A just released report puts a high growth number on remote diagnostics, which could have significant impact on the independent automotive aftermarket.
The automotive remote diagnostic system market is expected to grow at a CAGR of +16% during the forecast period of 2018 to 2023 says QY Reports.
According to a brief on the Global Automotive Remote Diagnostics Market Research Report, “remote vehicle diagnostics is a key telematics application in tapping significant potential revenue from the aftersales period of the vehicle.”
While details on the report were not available, the brief did state that “This has turned out to be the best available means to boost ROI on several new technology offerings, such as telematics applications and services or connected car offerings.
“The vehicle manufacturers are focusing on implementing remote diagnostics as a business model to explore this untapped revenue potential source. This growth in the telematics market will be a key growth driver for the remote vehicle diagnostics market during the forecast period.”