The key players in the automotive diagnostic scan tools market are identified as Bosch-SPX (Germany), Actia Group (France), Snap-On Inc. (U.S.), Softing AG (Germany), and Denso Corp. (Japan)
(PRWEB) December 24, 2013
The report, “Automotive Diagnostic Scan Tools Market by Geography (U.S., Europe, Asia-Pacific & ROW) & Product Type (Diagnostic Equipment, Diagnostic Software, & Repair & Diagnostic Data) - Industry Trends & Forecast To 2018”, defines and segments the U.S. and European Automotive Diagnostic Scan Tools Market with analysis and forecasting of their respective values. The U.S. market for automotive diagnostic scan tools is estimated to reach a value of $1.8 billion in 2018, whereas the European market is expected to grow to $1.9 billion in 2018.
Browse 6 market data tables and 34 figures spread through 151 pages and in-depth TOC on “Automotive Diagnostic Scan Tools Market - Industry Trends & Forecast to 2018”.
Early buyers will receive 10% customization on this report.
U.S. - Closing the Gap at a Faster Pace
In recent times, Europe was the largest market for automotive diagnostic scan tools due to its large vehicle fleet equipped with complex electrical/electronic systems and the number of new vehicle models launched annually. This has increased the development of more advanced diagnostic scan tools which can diagnose faults in more than 40,000 vehicle models. Slowly, the gap between the European and U.S. markets has reduced in the last few years due to the increasing vehicle registrations, stringent emission norms, increased fuel efficiency standards, and advanced technologies equipped in the vehicles. All these factors call for the increased growth in the diagnostic scan tools market in the U.S. By 2018, it is estimated that U.S. would be very much near the European market in terms of value. The market in Europe is expected to grow at a CAGR of 5.23% over the period from 2013 to 2018, whereas U.S. would grow at a CAGR of 5.75%.
Diagnostic Software - To Show High Growth Potential
The automotive diagnostic scan tools market in U.S. and Europe is dominated by the diagnostic equipment product type, followed by diagnostic software and repair & diagnostic data. In terms of growth rate, the market for diagnostic software is expected to show high CAGR of 8.51% in the next five years. This can be attributed to the increasing number of new vehicle models launched every year, the type of electronics present in the vehicles, and the increasing number of software updates rolled out every year.
The report covers the independent aftermarket for the automotive diagnostic scan tools in terms of value ($million) across regions such as U.S. and Europe. The report also highlights few qualitative trends identifying the future prospects in the Asia-Pacific and Rest of the World (ROW) markets. It explains the qualitative aspects of automotive diagnostic scan tools with respect to technology and advancements over the course of time. Apart from geographic segments, the U.S. and European markets are also segmented by product type (Diagnostic Equipment, Diagnostic Software, and Repair & Diagnostic Data).
This report also shows an overview of the technological aspects of the OBD II in automotive diagnostics. It also covers the value chain, Porter’s five forces analysis, competitive landscape, and company profiles for major players in the market for automotive diagnostic scan tools.
Browse related reports
Driver Assistance Systems Market by Types [Adaptive Cruise Control (ACC), Lane Departure Warning (LDWS), Park Assist, Drowsiness Monitor, Blind Spot Detection (BSD), Night Vision, Tire Pressure Monitoring (TPMS), Adaptive Front Lighting], by Technology [Ultrasonic, Image, RADAR, LIDAR, Infrared (IR)] & Geography - Global Trends and Forecast to 2018
Variable Valve Timing Market (Cam phasing, Variable Valve Actuation (VVA)) & Start-Stop Systems (Direct Starter, Enhanced Starter, Belt-driven Alternator Starter (BAS), Integrated Starter Generator (ISG)) Market - Global Trends & Forecast by Technology & Geography to 2018
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Visit MarketsandMarkets Blog at http://mnmblog.org/market-research/automotive-transportation.
Connect with us on LinkedIn at http://www.linkedin.com/company/marketsandmarkets.