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According to the latest report by IMARC Group, titled “Automotive Remote Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global automotive remote diagnostics market size reached a US$ 10 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.4 Billion by 2027, exhibiting a CAGR of 17% during 2022-2027.
Automotive Remote Diagnostics Industry Definition and Application:
Automotive remote diagnostics is a system in automobiles that facilitates the monitoring of vehicles through a wireless network. It records and analyzes data related to the efficiency of a vehicle using 3G, 4G, or Wi-Fi-based connectivity. This data is then examined by computer software to provide useful information about vehicular performance in real-time, prevent failures, reduce service time, etc. As a result, automotive remote diagnostics is extensively employed in passenger and commercial vehicles for vehicle location tracking, roadside assistance, operation monitoring, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Automotive Remote Diagnostics Market Trends and Drivers:
The expanding automotive industry across the globe is one of the key factors driving the automotive remote diagnostics market. Moreover, the increasing emphasis on enhancing vehicular performance by original equipment manufacturers (OEMs) is further catalyzing the market growth. Besides this, the rising popularity of electric and hybrid vehicles (E/HVs), which often have pre-installed advanced automotive software and features that enable users to interact with the connected car ecosystems, is acting as another significant growth-inducing factor. Furthermore, the integration of these solutions with the Internet of Things (IoT), cloud computing, and telematics is also augmenting the global market. Apart from this, the escalating demand for luxury and sports vehicles is expected to fuel the automotive remote diagnostics market over the forecasted period.
Automotive Remote Diagnostics Market 2022-2027 Analysis and Segmentation:
Our report has categorized the market based on region, product type, connectivity, vehicle type and application.
Breakup by Product Type:
Diagnostic Equipment
Software
Breakup by Connectivity:
3G
4G LTE
Wi-Fi
Bluetooth
Breakup by Vehicle Type:
Passenger Cars
Commercial Vehicles
Breakup by Application:
Automatic Crash Notification
Vehicle Tracking
Vehicle Health Alert
Roadside Assistance
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
Competitive Landscape Key Player:
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)
Vector Informatik GmbH
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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