Global Automotive Remote Diagnostics Market to Witness Exponential Growth in Coming Years
Market Research Future (MRFR) estimates that the global market for automotive remote diagnostics, which is expected to develop at a 15% CAGR over the projected period, is poised to reach exponential value by 2030. (2022 – 2030). The global expansion of the automotive industry has a favourable effect on market expansion. Manufacturers make large efforts to enhance product quality and lower warranty costs, which promotes market expansion and boosts aftermarket and OEM sales.
The automotive remote diagnostics market is growing rapidly. Market growth attributes to the increasing adoption and implementation of connected services across vehicle applications. Besides, rising sales of luxury and commercial vehicles across the world create huge market demand. Stringent regulations by the Commercial Vehicle Safety Alliance (CVSA) play a causal role in the growth of the market. Moreover, the increasing demand from the OEM and aftermarket sectors escalates market sales.
Additionally, the increasing economic growth worldwide, boost the size of the automotive remote diagnostics market. Simultaneously, growing concerns regarding vehicle performance and rising product developments especially designed for commercial vehicles aimed to enhance safety, efficiency, and connectivity, substantiate the market growth. Besides, spurting growth in segments such as automatic crash notification, vehicle tracking, vehicle health alert, and roadside assistance push the market growth.
Global Automotive Remote Diagnostics Market – Segmentation
The report is segmented into five dynamics;
By Product Type: Equipment Diagnostic (electronic control unit, GPS modules, LED, GSM antenna, microcontrollers, GPS antenna, storage system, sensors, the CAN (Controller Area Network), car bus interface, others) and Software Diagnostic.
By Connectivity : 3G, 4G LTE, Wi-Fi, and Bluetooth (the CAN-Bluetooth module, electronic control unit (ECU), OBD interface (CAN bus).
By Vehicle Type : Passenger Car and Commercial Vehicles.
By Application : Vehicle Tracking, Automatic Crash Notification, Vehicle Health Alert, Roadside Assistance, and others.
By Regions : Europe, North America, Asia Pacific, and Rest-of-the-World.
Global Automotive Remote Diagnostics Market – Regional Analysis
North America dominates the global automotive remote diagnostics market. The largest market share attributes to the increasing adoption and implementation of connected services across vehicle applications. Besides, the presence of a large number of automakers and OEMs in the region drives the growth of the market. Moreover, substantial investments to incorporate remote diagnostics to reduce maintenance & service downtime in vehicles by notable OEMs such as Daimler Trucks and Volvo Trucks influence the regional market growth.
Europe region is another lucrative market for automotive remote diagnostics. The market is especially driven by the presence of the well established automotive industry in the region. Moreover, innovation in the ICT segment is referred to as a key growth driver for the growth in this region. Substantial investments by the existing major industry players in R & D activities required for product and technology developments fuel the demand in the automotive remote diagnostics market.
Asia Pacific also holds a substantial share in the global automotive remote diagnostics market. Factors such as the spurring demand from the automotive sector in the region fuel the sales in the market. Rising technological advancements in remote diagnostics systems and the burgeoning automotive industry in the region foster the growth of the market. Furthermore, increased R&D activities and the rapid economic growth in the region propel market growth. The APAC automotive remote diagnostics market is estimated to grow at a significant pace during the assessment period.
Global Automotive Remote Diagnostics Market – Competitive Analysis
Highly competitive, the automotive remote diagnostics market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players adopt mergers & acquisitions, collaboration, expansion, and product/ technology launch. They focus on new technology development initiatives and geographical expansion.
Manufacturers employ a number of technologies to deliver OE diagnostic capabilities, flash programming, support, and pre/post scanning to aftermarket mechanical and collision industry. Several techniques have been invented that can allow these players to increase brand coverage and speed to help customers.
Automotive Remote Diagnostics Major Players:
Players leading the global automotive remote diagnostics market include Continental AG (Germany), Robert Bosch GmbH (Germany), Delphi Technologies (UK), Tech Mahindra Limited (India), Onstar LLC (US), Magneti Marelli S.p.A. (Italy), Softing AG (Germany), Snap-on Incorporated (US), Vidiwave Ltd (UK), Otonomo (Israel), Vector Informatik GmbH (Germany), and DSA Daten- und Systemtechnik GmbH (Germany), among others.
Industry/ Innovation/ Related News
August 03, 2020 —– Opus IVS (the US), a leading automotive technology company, announced receiving the patent 10,719,813 for its pass-thru remote diagnostic system. The innovation would allow a technician to diagnose a vehicle using J2534 and other standards remotely. Opus IVS is the intelligent vehicle support section of the Opus Group. This system was created by Bluelink, which was acquired by Opus IVS in 2019 with a patent priority date of September 2010.
The patented technology developed by Bluelink has continually been utilized by Opus IVS to deliver diagnostic repair guidance and programming services remotely from seven call centers with over 100 expert technicians.
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