From GlobeNewswire: 2024-07-30 09:00:00

The Global Automotive Diagnostic Scan Tools Market is projected to grow from USD 34.25 billion in 2023 to USD 64.42 billion by 2033, with a CAGR of 6.52%. These electronic tools help in vehicle diagnosis, reprogramming, and detecting electronic system issues. The market is driven by AI integration for more accurate repairs, real-time information, and predictive maintenance. However, high costs hinder widespread consumer adoption.

The diagnostic equipment/hardware segment is expected to dominate the market, offering physical instruments to assess various automotive hardware components. Wi-Fi connectivity is projected to grow at the fastest CAGR, providing wireless communication for mechanics and vehicle owners. Passenger cars are set to hold a significant share due to increased consumer demand driven by economic growth and globalization.

Asia Pacific is forecasted to lead the automotive diagnostic scan tools market, with major global OEMs entering the region through joint ventures and technological advancements. Europe is anticipated to witness the fastest CAGR growth, driven by security concerns and the complexity of connected cars. Key players in the market include ACTIA Group, Snap-on Incorporated, Softing AG, and Robert Bosch GmbH among others.

Recent developments include Launch Tech USA adding Nissan Security Gateway support to their diagnostic scan products, enhancing their suite of tools. This study forecasts revenue globally, regionally, and by segment from 2020 to 2033. Spherical Insights offers market segmentation based on offering, connectivity, vehicle type, and region. For more information and to stay updated on relevant market trends, discounts, and related reports, visit the Spherical Insights website or contact them through phone or email.



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