Remote Diagnostic Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Rise in Sales of Hybrid and Electric Vehicles to Boost the Remote diagnostic Market

The remote diagnostic market worldwide is expected to grow with a CAGR of 16.5% during the forecast period from 2021 to 2029, starting from US$ 18.62 Bn in 2020. The increase in sales of hybrid and electric vehicles shall primarily drive the remote diagnostic market. Remote diagnostic refer to the act of analyzing a certain symptom, issue or problem from a distance. The amalgamation of IoT and telematics technology shall contribute to the growth of the remote diagnostic market. Further, the escalating demand for luxury passenger vehicles, premium vehicles and emergency support shall support the remote diagnostic market. Therefore, we expect that the remote diagnostic market will show substantial growth during the forecast period.

Passenger Vehicle Segment will led the Market

In the previous year, global remote diagnostic market was segmented into commercial vehicle and passenger vehicle sub-segments based on vehicle type. The passenger vehicle is anticipated to dominate the market during the forecast period. Owing to increase in production of passenger vehicle in the emerging economies of China and India, the remote diagnostic market shall grow. Notably, China is the principal automotive market due to augmented acceptance of hybrid electric vehicles. The expansion in heightened electric technology of vehicles shall further nurture the remote diagnostic market. Thus, we expect that the passenger vehicle segment will show dominance during the forecast period 2021-2029.

Asia Pacific to Continue Dominate the Market

In 2020, North America led the remote diagnostic market. The United States shall hold a substantial share in the North American market. On the other hand, Asia-Pacific is expected to have a significant growth during the forecast period. The regional growth shall be backed by the rise in demand for passenger and commercial vehicles along with modified features and changing government policies. Owing to the growth in production of passenger cars in the region, it shall contribute significantly to the remote diagnostic market. As a result, we expect that Europe region will grow at a significant pace throughout the forecast period.

Some of the prominent players operating in the remote diagnostic market Delphi Automotive, Magneti Marelli, Continental AG, Robert Bosch GmbH, and VOXX International Corporation, Hickok Incorporated, Actia SA, Etas GmbH, DG Technologies, Dsa Daten- und Systemtechnik GmbH, Vidiwave, General Technologies Corp, Fluke Corporation, and Kpit Technologies Ltd. among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Report Scope by Segments

The remote diagnostic market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global remote diagnostic market based on vehicle type, application, connectivity and geography. Key segments covered in the report are as follows:

Vehicle Type (2019-2029; US$ Bn)

• Commercial Vehicles
• Passenger Vehicles

Application (2019-2029; US$ Bn)

• Roadside Assistance
• Vehicle Tracking
• Vehicle Start Alert
• Crash Notification
• Training Assistance

Connectivity (2019-2029; US$ Bn)

• Bluetooth
• 3G/4G
• Wi-Fi

Geography Segment (2019-2029; US$ Bn)

• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

• What was the market size of remote diagnostic in 2020 and forecast up to 2029?
• Which is the largest regional market for remote diagnostic?
• What are the major trends followed in overall remote diagnostic across different regions?
• Who are the key remote diagnostic companies leading the market?
• What are the key strategies adopted by the leading remote diagnostic companies in market?

Unique data points of this report

• Recent trends across different regions in terms of adoption of remote diagnostic across various applications
• Notable developments going on in remote diagnostic market
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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