New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Over-The-Air (OTA) Updates Global Market Report 2023" - https://www.reportlinker.com/p06464243/?utm_source=GNW
, Garmin Ltd., Intellias Ltd., NVIDIA Corporation, DENSO Corporation, Lear Corporation, and Thales Group.
The global automotive over-the-air updates market is expected to grow from $3.13 billion in 2022 to $3.74 billion in 2023 at a compound annual growth rate (CAGR) of 19.7%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive over-the-air updates market is expected to reach $7.16 billion in 2027 at a CAGR of 17.6%.
The automotive over-the-air (OTA) updates market consists of revenues earned by entities by providing services distributed system updates, access services, wireless access protocol (WAP), and multimedia messaging service (MMS).The market value includes the value of related goods sold by the service provider or included within the service offering.
The automotive over-the-air (OTA) updates market also includes sales of sim cards, smartphones, tablets, and internet-on-thing devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods. The IT market is segmented into IT services; computer hardware; telecom and software products.
Automotive over-the-air (OTA) update is a process of wirelessly transferring data using a cellular network that refers to several procedures for distributing new software, firmware, configuration settings, and other update tools over the cloud. Over-the-air (OTA) updates allow automakers to fix, maintain, and improve vehicle software remotely, which eliminates the need for drivers to physically visit a dealership, which saves them both time and money.
North America was the largest region in the automotive over-the-air (OTA) updates market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive over-the-air (OTA) updates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of automotive over-the-air (OTA) updates are firmware over-the-air (FOTA) and software over-the-air (SOTA).Firmware-over-the-air (FOTA) is a mobile software management (MSM) technology that allows the operating firmware of a cellular device to be upgraded and updated wirelessly over the network and enables the operators of internet-connected devices to perform firmware upgrades remotely and seamlessly, without the need for physical device intervention.
The various vehicle types are passenger vehicles, commercial vehicles, and electric vehicles that are used for various applications such as telematics control units, electronic control units, infotainment, and safety and security.
Rising demand for passenger vehicles is significantly contributing to the growth of the automotive over-the-air (OTA) updates market going forward.A passenger vehicle refers to a motor vehicle that can carry a person or a group of persons, commonly used for the transportation of people.
Automotive over-the-air updates are used in passenger and commercial vehicles for remote delivery of software update to eliminate the need to visit a dealership or mechanic and instead enhances the driving experience and makes the roads safer by increasing operational safety. For instance, in June 2021, according to the report published by OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association for vehicles, global passenger car sales increased from 53.91 million in 2020 to 56.39 million in 2021. Therefore, the rising demand for passenger vehicles is expected to propel the growth of the automotive over-the-air (OTA) updates market.
Technological advancements are a key trend gaining popularity in the automotive over-the-air (OTA) updates market.Major companies operating in the automotive sector are focused on developing technologically advanced products to strengthen their position in the market.
For instance, in March 2022, Cyient, an India-based software company, introduced CyientfIQTM, a firmware over-the-Air (FOTA) update solution for providing end-to-end solutions for firmware updates across multiple industries.The FOTA solution aims for the creation of intelligent and connected products for original equipment manufacturers (OEMs) with a significant reduction in the cost of after-sales service support through optional new feature upgrades for end users.
The device-to-cloud OTA server, gateway-to-cloud OTA server, and device to gateway to cloud OTA server are among the firmware update scenarios that are addressed by the CyientfIQTM FOTA solution to offer a seamless upgrade process that eliminates all risk factors.
In February 2021, Ford Motor Company, a US-based automotive manufacturing company partnered with Google LLC for an undisclosed amount.With the partnership, both companies aim to significantly alter the cars designed and produced and also to expand the use of OTA (over-the-air) updates.
Google LLC is a US-based technology company operating in automotive over-the-air market.
The countries covered in the automotive over-the-air (OTA) updates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive over-the-air (OTA) market research report is one of a series of new reports that provides automotive over-the-air (OTA) market statistics, including automotive over-the-air (OTA) industry global market size, regional shares, competitors with an automotive over-the-air (OTA) market share, detailed automotive over-the-air (OTA) market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive over-the-air (OTA) industry. This automotive over-the-air (OTA) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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