Automotive over the Air Updates Market Trends indicates that the global OTA market will grow at a CAGR of 18.72% during the period 2022-2028. The global Automotive over the air updates Industry Revenue is expected to rise from USD 2.89 Billion in 2021 to USD 14.47 Billion by 2028.
Automotive Over-The-Air (OTA) Updates Market Overview
Automotive Over-The-Air (OTA) Updates Market experts predict that the global automotive OTA Market will grow significantly in the coming years. With the increase in the number of connected vehicles and increasing dependency of vehicles on software for efficient working, the Automotive Over the Air Market Growth will be substantial within the forecast period. The regions included in the study are North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to grow at a significant rate in the global automotive over-the-air (OTA) updates market during the forecast period. The growing demand for connected electric vehicles and the available infrastructure is expected to boost the growth of the automotive OTA updates market in North America.
The increasing focus on introducing innovative and efficient printing materials to provide lightweight spare parts, reducing material wastage and lowering the turnaround time is driving the expansion of the global Automotive Over-The-Air (OTA) Updates market. The increasing government support for research and development in 3D printing technology is likely to impact positively on the growth of the global Automotive Over-The-Air (OTA) Updates market.
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Globally Major key Players accelerates the Automotive Over-The-Air (OTA) Updates Market are,
- Robert Bosch GmbH
- NXP Semiconductors N.V
- Verizon Communications Inc.
- Continental AG
- Infineon Technologies AG
- Qualcomm Incorporated
- Intel Corporation
- HARMAN International
- Airbiquity Inc
- HERE Technologies
- BlackBerry QNX Software Systems Limited
- Garmin Ltd
- Intellias Ltd
Most important Segments of Automotive Over-The-Air (OTA) Updates market covered in this report are,
The Global Automotive Over-The-Air (OTA) Updates Market has been segmented based on Technology, Application, Propulsion, Vehicle Type, and Regions.
- Firmware Over-The-Air [FOTA]
- Software Over-The-Air [SOTA]
- Electronic Control Unit (ECU)
- Safety & Security
- Telematics Control Unit (TCU)
- Electric Vehicle
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Automotive Over-The-Air (OTA) Updates Industry Influence of the global market report:
- Comprehensive assessment of all opportunities and risks in the Automotive Over-The-Air (OTA) Updates Market.
- Automotive Over-The-Air (OTA) Updates Market recent innovations and major events.
- A detailed study of business strategies for the growth of the Automotive Over-The-Air (OTA) Updates Market market-leading players.
- Conclusive study about the growth plot of Automotive Over-The-Air (OTA) Updates Market for forthcoming years.
- In-depth understanding of Automotive Over-The-Air (OTA) Updates Market, market-particular drivers, constraints, and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Automotive Over-The-Air (OTA) Updates Market.
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The global Automotive Over-The-Air (OTA) Updates market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.
Automotive Over-The-Air (OTA) Updates Market Regional Analysis
The Global Automotive Over-The-Air (OTA) Updates Market is growing at a significant pace and is also expected to register a high growth rate in the future. This is due to the rising adoption of connected cars around the globe and an increase in the number of connected devices. Currently, there are several global technology players who have entered the automotive OTA updates market. These providers are investing significantly in research and development to offer secured and cost-effective OTA updates solutions to the car manufacturers. The market is dominated by a few major players; however, new players are expected to enter the market due to revenue opportunities in regions such as Asia-Pacific, the Middle East & Africa, and South America. The entry of new players is expected to increase the competition in the market.
Automotive Over-The-Air (OTA) Updates market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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