Technological Advancements Driving Growth in the OTA Updates Market

Automotive

posted on 2 years ago — updated on 1 second ago

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The Automotive Over-The-Air Updates Market Size is anticipated to grow and worth USD 14.47 billion again, with a CAGR of 18.72% from 2022 to 2030.

Automotive Over-The-Air (OTA) Updates Market overview

The Automotive Over-The-Air Updates Market Size is anticipated to grow and worth USD 14.47 billion again, with a CAGR of 18.72% from 2022 to 2030. The market gained USD 2.89 billion in 2021. The market will grow further owing to the rising number of connected cars and electric vehicles. Several key players have entered the market, and they will invest significantly in research and development to offer secure and cost-effective OTA updates and solutions to the car. Some regions like North America, Asia Pacific, and others present in those regions are likely to dominate the forecast period. The pandemic has negatively impacted the automotive sector, resulting in a decline in vehicle sales and insufficient raw materials.

Several industry players have faced issues such as a halt in production and disruption of the plant activities ordered by the government impacted the market. The effect of the pandemic was severe, but with the improvement in the situation, the market will gather growth in the forecast period. Increasing demand for electric vehicles and people adopting connected vehicles drive the market. Rising concern for safety and cyber security will foster the market in the forecast period. Increasing government initiatives regarding car technology improvement will improve the market. The lack of infrastructure and the high price of the OTA updates will hinder the market growth. Extensive vehicles are becoming more software dependent which is a growth factor for the Automotive Over-The-Air (OTA) Updates Market Size.

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Automotive Over-The-Air Updates Market Technological Advancement:

The automotive industry is undergoing a transformation with the advent of new technologies such as Over-The-Air (OTA) updates. OTA updates enable automotive manufacturers to remotely update and enhance the software systems of their vehicles, thus improving functionality, security, and overall performance.

The technological advancement of OTA updates is allowing automakers to streamline the process of updating their vehicles' software systems, reducing the need for physical visits to the dealership or service center. With OTA updates, software patches, and bug fixes can be delivered directly to the vehicle over the air, providing a more efficient and convenient method of maintenance.

Another significant technological advancement in the OTA updates market is the use of cloud computing. Cloud computing enables automakers to store and manage large amounts of data, such as software updates, vehicle performance data, and driver preferences, in a centralized location. This data can then be accessed remotely and delivered to vehicles over the air.

Furthermore, the use of advanced analytics and machine learning algorithms is also improving the effectiveness of OTA updates. By analyzing data from connected vehicles, automakers can identify potential issues before they become significant problems and proactively address them with OTA updates.

Finally, the introduction of 5G technology is expected to revolutionize the OTA updates market. 5G networks offer faster download and upload speeds, lower latency, and increased bandwidth, enabling OTA updates to be delivered even more quickly and reliably.

Overall, technological advancements in OTA updates are transforming the automotive industry, enabling automakers to improve vehicle performance and functionality, enhance cybersecurity, and provide a more convenient and efficient customer experience.

Automotive Over-The-Air (OTA) Updates Market segmentation

The Automotive Over-The-Air (OTA) Updates Market Size is segregated by technology, application, propulsion and vehicle type. The market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicles based on the vehicle type. Passenger cars are expected to register high CAGR in the market during the forecast period due to the rise in income levels and meaningful difference in the amount of money spent on automobile safety and the security of private vehicle usage.

The propulsion is fragmented up into ICE and Electric vehicles, and both the segments will hold growth in the forecast period. The application of theAutomotive Over-The-Air (OTA) Updates Market Size is bifurcated into Electronic Control Unit (ECU), Infotainment, Safety & Security, Telematics Control Unit (TCU) and others. Among them, the telematics control unit is expected to hold the CAGR of the market owing to the progress in the number of telecommunication applications. Several automotive manufacturers are offering telematics control units in their vehicles. Based on the technology, the market is further fragmented into Firmware Over-The-Air [FOTA] and Software Over-The-Air [SOTA]. The Software Over-The-Air [SOTA] segment will dominate the Market and register growth due to the applications like live traffic updates, email applications, social media apps and park assist. And others.

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Automotive Over-The-Air (OTA) Updates Market Regional analysis

The Automotive Over-The-Air (OTA) Updates Market Size is analyzed in four regions: North America, Asia Pacific, Europe, and parts of the world. North America will dominate the market in 2018; however, Asia Pacific will dominate the market in the forecast period, and Europe will be in the second position in 2018 in value.

Automotive Over-The-Air (OTA) Updates Market Industry news

The New EVOLVE car model can now receive OTA software updates, and more than 190,000 customers across 34 markets can down the updates. The car is eligible for receiving OTA updates, including the new XC90, S60 and V60, and the electric cars.

Automotive Over-The-Air (OTA) Updates Industry Key Players

· Robert Bosch GmbH

· NXP Semiconductors N.V

· Verizon Communications Inc.

· Continental AG

· Infineon Technologies AG

· Qualcomm Incorporated

· Intel Corporation

· HARMAN International

· Airbiquity Inc

· Aptiv

· HERE Technologies