North America Is Dominating Automotive OTA Updates Market

The global automotive OTA updates market is projected to be worth USD 13,959.5 million by 2030, growing at a CAGR of 19.7%. This growth can be ascribed to the surging count of connected cars and EVs. With the fast development in the count of these automobiles, which rely mainly on progressive software, the need for OTA updates remains to surge. As a result, OEMs are spending on technologies that update the automotive software wirelessly, to permit individuals to have their car in the finest working condition.

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In 2022, the software category held the higher revenue share, of 80%, and the category is also projected to be dominant in the future as well. This is mainly because of the improvements in connectivity technology and the arrival of IoT, which have made connectivity between implanted automobile systems and connected devices simpler. This allows the delivery of critical data, like the place of fuel and charging stations and battery and charging status, furthermore easing remote diagnosis for all kinds of connected vehicles.

The growing automotive digitalization indicates that vehicles require consistent software updates, such as cybersecurity updates, to keep up with the newest improvements in connectivity technologies. Instead of recurrently recalling sold vehicles to a garage, it is way more effective and economical to deploy such updates wirelessly, or over the air.

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Furthermore, OTA updates to aid in providing an IoT-enabled atmosphere by advancing functionality, making it simpler to install new features, and permitting devices to stay lengthier in the field. The OTA technology handles software and allows operators wirelessly upgrade the operating firmware from their mobile devices.

In the coming few years, under the propulsion division, the electric category is projected to experience faster development with a CAGR of 28%. This can be credited to the growing government help, in the form of grants and incentives, for the acceptance of electric vehicles and the severe emission guidelines. Furthermore, nearly all-electric vehicles are fortified with cutting-edge connected systems for effective operations and a high level of security and safety.

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In 2022, the North American region dominated the automotive OTA updates market with approximately 37% share, and the region is also projected to be dominant in the future as well, mainly because of the growing acceptance of connected vehicles. The requirement for automobile entertainment, networking, communication, and navigation features has augmented hugely with the rising compatibility of mobile devices with vehicles.

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