The global automotive remote diagnostics marketis expected to grow at a CAGR of close to 17% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global automotive remote diagnostics market from 2017-2021. (Graphic: Business Wire)
Global automotive remote diagnostics market segmentation by vehicle type and geography
Technavio's report on the global automotive remote diagnostics market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by vehicle type which includes passenger cars and commercial vehicles. As projected in 2016, around 74% of the market share originated from passenger cars.
Based on geography, the global automotive remote diagnostics market has been segmented into the Americas, EMEA, and APAC. As of 2016, over 44% of the market share came from the Americas.
"The Americas is a major contributor to the global automotive remote diagnostics market because of the implementation of onboard diagnostics by the US government from the 1990s. It has come a long way with several innovations and start-up companies. Remote diagnostics systems are mainly observed in the US and Canada. It primarily includes OBD connectivity, embedded display systems, and telematics," says Keerthi Balu, a lead analyst at Technavio for automotive electronics research.
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Automotive remote diagnostics market: competitive vendor landscape
The automotive remote diagnostics market comprises of tier-1 suppliers working on deploying numerous fleet management solutions to come up with differentiated product offerings in the commercial vehicles segment. Also, these tier-1 suppliers have taken a strong position in the telematics market and are raising their R&D investments for connected car technologies and IoT. Luxury car brands, such as Mercedes-Benz, BMW, Audi, and Volkswagen, are making significant investments in the adoption of these technologies. Bosch, Continental, OnStar, Vector Informatik, and Vidiwave are the key vendors in the global automotive remote diagnostics market.
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Other topics covered in the report:
- Increasing volume sales of hybrid and electric vehicles
- Fleet management with telematics systems
- Data security issues due to potential hacking concerns
- Complexity in telematics software design and standardization concerns
- Evolution of remote diagnostics to prognostics
- Digital transformation to improve safety and security
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