Future Market Insights has announced the addition of the “Automotive Remote Diagnostic Market: Global Industry Analysis and Opportunity Assessment 2016-2026” report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 01/06/2017 -- The successful integration and development of technologies such as telematics and Internet of Things is enabling end-users and OEMs to interact with each other, for offering better services and product to ensure comfortable and safe drive. With evolving consumer needs, the industry is seeing a resurge in demand for in-vehicle diagnostic technology. Automotive remote diagnostics technology is seeing a surge in the demand owing to its increasing adoption for passenger car application. The technology enables equipped vehicles to collect, diagnose and manage data of integral system and components so as to assess car performance and report any anomaly within. Remote diagnostic system encompasses a telematics unit and a processor which is connected to in-vehicle system component sensors and ECU. The unit mines and sorts data of each component and subsystem, relays it to a remote server or a data centre, which then either recommends a course of action or notifies the user about system failure, default and suggests preventive maintenance activities. The presence and increasing adoption of remote diagnostic vehicle products are reducing the gap within the value chain allowing the OEMs to interact directly with the end-user and offer better services.
Automotive Remote Diagnostic Market: Market Dynamics
The thriving global sales of hybrid and electric vehicle is one of the prime factors influencing the automotive remote diagnostic market. Pivotal focus of OEMs towards integration of telematics technology is aiding in the growth of remote diagnostic equipment. One of the key markets aiding in the development and growth of the automotive remote diagnostic market is transport and logistics. Automotive remote diagnostic devices being used for the efficiency of fleet tracking, service & management, emerging markets are expected to create lucrative opportunities for manufactures during the forecast period. Additional cost of installation, and services are expected to act as a deterrent for different end-users in relatively new markets.
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Automotive Remote Diagnostic Market: Segmentation
The Automotive Remote Diagnostic market can be segmented on the basis of product type, vehicle type and application
Automotive remote diagnostic market is segmented on the basis of product type as:
On the basis of vehicle type the automotive remote diagnostic market is segmented as:
Light Commercial Vehicle
Heavy Commercial Vehicle
By application, the automotive remote diagnostic market is segmented as:
Vehicle System and Component Access
Vehicle Health Tracking & Diagnosis
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Automotive Remote Diagnostic Market: Regional Outlook
The automotive remote diagnostic market can also be segmented on the basis of region, as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific ex. Japan, Middle East & Africa and Japan. Although the technology has existed since long, in 2015 only Western Europe and North America accounted for the major contribution in terms of revenue, with U.S spearheading the automotive remote diagnostic market followed by Germany, France, Spain and Italy. Though the market is at a nascent stage in other regions, high value growth in terms of OEM sales is anticipated to drive the automotive remote diagnostic market in APEJ, Latin America, and Middle East and Africa respectively. Sustainable demand from the proliferating automotive markets of India and China are expected to boost the revenue projection of automotive remote diagnostic market in the APEJ region. The increasing penetration of electric and hybrid cars into the mainstream vehicle PARC is also initiating a high demand for automotive remote diagnostic equipment in Japan and other neighbouring ASEAN countries. The escalating passenger car sales in Brazil, Mexico, Argentina and Columbia is expected to create significant opportunities for the Latin America automotive remote diagnostic market. Similarly the escalating sale of light commercial and heavy commercial vehicles in the emerging automotive industry in GCC, Iran and South Africa is expected to fuel the growth of the automotive remote diagnostic market in the Middle East.
Automotive Remote Diagnostic Market: Market Participants
Examples of some of the market participants in the global automotive remote diagnostic market identified across the value chain include Robert Bosch GmbH, Continental AG, OnStar LLC, VectorInformatik, Vidiwave Ltd., Tech Mahindra Limited, Verizon Enterprise, Transics, INmatix Technology Group , ACTIA Group among other participants.