Electric Vehicle (EV) Remote Diagnostics Market to grow at a CAGR of 28.11% from 2022 to 2027; Driven by the reduction of battery pack prices | Analysis on Impact of US Crisis - Technavio

NEW YORK, March 16, 2023 /PRNewswire/ -- According to Technavio, the global electric vehicle remote diagnostics market size is estimated to grow by USD 1,905.56 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 28.11% during the forecast period. The decline in prices of battery packs is the notable driver for the growth of the market during the forecast period. This will prompt the manufacturers in China to develop Li-ion batteries for electric vehicles (EV) at a competitive price compared to lead-acid batteries. The electric vehicle remote diagnostics market was valued at USD 358.27 million in 2017.

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Electric Vehicle Remote Diagnostics Market - Segmentation Assessment
Segment Overview

Technavio has segmented the market based on application (passenger cars and commercial vehicles), type (equipment and software), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

• The market share growth of the passenger cars segment will be significant during the forecast period. Telematics services are in high demand in the electric vehicle segment. Rising customer demands for uninterrupted travel and simultaneous connectivity are driving demand for remote diagnostics and telematics in vehicles.

Geography Overview
By geography, the global electric vehicle remote diagnostics market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electric vehicle remote diagnostics market.

• APAC is estimated to contribute 60% of the global market growth during the forecast period. Technavio's analysts detail the regional trends and factors that will shape the market during the forecast period. Countries like China and Japan enhance their contribution to APAC in the electric vehicle (EV) remote diagnostics market. Increasing contributions from countries such as India and Indonesia during the forecast period should further benefit the market. 

Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Electric Vehicle Remote Diagnostics Market – Vendor Analysis

The electric vehicle remote diagnostics market is fragmented with the presence of several vendors. BAIC Motor Corp. Ltd., Bayerische Motoren Werke AG, Chongqing Changan Automobile Co. Ltd., Ford Motor Co., General Motors Co, Hyundai Motor Co., Kia Motors Corp., Li Auto Inc., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault SA, Tata Motors Ltd., Tesla Inc., Toyota Motor Corp., Volkswagen AG, Volvo Car Corp., XPeng Inc., Honda Motor Co. Ltd., and Stellantis NV are some of the major vendors in the market.

Electric Vehicle Remote Diagnostics Market – Market Dynamics

Leading trends influencing the market 

The increasing popularity of remote diagnostic services on electric buses is a major market trend expected to fuel the market during the forecast period. Inspired by this, bus manufacturers and telematics service providers are developing solutions to make electric buses more efficient. For instance, ViriCiti offers multiple packages to monitor electric buses designed to suit the needs of a wide range of customers. Hence, factors like these further support the electric vehicle remote diagnostics market growth during the forecast period. 

Major challenges hindering the market growth

A major challenge to market growth is the subscription cost associated with electric vehicle remote diagnostic services. The electric vehicle remote diagnostics market relies on low cost because these applications use the same telematics controllers and hardware components as other connected car products. Therefore, bundling remote diagnostics with other connected car products is particularly important for OEMs. Vendors offer remote vehicle diagnostics as an optional product to allow buyers to choose the connected applications they use most. For example, OnStar offers its OnStar security plan with remote access for USD 34.99 per month, while the basic plan without remote access costs USD 24.99 per month.  

Insights on market drivers, trends, & challenges, historic period(2017 to 2021) and forecast period(2023 to 2027) - Request a sample report!

What are the key data covered in this Electric Vehicle Remote Diagnostics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electric vehicle remote diagnostics market between 2023 and 2027
• Precise estimation of the size of the electric vehicle remote diagnostics market size and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the electric vehicle remote diagnostics market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electric vehicle remote diagnostics market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric vehicle remote diagnostics market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global electric vehicle remote diagnostics market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Passenger cars - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Passenger cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Passenger cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)

• 6.4 Commercial vehicles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Equipment - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Equipment - Year-over-year growth 2022-2027 (%)

• 7.4 Software - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 55: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 US - Market size and forecast 2022-2027 
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 93: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 BAIC Motor Corp. Ltd. 
• Exhibit 108: BAIC Motor Corp. Ltd. - Overview
• Exhibit 109: BAIC Motor Corp. Ltd. - Business segments
• Exhibit 110: BAIC Motor Corp. Ltd. - Key offerings
• Exhibit 111: BAIC Motor Corp. Ltd. - Segment focus

• 12.4 Bayerische Motoren Werke AG 
• Exhibit 112: Bayerische Motoren Werke AG - Overview
• Exhibit 113: Bayerische Motoren Werke AG - Business segments
• Exhibit 114: Bayerische Motoren Werke AG - Key news
• Exhibit 115: Bayerische Motoren Werke AG - Key offerings
• Exhibit 116: Bayerische Motoren Werke AG - Segment focus

• 12.5 Ford Motor Co.
• Exhibit 117: Ford Motor Co. - Overview
• Exhibit 118: Ford Motor Co. - Business segments
• Exhibit 119: Ford Motor Co. - Key news
• Exhibit 120: Ford Motor Co. - Key offerings
• Exhibit 121: Ford Motor Co. - Segment focus

• 12.6 General Motors Co
• Exhibit 122: General Motors Co - Overview
• Exhibit 123: General Motors Co - Business segments
• Exhibit 124: General Motors Co - Key news
• Exhibit 125: General Motors Co - Key offerings
• Exhibit 126: General Motors Co - Segment focus

• 12.7 Honda Motor Co. Ltd.
• Exhibit 127: Honda Motor Co. Ltd. - Overview
• Exhibit 128: Honda Motor Co. Ltd. - Business segments
• Exhibit 129: Honda Motor Co. Ltd. - Key news
• Exhibit 130: Honda Motor Co. Ltd. - Key offerings
• Exhibit 131: Honda Motor Co. Ltd. - Segment focus

• 12.8 Hyundai Motor Co.
• Exhibit 132: Hyundai Motor Co. - Overview
• Exhibit 133: Hyundai Motor Co. - Business segments
• Exhibit 134: Hyundai Motor Co. - Key news
• Exhibit 135: Hyundai Motor Co. - Key offerings
• Exhibit 136: Hyundai Motor Co. - Segment focus

• 12.9 Mercedes Benz Group AG 
• Exhibit 137: Mercedes Benz Group AG - Overview
• Exhibit 138: Mercedes Benz Group AG - Business segments
• Exhibit 139: Mercedes Benz Group AG - Key offerings
• Exhibit 140: Mercedes Benz Group AG - Segment focus

• 12.10 Mitsubishi Motors Corp. 
• Exhibit 141: Mitsubishi Motors Corp. - Overview
• Exhibit 142: Mitsubishi Motors Corp. - Business segments
• Exhibit 143: Mitsubishi Motors Corp. - Key offerings
• Exhibit 144: Mitsubishi Motors Corp. - Segment focus

• 12.11 Renault SA
• Exhibit 145: Renault SA - Overview
• Exhibit 146: Renault SA - Business segments
• Exhibit 147: Renault SA - Key offerings
• Exhibit 148: Renault SA - Segment focus

• 12.12 Stellantis NV
• Exhibit 149: Stellantis NV - Overview
• Exhibit 150: Stellantis NV - Business segments
• Exhibit 151: Stellantis NV - Key news
• Exhibit 152: Stellantis NV - Key offerings
• Exhibit 153: Stellantis NV - Segment focus

• 12.13 Tata Motors Ltd.
• Exhibit 154: Tata Motors Ltd. - Overview
• Exhibit 155: Tata Motors Ltd. - Business segments
• Exhibit 156: Tata Motors Ltd. - Key news
• Exhibit 157: Tata Motors Ltd. - Key offerings
• Exhibit 158: Tata Motors Ltd. - Segment focus

• 12.14 Tesla Inc.
• Exhibit 159: Tesla Inc. - Overview
• Exhibit 160: Tesla Inc. - Business segments
• Exhibit 161: Tesla Inc. - Key news
• Exhibit 162: Tesla Inc. - Key offerings
• Exhibit 163: Tesla Inc. - Segment focus

• 12.15 Toyota Motor Corp.
• Exhibit 164: Toyota Motor Corp. - Overview
• Exhibit 165: Toyota Motor Corp. - Business segments
• Exhibit 166: Toyota Motor Corp. - Key news
• Exhibit 167: Toyota Motor Corp. - Key offerings
• Exhibit 168: Toyota Motor Corp. - Segment focus

• 12.16 Volkswagen AG
• Exhibit 169: Volkswagen AG - Overview
• Exhibit 170: Volkswagen AG - Business segments
• Exhibit 171: Volkswagen AG - Key offerings
• Exhibit 172: Volkswagen AG - Segment focus

• 12.17 Volvo Car Corp.
• Exhibit 173: Volvo Car Corp. - Overview
• Exhibit 174: Volvo Car Corp. - Business segments
• Exhibit 175: Volvo Car Corp. - Key offerings
• Exhibit 176: Volvo Car Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

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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.

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