Topnewspro.com The “Automotive Remote Diagnostics Market” report has been added by Logic Research and Solutions.
This market research report presents detailed segmentation of the global automotive remote diagnostics. The market has been segmented on the basis of vehicle type i.e., passenger cars and commercial cars and by region. The key players operating in this market are Robert Bosch GmbH, Continental AG, Vector, and Vidiwave.
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Global automotive remote diagnostics market
As per Logic Research and Solutions, the global automotive remote diagnostics market is estimated to grow at a CAGR of more than 12% during the forecast period from 2016 to 2021. Remote vehicle diagnostics is a key telematics application in tapping significant potential revenue from the aftersales period of the vehicle. This has turned out to be the best available means to boost ROI on several new technology offerings, such as telematics applications and services or connected car offerings. The vehicle manufacturers are focusing on implementing remote diagnostics as a business model to explore this untapped revenue potential source. This growth in the telematics market will be a key growth driver for the remote vehicle diagnostics market during the forecast period.
Automotive remote diagnostics market Features
One of the latest trends in the automotive remote diagnostics market is the emergence of a new advanced connected technology called prognostics. This feature can actively monitor vehicle components’ health and subsequently notifies customers. For instance, GM’s prognostic feature focuses on the battery, starter motor, and fuel pump, and the technology is expected to be added in more vehicle parts of the vehicles over the next five years. The evolution of remote vehicle diagnostics reduces the need to take the vehicle to a servicing center, which will increase this feature’s adopting in the coming years.
Passenger cars dominated the automotive remote diagnostics market in 2015, accounting for more than 74% of the overall market share. Much of this segment’s growth is because these vehicles had the first mover advantage, which has resulted in the maximum penetration of remote diagnostics in these vehicles. The market for remote diagnostics in passenger cars segment is expected to witness steady growth in the forecast period because the feature is becoming a standard in mid-end cars, especially in the developed regions.
Geographical segmentation and analysis of the automotive remote diagnostics market
Rest of the world
The Americas (North America and Latin America) is the leading region in the automotive remote diagnostics market and is expected to reach revenues worth USD 9 billion by 2021. The market in this region is primarily driven by feature upgrades and newer business models aimed at developing additional revenue streams for OEMs. With the increasing use of telematics applications such as emergency call systems, the remote vehicle diagnostics will continue to penetrate the automotive market in the Americas in all vehicle segments in the coming years.
Competitive landscape and key vendors
Competition in this market is expected to intensify during the forecast period because all the large OEMs will offer connected car offerings. Several new players are expected to enter the market as the value chain is expanding in step with newer business models.
Key vendors in this market include –
The key players in the market are Robert Bosch GmbH, Continental Ag, OnStar, Vectar and Vidiwave. The other prominent vendors in the automotive remote diagnostics market are Automatic, Dash Labs, Delphi, DSA, EASE Diagnostics, , AVL DITEST GmbH, CarShield, Carvoyant Emotive, Hickok Incorporated, Magneti Marelli, Mercedes-Benz, Mojio, Movimento, Openbay, Snap-on, Softing, Sontheim, Texa, Voxx International, and Zubie among others.