The global remote diagnostic market is rising at an impressive pace and going forward too it is expected to continue doing so. Rising awareness among consumers for vehicles to comply with road safety directives and emission standards are among the prominent factors fuelling growth of remote diagnostics market.
Amongst a few, a notable trend observed in the remote diagnostic market is the increasing demand for Real Driving Emission (RDE) Test. Today, consumers are informed about the importance of RDE to complement lab tests for vehicles to discharge particulate matter in permissible limits. This is because equipment installed on the vehicle for RDE testing collects data to verify that legislative limits for pollutants such as NoX are not crossed.
A report by Transparency Market Research (TMR) forecasts the global remote diagnostics market to register an impressive 14.8% CAGR for the forecast period between 2017 and 2025. Expanding at this pace, the market will become worth US$42.04 bn by 2025 increasing from US$12.88 bn in 2016.
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Rising Demand for On-road Vehicular Safety Spikes Roadside Assistance Segment
The remote diagnostics market is classified into roadside assistance, vehicle tracking, vehicle state alert, crash notification, training assistance, training assistance, and other based upon application. Among them, the segment of roadside assistance led the market in 2016 revenue-wise. The growth of the segment is account of increasing demand for vehicular safety and security on the roads.
In terms of vehicle type, the segments into which the remote diagnostic market is divided are commercial vehicles and passenger vehicles. The segment of passenger vehicles dominated the market in 2016 in terms of revenue contribution. The key factor behind the lead position of the segment is the increasing demand for fuel efficiency and regulations in place to monitor vehicle emissions.
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Early Adoption of Technology Makes North America Leading Segment
The key segmnets into which the global remote diagnostics market is classified based upon geography are North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. According to the TMR report, North America is the most promising market amongst other key regions for remote diagnostics. The region led the overall market in terms of revenue contribution in 2016. The growth of the region is underpinned by early adoption of technology, stringent regulations for vehicle safety, emissions, and fuel economy. The U.S. powers the growth of North America remote diagnostic market. Early adoption of technology and increasing demand for telematics are primarily driving the growth of the market in the U.S.
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Key players opertating in the global remote diagnostic market mentioned in the report are Robert Bosch GmbH, Continental AG, OnStar LLC, Mercedes-Benz, Magneti Marelli S.p.A., Delphi Automotive plc, Softing AG, Voxx International Corporation, Vector Informatik GmbH, and Vidiwave Ltd.
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