The Europe vehicle remote diagnostic market is forecasted to expand at 14.4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of USD 1,810.2 million in 2023 and USD 6,001.1 million by 2033.
The Europe region is currently suffering from an extreme deficit of drivers. As a result, manufacturers of LVC and MCV, i.e., light commercial vehicles and medium commercial vehicles, are improving the safety features of their automotives. Due to the rising restrictions from different authorities, governments as well as the environment, the scope of electrically charged steering is accelerating in Europe.
Steering electrification of LCVs and MCVs is springing forth with driver and safety assistance functionalities like active cruise control, lane centering assist, etc., thus fueling the market growth.
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The market is also being propelled by the increasing rate of road accidents and crashes. 6% of car accidents in Europe are caused by malfunctioning vehicles or other vehicle-associated equipment, as per the Association of Advancement of Automotive Medicine. The use of an appropriate vehicle remote diagnostic helps in detecting malfunctioning vehicle components.
Remote vehicle health diagnostic systems like Blue Link by Hyundai and SYNC by Ford have these features. The aforementioned system provides information related to the operational status of different vehicle components.
Technological innovations like the incorporation of the Internet of Things (IoT) and telematics are inducing market growth. These technologies assist users to engage with the linked car ecosystems to provide a better and more comfortable driving experience.
Various factors like the increasing demand for luxury and sports vehicles and excessive research and development activities to enhance passenger safety, are expected to propel the market even more.
Top Highlights from the FMI’s Analysis of the Europe Vehicle Remote Diagnostic Market:
- The United Kingdom is expected to gain a significant portion of more than 9.8% of the Europe vehicle remote diagnostic industry in 2023. The United Kingdom is expected to register a CAGR of 10.4% over the next 10 years.
- Germany market gained an 8.2% market share in Europe market in 2022. The market is projected to propel at a CAGR of 9.2% in the upcoming years.
- France market acquired a 5.4% market share of Europe region in the year 2022.
- Italy vehicle remote diagnostic industry acquired a 4.4% market share in 2022.
- Spain’s vehicle remote diagnostic industry is anticipated to expand at a significant rate of 14.4% CAGR over the forecast period.
- Based on the solution, the vehicle remote diagnostic software (ECU diagnostic software) procured 55.9% in 2022.
- Based on vehicle type, the heavy commercial vehicle obtained 59.6% market share in 2022.
Key Players Operating in the Market
- MAHLE Aftermarket GmbH
- Herth+Buss
- Astech
- Autologic Diagnostic
- Bosch Automotive
- Vector Informatik
- ACTIA Group
- Jifeline Remote Diagnostic BV
Innovation Watch: Key Developments in the Market
- Continental released Autodiagnos Drive, a remote vehicle data solution in November 2021. The solution is intended to provide progressive diagnostic information that fleet managers, service providers, and repair facilities can deploy to optimize their data-driven services.
- Hella Gutmann created a Cyber Security Management (CSM) feature in its diagnostic devices in July 2021. This feature provides authentication with gateways, consequently facilitating robust diagnostic checks for diverse vehicle types.
- Snap-on delivered a software upgrade for its diagnostic tools in April 2021. This upgrade permits professional technicians to access the full potential of their diagnostic platform to boost their productivity and tackle the toughest obstacles quickly.
A Full Report Analysis:
https://www.futuremarketinsights.com/reports/europe-vehicle-remote-diagnostic-market
Europe Vehicle Remote Diagnostic Market Outlook by Category
By Solution:
- Vehicle Remote Diagnostic Software (ECU Diagnosis Software)
- Remote Diagnostic Services
- ECU Programming
- ECU SW Download & Support
- Component Coding & Fixing
- Others
By Vehicle Type:
- Passenger & Light Commercial Vehicle
- Heavy Commercial Vehicle
By Engine Type:
- Internal Combustion Engine
- Electric/ Hybrid Engine
By Country:
- Germany
- Italy
- France
- The United Kingdom
- Spain
- BENELUX
- Norway
- Sweden
- Denmark
- Finland
- Poland
- Russia
- Rest of Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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