Techno World Remote-Vehicle-Diagnostics-Market | Page 2

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. Therefore, such features are expected to boost the growth of global remote vehicle
diagnostics market by 2015. 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.
Market players are focused on development and manufacturing of autonomous vehicles.
According to HIS Markit, autonomous vehicle sale in China is expected to reach around 5.7
million by 2035 and in the U.S. around 4.5 million vehicles. Considering these statistics, the
automotive industry especially electric vehicles market is expected to grow at a significant rate,
which in turn is expected to propel the growth of global remote vehicle diagnostics market during
forecast period.
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Remote Vehicle Diagnostics Market: Regional Insights
The global remote vehicle diagnostics market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for remote
vehicle diagnostics market in Asia Pacific region is expected to account largest market share
during forecast period, owing to increasing vehicle manufacturing and high demand for electric
vehicles in emerging economies such as China and Japan. According to the International Energy
Agency’s Global EV Outlook, China held the largest market share for electric vehicles in 2016
accounting for over 40% of the electric cars sold globally, which includes over 200 million electric
two-wheelers and over 300,000 electric buses. This factors are expected to propel the growth of
the regional remote vehicle diagnostics market by 2025.
Remote Vehicle Diagnostics Market: Competitive Background
Major players operating in the global remote vehicle diagnostics market include Robert Bosch
GmbH, Continental AG, Delphi Automotive PLC, Onstar LLC (subsidiary of General Motors), Snap-
On Inc., Magneti Marelli, Softing AG, VOXX International Corporation, Vector Informatik, and
Vidiwave Ltd.
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