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Automotive OTA Updates Market Was Dominated by North America

02-13-2023 07:01 AM CET | Tourism, Cars, Traffic

Press release from: P&S Intelligence

Automotive OTA Updates Market Was Dominated by North America

As per a report by P&S Intelligence, the total size of the automotive OTA updates market was USD 3,315.8 million in 2022, and reaching USD 13,959.5 million by 2030, powering at a rate of 19.7% by the end of this decade.

This allows for the provision of critical info, including the location of fuel and alleging stations and battery and status of charging, furthermore for easing remote diagnosis for all kinds of connected vehicles.

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Also, the OTA services provided by companies for upgrading vehicle software are secure and fast, resulting in the higher sales.

Passenger vehicles had the larger share, of about 68%, and it will be like this in the future. It will be because of the growing sales of mid-range and premium passenger vehicles with added features, including autonomy.

Moreover, autonomous cars have numerous systems for virtual assistance, eye tracking, driver monitoring, speech recognition, gesture recognition, and natural language interfaces. These systems deeply rely on regular OTA updates for safe operation, which further contributes to the growth of the market.

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Moreover, the OEMs and technology providers are investing considerable amount for the development of advanced technologies, for attracting customers.
Because of the fact that, there is a sharp rise in the count of connected cars and EVs on the roads of cities and also suburbs, the demand for automotive OTA updates will grow at pace in the years to come, all over the world.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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Web: https://www.psmarketresearch.com

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