Automotive Over-The-Air (OTA) Updates Market Valuable Growth 2030
Research Nester published a report titled “Automotive Over-The-Air (OTA) Updates Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global automotive over-the-air (OTA) updates market in terms of market segmentation by vehicle type, technology, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global automotive over-the-air (OTA) updates market is anticipated to attain a CAGR of ~18% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of vehicle type into passenger cars, electric vehicles, light commercial vehicles, heavy commercial vehicles, and others. Out of these, the electric vehicles segment is anticipated to hold the largest share over the forecast period owing to the increasing demand for electric vehicles, along with incorporation of advanced OTA features in electric vehicles.
The global automotive over-the-air (OTA) updates market is estimated to grow on the back of growing demand for connected devices in the vehicle, along with the growing demand for advanced systems and software in vehicles, such as infotainment and telematics systems. Moreover, rising sale of electric vehicles is estimated to boost the market growth. OTA updates are the software updates distributed wirelessly to the already purchased vehicles. This is further estimated to boost the market growth.
On the basis of geographical analysis, the global automotive over-the-air (OTA) updates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing adoption of electric vehicles in developed countries, such as, the U.S. and Canada, along with the rising penetration of internet. According to the report by IEA, over 231,088 battery-powered electric vehicles were sold in the US in 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Demand for Electric Vehicles to Boost the Market Growth
According to the data by the International Energy Agency (IEA), more than 2,008,024 BEVs were sold in 2020.
The growing demand for electric vehicles, backed by growing environment awareness is estimated to boost the market growth. Moreover, the rising demand to protect the vehicle software from hacking and malfunctioning, and incorporation of advanced technology in the vehicle, are expected to fuel the market growth.
However, absence of proper infrastructure to promote OTA updates is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive over-the-air (OTA) updates market which includes company profiling of Robert Bosch GmbH, Continental AG, Infineon Technologies AG, Qualcomm Incorporated, Verizon Communications Inc., Intel Corporation, HARMAN International, Airbiquity Inc., HERE Technologies, and BlackBerry QNX Software Systems Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive over-the-air (OTA) updates market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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