The global automotive remote diagnostics market grew at a CAGR of around 13% during 2014-2019. Automotive remote diagnostics refers to an automobile system that enables the monitoring of vehicles through a wireless network. The diagnostic equipment is connected to a 3G, 4G or Wi-Fi-based platform that operates and records the data regarding vehicle health. The data is further analyzed by computer software to provide useful insights. This aids in assessing vehicle performance in real-time, minimizing the service time and preventing further failures. As a result, it is commonly used in passenger and commercial vehicles for automatic crash notification, vehicle location tracking, roadside assistance and vehicle health alert system.
Significant growth in the automotive industry represents as one of the key factors driving the growth of the market. Furthermore, increasing emphasis of original equipment manufacturers (OEMs) on the improvement of vehicle performance and collection of relevant data is also driving the market growth. The adoption of automotive remote diagnostics aids in significantly minimizing service downtime and effectively predicting component defects. In line with this, the increasing demand for electric and hybrid vehicles (E/HVs) is also contributing to the market growth. Additionally, various technological advancements, such as the integration of the Internet of Things (IoT) and telematics, are acting as other growth-inducing factors. These technologies enable users to interact with the connected car eco-systems to offer an improved and comfortable driving experience. Other factors, including the rising demand for luxury and sports vehicles, along with extensive research and development (R&D) activities on improving safety and security of the passengers, are anticipated to drive the market further. Looking forward, IMARC Group expects the global automotive remote diagnostics market to continue its strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive remote diagnostics market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, product type, connectivity, vehicle type and application.
Breakup by Product Type:
Breakup by Connectivity:
Breakup by Vehicle Type:
Breakup by Application:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Aptiv PLC (BorgWarner Inc.), AVL DiTEST GmbH (List Capital & Consulting GmbH), Continental Aktiengesellschaft, Magneti Marelli S.p.A. (KKR & Co. Inc.), Mercedes-Benz AG (Daimler AG), OnStar Corporation (General Motors Company), Robert Bosch GmbH (Robert Bosch Stiftung Gmbh), Snap-On Incorporated, Softing AG, Tech Mahindra Limited (Mahindra Group) and Vector Informatik GmbH.
The global automotive remote diagnostics market was worth around US$ 17 Billion in 2019.
According to the estimates by IMARC Group, the global automotive remote diagnostics market will exhibit strong growth during the next five years.
The rising demand for luxury and sports vehicles, along with extensive R&D activities for improving safety and security of the passengers, represent some of the key drivers for the global automotive remote diagnostics market.
The emergence of automated vehicles integrated with several advanced technologies, such as IoT and telematics, represents one of the key trends in the global automotive remote diagnostics market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous automotive facilities, thereby hampering the market for automotive remote diagnostics.
On the basis of the product type, the market has been bifurcated into diagnostic equipment and software. Among these, diagnostic equipment holds the largest market share.
On the basis of the connectivity, the market has been classified into 3G, 4G LTE, Wi-Fi, and Bluetooth. At present, Bluetooth exhibits a clear dominance in the market.
On the basis of the vehicle type, the market has been classified into passenger cars and commercial vehicles. Currently, passenger cars account for the majority of the total market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
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