The remote diagnostics market, related to automotive, is estimated to grow, due to rising concerns regarding maintenance downtime in automotive vehicles.
Remote Diagnostic Market
The global auto industry is developing tremendously towards automation, smart mobility, and with this transition, demands for remote diagnostics market is estimated to experience healthy growth over the stipulated period. The remote diagnostics market, related to automotive, is estimated to grow, due to rising concerns regarding maintenance downtime in automotive vehicles. The ultimate growth of the automotive industry, coupled with growing IoT (Internet of Things) adoption in vehicles, and connected car eco-systems, is anticipated to lead a surge in the demand for automotive remote diagnostics. With aid of the remote diagnostics systems, total time and cost spent during maintenance too have reduced significantly, eventually helping in the growth of demand for remote diagnostics market. However there are some drawbacks of this, the hardware costs are higher for remote vehicle diagnostic systems. Nothing like a mobile telematics solution or smartphone, these systems require the production and distribution of a physical device. Only newly manufactured vehicles are guaranteed to have an OBD-II port. As we all know, there are many older vehicles on the road today and this limits the appeal of the remote vehicle diagnostic solution.
The outbreak of COVID-19 has greatly impacted production activities across various industries, and the automotive industry wasn’t an exception. The lockdowns carry out by the governments in most countries have led to in the halting of business operations, which has postponed the production of the vehicles. The closing of all the business operations to prevent the spread had hindered the growth of the market. China is the leading hub for the production of auto parts. The spread of the pandemic from china has restricted the export of the raw materials to other countries, which is impacting production activities globally and thereby hampering the growth of the market. Additionally, restrictions on the movement of passenger cars across the globe are also adversely affecting the demand for automotive diagnostic systems.
The global remote diagnostic market is anticipated tremendously in near future over the forecast period. Rise in penetration of the internet in the logistic industry, growing demand for electrical systems in vehicles, and increase in awareness on the topic of emission standards among the consumers are the major factors that are predominantly driving the growth of the global remote diagnostic market. Also, Most of the OEMs (Original Equipment Manufacturer) have a system that enables the fleet to monitor the health of the truck. Moreover, enormous investments are being made by private organizations and government in remote diagnostics as they bridge distances, bridge communication barriers, and improves decision making. Most of the fleets usually are operating over a huge geographical territory. If any concern pop-ups out of the home area, the remote diagnostic helps the manager to look into an actual unit even though it is miles away.
Furthermore, as the owner knows what exactly is wrong with the vehicle, allowing the owner to make quick decisions regarding the resources required to speed up the process of the repair. As a result, remote diagnostics is enormously adopted by the transport sector leading to the growth of the global remote diagnostics market. Additionally, the rising demand for passenger vehicles, the rise in adoption of hybrid vehicles, and the application of the remote diagnostic to give crash notification are also the factors responsible for the growth of the global market.
Based on Connectivity Segment Model Bluetooth technology is projected to hold the largest share in the remote diagnostics market, by connectivity and is anticipated to continue during the forecast period. Now a days the Bluetooth technology is predominantly used to enable in-car connectivity between a vehicles dashboard and electronic gadgets such as laptops, smartphones, and tablets. The increasing demand from end-users to incorporate smart phone features such as diagnostics, navigation, and infotainment inside the vehicle, Bluetooth technology has become a vital feature in vehicles and is anticipated to boost the growth of Remote Diagnostic Market in near future over the forecast period.
Based on the Application Segment, the remote diagnostics market is expected to be dominated by the roadside assistance segment, which is projected to be the largest market, in terms of volume, during the forecast period. The increasing demand for roadside assistance as a standard feature in vehicles is anticipated to grow the global market over the forecast period
The market for applications such as assistance at the time of a vehicle breakdown, emergency support, and sending a mechanic in case of critical failure is witnessing substantial growth, with regulatory bodies planning to obligation some of the applications. Also, the ability of monitoring the speed of vehicle to check if the vehicle exceeds the specified speed limit instantly is also a factor responsible for growth of the segment. An additional, one more feature is monitoring every move the vehicle by graphically plotting the vehicle’s path on Google earth, or on the user’s own map if available is also the factor responsible for the growth of the segment leading to further growth in Global Remote Diagnostic Market in near future over the forecast period.
North America is projected to dominate the global remote diagnostic market during the forecast period. This is owing to the emerging market players, growing demand for electric vehicles. Also, increasing in the spending power of population and rise in adoption of technology is anticipated to grow the market in near future. Moreover, the heavy investments made by the manufacturers in the R&D activities to enhance the advancements in the technology is one of the major factor responsible for the growth of Remote Diagnostic Market in North America region over the forecasted period.
Asia Pacific market is predicted to grow at a significant rate during the forecast period. The growing logistic sector, strict rules for emissions, and growing concerns of vehicle safety are the major factors that are contributing to the growth of the market in this region. Also, the availability of large base of population leading to availability of large numbers of end-users is one of the major factor responsible for the fastest growth in Asia pacific region.
The competitive players operating in the global remote diagnostic market are Voxx International Corporation, Delphi Automotive plc, Mercedes-Benz, Continental AG, Vidiwave Ltd, Robert Bosch GmbH, Vector Informatik Gmb, Softing AG, Magneti Marelli S. p. A. , and OnStar LLC among others.
By Vehicle Type Segment
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