Automotive OTA Update Market Opportunities, Strategies For Expansion

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Automotive OTA Update Market Opportunities, Strategies For Expansion

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NikhatS 08 Jul 2024

Automotive OTA Update Market size was valued at US$ 3.30 Bn. in 2022 and the total revenue is expected to grow at 13.72 % through 2023 to 2029, reaching nearly US$ 8.13 Bn.

Automotive OTA Update Market Growth or Demand Increase or Decrease for what contain:

The rising creation of electric vehicles and the rising interest in associated vehicle devices and electric vehicles are the vital variables driving the development of the Global Automotive Over-The-Air (OTA) Market. Automotive OTA innovation enables quick and smart refreshes for the ECU (Electronic Control Units) of the vehicles. Vehicle clients can utilize the OTA to restore programming without the requirement of visiting a help place. These all advantages are supposed to add fuel to the market through the forecast period. Furthermore, the new vehicle security norms are supporting automotive makers to shield vehicle information from obscure hacking and failure, which thus is supposed to build the interest in the Automotive Over-The-Air (OTA) Market. The fast improvement of advanced associated vehicle innovations across the globe is a significant pattern taking care of Automotive Over-The-Air (OTA) Market expansion. These factors are expected to drive the market through the forecast period.

Automotive OTA Update CAGR Estimation:

The World Forum for Harmonization of Vehicle Standards (WP.29) of the United Nations Economic Commission for Europe (UNECE) has laid out two new guidelines that require network safety when new vehicle types are endorsed. The standards apply to traveler vehicles, trucks, transports, and vans, and incorporate details for four particular regions: overseeing digital assaults in cars, tying down vehicles by the plan to lessen gambles all through the worth chain, identifying and answering security issues across an armada of vehicles, as well as giving completely safe programming redesigns and keeping up with vehicle security, as well as laying out a lawful system for over-the-air updates to on-board vehicle programming. These factors are expected to drive the market through the forecast period.

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Automotive OTA Update Market Segmentation:

by Technology Type

Firmware Over-the-Air (FOTA)
Software Over-the-Air (SOTA)

By technology, the market is segmented into Firmware Over-the-Air (FOTA), and Software Over-the-Air (SOTA). The software Over-the-Air (SOTA) segment is expected to dominate the market through the forecast period, as well as it acquired the largest market share in recent years. The development of the automotive SOTA section is supposed to be mostly determined by developing infotainment applications, for example, live traffic refreshes, park help, email applications, and online entertainment applications.

by Application

Telematics Control Unit
Electronic Control Unit
Infotainment
Safety & Security
Others

Automotive OTA Update Market Overview:

Over-the-air (OTA) is a course of moving information or exchanges wirelessly by utilizing the cell network rather than a link or some other nearby association. Over-the-air (OTA) refers to various strategies for conveying new programming, setup settings, firmware, and other updated devices over the cloud. On account of a vehicle, the firmware or programming is refreshed wirelessly utilizing a telecom medium, through a door inside the vehicle to the ECU (Electronic Control Units), whose appearance is expanding in an advanced vehicle. In the car business, the vehicle has become increasingly advanced and smart. moreover, the vehicles are significantly overwhelmed by programming rather than customary mechanical components.

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Automotive OTA Update Market Growth or Demand in which regions??

Based on regional analysis, the North America Market is expected to dominate the market through the forecast period and expected to grow at the highest CAGR through the forecast period. Advancement of the market in the area can be credited to many factors like the rising number of associated vehicle devices in vehicles, the ascent underway of electric vehicles, and normal infotainment and telematics administration updates.

Automotive OTA Update Market Scope and Methodology:

The standards apply to traveler vehicles, trucks, transports, and vans, and incorporate details for four particular regions: overseeing digital assaults in cars, tying down vehicles by the plan to lessen gambles all through the worth chain, identifying and answering security issues across an armada of vehicles, as well as giving completely safe programming redesigns and keeping up with vehicle security, as well as laying out a lawful system for over-the-air updates to on-board vehicle programming. These factors are expected to drive the market through the forecast period.

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Automotive OTA Update Market Key Players

1. Robert Bosch GmbH
2. NXP Semiconductors N.V
3. Verizon Communications Inc.
4. Continental AG
5. Infineon Technologies AG
6. Qualcomm Incorporated
7. Intel Corporation
8. HARMAN International
9. Airbiquity Inc
10. Aptiv
11. HERE Technologies
12. BlackBerry QNX Software Systems Limited
13. Garmin Ltd
14. Intellias Ltd

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Key questions answered in the Market are:

• What is Automotive OTA Update Market ?
• What is the growth rate of the Automotive OTA Update Market?
• Which are the factors expected to drive the Automotive OTA Update market growth?
• What are the different segments of the Automotive OTA Update Market?
• What growth strategies are the players considering to increase their presence in Automotive OTA Update ?
• What are the upcoming industry applications and trends for the Automotive OTA Update Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive OTA Update Market?
• What major challenges could the Automotive OTA Update Market face in the future?
• What segments are covered in the Automotive OTA Update Market?
• Who are the leading companies and what are their portfolios in Automotive OTA Update Market?
• What segments are covered in the Automotive OTA Update Market?
• Who are the key players in the Automotive OTA Update market?

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