Automotive Diagnostic Scan Tools Market Trends

Growth Drivers

• Growing Number of Cars with Rising Spending Capacity of People – and a surge in the use of automotive diagnostic scan tools to quickly and accurately identify problems in a car so that car repair times can be greatly reduced, is expected to boost the automotive diagnostic scan market in the projected period. As it will help reduce labor costs with cars spending less time in the garage and off the road. It was found that there are approximately 1.4 billion cars across the globe as of 2022.
• Rising Use of Handheld Car Diagnostic Tools Owing to Increasing Complexity of Vehicles – a car-diagnostic test can cost between USD 50 to 400 depending on the region.
• Increasing Greenhouse Gas Emissions with the Rising Number of Vehicles – it was found that the transport sector was responsible for over 25% of greenhouse gas emissions in 2020.
• Upsurge in the Sale of Commercial Vehicles Owing to The Rising Automotive Sector – in 2021, which was estimated to reach around 12 million in the United States.
• Rising Adoption of USB Connectivity Among the World Population – The global adoption of USD ports raised from over 405 in 207 to 100% in 2021.

Challenges

• Lack of Awareness Regarding the Usability of Automotive Tools and Technologies
• High Cost of Technology Advancements
• The newly developed technologies need sophisticated tools to maintain and handle, which many workshops cannot afford. Also, the new technologies are so expensive compared to conventional systems in the market. The high cost of R&D activities reduces investment opportunities decreasing the chances of a new product launch. These factors hinder the market growth during the forecast period.
• Lacks the Ability to Fully Reprogram Some of the Vehicle Modules