Automotive Over-The-Air Updates Market Size is Projected to Reach USD 19.29 billion by 2032 | Driven by Proliferation of Internet-Connected Vehicles | Report by SNS Insider

Austin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Automotive Over-The-Air Updates Market Size is projected to reach USD 19.29 billion by 2032 and grow at a CAGR of 18% over 2024-2032.

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The automotive Over-The-Air (OTA) updates market is rapidly growing due to a combination of technological advancements and changing consumer expectations.

The growing complexity of cars, along with the rise of connected car technologies, requires regular software updates to improve performance, safety, and user satisfaction. Additionally, the growing need for electric vehicles (EVs) is speeding up the use of OTA updates, which allow for important enhancements in battery management systems, charging efficiency, and overall vehicle performance.

Despite experiencing rapid growth, there are still many untapped opportunities in the automotive over-the-air (OTA) updates market.

One potential option is to make money from the vehicle data created by these updates. Through the use of advanced analytics, car manufacturers can gain valuable insights into driving habits, vehicle efficiency, and customer choices. This information has the potential to generate revenue through focused marketing, higher insurance rates, and the creation of innovative services.

Moreover, incorporating OTA updates with new technologies such as AI and ML can create possibilities for predictive maintenance, autonomous vehicles, and tailored user experiences.

Automotive Over-The-Air Updates Market Report Scope & Overview:

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Key segment analysis includes vehicle type, technology, application, and region in order to understand market dynamics.

For instance, the electric vehicle (EV) sector is a key influencer because of its quick acceptance and the important function of software in vehicle performance and battery control. The technology sector, which includes cellular networks, satellite communication, and Wi-Fi, plays a critical role in determining the speed, reliability, and coverage of updates.

In terms of applications, enhancements in infotainment and safety features are becoming more important, influencing consumer expectations and adhering to regulations.

The APAC region is becoming a crucial player in the automotive Over-The-Air (OTA) updates market.

The growing automobile sector, especially in China, India, and South Korea, results in a large number of connected vehicles that require effective software management. Additionally, the prompt addition of electric vehicles and advanced driver assistance systems in the area means that regular OTA updates are required for improving performance and addressing bugs.

Additionally, the growing prevalence of smartphones and strong internet infrastructure has established a solid foundation for smooth OTA delivery.

Market challenges:

The large amount of data required for OTA updates necessitates strong infrastructure and effective management systems. With the rise of software-defined vehicles, it is a challenge to successfully integrate new features without sacrificing performance or compatibility.

Market competition:

• Prominent car manufacturers are putting significant investments into creating strong Over-The-Air platforms to uphold their leadership in the market, as new technology-focused companies are introducing creative solutions that are shaking up the industry.
• The competitive environment is influenced by how quickly technology progresses, the capability to handle large volumes of data, and the quality of collaborations with telecom companies.
• The growing complexity of software in vehicles, along with strict cybersecurity regulations, creates substantial challenges and possibilities for standing out.

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Key Takeaways:

• The rapid growth of the automotive Over-The-Air (OTA) updates market is driven by the growing number of connected vehicles and the rising complexity of automotive software.
• The key elements emphasize a change towards viewing vehicles as platforms, with functionalities and experiences being defined by software.
• OTA updates facilitate the smooth distribution of new functionalities, error corrections, and security enhancements, improving customer approval and preserving the value of the vehicle.
• The telecommunications and automotive industries are emerging in the automotive Over-The-Air (OTA) updates market, requiring strong cybersecurity measures to prevent potential weaknesses.

Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Automotive Over-The-Air Updates Market Segmentation, By Technology Type

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

8. Automotive Over-The-Air Updates Market Segmentation, By Application

• Telematics Control Unit
• Electronic Control Unit
• Infotainment
• Safety & Security
• Others

9. Automotive Over-The-Air Updates Market Segmentation, By Vehicle Type

• Passenger vehicles
• Commercial vehicles
• Electric vehicles

10. Regional Analysis

11. Company Profiles

12. Competitive Landscape

13. Use Case and Best Practices

14. Conclusion

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