Automotive Remote Diagnostics Market Research Report - Global Forecast till 2030

Impact of COVID-19 on the Global Automotive Remote Diagnostics Market

Automotive remote diagnostics refers to the accessing of vehicles from a distance. The increasing implementation and adoption of connected services across vehicle applications, as well as the rising sales of commercial and luxury cars, are responsible for driving the growth of the market. However, the outbreak of COVID-19 has profoundly impacted production activities across various industries, including the automotive industry. The lockdowns imposed by the governments in most countries have resulted in the halting of business operations, which has delayed the production of the vehicles. The closing of all the business operations to prevent the spread of the coronavirus is hindering the growth of the market. China is the leading hub for the production of auto parts. The spread of the pandemic from China has restricted the export of the raw materials to other countries, which is impacting production activities globally and thereby hampering the growth of the market. Additionally, restrictions on the movement of passenger cars across the globe are also adversely affecting the demand for automotive remote diagnostic systems.

Automotive remote diagnostic systems are widely utilized in passenger cars to meet the demand for safety and convenience features. The increasing integration of IoT, and the automotive companies’ focus on reducing maintenance costs, are also responsible for the growth of the market. However, the spread of COVID-19 has slowed down the production of passenger cars, which has resulted in decreasing sales, drastically affecting the growth of the automotive remote diagnostics market. Companies are investing heavily in the European market owing to concerns regarding vehicle performance. The lockdowns imposed by several countries in Europe have significantly impacted the market growth. The resumption of manufacturing plants in Q3 2020 is expected to launch advanced products at full pace, which, in turn, is estimated to drive the market growth.

Production of Commercial Vehicles from 2015 to 2019