Global Automotive Over-the-Air (OTA) Market is Anticipated to Accumulate US$ 17 Billion by 2031, Expanding at a 16.4% CAGR: TMR Report

Wilmington, Delaware, United States, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The global market for automotive over-the-air (OTA) was estimated to have acquired US$ 4.3 billion in 2022. It is anticipated to advance with a rapid 16.4% CAGR from 2023 to 2031 and by 2031, the market is likely to total US$ 17 billion.

Automakers want a method to rapidly and securely maintain and update the software in their vehicles with this growing complexity. OTA updates give users a way to accomplish this without having to physically visit service centers.

Software updates are being immediately sent to automobiles by automakers to solve performance problems, bugs, and security flaws, increasing overall functionality and dependability. The value of the automotive Over-the-Air (OTA) business is being driven by the development in software complexity for automobiles.

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Market Snapshot:

Key Findings of the Market Report

• In 2022, the software over-the-air (SOTA) technology category retained a dominant position.

• The need for various forms of automobile Over-the-Air (OTA) is influenced by the goals of the automaker, the systems of the car, and the degree of technological acceptance.

• Customers anticipate that their automobiles will have the same degree of connection and software functionality as their smartphones and other gadgets.

• Infotainment systems, navigation, and other in-car technology are always becoming better and getting new capabilities thanks to over-the-air (OTA) upgrades from the auto industry.

• Higher customer satisfaction and brand loyalty may result from improved user experiences.
  

Market Trends for Automotive Over-the-Air (OTA)

• During the forecast period, the telematics control unit application segment is projected to dominate the market. The segment's expansion can be attributed to an uptick in demand for real-time data analytics.

• Infotainment systems can receive new features, interface upgrades, and compatibility improvements via OTA updates, keeping them current with the newest technological trends.

• Map data updates included in OTA updates serve to guarantee that navigation systems have the most recent routes, maps, and points of interest. OTA updates help to improve the Advanced Driver-assistance System's (ADAS) functionality and safety by offering new algorithms and performance improvements
  

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Automotive Over-the-Air (OTA) Market Regional Outlook
Various reasons are propelling the growth of the Automotive Over-the-Air (OTA) market in different regions. These are:

• North America is anticipated to hold the majority of the share from 2023 to 2031. A significant market for OTA in the region is the United States of America. The market dynamics in North America are being driven by the expansion of the automotive industry and the increased attention of regulatory bodies on cybersecurity requirements and laws connected to OTA updates.

• The automotive Over-the-Air (OTA) market statistics in Europe aredriven by the presence of major automakers like BMW, Mercedes-Benz, and Volkswagen and the explosion in adoption of sophisticated car networking capabilities. The region's increased demand for OTA is also being fueled by the implementation of strict cybersecurity legislation.

• The increased use of electric vehicles (EVs) along with connected car technologies is expected to cause the market in Asia Pacific to expand quickly throughout the projected period. China is a significant market for OTA updates, with a large number of EV producers and IT firms providing cutting-edge software solutions. The existence of businesses that actively employ OTA technology, including Hyundai and Toyota, is accelerating market development in South Korea as well as Japan.
  

Global Automotive Over-the-Air (OTA) Market: Key Players

The global industry is dynamic and developing, with degrees of acceptance varied across areas. To boost the automotive over-the-air (OTA) market share, the majority of businesses are developing strategic partnerships with other firms. The following companies are well-known participants in the global automotive over-the-air (OTA) market:

• Robert Bosch GmbH
• NXP Semiconductors N.V.
• Verizon Communications Inc.
• Continental AG
• Infineon Technologies AG
• Qualcomm Incorporated
• Intel Corporation
• Apple Inc.
• ATS Advanced Telematic Systems GmbH
• Google Inc.
• NVIDIA Corporation
• HARMAN International
• Airbiquity Inc.
• BlackBerry Limited
• Other Key Players
  

Key developments in the global market for automotive over-the-air (OTA) are:

• A software startup located in India called Cyient unveiled CyientfIQTM in March 2022 as a FOTA update solution for offering complete solutions for firmware upgrades in a variety of sectors.

• Ford Motor Company, a United States.-based automaker, teamed up with Google LLC in February 2021 to increase the usage of OTA updates.

• Mercedes-Benz and NVIDIA announced intentions to cooperate in June 2020 with the goal of developing a ground-breaking in-vehicle computer system and AI computing infrastructure.
  

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Global Automotive Over-the-Air (OTA) Market Segmentation

• Technology
  • Firmware Over-the-Air (FOTA)
  • Software Over-the-Air (SOTA)
• Application
  • Telematics Control Unit
    • Telecommunication Applications
    • Real-time Data Analytics
  • Electronic Control Unit
  • Infotainment
  • Safety & Security
  • Others
• Vehicle Type
  • Passenger Cars
    • Hatchbacks
    • Sedans
    • Utility Vehicles
  • Light Commercial Vehicles
  • Heavy Duty Trucks
  • Buses and Coaches
  • Others
• Electric Vehicle Type
  • Battery Electric Vehicles (BEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Plug-in Hybrid Electric Vehicles (PHEVs)
• Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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