Automotive OTA Updates Market: Driving Innovation in Connected Cars
Explore the dynamic landscape of the Automotive OTA Updates market, where Over-the-Air updates are revolutionizing connected cars. Learn how automakers are leveraging OTA technology to enhance vehicle performance, introduce new features, and improve cybersecurity, ensuring a seamless and up-to-date driving experience for consumers.
The global automotive OTA updates market is projected to be worth USD 13,959.5 million by 2030, growing at a CAGR of 19.7%. This growth can be ascribed to the surging count of connected cars and EVs. With the fast development in the count of these automobiles, which rely mainly on progressive software, the need for OTA updates remains to surge. As a result, OEMs are spending on technologies that update the automotive software wirelessly, to permit individuals to have their car in the finest working condition.
In 2022, the software category held the higher revenue share, of 80%, and the category is also projected to be dominant in the future as well. This is mainly because of the improvements in connectivity technology and the arrival of IoT, which have made connectivity between implanted automobile systems and connected devices simpler. This allows the delivery of critical data, like the place of fuel and charging stations and battery and charging status, furthermore easing remote diagnosis for all kinds of connected vehicles.
The growing automotive digitalization indicates that vehicles require consistent software updates, such as cybersecurity updates, to keep up with the newest improvements in connectivity technologies. Instead of recurrently recalling sold vehicles to a garage, it is way more effective and economical to deploy such updates wirelessly, or over the air.
Furthermore, OTA updates to aid in providing an IoT-enabled atmosphere by advancing functionality, making it simpler to install new features, and permitting devices to stay lengthier in the field. The OTA technology handles software and allows operators wirelessly upgrade the operating firmware from their mobile devices.
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In the coming few years, under the propulsion division, the electric category is projected to experience faster development with a CAGR of 28%. This can be credited to the growing government help, in the form of grants and incentives, for the acceptance of electric vehicles and the severe emission guidelines. Furthermore, nearly all-electric vehicles are fortified with cutting-edge connected systems for effective operations and a high level of security and safety.
In 2022, the North American region dominated the automotive OTA updates market with approximately 37% share, and the region is also projected to be dominant in the future as well, mainly because of the growing acceptance of connected vehicles. The requirement for automobile entertainment, networking, communication, and navigation features has augmented hugely with the rising compatibility of mobile devices with vehicles.
Moreover, the OEMs and technology offered in the continent are constantly spending substantial amounts in the making of strong technologies, to entice customers.
Hence, the automotive OTA updates sector is boosted by the surging addition of electronic control systems, navigation systems, antivirus, and other software in vehicles.
This study covers
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings
The research offers market size of the global automotive OTA updates market for the period 2017–2030.
Market Segmentation by Type
Software
Firmware
Market Segmentation by Propulsion
Internal Combustion Engine (ICE)
Electric
Market Segmentation by Vehicle Type
Passenger Vehicle
Commercial Vehicle
Market Segmentation by Application
Telematics Control Unit (TCU)
Infotainment System
Electronics Control Unit (ECU)
Others
Market Segmentation by Region
North America Automotive OTA Updates Market
By type
By propulsion
By vehicle type
By application
By country – U.S. and Canada
Europe Automotive OTA Updates Market
By type
By propulsion
By vehicle type
By application
By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
Asia-Pacific (APAC) Automotive OTA Updates Market
By type
By propulsion
By vehicle type
By application
By country – China, India, Japan, South Korea, Australia, and Rest of APAC
Latin America (LATAM) Automotive OTA Updates Market
By type
By propulsion
By vehicle type
By application
By country – Brazil, Mexico, and Rest of LATAM
Middle East and Africa (MEA) Automotive OTA Updates Market
By type
By propulsion
By vehicle type
By application
By country – Saudi Arabia, South Africa, and Rest of MEA
About the Creator
Pramod Kumar
Pramod has around 7 years of experience in market research and consulting services for healthcare industry.
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