Global Remote Diagnostic Market: Snapshot
The global remote diagnostic market is rising at an impressive pace and going forward too it is expected to continue doing so. Rising awareness among consumers for vehicles to comply with road safety directives and emission standards are among the prominent factors fuelling growth of remote diagnostics market.
Amongst a few, a notable trend observed in the remote diagnostic market is the increasing demand for Real Driving Emission (RDE) Test. Today, consumers are informed about the importance of RDE to complement lab tests for vehicles to discharge particulate matter in permissible limits. This is because equipment installed on the vehicle for RDE testing collects data to verify that legislative limits for pollutants such as NoX are not crossed.
Acting as a hindrance to the market, on the other hand is security concerns of remote diagnostic systems.
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A report by Transparency Market Research (TMR) forecasts the global remote diagnostics market to register an impressive 14.8% CAGR for the forecast period between 2017 and 2025. Expanding at this pace, the market will become worth US$42.04 bn by 2025 increasing from US$12.88 bn in 2016.
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Rising Demand for On-road Vehicular Safety Spikes Roadside Assistance Segment
The remote diagnostics market is classified into roadside assistance, vehicle tracking, vehicle state alert, crash notification, training assistance, training assistance, and other based upon application. Among them, the segment of roadside assistance led the market in 2016 revenue-wise. The growth of the segment is account of increasing demand for vehicular safety and security on the roads.
In terms of vehicle type, the segments into which the remote diagnostic market is divided are commercial vehicles and passenger vehicles. The segment of passenger vehicles dominated the market in 2016 in terms of revenue contribution. The key factor behind the lead position of the segment is the increasing demand for fuel efficiency and regulations in place to monitor vehicle emissions.
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On the basis of connectivity, Bluetooth, 3G/4G, and Wi-Fi are the segments of the market. Bluetooth is expected to account for the leading revenue contribution in the global remote diagnostic market over the forecast period between 2017 and 2025. Increasing demand for electronic and electrical system are the factors bolstering the demand for Bluetooth technology in the remote diagnostic market.
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