Automotive Over-the-Air Updates Market will reach an estimated valuation of USD 9.01 billion by 2027 while registering this growth at a rate of 18% for the forecast period of 2021 to 2027.
Over-the-air updates are a way to distribute new software, firmware, and other update features through the cloud. Until recently, OTA updates were only available for smartphones. However, the need for OTA updates has increased significantly as the number of connected cars worldwide has skyrocketed and vehicles are more dependent on software. For a long time, software updates were done through a local software update procedure, and the car was sent to a dealer/mechanic to update the software. Tesla Motors has started offering OTA capabilities to electric vehicles, which has disrupted the automotive industry. Since then, other global automakers such as BMW, Mercedes-Benz, and General Motors have started investing in providing OTA capabilities for connected cars. OTA updates are expected to help OEMs save significant amounts of money resulting from car recalls. Additionally, car owners can easily update any software without having to visit the dealer’s location.
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Market Segments
Based on Type
- Software
- Firmware
Based on Propulsion
- Internal Combustion Engine (ICE)
- Electric
Based on Application
- Telematics Control Unit (TCU)
- Infotainment System
- Electronic Control Unit (ECU)
Key Players
Some of the Key Players in the 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, Aptiv, HERE Technologies, BlackBerry QNX Software Systems Limited, Garmin Ltd., and Intellias Ltd.
Scope of the Report
The research study analyzes the global Automotive Over-the-Air Updates industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Automotive Over-the-Air Updates Market Report
1. What was the Automotive Over-the-Air Updates Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
2. What will be the CAGR of the Automotive Over-the-Air Updates Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Automotive Over-the-Air Updates Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Automotive Over-the-Air Updates market.
- The market share of the global Automotive Over-the-Air Updates market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Automotive Over-the-Air Updates market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Automotive Over-the-Air Updates market.
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