The growing demand for safety features and emergency support and increasing sales of luxury vehicles are expected to stimulate the growth of the global remote vehicle diagnostics market”
The remote vehicle diagnostics market is projected to reach a market size of USD 30.22 billion by 2021, growing at a CAGR of 16.79% from 2016 to 2021. The remote vehicle diagnostics market is driven by the increasing demand for luxury and comfort features in the automotive industry. Growing concerns regarding data security are a major restraint of the remote vehicle diagnostics market.
Wi-Fi to constitute the fastest growing segment of the remote vehicle diagnostics market, by connectivity
Wireless Fidelity (Wi-Fi) connectivity technology is expected to dominate the remote vehicle diagnostics market. The market for Wi-Fi in remote vehicle diagnostics is set to grow at a CAGR of 11.79% from 2016 to 2021, and is projected to reach USD 21.9 million by 2021. Premium vehicle manufacturers are integrating built-in Wi-Fi chipsets in their vehicles. A vehicle with its own Wi-Fi signal enhances the consumer experience with high-speed internet access.
North America: Largest market for remote vehicle diagnostics
North America is estimated to be the largest market for remote vehicle diagnostics, accounting for approximately 45% of the total market share in 2016. It is estimated to occupy the largest market share during the forecast period. The North American region is a frontrunner in terms of technology, and is consequently expected to lead the remote vehicle diagnostics market. The North American remote vehicle diagnostics market, in terms of value, is dominated by the U.S., followed by Mexico and Canada.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier I companies and OEMs. The break-up of the primaries is as follows:
-By Company Type – Tier I - 60%, Tier II - 30%, and Tier III - 10%
-By Designation - C level - 35%, D level - 50%, and Others - 15%
-By Region - North America - 36%, Europe - 37%, Asia-Oceania - 21%, and Rest of the World - 6%.
The report provides detailed profiles of the following companies:
-Robert Bosch GmbH (Germany)
-Continental AG (Germany)
-OnStar LLC (U.S.)
-Magneti Marelli S.p.A (Italy)
-Delphi Automotive PLC (U.K.)
-Softing AG (Germany)
-Snap-On Inc. (U.S.)
-Voxx International Corporation (U.S.)
-Vector Informatik GmbH (Germany).
-Vidiwave Ltd. (U.K.)
The report covers the remote vehicle diagnostics market based on region (North America, Europe, Asia-Oceania and Rest of the World), application (automatic crash notification, vehicle tracking, vehicle health alert, and roadside assistance), vehicle type (Light-Duty Vehicles (LDVs), and Commercial Vehicles (CVs)), and connectivity (4G LTE, 3G, Bluetooth, and Wi-Fi). The report also includes a study of the aftermarket for remote vehicle diagnostics, by region, in terms of value (USD billion) and volume (‘000 units).
Reasons to Buy the Report:
The report provides insights about the following points:
-Market Penetration: Comprehensive information about remote vehicle diagnostics solutions offered by the top players in the automotive industry
-Market Development: Comprehensive information about applications of remote vehicle diagnostics. The report analyzes the markets for various applications across regions
-Market Diversification: Comprehensive information about emerging markets, recent developments, and product developments in the remote vehicle diagnostics market
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