Automotive Over-The-Air (OTA) Update Market Astonishing Growth in Coming Years

PUNE, MAHARASHTRA, INDIA, February 8, 2024 /EINPresswire.com/ -- According to HTF Market Intelligence, the Global Automotive Over-The-Air (OTA) Update market to witness a CAGR of 19% during the forecast period (2024-2030) The latest study released on the Global Automotive Over-The-Air (OTA) Update Market by HTF MI evaluates market size, trend, and forecast to 2030.

The Automotive Over-The-Air (OTA) Update market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include:

Continental AG (Germany), Delphi Automotive (United Kingdom), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Airbiquity Inc. (United States), HERE Technologies (Netherlands), Harman International Industries, Inc. (United States), NXP Semiconductors N.V.(Netherlands), Verizon Communications, Inc.(United States), Tesla, Inc. (United States), Infineon Technologies AG (Germany), General Motor Company (United States)

According to HTF Market Intelligence, the global Automotive Over-The-Air (OTA) Update market is valued at USD Million in 2023 and estimated to reach a revenue of USD Million by 2030, with a CAGR of 19% from 2023 to 2030.

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Definition:

Automotive Over-The-Air (OTA) updates refer to the capability of updating software and firmware in a vehicle's electronic control units (ECUs) remotely, without the need for physical intervention or a visit to a service center. This technology allows automakers to send updates and patches to vehicles wirelessly, much like software updates for smartphones or other electronic devices.
OTA updates in the automotive industry are increasingly becoming a standard practice as vehicles become more reliant on software for various functions, such as engine control, infotainment systems, safety features, and autonomous driving capabilities

Market Trends:

The growing integration of connected car technologies and the Internet of Things (IoT) in vehicles was a key driver for the adoption of OTA updates.
As more vehicles became equipped with advanced telematics and communication systems, the ability to remotely update software became more crucial.

Market Drivers:

Modern vehicles are equipped with sophisticated electronic systems and software to support various functions such as infotainment, advanced driver-assistance systems (ADAS), connectivity features, and autonomous driving capabilities.
The complexity of in-vehicle software creates a need for efficient ways to update and manage these systems, driving the adoption of OTA updates.

Market Opportunities:

Offering OTA updates allows automakers to provide a better and more dynamic user experience. Vehicle owners can receive new features, performance improvements, and bug fixes without the need for a physical visit to a service center. This continuous enhancement can contribute to higher customer satisfaction and brand loyalty.

Key Development Activities :

In July 2021, Private equity firm Tritium Partners announced the acquisition of eMotorWerks, a provider of smart charging solutions for electric vehicles. Tritium Partners expects the acquisition to help it expand its offerings in the electric vehicle market, including OTA updates. In 2021, Tesla released several software updates for its vehicles, including a Full Self-Driving (FSD) beta update, which allows Tesla vehicles to navigate certain roads and intersections without the need for driver intervention.
Tesla was a forerunner in the automotive industry in terms of OTA updates, and it continues to roll out new features and updates for its vehicles via OTA

Target Audience:

New Entrants/Investors
Analysts and Strategic Business Planners
New Entrants and Investors
Government Bodies
End-Users
Others

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The Global Automotive Over-The-Air (OTA) Update Market segments and Market Data Break Down are illuminated below:

Global Automotive Over-The-Air (OTA) Update Market Breakdown by Application (Telematics Control Unit (TCU), Electronic Control Unit (ECU), Infotainment, Safety & Security, Others) by Technology Type (Firmware Over-The-Air (FOTA), Software Over-The-Air (SOTA)) by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV)) and by Geography (North America, South America, Europe, Asia Pacific, MEA)

Global Automotive Over-The-Air (OTA) Update market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

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Objectives of the Report

• -To carefully analyze and forecast the size of the Automotive Over-The-Air (OTA) Update market by value and volume.
• -To estimate the market shares of major segments of the Automotive Over-The-Air (OTA) Update
• -To showcase the development of the Automotive Over-The-Air (OTA) Update market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Automotive Over-The-Air (OTA) Update market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Automotive Over-The-Air (OTA) Update
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Automotive Over-The-Air (OTA) Update market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Major highlights from Table of Contents:

Automotive Over-The-Air (OTA) Update Market Study Coverage:

• It includes major manufacturers, emerging player’s growth story, and major business segments of Automotive Over-The-Air (OTA) Update market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.

• Automotive Over-The-Air (OTA) Update Market Executive Summary :

• It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Automotive Over-The-Air (OTA) Update Market Production by Region Automotive Over-The-Air (OTA) Update Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.

• Key Points Covered in Automotive Over-The-Air (OTA) Update Market Report:

• Automotive Over-The-Air (OTA) Update Overview, Definition and Classification Market drivers and barriers
• Automotive Over-The-Air (OTA) Update Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Automotive Over-The-Air (OTA) Update Market
• Automotive Over-The-Air (OTA) Update Capacity, Production, Revenue (Value) by Region (2023-2030)
• Automotive Over-The-Air (OTA) Update Supply (Production), Consumption, Export, Import by Region (2023-2030)
• Automotive Over-The-Air (OTA) Update Production, Revenue (Value), Price Trend by Type {Firmware Over-The-Air (FOTA), Software Over-The-Air (SOTA)}
• Automotive Over-The-Air (OTA) Update Manufacturers Profiles/Analysis Automotive Over-The-Air (OTA) Update Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered

How feasible is Automotive Over-The-Air (OTA) Update market for long-term investment?
What are influencing factors driving the demand for Automotive Over-The-Air (OTA) Update near future?
What is the impact analysis of various factors in the Global Automotive Over-The-Air (OTA) Update market growth?
What are the recent trends in the regional market and how successful they are?

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