Emergence of autonomous vehicles is supporting growth of the market
The key factor responsible for the growth of the global remote vehicle diagnostics market is advent of autonomous vehicle.
In electric vehicles this solution is responsible for monitoring working status of the vehicle, control, and providing overall status of the vehicle, which includes status of battery and remote vehicle operations such as door locking and HVAC, by sending updates via email or SMS to the owner.
For instance, according to IHS Markit, an automotive database provider, the global autonomous vehicles sales is expected to cross over 600,000 units in 2025 increasing at a CAGR of 43% between 2025 and 2035.
Remote Vehicle Diagnostics Market Taxonomy
On the basis of vehicle type, the global remote vehicle diagnostics market is segmented into:
According to Statista, “Every year the lives of approximately 1.35 million people are cut short as a result of a road traffic crash. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury.”
This may be due to improper functioning of the vehicle or rash driving behavior. As these consequences also affect the country’s overall GDP growth along with personal losses, an IoT based automotive solution is the primary need to bring that level of awareness with car/ vehicle safety.
