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The automotive remote diagnostics market size has the potential to grow by USD 11.65 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by vehicle type (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape. It offers information on several market vendors, including AVL DiTEST GmbH, Continental AG, Delphi Technologies Plc, DENSO Corp., Eaton Corporation Plc, General Motors Co., Robert Bosch GmbH, Vector Informatik GmbH, Vidiwave Ltd., and ZF Friedrichshafen AG.
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The automotive remote diagnostics market is fragmented. AVL DiTEST GmbH, Continental AG, and Delphi Technologies Plc are some of the major market participants. The majority of the key vendors are working to deploy several fleet management solutions to create differentiated product offerings in the commercial vehicles segment, which will provide them with a significant competitive edge. Although the rise in sales of hybrid and electric vehicles will offer immense growth opportunities, the complexity in telematics software design and standardization concerns will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this automotive remote diagnostics market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and provides information on the products offered by various companies. Moreover, this automotive remote diagnostics market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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North America was the largest automotive remote diagnostics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The implementation of onboard diagnostics by the US government from the 1990s and will significantly drive automotive remote diagnostics market growth in this region over the forecast period.
37% of the market's growth will originate from North America during the forecast period. The US is one of the key markets for automotive remote diagnostics in North America. Market growth in this region will be slower than the growth of the market in APAC, South America, and MEA.
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The introduction of connected car offerings in the luxury vehicle segment helped remote vehicle diagnostics to have the maximum penetration in this segment. The high-end passenger car segment saw a significant increase in the uptake of remote diagnostics in the late 2000s. These factors are contributing to the substantial growth in the passengers cars segment in the automotive remote diagnostics market.
The automotive remote diagnostics market share growth by the passenger cars segment will be faster than the growth of the market by the commercial vehicles segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive remote diagnostics market size.
The rise in sales of hybrid and electric vehicles will be one of the major factors that will have a positive impact on the automotive remote diagnostics market growth. The rise in electric vehicle production drives the growth of the remote diagnostics market as many vehicle manufacturers are implementing remote diagnostics as a business model and is also a distinguishing factor in the competitive market. Remote vehicle diagnostics is a crucial telematics application, and the devices using these solutions use onboard diagnostics systems to detect unsafe driving behaviors, track fuel efficiency, and track fleet mechanisms. Moreover, remote diagnostics systems are robust and offer a lot of data and information about engines and transmissions. These systems help in cutting down fuel emissions and exhaust tailpipe emissions by ensuring efficient engine operation. Also, onboard diagnostics systems can detect any malfunction in engines. These advantages will lead to the rise in the adoption of remote diagnostics in the hybrid and electric vehicles during the forecast period.
The rising smartphone penetration and the growing use of vehicle telematics is one of the critical automotive remote diagnostics trends that will contribute to the market growth in the forthcoming years. The use of telematics technology in mobile phones for the connected vehicle service offerings is on the rise over the years in the vehicle segment. The advantages of these improved technologies are likely to drive the use of these connected car offerings. Although mobile phones cannot replace a complete telematics package, but can provide many telematics services. The mobile phone of the driver can be configured for the telematics hardware to transmit diagnostic information. The vehicle diagnostics market is a fast-growing trend in the telematics application market using mobile apps with OBD devices or dongles. The market will register a CAGR of over 11% by 2024.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Vehicle Type
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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