Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Vehicle Scanner Market size is expected to reach $4.1 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period.
The Portable segment is showcasing a CAGR of 6.8% during (2022 - 2028). The demand for this segment is being accelerated by increased demand for portable scanners at military bases and rising defense infrastructure expenditure across the globe. High efficiency and cutting-edge features are the segment's driving forces in the portable scanner category. Therefore, the demand for portable vehicle scanners is projected to be positively influenced by the portability of these scanners and a rise in demand for them on military bases.
The Under-Vehicle Scanning Systems (UVSS) segment acquired maximum revenue share in the Global Vehicle Scanner Market by Structure Type in 2021 thereby, achieving a market value of $2.5 billion by 2028. Vehicle undercarriage examination, which is a practice that helps to assure the safety of automobiles and their occupants, is carried out by under vehicle scanning systems (UVSS). This technology can detect any possible issues early on by inspecting the underneath of automobiles, trailers, and other vehicles. This enables prompt replacements or repairs to be done before minor mishaps turn into major ones.
The Government segment is leading the Global Vehicle Scanner Market by Application in 2021, thereby, achieving a market value of $2.8 billion by 2028. The government segment is growing due to increased spending on military services as well as the installation of security and safety items for border security. Cross-border security is one of the most important security challenges for every country. It is feasible to reduce the unauthorized entry of explosives as well as migrants via trucks and shipping containers by installing vehicle scanners.
The Software segment has shown the growth rate of 6.3% during (2022 - 2028). Based on their effectiveness and ability to precisely and accurately diagnose the problems or issues, different software is intended for vehicle scanning. The software is getting more user-friendly, simple to learn, and easy to use each year. Changing data codes to improve performance is one of the fundamental capabilities of computer-based scanners and diagnostic tools. Computers can simply change codes and use them as needed.
The North America market dominated the Global Vehicle Scanner Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.6 billion by 2028. The Europe market is exhibiting a CAGR of 5.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/vehicle-scanner-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Godrej & Boyce Mfg. Co. Ltd. (Godrej Security Solutions), International Road Dynamics, Inc. (WiLAN) (Quarterhill Inc.), Leidos Holdings, Inc., Gatekeeper Security, Inc. (OSI Systems, Inc.), Omnitec Group, Tescon Sicherheitssysteme AG, UVeye Ltd., Advanced Detection Technology, LLC (HWH Investments Ltd), VMI Security (Prime Holding Group), and SCANLAB GmbH (TecInvest Holding AG).
By Scanner Type
By Structure Type
Unique Offerings from KBV Research
North America Vehicle Scanner Market Future Scope & Opportunities 2022-2028
Europe Vehicle Scanner Market Size & Growth Forecast 2022-2028
Asia Pacific Vehicle Scanner Market Size, Share & Industry Outlook to 2028
LAMEA Vehicle Scanner Market Growth, Trends & Forecasts 2022-2028