Dublin, Dec. 09, 2024 (GLOBE NEWSWIRE) -- The "Automotive Remote Diagnostics Market Report by Product Type, Connectivity, Vehicle Type, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global automotive remote diagnostics market size reached US$ 13.6 billion in 2023. Looking forward, the market is projected to reach US$ 48.8 billion by 2032, exhibiting a growth rate (CAGR) of 15.25% during 2023-2032.
Significant growth in the automotive industry represents as one of the key factors driving the growth of the market. Furthermore, increasing emphasis of original equipment manufacturers (OEMs) on the improvement of vehicle performance and collection of relevant data is also driving the market growth.
The adoption of automotive remote diagnostics aids in significantly minimizing service downtime and effectively predicting component defects. In line with this, the increasing demand for electric and hybrid vehicles (E/HVs) is also contributing to the market growth. Additionally, various technological advancements, such as the integration of the Internet of Things (IoT) and telematics, are acting as other growth-inducing factors.
These technologies enable users to interact with the connected car eco-systems to offer an improved and comfortable driving experience. Other factors, including the rising demand for luxury and sports vehicles, along with extensive research and development (R&D) activities on improving safety and security of the passengers, are anticipated to drive the market further.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global automotive remote diagnostics market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product type, connectivity, vehicle type and application.
Breakup by Product Type:
- Diagnostic Equipment
- Software
Breakup by Connectivity:
- 3G
- 4G LTE
- Wi-Fi
- Bluetooth
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Application:
- Automatic Crash Notification
- Vehicle Tracking
- Vehicle Health Alert
- Roadside Assistance
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being:
- Aptiv PLC (BorgWarner Inc.)
- AVL DiTEST GmbH (List Capital & Consulting GmbH)
- Continental Aktiengesellschaft
- Magneti Marelli S.p.A. (KKR & Co. Inc.)
- Mercedes-Benz AG (Daimler AG)
- OnStar Corporation (General Motors Company)
- Robert Bosch GmbH (Robert Bosch Stiftung GmbH)
- Snap-On Incorporated
- Softing AG
- Tech Mahindra Limited (Mahindra Group)
- Vector Informatik GmbH
Key Questions Answered in This Report:
1. What was the size of the global automotive remote diagnostics market in 2023?
2. What is the expected growth rate of the global automotive remote diagnostics market during 2024-2032?
3. What are the key factors driving the global automotive remote diagnostics market?
4. What has been the impact of COVID-19 on the global automotive remote diagnostics market?
5. What is the breakup of the global automotive remote diagnostics market based on the product type?
6. What is the breakup of the global automotive remote diagnostics market based on the connectivity?
7. What is the breakup of the global automotive remote diagnostics market based on the vehicle type?
8. What is the breakup of the global automotive remote diagnostics market based on the application?
9. What are the key regions in the global automotive remote diagnostics market?
10. Who are the key players/companies in the global automotive remote diagnostics market?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $13.6 Billion |
| Forecasted Market Value (USD) by 2032 | $48.8 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/tl3wha
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