Global Automotive Over-The-Air (OTA) Updates Market Highlights over 2022 – 2030
The global automotive over-the-air (OTA) updates market is estimated to grow at a CAGR of ~18% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for connected devices in the vehicle, along with the rapid penetration of internet services. OTA updates are the software updates distributed wirelessly to the already purchased vehicles. Moreover, the growing demand for advanced systems and software in vehicles, such as infotainment and telematics systems, is estimated to boost the market growth. Additionally, OTA provides quick, time-saving, and cost-effective updates for the electronic control units of the cars, remotely over-the-air, eliminating the need to visit a service center. This is another major factor estimated to encourage the market growth.
Get more information on this report: Download Sample PDF
Moreover, the major factors driving the market growth include increasing sales of electric cars, along with the rising demand to protect the vehicle software from hacking and malfunctioning. According to the data by the International Energy Agency (IEA), in 2020 the global electric car stock reached 10 million, registering a 43% increase over 2019. The sale of EV was 2% of total sales of cars globally, with more than 2,008,024 BEVs sold in 2020.
The market is segmented by vehicle type into passenger cars, electric vehicles, light commercial vehicles, heavy commercial vehicles, and others, out of which, the electric vehicles segment is anticipated to hold the largest share in the global automotive over-the-air (OTA) updates market over the forecast period. This can be attributed to the easy availability of OTA features in electric vehicles. In fact, Tesla was one of the first automotive manufacturing companies to provide OTA updates over 3G and Wi-Fi. Such factors are anticipated to boost the market growth.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam.
Global Automotive Over-The-Air (OTA) Updates Market Regional Synopsis
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. According to the report by IEA, over 231,088 battery-powered electric vehicles were sold in the US in 2020. Moreover, penetration of internet services in the region, along with adoption of advanced technology, are expected to boost the market growth. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of presence of major automotive manufacturers in the countries, such as, Japan, China, and India.
-Updates-Market-Share.jpg)
Get more information on this report: Download Sample PDF
The global automotive over-the-air (OTA) updates market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global automotive over-the-air (OTA) updates market includes the following segments:
By Vehicle Type
- Passenger Cars
- Electric Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
By Technology
- Firmware over-the-air (FOTA)
- Software over-the-air (SOTA)
By Application
- Infotainment System
- Telematics Control Unit (TCU)
- Electronic Control Unit (ECU)
- Safety & Security
- Others
Growth Drivers
- Growing Demand for Advanced Software and System in the Vehicle
- Increasing Penetration of Internet Services
Challenges
- Lack of Supporting Infrastructure in Developing Countries
- High Production Cost
Top Featured Companies Dominating the Market
- Robert Bosch GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Verizon Communications Inc.
- Continental AG
- Infineon Technologies AG
- Qualcomm Incorporated
- Intel Corporation
- HARMAN International
- Airbiquity Inc
- HERE Technologies
- BlackBerry QNX Software Systems Limited
