15, 2016 (GLOBE NEWSWIRE) — Research and Markets has announced the addition of the “Automotive Diagnostic Scan Tools Market by Type (Diagnostic Equipment, Diagnostic Software, Repair & diagnostic data), Workshop Equipment, Vehicle Type (PC & CV), Application, & Geography – Global Trends and Forecast to 2021″ report to their offering. The automotive diagnostic scan tools market, in terms of value, is projected to grow at a CAGR of 5.9% from 2016 to 2021. The market is estimated to be USD 5.45 Billion in 2016, and is projected to reach 7.24 Billion by 2021. The key drivers of this market are increasing consumer preference for technologically advanced automobiles and rise in demand for automotive workshops. Stringency in emission norms also promotes the growth of this market. The diagnostic scan tools, which are used in many workshops and service stations, form an integral component to detect and diagnose different functions of a vehicle. The application of such tools in the automotive industry is carried out using diagnostic equipment (hardware), diagnostic software and repair and diagnostic data. In automotive applications, the diagnostic scan tools are used to connect to the on-board electrical system for diagnosing the functions of the vehicle. The North American region is estimated to dominate the automotive diagnostic scan tools market, in terms of value, in 2016, with diagnostic equipment being a key contributor to the market in the region. The increasing demand for high-end cars and consumer preference for more accurate diagnostic mechanisms are key factors driving the growth of the automotive diagnostic scan tools market across all regions. The global diagnostic scan tool market is dominated by a few major players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K), and Snap-On Inc.
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