Automotive over the Air Updates Market Trends indicates that the global OTA market will grow at a CAGR of 18.72% during the period 2022-2030. The global Automotive over the air updates Industry Revenue is expected to rise from USD 2.89 Billion in 2021 to USD 14.47 Billion by 2030.
The detailed study of the Automotive over the Air Updates Market Trends indicates that the global OTA market will grow at a CAGR of 18.72% during the period 2022-2030. The global Automotive over the air updates Industry Revenue is expected to rise from USD 2.89 Billion in 2021 to USD 14.47 Billion by 2030.
Over-the-air updates provide new firmware, software, and other updated services through the cloud. Initially, these updates were available for smartphones only. Owing to the rapid increase in the number of connected automobiles across the world and surge in the use of software in vehicles, the Automotive over the Air Updates Market Growth has been substantial in recent times.
Earlier, the automobile software updates were done by the conventional methods where the car or vehicle was sent to the local mechanic or dealer for software updates. With technical advancements, the Automotive over the air updates market demand is rising and the market is expected to show steady growth during the forecast period.
Like many other industries across the globe, the growth of the Automotive over the air updates industry was hindered due to the onset of the COVID-19 pandemic. Strict lockdown measures have hampered production and created logistics problems.
During the pandemic times, the industry leaders had taken initiatives to use critical information like a list of nearby healthcare centers/hospitals, contact information, and reference information for people with primary symptoms of COVID-19, etc.
However, there is a continuous rise in the demand for automobiles especially electric vehicles due to their eco-friendly features. The Automotive over the air updates market is expected to revive and experience significant growth between 2022 and 2030.
Market experts predict that the global automotive OTA Market will grow significantly in the coming years. With the increase in the number of connected vehicles and increasing dependency of vehicles on software for efficient working, the Automotive Over the Air Market Growth will be substantial within the forecast period.
The automobile over-the-air upgrades are costly. Additionally, there is a lack of infrastructure needed for such over-the-air upgrades for automobiles. These two factors are the main restrains for the growth of the global Automotive over the Air Updates industry.
The demand for connected cars is continuously rising. Connectivity on wheels offers convenience, safety, comfort, and security by using a powerful network system. Thus, it is possible to have real-time solutions on the move. With more people becoming tech-savvy, the surge in the demands for connectivity solutions, and increased dependency on new technology will create new opportunities for the Automotive over the Air Updates Market. Increasing government initiatives and the development of commercial sectors across the globe would contribute to the rapid growth of this sector.
The cyber-attacks and hacking of software are the major challenges for the growth of the Automotive over the air Updates Market during the forecast period 2022-2030.
As per the Automotive over the air updates industry Forecast based on the studies and analysis done by the market experts, the Automotive over the air updates Market is anticipated to have revenue of USD 14.47 Billion by 2030. The market is expected to grow at a CAGR of 18.47%. Owing to an increase in demand, investments in Research & Development, stringent cyberspace rules, and new explorations, the market is expected to have steady growth in the coming years.
It has been noticed that the value chain analysis of the Automotive over the air updates market is continuously evolving. The rising demand for connectivity in vehicles, increased use of electric and hybrid vehicles, strict implementation of cyber security laws, huge investments in Research & Development would help the OTA industry to have steady growth from 2022 to 2030.
The segmentation of the Automotive over the air updates Market is done based on vehicle type, propulsion, technology, application, and regions.
Based on the region, the Automotive over the air updates market is segmented into North America, Europe, South America, Asia-Pacific, and the Middle East & Africa.
The North American region is occupying the largest Automotive over the Air Updates Market Share. The Asia-Pacific region is anticipated to have the fastest growth by 2030.
The European and the Asia-Pacific region are projected as the lucrative regions for the Automotive Over the Air Updates Industry in the coming years. Key market players are investing a huge amount of money to offer real-time automobile solutions against cyber threats.
In the European region, new cyber security law is going to be mandatory for all types of vehicles from July 2022. In the Asia-Pacific region, Japan and South Korea are implementing cyber security rules. Additionally, Cyber security engineering standard, ISO/SAE 21434, Road Vehicles is going to be set in the automotive industry. All these will contribute boost the growth of the Automotive Over the Air Updates Market by 2028.
According to the Automotive Over the Air Updates Market Analysis, the global market has regional, international, and local vendors thus making the market highly competitive. The companies are continuously trying to retain their Automotive over the air market Share by launching new products, acquisitions & mergers, and business expansions. The important companies in the market are-
The overview of the Automotive Over-The-Air Updates Market Report is given below.
The scope of this OTA Industry report is to provide valuable information by performing a detailed study of the market. According to this report, the rise in the numbers of connected vehicles and increasing use of software in automobiles has created huge Automotive over the air updates market opportunities. The report also provides important information like market segmentation, recent trends, challenges, growth forecast, key players, and CAGR value of the Automotive over the air updates market. The information given in this report is collected from many primary and secondary data sources.
Based on Propulsion
Based on Vehicle Type
Based on Technology Used
Based on Application
|Market Size||2030: USD 14.47 billion|
|CAGR||18.72% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By Application, By Vehicle type, By Propulsion|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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, BlackBerry QNX Software Systems Limited, Garmin Ltd., and Intellias Ltd.|
|Key Market Opportunities||
|Key Market Drivers||
The market growth in the coming years can be at a rate of 18.72%.
Market for Automotive OTA Updates is expected to touch a valuation of USD 14.47 billion by the end of 2030.
The notable companies in the market are Continental AG, Infineon Technologies AG, NXP Semiconductors N.V, HARMAN International, Garmin Ltd., Qualcomm Incorporated, Intel Corporation, Robert Bosch GmbH, Verizon Communications, Inc., Intellias Ltd, BlackBerry QNX Software Systems Limited, Airbiquity Inc, Aptiv, HERE Technologies, to mention a few.
Over-the-air update refers to a method of distributing new firmware, software, as well as other update facilities over cloud.
With the constantly expanding automotive industry, the market in North America managed to take the lead in the year 2018.
The primary vehicle types discussed in the MRFR report are Passenger Car, Light Commercial Vehicle as well as Heavy Commercial Vehicle.
The types of technology analyzed in the report are Firmware Over-The-Air [FOTA] along with Software Over-The-Air [SOTA]
The OTA process is self-explanatory in that it delivers updated software wirelessly or 'over the air'. These updates are distributed over WiFi or mobile broadband using a function built into the smartphone or tablet's operating system or through a special OTA app that's given root access.