The rail system of today faces multiple challenges surrounding enhanced quality of services, optimized solutions, passenger satisfaction, and fleet availability. The research provides an outlook of growth opportunities for remote diagnostics in the global rail industry. Diagnostic systems are gaining more traction across industries, and with that, rail manufacturers and operators will gradually start to leverage such tools to unbundle the complexities witnessed in the industry. The study discusses the key trends, opportunities, and market forces in remote diagnostics. It also highlights competitive factors and key approaches in the market. The base year of the study is 2014, with forecasts up to 2020.