Press release
Remote Diagnostics Devices Market 2018 Key Players are Delphi Automotive, Magneti Marelli, Continental AG, Denso, Robert Bosch, VOXX International, Vector Informatik, Softing AG, Onstar, Snap-On
Remote Diagnostics Devices Market
Remote Diagnostics Devices Market to witness significant growth from 2017 to 2024. Increase in global sales of hybrid and electric vehicles will primarily drive the industry size. Rising demand for luxury passenger cars, increasing sales of premium vehicle, and need for emergency support will further escalate the growth of remote diagnostic devise market till 2024.
High acceptance from transport and logistics will positively impact the industry growth owing to the ability of these Devices to count on fleet tracking efficiency and service & management. Various government agencies issue emission standards to control hazardous vehicular emissions. These strict norms for fuel economy and emissions across the globe will provide huge growth prospects for the industry over the forecast timeframe.
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By application, the industry is segmented into vehicle health alert, vehicle tracking, automatic crash notification, and roadside assistance. Roadside assistance is a vital application of remote vehicle diagnostics and its predicted to hold a significant revenue share over the next eight years. It provides emergency assistance services in case of a vehicle failure. Provision of the benefits such as automatic source diagnosis in case of vehicle failure and transmission of the analyzed data to the server along with the subjects real-time location will further support the industry dominance.
Based on connectivity, the remote diagnostic market is segmented into Bluetooth, Wi-Fi, 3G/4G LTE. Bluetooth technology is expected to contribute to the largest revenue share in the remote vehicle diagnostics market over the forecast timeframe. This technology in remote diagnostics links the vehicle to internet via cellular phone for data transmission from the server. 3G /4G LTE connectivity technology is estimated to be the second largest segment of the remote vehicle diagnostics market owing to its advancements in broadband cellular network and high network speed that supports interactive broadband services which is needed in the application of remote diagnostic devices.
Top Key Players:-
The key players of global Remote Diagnostics Devices Market are Delphi Automotive, Magneti Marelli, Continental AG, Robert Bosch GmbH, VOXX International Corporation, Vector Informatik, Softing AG, Onstar LLC, Snap-On Inc, and Denso Corporation.
Regional Segmentations:-
Asia pacific is forecasted to dominate the market over the next eight years since the region possess the major automobile industry in the world. The vehicle production is expected to grow over 40 million by 2025. China is the largest automotive market owing to increased adoption rate for hybrid electric vehicles. Chinas passenger vehicle market was 2,12,10,339 units in 2015 which has increased by 14.93 percent to 2,43,76,902 units in 2016.
Europe, led by Germany, UK and France is anticipated to exhibit significant growth owing to increasing sale of electric vehicles in 2016.Gremany recorded 4.54% increase in production of passenger car units in 2016. Latin America is projected to be a significant contributor to the industry owing to the growth in relation to OEM sales in the region.
North America, dominated by U.S. is anticipated to capture substantial share in the market over the coming years due to regional growth that is associated to rising demand for passenger and commercial vehicles with enhanced features, government regulations for mandatory requirement of onboard diagnostic systems and presence and involvement of large automobile manufacturers in the region.
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Key focus of original equipment manufacturers (OEMs) towards integration of telematics technology is providing the manufacturers with significant scope of opportunities. Bluetooth,3G/4G, and GPS are among the prominent connectivity technologies used in these Devices. These tools connect to the vehicle internal system, and then evaluate the code and information to determine the cause of the problem. They not only check the current issues, but also prevent the upcoming obstacles. These technological advancements in the automotive industry are responsible for inducing immense potential to the industry size till 2024.
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