Middle East & Africa Commercial Vehicle Remote Diagnostics Market Size & Outlook
Middle East & Africa commercial vehicle remote diagnostics market, 2018-2030 (US$M)
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MEA commercial vehicle remote diagnostics market highlights
- The MEA commercial vehicle remote diagnostics market generated a revenue of USD 176.1 million in 2023.
- The market is expected to grow at a CAGR of 8% 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.
MEA data book summary
| Market revenue in 2023 | USD 176.1 million |
| Market revenue in 2030 | USD 301.8 million |
| Growth rate | 8% (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, MEA region accounted for 3.3% 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 Middle East & Africa commercial vehicle remote diagnostics market based on hardware covering the revenue growth of each sub-segment from 2018 to 2030.
Middle Eastern countries such as Saudi Arabia, Qatar, United Arab Emirates (UAE), Kuwait, and Oman are prospering economies.
The medical devices outsourcing market in the MEA region is likely to grow at a steady rate in the coming years.
High disease burden, increasing privatization, and increase in penetration of health insurance are factors primarily responsible for the growth of the market in this region.
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Commercial Vehicle Remote Diagnostics Market Scope
Commercial Vehicle Remote Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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