Press release
Automotive Remote Diagnostics Market Is Estimated To Create An Absolute $ Opportunity Of Us$ 25.7 Bn By The End Of 2031
From 2019 to 2029, the global Automotive Remote Diagnostics Market will grow at an astounding 33% CAGR. Controlled airspace accounts for more than three-fourths of the global market and is expected to generate a $3 billion absolute dollar opportunity between 2021 and 2031.Read Report Overview: https://www.factmr.com/report/4629/automotive-remote-diagnostics-market
Key Takeaways from Market Study
The Most Important Takeaways from the Automotive Remote Diagnostics Market
The global vehicle health tracking and diagnosis segment is expected to generate more than US$12.2 billion in absolute dollars and to contribute a value CAGR of 20.5% during the forecast period (2019-2028)
East Asia is expected to grow at a faster rate than the rest of the market regions, with a CAGR of 20.8% between 2019 and 2028.
Light Commercial Vehicles (LCV) are expected to be worth US$25.9 billion, which is 7.7 times more than Heavy Commercial Vehicles (HCV)
Europe is expected to be the market leader in the global automotive diagnostics market by 2028, with a 33% value market share.
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Industry Players Focusing on Expansion for Business Opportunities
The prominent players in the automotive remote diagnostic market are focusing on product expansion as their key strategy to enhance their market presence and also to gain a competitive edge over the other market players on a global scale. For instance,
In March 2019, ACTIA Group took a technological turn by investing in open source operating system for automotive with The Linux Foundation. This, in turn, will help the company to expand its offerings.
In 2018, Transics expanded its offerings by introducing its latest driver app TX-FLEX which will enable the driver to schedule follow-ups via smartphones
In 2017, Bosch hosted the inauguration ceremony of its Technical Center Expansion in Plymouth. Expansion of this technical center will enable the growth of several mobility technologies and automotive aftermarket parts and components
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Key Segments of the Automotive Remote Diagnostics Market
Fact.MR's study on the automotive remote diagnostics market offers information divided into four key segments- product, application, vehicle and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
By Product :
Diagnostics Equipment
Software
By Application :
Vehicle System & Component Access
Vehicle Health Tracking & Diagnosis
Service Assistance
By Vehicle :
Passenger Cars
Compact
Mid-Sized
Luxury
SUV's
Light Commercial Vehicles
Heavy Commercial Vehicles
By Region :
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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What Do You Get in a Fact.MR Study?
Factors affecting the overall development of the global Automotive Remote Diagnostics Market
Factor that might restrain the growth of the global market in the coming years of the forecast period.
What is present competitive scenario of the global Automotive Remote Diagnostics Market and its intricate details concerning potential business prospects of leading market players
Pricing strategies of several different market players in the global Automotive Remote Diagnostics Market
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