Research Future (MRFR) report include gradual boost in service station, electrification of vehicles, growing complexity in connected vehicles, growing security concerns amid end-users and strict emission norms. The additional factors which are fueling the market growth include escalating intrusion of electronics, rise in need for automotive workshops, constant technological advancements namely adaptive front lighting system and collaboration of OEMs with key players of automotive diagnostic tools. On the contrary, complexities involved in the diagnostic tools’ functioning, soaring input costs of automotive diagnostic tools and the growing need to maintain a balance amid the smart technology and high cost by the manufacturers are factors that may impede the growth of the automotive diagnostic tool market over the assessment period.
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MRFR report offers a wide segmental analysis of the automotive diagnostic tool market on the basis of product type, equipment type, and vehicle type.
Based on product type, the automotive diagnostic tool market is segmented into repair and diagnostic data, automotive diagnostic scan tool technology, diagnostic software and diagnostic equipment (hardware). Of these, the diagnostic software segment will have the largest share in the market over the assessment period. This growth is driven by an array of factors such as increase in software updates that is adopted via automotive service stations, use of various electronic components and increase in new automobile production.
Based on equipment type, the automotive diagnostic tool market is segmented into vehicle emission test system, digital battery tester, wheel alignment tester and others. Of these, the vehicle emission test system segment is predicted to dominate the market over the assessment period. This is owing to increase in the strict norms laid down by the government concerning vehicle emissions.
Based on vehicle type, the automotive diagnostic tool market is segmented into commercial vehicles and passenger car. Of these, the passenger car segment will lead the market over the assessment period. This is on account of increasing demand for premium passenger cars coupled with huge pool of customers for passenger cars.
By region, the automotive diagnostic tool market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, the APAC region will account for the largest share in the market over the assessment period. This is owing to the increase in consumers preference for automobiles along with advanced technology. The strict standards laid down by the government that lay emphasis to control the level of emission from vehicles will also add to the growth of the market in this region. The developing countries especially Japan, China and India are highly prone to make the most of the easy to use and advanced diagnosis tools and equipment that again will propel the market growth over the assessment period.
Leading players profiled in the automotive diagnostic tool market include Kpit Technologies (India), AVL List GmbH (Austria), Snap on Incorporated (U.S.), Actia SA (France), Hickok Incorporated (U.S.), Softing AG (Germany), SPX Corp (U.S.), Denso Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany) and others.
May 2019- asTech has finally announced the news of signing an agreement that will provide calibration and vehicle diagnostic services to Fix Auto organization in the US. With the help of this partnership, the Fix Auto USA franchise locations can use asTech as the approved vendor for offering insurance partners and customers calibration services and vehicle electronics diagnostic services for both pre-repair as well as post-repair conditions.
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