Asia Pacific Commercial Vehicle Remote Diagnostics Market Size & Outlook
Asia Pacific commercial vehicle remote diagnostics market, 2018-2030 (US$M)
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Asia Pacific commercial vehicle remote diagnostics market highlights
- The Asia Pacific commercial vehicle remote diagnostics market generated a revenue of USD 1,388.3 million in 2023.
- The market is expected to grow at a CAGR of 8.7% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating type in 2023.
- Hardware is the most lucrative type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,388.3 million |
| Market revenue in 2030 | USD 2,497.0 million |
| Growth rate | 8.7% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Hardware |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware |
| Key market players worldwide | Meritor WABCO, Tech Mahindra, Robert Bosch Engineering & Business Solutions, Continental AG, Harman International, Delphi Technologies |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 26.3% of the global commercial vehicle remote diagnostics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,497.0 million by 2030.
Hardware was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Asia Pacific commercial vehicle remote diagnostics market based on hardware covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific medical device outsourcing market held the largest share 41.3% in 2023 and is expected to witness lucrative growth owing to the availability of several opportunities in this region, especially in Japan, China, and India.
Some of the factors such as improved regulatory framework, high-cost savings, a large number of clinical trials conducted in the region and increase in the number of medical device companies venturing into the region are expected to drive the Asia Pacific market.
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Commercial Vehicle Remote Diagnostics Market Scope
Commercial Vehicle Remote Diagnostics Market Companies
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