Press release
Remote Vehicle Diagnostics Market Boomed by Emergence of autonomous vehicles
Remote Vehicle Diagnostic
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Emergence of autonomous vehicles is supporting growth of the market
The key factor responsible for the growth of the global remote vehicle diagnostics market is advent of autonomous vehicle. Remote vehicle diagnostics solution can be utilized to provide detailed status of a vehicle including vehicle tracking, summary, and analysis of a trip. It provides hardware configuration, which includes event configuration and parameters for echo cancellation. Remote vehicle diagnostics solutions are essential part of automotive industry especially for electric vehicles due to better vehicle performance and real time driving emission testing.
Market players are focused on development and manufacturing of autonomous vehicles. According to HIS Markit, autonomous vehicle sale in China is expected to reach around 5.7 million by 2035 and in the U.S. around 4.5 million vehicles. Considering these statistics, the automotive industry especially electric vehicles market is expected to grow at a significant rate, which in turn is expected to propel the growth of global remote vehicle diagnostics market during forecast period.
Remote Vehicle Diagnostics Market: Regional Insights
The market for remote vehicle diagnostics market in Asia Pacific region is expected to account largest market share during forecast period, owing to increasing vehicle manufacturing and high demand for electric vehicles in emerging economies such as China and Japan. According to the International Energy Agency’s Global EV Outlook, China held the largest market share for electric vehicles in 2016 accounting for over 40% of the electric cars sold globally, which includes over 200 million electric two-wheelers and over 300,000 electric buses. This factors are expected to propel the growth of the regional remote vehicle diagnostics market by 2025.
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Remote Vehicle Diagnostics Market: Competitive Background
Major players operating in the global remote vehicle diagnostics market include Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Onstar LLC (subsidiary of General Motors), Snap-On Inc., Magneti Marelli, Softing AG, VOXX International Corporation, Vector Informatik, and Vidiwave Ltd.
Remote Vehicle Diagnostics Market Taxonomy
On the basis of vehicle type, the global remote vehicle diagnostics market is segmented into:
• Light-Duty Vehicle
• Commercial Vehicle
On the basis of connectivity, the global remote vehicle diagnostics market is segmented into:
• 4G LTE
• 3G
• Bluetooth
• Wi-Fi
On the basis of application, the global remote vehicle diagnostics market is segmented into:
• Automatic Crash Notification
• Vehicle Tracking
• Vehicle Health Alert
• Roadside Assistance
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