Global Commercial Vehicle Remote Diagnostics Market 2018-2022 to Post 23% CAGR | Technavio

Technavio analysts forecast the global commercial vehicle remote diagnostics market to grow at a CAGR of over 23% during the forecast period, according to their latest market research report.

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Remote vehicle diagnostics possibility of bringing a disruption of the OEM-dealer relationships is one of the major trends being witnessed in the global commercial vehicle remote diagnostics market 2018-2022. As remote diagnostics allows OEMs to track every aspect of the vehicle in operation, it gives the OEMs a chance to establish a direct and close relationship with the end-customers by passing the dealer channels. This may negatively affect the dealer-customer relationship and may trigger changes in workflow and relationships among various value chain stakeholders. However, industry sources note that dealers are a critical part of the value chain. Hence, the potential adverse effect of the technology on the value chain must be communicated and tackled well while building a business model that caters to the connected vehicle technologies.

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According to Technavio analysts, one of the key factors contributing to the growth of the global commercial vehicle remote diagnostics market is the remote diagnostics in vehicles saving costs for fleet operators:

Global commercial vehicle remote diagnostics market: Remote diagnostics in vehicles result in cost savings for fleet operators

The increasing cost pressure due to fuel price fluctuations and inefficiencies in fleet operations have become major challenges for fleet operators. To efficiently manage cost, fleet operators are working toward optimizing fuel consumption and enhancing fleet management efficiency. To achieve the same, continuous monitoring and improvements to the vehicle engine are needed. Remote diagnostics help in remotely monitoring vehicle components. The data generated by each component acts as a valuable source of information to improve the components design parameters. Remote diagnostics can also help to monitor the driver’s driving style, and the same can be used to train the drivers better.

According to a senior analyst at Technavio for research on automotive electronics, “When a fault is detected in a vehicle’s system, the telematics device sends the necessary information to the user and in some cases even to the OEMs and service centers. Even prior to the occurrence of a fault, the telematics device transmits vehicular data for OEMs to use the big data for other future maintenance or design improvement requirements. The data transmitted is analyzed to discover the faults associated with the system. Once this is done, the customer is notified with detailed information on the service needs, along with the details of the nearest service center. This is achieved as the vehicle’s telematics device and remote diagnostics are integrated with its GPS.”

Global commercial vehicle remote diagnostics market: Segmentation analysis

The global commercial vehicle remote diagnostics market research report provides market segmentation by application (LCVs and HCVs), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The LCVs segment held the largest market share in 2017, accounting for nearly 83% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with a market share of nearly 45%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by nearly 3%.

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