Press release
Automotive Over-The-Air (OTA) Updates Market Analysis, Trends, Growth, Research And Forecast 2033
Automotive Over-The-Air (OTA) Updates Market
The Business Research Company presents an extensive market research report on the Automotive Over-The-Air (OTA) Updates Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automotive over-the-air (OTA) updates market size has grown rapidly in recent years. It will grow from $3.7 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to connected car adoption, rising complexity of automotive software, customer demand for advanced features, reduced downtime and service costs, competitive pressure and differentiation.
The automotive over-the-air (OTA) updates market size is expected to see rapid growth in the next few years. It will grow to $8.49 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to autonomous and connected vehicle trends, increasing complexity of in-vehicle systems, integration of advanced infotainment systems, cybersecurity concerns and threats, and subscription-based business models. Major trends in the forecast period include data analytics and predictive maintenance, security and cybersecurity measures, expansion of connected car technologies, integration of advanced diagnostics and analytics, edge computing for faster updates.
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Key Market Players:
Major companies operating in the automotive over-the-air (OTA) updates market report are Verizon Communications Inc., Robert Bosch GmbH, Intel Corporation, DENSO Corporation, Qualcomm Technologies Inc., Continental AG, NVIDIA Corporation, Lear Corporation, Thales Group, Aptiv, Infineon Technologies AG, NXP Semiconductors N.V., Harman International Industries Incorporated, Garmin Ltd., Luxoft Inc., Red Hat Inc., Elektrobit Automotive GmbH, HERE Technologies, Intellias Ltd., Telenor Connexion AS, Sierra Wireless Inc., Blackberry QNX Ltd., Green Hills Software LLC, Arynga Inc., Cubic Telecom Limited, Airbiquity Inc., Cybellum Technologies Ltd., Wind River Systems Inc., Karamba Security Ltd., Symphony Teleca Corporation
Market Drivers:
Rising demand for passenger vehicles is significantly contributing to the growth of the automotive over-the-air (OTA) updates market going forward. A passenger vehicle refers to a motor vehicle that can carry a person or a group of persons, commonly used for the transportation of people. Automotive over-the-air updates are used in passenger and commercial vehicles for remote delivery of software update to eliminate the need to visit a dealership or mechanic and instead enhances the driving experience and makes the roads safer by increasing operational safety. For instance, in June 2021, according to the report published by OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association for vehicles, global passenger car sales increased from 53.91 million in 2020 to 56.39 million in 2021. Therefore, the rising demand for passenger vehicles is expected to propel the growth of the automotive over-the-air (OTA) updates market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/automotive-over-the-air-ota-updates-global-market-report
The automotive over-the-air (OTA) updates market covered in this report is segmented -
1) By Technology Type: Firmware Over-the-Air (FOTA), Software Over-the-Air (SOTA)
2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Electric Vehicles
3) By Application: Telematics Control Unit, Electronic Control Unit, Infotainment, Safety And Security
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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