According to a new study of Future Market Insights (FMI), the automotive remote diagnostics market is projected to record a CAGR of nearly 18.9% through 2028. In 2022, sales in the global market for automotive remote diagnostics are anticipated to reach US$ 11.6 billion. The market size is anticipated to reach US$ 32.9 Billion by 2028.

Growth of the automotive remote diagnostics market will continue to remain bolstered by a plethora of factors, which range from increasing focus of automakers on reducing maintenance cost & downtime and growing integration of IoT, to the emergence of connected car eco-systems in vehicles.

Automotive remote diagnostic solutions have gained pervasive popularity among automakers and vehicle owners alike, in light of the value-added advantages of the technology. Reduced maintenance and service downtime, along with the identification of the bottlenecks beforehand, and enabler of on-point, efficient solutions, are some of the key benefits of the automotive remote diagnostics that are driving their demand.

Additionally, attributes of the automotive remote diagnostics, beneficial for vehicle owners, in terms of identifying potential downturns, defects, and shortcomings of the vehicle in advance, and reducing the total time and cost spent during maintenance, are further expected to drive growth of the automotive remote diagnostics market.

The upward trend of vehicle electrification has had a massive and direct influence on growth of the automotive remote diagnostics. Additionally, recent rise in the connected-car ecosystem, along with the proliferation if IoT and connected devices in the automotive industry, will continue to favor growth of the automotive remote diagnostics market in the foreseeable future.

Key players operating in the automotive remote diagnostics market include Robert Bosch GmbH, Tech Mahindra Limited, Continental AG, OnStar LLC, Vector Informatik GmbH, Transics, Verizon, ACTIA Group, Softing AG, Magneti Marelli S.p.A., IBM, and Harman International, among others.

AUTOMOTIVE REMOTE DIAGNOSTIC MARKET TAXONOMY

The global automotive remote diagnostics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.