The report presenting a comprehensive exploration of the global Remote Diagnostic Devices Market encloses the rate of growth of the market over the projected duration. Providing a concise synopsis, the report determines the valuation and size of the industry in the near future. It also includes the major contributing factors to the growth of the global remote diagnostic devices market as well as the dominating players in the market coupled with their market share.
Based on connectivity, the remote diagnostic devices market is segmented into Bluetooth, Wi-Fi, 3G/4G LTE. Bluetooth technology is expected to contribute to the largest revenue share in the remote vehicle diagnostics market over the forecast timeframe. This technology in remote diagnostics links the vehicle to internet via cellular phone for data transmission from the server. 3G /4G LTE connectivity technology is estimated to be the second largest segment of the remote vehicle diagnostics market owing to its advancements in broadband cellular network and high network speed that supports interactive broadband services which is needed in the application of remote diagnostic devices.
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Europe, led by Germany, UK and France remote diagnostic devices market is anticipated to exhibit significant growth owing to increasing sale of electric vehicles in 2016.Gremany recorded 4.54% increase in production of passenger car units in 2016. Latin America is projected to be a significant contributor to the industry owing to the growth in relation to OEM sales in the region.
North America, dominated by U.S. is anticipated to capture substantial share in the remote diagnostic devices market over the coming years due to regional growth that is associated to rising demand for passenger and commercial vehicles with enhanced features, government regulations for mandatory requirement of onboard diagnostic systems and presence and involvement of large automobile manufacturers in the region.
Asia pacific is forecasted to dominate the remote diagnostic devices market over the next eight years since the region possess the major automobile industry in the world. The vehicle production is expected to grow over 40 million by 2025. China is the largest automotive market owing to increased adoption rate for hybrid electric vehicles. Chinas passenger vehicle market was 2,12,10,339 units in 2015 which has increased by 14.93 percent to 2,43,76,902 units in 2016.
The industry growth in China is attributed to its vast population in respect with rising disposable income for personal transportation that remains unmet using traditional technologies. the remote diagnostic devices market is expected to grow at a high rate in countries such as China, India, South Korea, Japan. Due to its sizable population and increasing disposable income this region has the highest vehicle production in the world.
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Remote Diagnostics Devices Market is segmented into vehicle health alert, vehicle tracking, automatic crash notification, and roadside assistance. Roadside assistance is a vital application of remote vehicle diagnostics and its predicted to hold a significant revenue share over the next eight years. It provides emergency assistance services in case of a vehicle failure. Provision of the benefits such as automatic source diagnosis in case of vehicle failure and transmission of the analyzed data to the server along with the subjects real-time location will further support the industry dominance.
Based on vehicle type, the remote diagnostics devices market is segmented as commercial vehicles and passenger cars. Passenger car segment is forecasted to dominate the market over the coming years owing to its increase in production units globally and advancement in enhanced electric technology for vehicles escalating the remote diagnostic market.
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Delphi Automotive, Magneti Marelli, Continental AG, Robert Bosch GmbH, and VOXX International Corporation are among the prominent participants in the remote diagnostic devices market. Other notable players include Vector Informatik, Softing AG, Onstar LLC, Snap-On Inc, and Denso Corporation. Industry players focus on collaborating with major local organizations to focus on new product development to increase their presence in vehicle diagnostic market globally.