Chemical Research Report Diagnostic-Scan-Tools-Market

Diagnostic Scan Tool Market - Size,
Share, Outlook, and Opportunity
Analysis, 2018 - 2026
The diagnostic scan tools market was valued at US$ 463.1 million in 2016 and is projected to reach
US$ 720.3 million by 2025, exhibiting a CAGR of 5.02% over the forecast period
Diagnostic Scan systems are electronic tools programmed to find significant applications as an
interface to diagnose problems or malfunctioning of any operations in an automobile. These
tools enable in upgrading and reprograming of the vehicles control module. On the basis of
technology, these products include, handheld, mobile device/pc/laptop based scan tools, data
loggers, emission testing, vehicle telematics, and supplementary vehicle instrumentation.
According to International Organization of Motor Vehicle Manufacturers (OICA) data, the
number of vehicles in use have witnessed an increase of over 3.7% CAGR over the term of
2005 to 2015, pegged at over 1.28 billion vehicles in 2015. Moreover, according to the
organizations sales data, average sales of the vehicles has witnessed CAGR of over 3.2% over
the period of 2006 to 2016, accounting for around 93.9 million vehicle sales in 2016. Growth in
the vehicles in use and sales is expected to lead to increasing demand for automotive
maintenance and services in the near future. Moreover, in order to reduce time and effort for
detection, maintenance, and repair of automobiles is a factor expected to fuel growth of the
global diagnostic scan tools market over the forecast period.
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High growth rate of vehicle per thousand inhabitants coupled with limited number of
authorized service centers and workshops have in turn led to significant demand for do-it-
yourself kits