CHICAGO, August 6, 2015 /PRNewswire/ --
The report "Automotive Diagnostic Scan Tools Market by Product Type (Diagnostic Equipment, Diagnostic Software, and Repair & Diagnostic Data), Application (Passenger Car, Commercial Vehicle), & by Region (Europe, North America, Asia-Pacific, RoW) - Forecast to 2020" published by MarketsandMarkets, The global Automotive Diagnostic Scan Tools Market is estimated to grow at a CAGR of 5.6% from 2015 to 2020, growing from USD 3.83 Billion in 2015 to USD 5.02 Billion by 2020.
Browse 71 Tables and 51 Figures spread through 177 Pages and in-depth TOC on "Automotive Diagnostic Scan Tools Market"
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The market report classifies and defines the Automotive Diagnostic Scan Tools Market in terms of value and volume. The report highlights potential growth opportunities in the coming years as well as offers a review of the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to the Automotive Diagnostic Scan Tools Market. It identifies the key market trends for new technologies and their adoption scenario for the next five years. It also focuses on key market players and their strategies, along with recent developments.
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Europe: High Volume Market
The European region comprises developed countries, such as Germany, France, the U.K., and Italy. Customer demand for improved, accurate, and quick diagnosing tools is driving the Automotive Diagnostic Scan Tools Market. Fully touch screen and automated diagnose tools are being adopted in developed countries of Europe such as Germany. Manufacturers such as Robert Bosch GMBH (Germany), Delphi Automotive PLC (U.K.), and Actia Automotive (France) are some of the dominant players in this region that are expected to drive the development in the Automotive Diagnostic Scan Tools Market.
Diagnostic Software: To show high growth potential
The global automotive diagnostic software market is expected to grow at a high CAGR of 7.5% during the next five years, given the increasing number of software updates coupled with the rising number of new vehicle models every year. However, the automotive diagnostic software market of Asia-Pacific is expected to show high growth in the next five years followed by North America and Europe. This can be attributed to the growing number of vehicle workshops with the increasing vehicle population in the Asia-Pacific region.
The market is further estimated to grow with the rising population of cars after the economic downturn. The market in Europe is projected to witness a higher growth for diagnostic software rather than diagnostic equipment, similar trend is seen in North America, Asia-Pacific, and RoW regions, where market is estimated to favor high growth for diagnostic software over diagnostic equipment segments.
This report also covers technical aspects of diagnostic scan tools with respect to technology and its adoption by different OEMs across the globe. It includes a PESTLE analysis, value chain analysis, Porter's Five Forces analysis, the competitive landscape, product life cycle, pricing trends of diagnostic scan tool, and company profiles of 10 key players of the Automotive Diagnostic Scan Tools Market.
Europe and North America are key markets with a number of diagnostic scan tools manufacturers such as Robert Bosch GMBH (Germany), ACTIA (France), and Noregon (U.S.).
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