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• The remote diagnostics market is experiencing significant growth.
• It grew from $43.31 billion in 2023 to $47.88 billion in 2024, with a CAGR of 10.6%.
• Factors driving growth include increased demand for preventive maintenance, higher penetration of connected medical devices, and a rise in IoT-based solutions.

Future Growth Expectations

• The market is expected to reach $72.10 billion by 2028, growing at a CAGR of 10.8%.
• Key drivers include the rising adoption of connected cars, increased demand for luxury vehicles, and concerns about maintenance downtime in automotive vehicles.

Adoption of Connected Cars Fueling Market Expansion

• Connected cars are crucial in driving the remote diagnostics market.
• These vehicles provide Internet connectivity and can communicate with other devices, enhancing convenience, safety, and efficiency.
• Real-time data transmission helps in proactive issue detection, improving safety and potentially saving lives.

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Advancements in Remote Diagnostics with AI

• Companies in the remote diagnostics market are focusing on integrating AI into their systems.
• Real-time telematics and remote diagnostics services are evolving, enabling data-driven, automated tools for auto repair shops.
• For example, Mechanic Advisor and Mojio launched Steermatics in November 2022, the industry’s first solution using real-time telematics data for remote vehicle diagnostics.

KPIT Technologies Expands AI-Driven Diagnostics Platform

• In May 2022, KPIT Technologies acquired SOMIT Solutions to enhance its AI-driven diagnostics platform.
• This acquisition aims to improve after-sales service efficiencies in the automotive sector.
• SOMIT Solutions specializes in cloud-based vehicle diagnostics platforms, further boosting KPIT’s capabilities.

Segmentation of the Remote Diagnostics Market

• Product Type: Software, Diagnostic Equipment
• Connectivity: 3G, 4G LTE, Wi-Fi, Bluetooth
• Application: Roadside Assistance, Vehicle Tracking, Crash Notification, Training Assistance, Other Applications
• Vehicle Type: Commercial Vehicles, Passenger Vehicles

Regional Insights

• North America led the remote diagnostics market in 2023.
• Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, driven by technological advancements and increasing vehicle adoption.

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