Westford, USA,, March 22, 2023 (GLOBE NEWSWIRE) -- The Automotive Over-The-Air (OTA) Updates market is poised to witness remarkable growth in North America and Asia Pacific. This growth can be attributed to escalating vehicle complexity, rising consumer demand for new features, enhanced cyber security, and cost-effectiveness. Furthermore, modern vehicles are becoming increasingly complex, comprising multiple electronic systems and software components that require regular maintenance and updates.
SkyQuest's latest global research findings reveal that the global electric vehicle market is steadily rising and is expected to grow significantly by 2030. This positive trend in the electric vehicle market indicates growth potential for related industries, such as the Automotive Over-The-Air (OTA) Updates market. This technology enables automakers to remotely update software, diagnose issues, and fix bugs without requiring the vehicle to be taken to a service center. This is especially important for electric vehicles with fewer mechanical components and heavily rely on software.
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Browse in-depth TOC on "Automotive Over-The-Air (OTA) Updates Market"
- Pages - 244
- Tables - 87
- Figures - 76
The automotive over-the-air (OTA) updates market is becoming increasingly important in today's time due to the growing complexity of vehicles and the need for software updates to fix bugs, add new features, and enhance security. OTA updates enable automakers to quickly and remotely update the software on their vehicles, providing customers with a better ownership experience and reducing the cost and time associated with traditional recall campaigns.
Prominent Players in Automotive Over-The-Air (OTA) Updates Market
- Airbiquity Inc.
- Apple Inc.
- AT&T Inc.
- BlackBerry Limited
- Bosch Software Innovations GmbH
- Cisco Systems, Inc.
- Continental AG
- Delphi Automotive PLC
- DENSO Corporation
- Elektrobit Automotive GmbH
- Excelfore Corporation
- FCA US LLC
- Ford Motor Company
- General Motors
- HARMAN International Industries, Inc.
- IBM Corporation
- Jaguar Land Rover Limited
- LG Electronics Inc.
- Nokia Corporation
- Tesla, Inc.
Infotainment Application Segment to Drive Higher Sales as These Batteries are Mostly Used in EVs for Their Long Cycle Life and Fast Charging Capabilities
According to a recent analysis, the lithium-ion batteries segment emerged as a significant contributor to the rapid development of the Automotive Over-The-Air (OTA) Updates market in 2021. This trend is expected to continue from 2022 to 2030 as the segment retains its dominance in the market. This dominance and growth is attributed to the increasing demand for advanced in-vehicle entertainment systems that provide multimedia streaming, voice recognition, and real-time traffic updates. The growing popularity of smartphone integration systems such as Apple CarPlay and Android Auto is also expected to drive the demand for OTA updates in the infotainment segment.
Research analysis indicates that North America is expected to significantly contribute to the Automotive Over-The-Air (OTA) Updates market between 2022 and 2030. This growth can be attributed to several factors, such as the increasing presence of global players, the escalating disposable income of consumers, and the surging demand for advanced automotive technologies and connected vehicles. As per SkyQuest's report, the need for OTA updates is projected to keep increasing in North America, driven by the rising demand for electric vehicles and autonomous driving technologies.
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Electric Vehicle Type Segment to Exhibit Strong Growth Due to the High Demand for Software Updates
In 2021, the Electric Vehicle Type segment emerged as the dominant method in the Automotive AI Repair Services market and is projected to maintain its lead from 2022 to 2030. The rise in electric vehicles on the road is expected to fuel the demand for software updates, and maintenance is essential to ensure that the vehicle operates efficiently and safely. This trend underscores the growing importance of catering to the unique needs of EVs in the Automotive Over-The-Air (OTA) Updates market, enabling businesses to tap into a lucrative market and gain a competitive edge.
The Automotive Over-The-Air (OTA) Updates market has witnessed a significant surge in the Asia Pacific region, and it is anticipated to retain its leadership position until 2030. This remarkable growth is primarily attributable to a surge in production, technological advancements, an upsurge in disposable incomes, and augmented sales of electric vehicles across the region. As per SkyQuest's study, the Asia Pacific region is poised to hold the most significant share in the global OTA updates market by 2025, with Japan and China leading the way in demand.
The Automotive Over-The-Air (OTA) Updates market has undergone a thorough analysis in a recent report, which covers the significant players in the industry, as well as collaborations, mergers, innovative business policies, and strategies. The report provides valuable insights into the key trends and major breakthroughs in the market, along with an examination of the market share of the top segments and a detailed geographic analysis. Lastly, the report showcases the major players in the industry and their endeavors to develop innovative solutions to meet this demand.
Key Developments in Automotive Over-The-Air (OTA) Updates Market
- Global mobility technology firm ECARX Holdings, Inc. announced a merger agreement with COVA Acquisition Corp. ("COVA"), with plans to become a publicly listed company on Nasdaq under the ticker symbol "ECX" following the completion of the transaction.
- Mahindra Electric Mobility's merger with Mahindra & Mahindra has been sanctioned by the Mumbai bench of the National Company Law Tribunal (NCLT). With a growing emphasis on electric vehicles (EVs), the proposed consolidation will unify the complete automotive value chain of the Anand Mahindra-led group under a single entity..
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Key Questions Answered in Automotive Over-The-Air (OTA) Updates Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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