Automotive Remote Diagnostics Market

Automotive remote diagnostics is widely adopted by OEMs and aftermarket players for application in vehicles owing to the benefits of reducing service downtime and maintenance of the vehicle. The system identifies the problem early and further offers an efficient on-point and on-time solution to the occupant. The growth of the automotive remote diagnostics market is driven by the increase in demand for IoT devices in automobiles and the need for reducing maintenance and service downtime in vehicles. However, the market growth can be hindered due to concerns regarding data security.

The global automotive remote diagnostics market is expected to grow at about 14.68% CAGR during the forecast period and reach USD 39,273.7 million by 2025. In 2018, the market was led by North America, with a 36.84% share, followed by Europe and Asia-Pacific with shares of 29.98% and 22.86%, respectively.

The automotive remote diagnostics market has been segmented based on product type, connectivity, vehicle type, application, and region. On the basis of product type, the diagnostic equipment segment dominated the market with a share of 83.8%, accounting for a value of USD 12,721.1 million in 2018; it is projected to grow at the CAGR of 15.15% during the forecast period. On the basis of connectivity, the Bluetooth segment dominated the market with a share of 42.7%, accounting for a value of USD 6,479.8 million in 2018; it is projected to grow at the CAGR of 13.22% during the forecast period. On the basis of vehicle type, the passenger car segment dominated the market with a share of 58.0%, accounting for a value of USD 8,807.6 million in 2018; it is projected to grow at the CAGR of 14.85% during the forecast period. On the basis of application, the roadside assistance segment dominated the market with a share of 41.0%, accounting for a value of USD 6,232.7 million in 2018; it is projected to grow at the highest CAGR of 12.67% during the forecast period.