The Necessity of Remote Diagnostics to Augment the Level of Safety by Integrating It with IoT to Strengthen the Growth Perspectives of Global Remote Diagnostics Market

Tue, 15 December 2020 11:07

The global remote diagnostics market is expected to exhibit a hefty pace for development on accounts of an increasing tendency for IoT-powered vehicles and connected car solutions. The development of remote diagnostics and the ability to perform and execute operations more effectively also induces customers' reliance on remote diagnostics solutions. These remote diagnostics also help enhance the vehicles' safety and security standards and provide more control and information about the vehicle's overall performance, increasing the consumers' tendency to maintain the optimum performance and spur the rate of adoption.

After the pandemic, the market is expected to register a significant dip in the growth prospects. The severe decrement registered is due to the curbed production of automotive vehicles and the volatility in the international market, limiting the automotive OEM and remote diagnostics manufacturers. However, information regarding the oil temperature, the engine's temperature, and overall monitoring of the vehicle's health to flourish the development prospects for the market.

The early problem detection help customer to schedule its maintenance service properly. This monitoring also helps vehicle users to maintain fuel consumption optimization and vehicle performance. Thus, the development of products offering a more interactive mode of operation and better vehicle control, and better problem identification is estimated to provide new avenues for the market.

Got questions about your regional growth of

Remote Diagnostics Market?

Just drop us a line or call on +1 646 480 7505

Key Highlights

  • The global remote diagnostics market is expected to grow at a compound annual growth rate (CAGR) of 12.78% during the forecast period.
  • The development of new products and the launch of products with more actionable insights and accuracy in recording the statistics using the sensors and other installed physical modules to provide sizable growth for the market.
  • Due to the COVID-19 outbreak and restriction of social activities, increased time spending at home has increased the remote diagnostics market's development. However, disruption in the supply chain can imbalance the demand and supply of Remote diagnostics.
  • The market of Asia-Pacific is expected to profess a substantial growth in the market due to manufacturing operations and applications across the type of vehicles in the region of China. The increasing trend of custom modifications in the vehicles is also anticipated to fuel market growth prospects.
  • The Bluetooth segment to hold on a noteworthy share of the global market with the growth is largely contributed to the reliable, flexible, and simpler assembly of the Bluetooth feature. 
  • Increased awareness of the customers towards the timely maintenance and repairing services to elevate the growth prospects for the remote diagnostics market
  • The increasing market fragmentation with a strong influx and performance of manufacturers in multiple regions across different regions such as North America, Europe, and Asia-Pacific to develop remote diagnostics market.

According to Straits Analysis, key players in the global Remote diagnostics market are Robert Bosch GmbH, IBM, Vector Informatik GmbH, Continental AG, Delphi Technologies, Magneti Marelli S.p.A., Otonomo, Tech Mahindra Limited, Softing AG, Systemtechnik GmbH, and ACTIA Group among others.

Remote Diagnostics Market: Segmentation

By Connectivity

  • Bluetooth
  • 3G/4G LTE/5G
  • Wi-Fi

By Application

  • Automatic Crash Notification
  • Vehicle Health Alert
  • Vehicle Tracking
  • Roadside Assistance

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)

By Product Type

  • Software
  • Diagnostic Equipment

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • The Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Egypt
  • South Africa
  • The Rest of MEA

Asia-Pacific

  • India
  • China
  • Japan
  • Australia
  • South Korea
  • The Rest of Asia-Pacific

South America

  • Columbia
  • Brazil
  • Chile
  • Peru
  • Argentina
  • The Rest of South America

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

View Full Report Buy This Report Now