Press release
Global Automotive Over-The-Air (OTA) Updates Market 2024 Latest Trends, New Technologies, Recent Development And Forecast To 2033
Automotive Over-The-Air (OTA) Updates Market
The Business Research Company offers in-depth market insights through Automotive Over The Air OTA Updates Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Surging Passenger Vehicle Demand Fuels Growth In The Automotive Over-The-Air (OTA) Updates Market
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.
Competitive Landscape:
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
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Top Trend - Strategic Collaborations Transforming The Automotive Over-The-Air (OTA) Updates Market
Major companies operating in the automotive over-the-air updates market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in June 2023, Airbiquity Inc., a US-based software company, announced a collaboration with BlackBerry Limited, a Canada-based software company. The collaboration aims to enhance the security of over-the-air (OTA) updates for vehicles. The collaboration integrates Airbiquity's OTAmatic Software Management Platform with BlackBerry Certicom Code Signing Key Management Server, offering a turnkey solution for automakers to implement the Uptane Security Framework. This framework addresses key OTA security challenges, ensuring safety against various threats as vehicles become more software-defined. The partnership aims to provide a pre-integrated solution, reducing development efforts and costs for automotive OEMs while prioritizing the security and privacy of connected vehicles. The OTAmatic platform offers efficient management of software updates, targeting, privacy controls, customizable communications, and multi-layer cybersecurity protection. The collaboration leverages BlackBerry Certicom's expertise in applied cryptography and key management, instilling confidence in OEMs to adopt the Uptane Security Framework for secure and timely OTA updates.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Over The Air OTA Updates Market Characteristics
3. Automotive Over The Air OTA Updates Market Trends And Strategies
4. Automotive Over The Air OTA Updates Market - Macro Economic Scenario
5. Automotive Over The Air OTA Updates Market Size And Growth
…..
27. Automotive Over The Air OTA Updates Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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