Dublin, June 15, 2021 (GLOBE NEWSWIRE) -- The "Automotive Over-The-Air Updates Market Research Report: By Type, Propulsion, Vehicle Type, Application - Global Industry Revenue Forecast Report, 2030" report has been added to ResearchAndMarkets.com's offering.
More than 1.3 million people die in road crashes every year, says the World Health Organization (WHO). As a result, countries, especially those in Europe, are mandating the integration of advanced safety features in automobiles. This is to be the key factor behind the growth of the global automotive over-the-air updates market from $2,422.6 million in 2020 to $13,859.5 million by 2030, at a 19.5% CAGR between 2021 and 2030, according to the market research report.
This is because the safety features, including advanced emergency braking, intelligent speed assistance, lane keeping assist, tire pressure monitoring system, and emergency stop signal, are activated by mini-computer systems embedded in vehicles. As a result, regular software updates become necessary to keep them running smoothly and protect them against cyberattacks. In this regard, another reason the automotive OTA updates market is growing is that this way, the process becomes easier than taking the vehicle to the garage or the authorized dealer.
The COVID-19 pandemic has led to the halted manufacturing and reduced sales of automobiles, as lockdowns and movement restrictions have been implemented to keep the infection spread under check. As a result, the demand for updated automotive software has declined, thereby hurting the industry. However, post the pandemic, the automotive OTA updates market is expected to resurge on account of the rise in the adoption of digital keys, voice and gesture control, and other advanced technologies in automobiles.
Throughout this decade, the automotive OTA updates market is likely to be dominated by the passenger vehicle bifurcation, based on vehicle type. With an increase in the disposable income of people, the sale of mid-range and luxury passenger cars with advanced features, such as speech recognition, driver monitoring, eye tracking, virtual assistance, natural language interfaces, and gesture recognition, is rising. As these systems depend on software, the need to update it is high.
The telematics control unit (TCU) category, under segmentation by application, is set to witness the highest CAGR in the automotive OTA updates market, of 20.3%, in the years to come. With the increasing number of advancements in connected vehicles, the application of TCU is widening. The TCU handles wireless monitoring, communication to/from the vehicle, diagnostics, crash warning, eCall, vehicle tracking, and electronic tolling functions. This is why it requires regular software updates to ensure that the mandated vehicle and passenger safety standards are met.
North America dominated the automotive OTA updates market in the past on account of the burgeoning sales of connected vehicles. In addition, with vehicles being made compatible with smartphones, the integration rate of navigation, vehicle networking, entertainment, and communication features has surged. Moreover, automakers and automotive software providers are investing heavily in the creation of advanced mobility solutions.
In the near future, the automotive OTA updates market is projected to grow the fastest in Asia-Pacific (APAC). As most of the road crash fatalities occur in developing countries, regional governments are making the installation of safety features in automobiles mandatory. Further, the increasing adoption of shared electric mobility and autonomous and connected vehicles is resulting in the rising demand for software updates via the OTA channel.
The most-prominent companies in the global automotive OTA updates market are Robert Bosch GmbH, AT&T Inc., Continental AG, NXP Semiconductors N.V., Aptiv PLC, Infineon Technologies AG, Verizon Communications Inc., DENSO CORP., H Qualcomm Incorporated, and ARMAN International Industries Inc.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Incorporation of smart, connected technologies
4.3.1.2 Adoption of AI technology
4.3.2 Drivers
4.3.2.1 Simplification of the vehicle upgradation process
4.3.2.2 Introduction of new vehicle safety norms
4.3.2.3 Increasing R&D with respect to connected car technologies
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Vulnerability to hacking and other cyberattacks
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Potential growth opportunities in developing economies
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
4.5 Impact of COVID-19 on the Industry
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.2 By Propulsion
5.3 By Vehicle Type
5.4 By Application
5.5 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Type
6.2 By Propulsion
6.3 By Vehicle Type
6.4 By Application
6.5 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Type
7.2 By Propulsion
7.3 By Vehicle Type
7.4 By Application
7.5 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Type
8.2 By Propulsion
8.3 By Vehicle Type
8.4 By Application
8.5 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Type
9.2 By Propulsion
9.3 By Vehicle Type
9.4 By Application
9.5 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Type
10.2 By Propulsion
10.3 By Vehicle Type
10.4 By Application
10.5 By Country
Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Competitive Benchmarking of Key Players
11.3 Recent Strategic Developments of Market Players
11.3.1 Product and Service Launches
11.3.2 Mergers and Acquisitions
11.3.3 Partnerships
11.3.4 Other Developments
Chapter 12. Company Profiles
12.1 Robert Bosch GmbH
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 DENSO CORP.
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.2.3 Key Financial Summary
12.3 NXP Semiconductors N.V.
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.3.3 Key Financial Summary
12.4 Infineon Technologies AG
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.4.3 Key Financial Summary
12.5 Continental AG
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.5.3 Key Financial Summary
12.6 Verizon Communications Inc.
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.6.3 Key Financial Summary
12.7 Qualcomm Incorporated
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.7.3 Key Financial Summary
12.8 AT&T Inc.
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.8.3 Key Financial Summary
12.9 HARMAN International Industries Inc.
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.10 Aptiv PLC
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary
Chapter 13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/3a3lmn