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Automotive Remote Diagnostics Market Landscape 2025: Forecast Data and Growth Strategy Insights
Automotive Remote Diagnostics
What Is the Expected CAGR for the Automotive Remote Diagnostics Market Through 2025?
In recent times, there has been a swift growth in automotive remote diagnostics market. Its size is predicted to escalate from $14.49 billion in 2024 to $16.54 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 14.1%. Factors contributing to this heightened growth during the historical period include the rising complexity of automotive systems, growing demand for improved vehicle maintenance efficiency, the deployment of fleet management solutions on a larger scale, regulatory requirements, compliance issues and the worldwide expansion of the automotive industry.
What's the Projected Size of the Global Automotive Remote Diagnostics Market by 2029?
The growth of the automotive remote diagnostics market is set to accelerate in the coming years with a projection to reach a value of $27.69 billion in 2029 at a compound annual growth rate of 13.8%. Factors such as the increased adoption of connected vehicles, a shift towards predictive maintenance, focus on fleet optimization, demand for superior customer experiences and the advent of subscription-based models are expected to propel growth during this period. Other notable trends anticipated during this forecast period include the rising integration of artificial intelligence and machine learning, the expansion of remote software updates, the use of blockchain for secure data transfer, a shift towards cloud-based remote diagnostics platforms, and a focus on customized diagnostic details.
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Top Growth Drivers in the Automotive Remote Diagnostics Industry: What's Accelerating the Market?
The surge in electric vehicle demand is projected to boost the expansion of the automotive remote diagnostics market in the future. Electric vehicles (EVs), powered by one or more electric motors that use energy from rechargeable batteries or other energy sources, are typically characterized by zero tailpipe emissions. The growth of EVs is attributed to several significant factors, such as rising environmental consciousness, advancements in battery technology, government incentives, and price competitiveness. Due to the complex electric drivetrain and battery systems of electric vehicles, remote diagnostics are needed for timely intervention to ensure efficient operation, maintenance, and optimization. For instance, as per the International Energy Agency, an autonomous intergovernmental organization based in France, about 14 million new electric vehicles were registered worldwide in 2023, bringing the total to 40 million on the roads by April 2024. Electric cars constituted roughly 18% of all vehicle sales, marking a climb from 14% in 2022. Consequently, the burgeoning demand for electric vehicles is fuelling the growth of the automotive remote diagnostics market.
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What Trends Will Shape the Automotive Remote Diagnostics Market Through 2029 and Beyond?
Prominent businesses in the automotive remote diagnostics sector are innovating advanced solutions such as the advanced automotive diagnostic tablet in order to gain a competitive market advantage. An exemplary portable gadget with specific software and hardware tailored to analyze and resolve vehicle problems is the advanced automotive diagnostic tablet. THINKCAR TECH Co. Ltd., a diagnostics company based in China, for example, introduced the ThinkTool Master X2, an automotive diagnostic tablet, into the market in February 2024. This tool, which is based on the Android platform and is equipped with a 10.1-inch touch screen, primarily uses its video remote diagnosis technology for hassle-free connectivity with certified online technicians, providing on-the-spot expert consultation and support. It is an extensively comprehensive solution for automotive diagnostics as it offers professional diagnostic services for a range of vehicles such as passenger, commercial, hybrid and electric vehicles, and incorporates features like video remote diagnostics, programming, upkeep, and a comprehensive tire pressure monitoring system (TPMS).
What Are the Main Segments in the Automotive Remote Diagnostics Market?
The automotive remote diagnostics market covered in this report is segmented -
1) By Product Type: Diagnostic Equipment, Software
2) By Connectivity: Long-Term Evolution (LTE), Wi-Fi, Bluetooth
3) By Application: Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert, Roadside Assistance
4) By Vehicle Type: Passenger Cars, Compact, Mid-Sized, Luxury, Sports Utility Vehicle (SUVs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
Subsegments:
1) By Diagnostic Equipment: On-Board Diagnostic (OBD) Devices, Diagnostic Scanners And Tools, Remote Diagnostic Testers, Data Loggers, Vehicle Telematics Units
2) By Software: Remote Diagnostics Software Platforms, Cloud-Based Diagnostic Software, Predictive Maintenance Software, Vehicle Health Monitoring Software, Diagnostic Analytics And Reporting Software
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Which Top Companies are Driving Growth in the Automotive Remote Diagnostics Market?
Major companies operating in the automotive remote diagnostics market are Mercedes-Benz AG, Verizon Enterprise, Robert Bosch GmbH, Continental AG, Aptiv PLC, BorgWarner Inc., Tech Mahindra Limited, Snap-on Incorporated, ACTIA Group, OnStar LLC, Voxx International Corporation, KPIT Technologies, MiX Telematics, ETAS GmbH, Magneti Marelli S.P.A., Softing AG, Transics, DSA Daten- und Systemtechnik GmbH, CarMD.com Corporation, Autologic Diagnostics Ltd., AVL DiTEST GmbH, Otonomo, Vector Informatik, Vidiwave Ltd., Autel Intelligent Technology Corp. Ltd.
Which Regions Will Dominate the Automotive Remote Diagnostics Market Through 2029?
North America was the largest region in the automotive remote diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive remote diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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