NEW
YORK, Sept. 27, 2024 /PRNewswire/ -- Report with
the AI impact on market trends - The Global Electric Vehicle Remote
Diagnostics Market size is estimated to grow by USD 4.10 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
39.04% during the forecast period. Reducing battery
pack prices boosting EV demand is driving market
growth, with a trend towards growing popularity of remote
diagnostics services in electric buses
However, subscription cost associated with EV remote
diagnostics services poses a challenge - Key market players
include AB Volvo, Beijing Automotive Group Co. Ltd., Bayerische
Motoren Werke AG, Chongqing Changan Automobile Co. Ltd., Ford Motor
Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co.,
KIA CORP., Li Auto Inc., Mahindra and Mahindra Ltd., Mercedes Benz
Group AG, Mitsubishi Motors Corp., Renault SAS, Stellantis NV, Tata
Motors Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG.
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AI-powered analysis. Explore trends, segmentation, and growth
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Electric Vehicle
Remote Diagnostics Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
39.04%
|
Market growth
2024-2028
|
USD 4104.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
29.04
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 64%
|
Key
countries
|
China, US, Germany,
France, and Japan
|
Key companies
profiled
|
AB Volvo, Beijing
Automotive Group Co. Ltd., Bayerische Motoren Werke AG, Chongqing
Changan Automobile Co. Ltd., Ford Motor Co., General Motors Co.,
Honda Motor Co. Ltd., Hyundai Motor Co., KIA CORP., Li Auto Inc.,
Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Mitsubishi
Motors Corp., Renault SAS, Stellantis NV, Tata Motors Ltd., Tesla
Inc., Toyota Motor Corp., and Volkswagen AG
|
Market Driver
Electric buses are experiencing increasing popularity worldwide,
particularly in China, due to
substantial investments and initiatives to expand their usage and
infrastructure. The demand for electric buses is growing among both
public and private sectors, and this trend is anticipated to
continue. The adoption of electric buses for public transportation
is on the rise globally. In response, bus manufacturers and
telematics service providers are developing solutions to enhance
the efficiency of electric buses. For instance, ViriCiti offers
various packages for monitoring electric buses, catering to diverse
customer requirements. These packages focus on operational
improvement, driver behavior, and maintenance. The maintenance
package is particularly noteworthy as it enables maintenance teams
and OEMs to identify technical failures remotely, reducing costs
and preventing issues. This package includes a remote diagnostic
tool that pinpoints the exact location of a faulty battery cell or
vehicle component. Similarly, bus manufacturers are developing
remote diagnostic solutions to improve maintenance options,
contributing to the expansion of the global electric vehicle remote
diagnostics market.
The Electric Vehicle (EV) Remote Diagnostics market is
experiencing significant growth due to the increasing popularity of
automotive remote diagnostics in both passenger and commercial
vehicles. This trend is driven by the use of wireless networks like
3G, 4G, Wi-Fi, and Bluetooth for real-time communication between
diagnostic equipment and automobile systems. Computer software
enables vehicle performance analysis, identifying failures in
real-time, and providing vehicle health alerts. Fleet operators and
commercial vehicle suppliers benefit from data collection, service
downtime reduction, and component defect identification. The
Internet of Things (IoT) and telematics play a crucial role in
creating connected car ecosystems, enhancing the driving experience
for luxury and sports vehicles. Safety and security are prioritized
with automatic crash notification, vehicle location tracking, and
roadside assistance. Advanced sensors and communication
technologies enable predictive maintenance and AI-driven predictive
analytics for battery health monitoring and other maintenance
needs. As 5G technology emerges, it will further enhance the
capabilities of remote diagnostics. Human-Machine Interface and IoT
technologies ensure seamless interaction between vehicle owners and
their vehicles. However, cybersecurity risks necessitate robust
security measures to protect sensitive vehicle data. Automakers
must address these challenges to provide reliable and secure remote
diagnostic solutions for their customers.
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Market Challenges
- The electric vehicle (EV) remote diagnostics market is
experiencing significant growth due to the increasing popularity of
EV telematics applications and services. Remote diagnostic services
are often included in bundled offerings of connected car services,
utilizing the same telematics control units and hardware
components. OEMs can earn revenues through subscriptions by
bundling remote diagnostics with other connected car offerings.
However, customer reluctance to pay for these services,
particularly in price-sensitive markets, poses a challenge. To
increase uptake, some EV variants offer remote diagnostics as
optional services with customized pricing strategies. Vendors must
optimally price their subscription packages to attract a wider
customer base, but this may add to the overall cost of connected
car offerings. For example, OnStar offers its OnStar safety and
security plan with remote access for USD34.99 per month, while the base plan without
remote diagnostics is priced at USD24.99. Price-sensitive customers may opt for
the base package, potentially hindering the growth of the electric
vehicle remote diagnostics market.
- The Electric Vehicle (EV) Remote Diagnostics market is
experiencing significant growth due to the increasing adoption of
EVs and the integration of Internet of Things (IoT) and telematics
in the automotive industry. However, challenges persist in this
market. Data collection from advanced sensors and communication
technologies in EVs can be complex, leading to service downtime and
component defects. Connected car ecosystems, including luxury and
sports vehicles, require real-time vehicle health alerts and
predictive analytics for maintenance. Fleet operators and
commercial vehicle suppliers benefit from EV remote diagnostics,
but cybersecurity risks and human-machine interface design are
bottlenecks. Automakers must address these challenges using AI,
predictive analytics, and 5G technology to improve the driving
experience, ensure safety and security, and provide vehicle
tracking and battery health monitoring for vehicle owners.
Bluetooth and vehicle electrification are also key considerations
in this market.
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Segment Overview
This electric vehicle remote diagnostics market report
extensively covers market segmentation by
- Application
- 1.1 Passenger cars
- 1.2 Commercial vehicles
- Type
- 2.1 Equipment
- 2.2 Software
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Passenger cars- The Electric Vehicle (EV)
Remote Diagnostics Market is experiencing significant growth due to
increasing demand for efficient and cost-effective maintenance
solutions. This market allows automakers and fleet operators to
monitor EV health in real-time, identify potential issues, and
perform diagnostic checks remotely. This not only reduces downtime
but also enhances customer satisfaction and safety. Key players in
this market include Bosch, Continental AG, and Delphi Technologies,
who are investing heavily in developing advanced remote diagnostic
systems for EVs.
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are reshaping competitive dynamics
Research Analysis
Electric Vehicle (EV) remote diagnostics refer to the use of
wireless networks and diagnostic equipment to monitor and analyze
vehicle performance in real-time. This technology enables
automakers to identify and address failures and maintenance needs
proactively, reducing downtime and enhancing the overall EV
ownership experience. The automotive industry is rapidly embracing
this technology as part of the vehicle electrification and
connected-car ecosystem. EV remote diagnostics cover various
automobile systems, including battery health monitoring,
human-machine interface, and cybersecurity risks. However,
challenges such as technology bottlenecks and cybersecurity risks
must be addressed to ensure a seamless and secure diagnostic
experience. Real-time monitoring and analysis of vehicle data can
lead to more efficient service time and improved vehicle
performance.
Market Research Overview
Electric Vehicle Remote Diagnostics: Revolutionizing Automotive
Maintenance with Wireless Networks and Computer Software Electric
Vehicle (EV) Remote Diagnostics is a game-changer in the automotive
industry, enabling real-time monitoring and analysis of vehicle
performance through wireless networks and computer software. This
innovative technology allows for automatic crash notification,
vehicle location tracking, roadside assistance, data collection,
and vehicle health alerts. Passenger vehicles and commercial
vehicles alike benefit from this advanced system, with luxury and
sports vehicles also adopting the technology for enhanced safety
and security. Real-time data collection and predictive analytics
enable early identification of component defects and service
downtime, reducing overall maintenance costs and improving the
driving experience. Connected car ecosystems, including IoT
technologies and telematics, play a crucial role in EV Remote
Diagnostics. Communication technologies such as 3G, 4G, Wi-Fi,
Bluetooth, and 5G, as well as advanced sensors, facilitate seamless
data transfer and analysis. Fleet operators and commercial vehicle
suppliers are major adopters of this technology, ensuring optimal
fleet performance and reducing downtime. However, cybersecurity
risks associated with IoT technologies and connected cars are a
significant concern, necessitating robust security measures.
Battery health monitoring is a critical application of EV Remote
Diagnostics, ensuring the longevity and efficiency of electric
vehicle batteries. Human-Machine Interface (HMI) and AI
technologies further enhance the user experience, providing vehicle
owners with valuable insights and alerts. Despite its numerous
benefits, challenges such as technology bottlenecks, cybersecurity
risks, and vehicle electrification remain key considerations for
automakers and industry stakeholders. The future of EV Remote
Diagnostics lies in the integration of advanced technologies and a
focus on enhancing the driving experience while ensuring safety and
security.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Cars
- Commercial Vehicles
- Type
-
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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