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APAC automotive diagnostic scan tools market to garner substantial revenues by 2025
Automotive diagnostic scan tools market share is gaining immense traction owing to integration of modern electronic components and various innovative scanning devices being introduced for different purposes. With the advent of technological advancements and supportive policies to curb emissions, maintaining vehicle performance and ensuring maximum fuel efficiency has become more important than before. Car manufacturers, dealers, and suppliers are looking to add more electrical systems in vehicles to boost connectivity and ease performance adjustment, offering notable prospects for automotive diagnostic scan tools industry players.
Canada Automotive Diagnostic Scan Tools Market Revenue, By Vehicle Type, 2018 & 2025 (USD Million)
Major automakers have incorporated a vast amount of technologies into their products due to the shifting preferences of consumers from manual functions to hi-tech automated systems. Such transformations will ultimately advance automotive diagnostic methods for easily identifying problems and provide easy to operate interface to the consumers. More than 95.6 million vehicles had been produced in 2018 worldwide and the tremendous population of vehicles on road today will ensure consistent demand for automotive diagnostic scan tools industry over the years to come.
Today’s automobiles represent the most sophisticated electronic control units that are responsible for functions like infotainment control, automatic gear shifts and fuel injection. ECUs are also enabling advanced driver assistance technologies that meet consumer needs for convenience, comfort, and safety as well as improve performance and energy efficiency. Adoption of these technologies makes diagnosis of system failures or malfunction more difficult. Addressing these challenges, OEMs as well as their hardware and software partners will consistently seek developments in ECU diagnosis solutions, propelling automotive diagnostic scan tools market size.
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Over the past decade, the transportation sector has changed considerably owing to social trends, various converging market forces, and quick availability of auto and business finance. Apparently, the most transformative process which holds the potential to revamp the experiences for transport agencies and commuters is the inception of the Mobility-as-a-Service (MaaS). Automotive diagnostic scan tools will become a vital part of every-day operations of mobility providers as increasing penetration of MaaS is boosting the demand for commercial vehicles, which in turn will escalate diagnostic requirements.
Increasing potential for diagnostic tools can be understood from the fact that a developing country like India is anticipated to be a frontrunner in shared mobility by 2030. It projected that shared miles in the country will account for 35% of all the miles travelled in India and will further rise to 50% by 2040. Increase of shared mobility simultaneously gives rise to vehicle sales and strong customer demand for self-driving taxis in low-density locations. This network will open up a huge market for professional and DIY diagnostic scan tools, augmenting the regional industry trends.
Asia Pacific automotive diagnostic scan tools industry size is slated to witness a CAGR of around 8% over the projected period. The automotive manufacturing sector in the region is growing rapidly owing to an active push towards infrastructural development and growing industrialization, which has created plethora of opportunities for automobile OEMs. In addition, local OEMs are thriving with their in-depth understanding of regional consumers. Strategic advantages could certainly influence the ability of OEMs to place vital diagnostic solutions across dealerships, reinforcing automotive diagnostic scan tools market outlook over the forecast period.
The Bosch Group and Byton, an electric vehicle developer, had signed a strategic cooperation agreement in 2018 which was fully focused on driver assistance systems, braking systems, and powertrain technology. This partnership aimed to provide safe and steadfast electric mobility solutions to the consumers. Indeed, such collaborations will certainly benefit enterprises and represent the opportunities for automotive diagnostic scan tools industry from electric vehicle applications in the future.
Several prominent companies and manufacturers are augmenting the scope of their business by unveiling unique product portfolios equipped with the latest technologies. DG Technologies, Actia Group, Snap-on Incorporated, General Technologies Corp, Autel Intelligent Technology, BMW, Bosch Automotive Service Solutions, Delphi Automotive, Volkswagen and Volvo Group are some of the key players operating in the industry. Global Market Insights, Inc. has projected that automotive diagnostic scan tools market size will reach USD $49 billion by 2025.
Author Name : Deeksha Pant
X-ray security screening system market to garner remarkable proceeds from the government sector, massive demand for border protection to impel the industry landscape over 2017-2024
Given the increasing number of terrorist & anti-social activities across the globe, it is no surprise that X-ray security screening system market has been gathering rapid momentum in recent years. Legal authorities no longer consider it safe to permit luggage or cargo remain unchecked through transit areas or highly populated commercial spaces like malls or movie theaters, as terrorist attacks have time and again demonstrated that arms can be easily transported across vulnerable points. On these grounds, X-ray security screening system industry is gaining massive popularity, as contraband items like drugs, weapons, and astonishingly, even humans are being illegally transported across borders, which undeniably requires to be halted in order to ensure safety and protection across the country.
China x-ray security screening system market size, by end-use, 2016 & 2024 (USD Million)
Post the 9/11 attacks in the US, legal authorities have come to recognize terrorist attacks in a new light, that has led to the revamping of transit security to unprecedented levels, impelling X-ray security screening system market share. With the reinforcement of security conditions, especially at vulnerable areas such as airports, X-ray security screening system market size has indeed depicted a major rise. To ensure that products such as knives, explosives, guns, scissors, ropes, etc., (effectively banned from being carried on airplanes), are not actually crossing the safety borders, novel technology is being developed for scanning luggage in the most effective manner to easily detect these objects in bags and suitcases, thereby providing an impetus to X-ray security screening system industry players. The advancements across X-ray security screening system market has had a profound impact on global airport security industry as well, considering that airports seem to be the soft targets for terrorist attacks.
It is imperative to note that organic and inorganic substances are facilitated to be detected separately in X-ray security screening systems, as most explosives are organic. On the other hand, X-ray images of such contraband objects can clearly point them out to airport security staff who can then take necessary steps to assure the security of other passengers. Many airports are also employing full body X-ray scanning of passengers to detect weapons or banned objects being carried on the person, thus adding another growth dimension to X-ray security screening system market.
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It has been observed that security measures have also been strengthened in malls, places of worship, museums, movie theatres, and other places that attract a large number of people together in enclosed spaces, given that terrorists often use civilian crowds as soft targets. On these grounds, it is imperative to state that X-ray security screening system industry has received a significant boost from myriad public places that have consolidated their security systems, especially at the entryways, where baggage is scrutinized under X-rays to identify harmful and illegal objects.
Security threats are indeed prevalent across the globe, however, since international trade activities cannot be hampered due to the same, X-ray security checks are being heavily reinforced to scrutinize cargos and other goods for the protection of human lives and property. Thus, X-ray security screening system market share is projected to witness commendable growth with government and security authorities identifying locations that pose major security risks and subsequently deploying of X-ray systems to safeguard these locations against human trafficking, drugs and weapons transport, and other illegal activities.
Despite the best of efforts undertaken by security personnel and modern technologies, security systems have often failed to detect bombs and other weapons – an observation that is potentially encouraging X-ray security screening system industry players to concentrate on research and development programs that will make security checks even more detailed and precise. X-ray security screening system market firms have also been focusing on enhancing the functionality of X-ray security screening systems to reduce detection time, helping passengers to avoid the hassle of transit security checks. In essence, subject to the protection and convenience offered by X-ray scans and the robust demand for national security, X-ray security screening system market outlook is likely to witness a major transformation over 2017-2024.
Author Name : Paroma Bhattacharya
Global Market Insights Inc. 