Home > Automotive > Aftermarket > Tools and Equipment > Remote Vehicle Diagnostics Market

Remote Vehicle Diagnostics Market Trends

Report ID: GMI10640
Published Date: Aug 2024
Report Format: PDF

Download Free Sample

Remote Vehicle Diagnostics Market Trends

Technologies such as AI and ML are providing significant market opportunities for the remote vehicle diagnostic market. Companies are using advanced analytics tools to extract valuable insights from vehicle data, enabling predictive maintenance and optimizing vehicle uptime while reducing maintenance costs. In addition, over-the-air (OTA) updates are becoming common, allowing for seamless software improvements and new feature additions without requiring physical visits to dealerships.

The market is witnessing advancements in connectivity options, including Bluetooth, 5G, 4G LTE, and Wi-Fi. 5G technology is gaining traction, due to its faster data transfer speeds and lower latency. With growing environmental concerns, there is rising demand for diagnostics supporting eco-friendly practices, such as emissions monitoring and battery health assessment for electric vehicles. Further, combining remote diagnostics with insurance telematics is becoming a trend, providing valuable data for risk assessment and premium calculation.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for remote vehicle diagnostics was USD 12.5 billion in 2023 and is expected to register over 16.5% CAGR from 2024-2032 owing to the increasing vehicle connectivity, rising vehicle ownership, and fleet management worldwide.

Remote vehicle diagnostics industry from the passenger cars segment held over 75% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to increased focus on vehicle safety and performance, rising consumer demand for convenience, and increasing vehicle ownership.

Europe industry held 30% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to rising sales of electric and hybrid vehicles, including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) in the region.

AVL DiTEST GmbH, Continental AG, Denso Corporation, Delphi Technologies (BorgWarner), Magneti Marelli (Marelli), OnStar (General Motors), Robert Bosch GmbH, Snap-on Incorporated, and ZF Friedrichshafen AG, are some of the major remote vehicle diagnostics companies worldwide.