LONDON--(EON: Enhanced Online News)--Technavio’s latest report on the global commercial vehicle remote diagnostics market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
“Remote diagnostics can also be extended to formulate marketing strategies. OEMs have committed to safeguarding the privacy of customer data and vehicle data because information regarding driving patterns and usage of technologies within the car can be a very valuable source for tailoring custom-designed marketing communications for the user”
Siddharth Jaiswal, a lead analyst from Technavio, specializing in research on automotive electronics sector, says, “The market for remote diagnostics, which is largely dependent on the rapidly growing automotive telematics market, is likely to be driven by established network connectivity infrastructure. This is the reason why it is still predominant only in the developed regions. Connected vehicles use the internet to connect the vehicle to its surroundings.”
The continuous development of fleet management solutions and the rise in the adoption of the same by fleet operators should figure as a constant driver for remote vehicle diagnostics in the commercial vehicle category.
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The top four emerging trends driving the global commercial vehicle remote diagnostics market according to Technavio automotive research analysts are:
- Remote diagnostics beyond vehicular systems' performance
- Development of next-generation telematics protocol
- Advanced analytics on telematics data to reduce risk severity
- Evolution of automotive remote diagnostics to prognostics in passenger cars
Remote diagnostics beyond vehicular systems' performance
Remote diagnostics can be extended to report road infrastructure issues in the future. Vehicles fitted with cameras can detect problems in certain roads if the vehicle travels frequently, and the remote diagnostic system can be extended to report infrastructure issues to infrastructure providers or the concerned government body.
“Remote diagnostics can also be extended to formulate marketing strategies. OEMs have committed to safeguarding the privacy of customer data and vehicle data because information regarding driving patterns and usage of technologies within the car can be a very valuable source for tailoring custom-designed marketing communications for the user,” according to Siddharth.
Development of next-generation telematics protocol
Next-generation telematics protocol (NGTP) is a technology neutral protocol or approach toward developing telematics solutions. It was introduced by BMW and telematics service vendors like WirelessCar (Volvo Group) and Connexis. The goal was to provide a standardized platform to design more flexible and scalable telematics systems.
OEMs like Volvo have already provided an open platform that can be used to develop telematics solutions for different stakeholders. They have exposed some of the application interfaces from their solution that can be utilized by other vendors to develop telematics solutions.
Advanced analytics on telematics data to reduce risk severity
Customers are reluctant to use connected features in vehicles due to fear of cyber-attacks that may result in a breach of data privacy. To attain transparency in data, companies have started applying advanced analytics to telematics data. Automotive companies are focusing on understanding customer needs and delivering personalized solutions in a completely connected environment.
Advances in computing technology and the emergence of new digital data sources have reinvented the core disciplines of insurers. Creative sourcing of data and distinctive analytics methods are likely to provide a competitive advantage for vehicle insurance. Real-time data monitoring and visualization is changing the relationship between insurers and customers.
The key vendors are as follows:
- Vector Informatik
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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