The upward trend of vehicle electrification has had a massive and direct influence on growth of the automotive remote diagnostics.

According to Future Market Insights' study, broader trends such as small, locally owned repair shops partnering with insurance firms, leasing firms, and fleet owners, and increased adoption of remote vehicle diagnostic systems will continue to fuel demand for automotive repair and maintenance services.

If Colorado adopts the policies, the manufacturers would be required to make EVs account for about 5 percent of vehicle sales by 2023.

The American Joint Committee on Taxation already anticipates that the federal government will spend $7.5 billion on the current tax credit from 2018 to 2022.