Over-the-Air (OTA) Market to Witness 16.3% of CAGR by 2028 – The Insight Partners

Posted by niket gore on August 4th, 2022

Over-the-Air (OTA) Update Market to 2028- Global Analysis and Forecast by Type (Software Over-The-Air (SOTA) Update and Firmware Over-The-Air (FOTA) Update); Application (Telematics, Infotainment, Electronic Control Unit, and Others); Vehicle Type (Passenger Vehicle and Commercial Vehicle)

The global over-the-air (OTA) update market accounted for US$ 2,685.6 Mn in 2018 and is expected to grow at a CAGR of 16.3% over the forecast period 2022–2028, to account for US$ 10,346.5 Mn by 2028. The global automotive industry is expanding rapidly across the globe with the rise in the procurement of vehicles across classes. The industry in the US, China, and European countries remained strong over the past five years and is likely to continue to grow exponentially. According to McKinsey, vehicle OEMs are expected to witness profits by more than 50% by 2020. A few of the factors that are expected to shape the automotive industry in the coming years include; stringent regulatory norms, complex and modular platforms, digital technologies, alternative powertrain, modern and robust technologies in the infotainment and safety segment of the vehicles.

Get sample Pdf  :- https://www.theinsightpartners.com/sample/TIPRE00003213/

 

Key findings of the study:

Asia Pacific is the fastest growing region in the over-the-air (OTA) update market. China holding the leading position followed by Japan and South Korea. China dominates the entire Asia-Pacific region in terms of the number of connected cars. Also, being a tech-savvy country, the demand for advanced technologies is an all-time high in the country. This has led to a rise in the procurement of connected cars. Also, the internet connectivity is much significant in the country, which has eased the automotive OEMs and technology providers to provide over-the-air (OTA) updates smoothly. Japan, South Korea, and India, on the other hand, are witnessing a rise in demand for over-the-air (OTA) software updates, which is capitalizing on the over-the-air (OTA) update market in the region.

The over-the-air (OTA) update market is analyzed on the basis of various parameters such as type, application, vehicle type, and geography. The type segment comprises of software over-the-air (SOTA) and firmware over-the-air (FOTA). The application segment in the over-the-air (OTA) update market includes infotainment, telematics, electronic control unit (ECU), and others. The other segment includes safety & security systems, user interface, and user experience apps. The vehicle type segment is bifurcated into passenger cars and commercial vehicles. The over-the-air (OTA) update market is analyzed on basis of five strategic regions namely; North America, Europe, Asia-Pacific (APAC), Africa, and South America (SAM).

List Of Companies  :- The over-the-air

  • Airbiquity Inc.
  • Continental AG
  • Garmin Ltd
  • Harman International
  • Hitachi Automotive Systems, Ltd.
  • Infineon Technologies AG
  • Libelium Comunicaciones Distribuidas S.L
  • NXP Semiconductors N.V.
  • Robert Bosch Gmbh
  • Wind River Systems, Inc.

Asia-Pacific holds the dominant share in the over-the-air (OTA) update market, also is expected to be the fastest growing region across the globe. Australia, China, India, Japan, South Korea, and Rest of Asia Pacific are the major contributors to the over-the-air (OTA) update market in APAC. The region has a more progressive economic outlook than other regions in the world. It has enormous growth potential, with fast-growing countries such as China and South Korea and developed nations such as Japan. Asia Pacific is the fastest growing region in the over-the-air (OTA) update market. The region consists of many developing countries that are witnessing a high growth in their automotive sector. The rise in the adoption of connected cars is directly proportional to the need for software updates. This is catalyzing the growth of the over-the-air (OTA) update market in the European region. BMW, a leading premium car manufacturer in Europe has announced in 2019 to deliver over-the-air (OTA) software updates on selected models. The BMW models outfitted with OS 7.0 will benefit from Remote Software Upgrade features. Apart from OEMs, numerous technology providers operate in the European over-the-air (OTA) update market. Continental AG, a leading automotive component and technology supplier partnered with Volkswagen AG to support OTA updates on all Volkswagen ID electric vehicles. Thus, these factors are expected to create a lucrative business space for the over-the-air (OTA) update market in Europe.

Buy Now  :- https://www.theinsightpartners.com/buy/TIPRE00003213/

 

Market Insights

Accentuating Demand for Advanced Vehicular Technologies

The global automotive industry is experiencing a significant shift from traditional vehicles to smart or connected vehicles that are designed and manufactured with numerous technologies. In the age of high-speed internet and digital technology, and sensor technology, the automotive industry players have profoundly vetted into the connected technology and have been benefitted heavily, as these technologies have attracted a fair percentage of customers. The incorporation of these advanced technologies is leading modern-day vehicles to be smarter/intelligent than before.

Internet Connectivity and Awareness among the Vehicular Customers is Stimulating the OTA Update Market

The in-vehicle infotainment systems are increasingly gaining popularity among almost every vehicle class owner owing to superior experience that they offer. The rising demand for advanced features in infotainment systems is pushing automakers and OTA suppliers to bring innovative products and services. Consumer’s demand for more intuitive technology integration in their infotainment systems is propelling the vehicle manufacturers to equip their vehicles with the latest technologies and features.Which, in turn, is increasing the growth of over-the-air (OTA) update market.

Type Insights

The global over-the-air (OTA) update market, by type, is segmented into software over-the-air (SOTA) update and firmware over-the-air (FOTA) update. Software over-the-air (SOTA) update segment dominated the over-the-air (OTA) update market heavily and is projected to continue its dominance throughout the forecast period from 2019 – 2027.

Application Insights

The over-the-air (OTA) update market, by application, is further segmented infotainment, telematics, electronic control unit, and others. The telematics segment of the over-the-air (OTA) update market dominated the application segment and is anticipated to continue its dominance throughout the forecast period from 2019 – 2027..

Vehicle Type Insights

The over-the-air (OTA) update market, by vehicle type, is further segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment of the over-the-air (OTA) update market dominated the vehicle type and is expected to continue its dominance throughout the forecast period of 2019 – 2027. The rising demand for passenger cars across the globe has attributed to the increasing disposable income among the populations in developed and developing countries.

Exhibit: Asia Pacific Over-The-Air (OTA) Update Market by Type

Strategic Insights

Market initiative is observed to be most adopted strategy in the global over-the-air (OTA) update market. Few of the recent market initiatives are listed below:

2019: NXP Semiconductors and Airbiquity announced the integration of Airbiquity's OTAmatic over-the-air (OTA) software and data management offering with NXP's Vehicle Network Processing (VNP) Evaluation Board (EVB).

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

Like it? Share it!


niket gore

About the Author

niket gore
Joined: July 6th, 2022
Articles Posted: 314

More by this author