Automotive Over the Air (OTA) Market to Witness CAGR of 20% (2021-2027) Due to the Increasing Integration of Advanced Telematic Solutions in Vehicles| UnivDatos Market Insights

NOIDA, India, Nov. 14, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Automotive Over the Air (OTA) Market is expected to reach at USD 13 billion in 2027, growing at a CAGR of 20% from 2021-2027. The analysis has been segmented into Type (Software and Firmware); Propulsion (ICE and Electric); Vehicle Type (Passenger Cars and Commercial Vehicle); Application (Telematics Control Unit (TCU), Infotainment System, Electronics Control Unit (ECU), and Others); Region/Country.

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The Automotive Over the Air (OTA) market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Automotive Over the Air (OTA) market. The Automotive Over the Air (OTA) market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Automotive Over the Air (OTA) market at the global and regional levels.

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Market Overview

The Global Automotive Over-the-Air (OTA) Updates Market is expected to grow at a CAGR of around 20% during the forecast period 2021–2027 owing due to the increasing integration of advanced telematic solutions in vehicles coupled with the growing number of connected cars. Over-the-air (OTA) programming refers to the ability to download applications, services, and configurations over a mobile or cellular network. Over-the-air (OTA) programming is used to automatically update firmware, software, and even encryption keys.

Some of the major players operating in the market include Robert Bosch GmbH, DENSO CORP., NXP Semiconductors N.V., Infineon Technologies AG, Continental AG, HARMAN International Industries Inc., Verizon Communications Inc., Qualcomm Incorporated, Aptiv PLC, and AT&T Inc.

COVID-19 Impact

The pandemic has had a significant impact on the automotive industry, and the shutdowns of manufacturing facilities have created various issues. Automobile and parts production factories around the world have closed, consumer activity in showrooms has plummeted, and governments in a number of locations have placed temporary trade restrictions, resulting in a major decline in automobile sales. According to Toyota Kirloskar Motor (TKM), Toyota sales in India fell by 86.49 percent in May 2020, to 1,639 units, compared to 12,138 units in May 2019. As a result, it is expected that these factors will limit the market's expansion.

The global automotive OTA updates market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on type, the market is categorized into software and firmware. The software segment held a significant revenue share in the market in 2020. This is mainly due to the growing adoption of connected systems by OEMs in vehicles. Furthermore, software over-the-air (SOTA) updates are now quite common in the automotive market, with major vehicle manufacturers routinely rolling out SOTA upgrades for infotainment and navigation systems. SOTA can also update software controlling a vehicle's physical components or electronic signal processing systems.
• Based on propulsion, the market is segmented into ICE and electric. The electric vehicle segment is expected to witness a higher CAGR during the forecast period. This is mainly due to the growing adoption of EVs coupled with governments encouraging long-range, zero-emission vehicles through subsidies and tax refunds, across the world. Additionally, most EVs come with cutting-edge connected technologies for effective operation and high standards of safety and security.

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Automotive Over the Air (OTA) Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World

For a better understanding of the market adoption of Automotive OTA Updates, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. In 2020, North America accounted for the majority share in the market owing to the supportive government policies mandating the integration of connected solutions in passenger and commercial vehicles. However, APAC to witness the fastest growth in the market during the forecast period owing to a growing demand for new-age vehicles from developing countries like India and China.

The major players targeting the market include

• Robert Bosch GmbH
• DENSO CORP.
• NXP Semiconductors N.V.
• Infineon Technologies AG
• Continental AG
• HARMAN International Industries Inc.
• Verizon Communications Inc.
• Qualcomm Incorporated
• Aptiv PLC
• AT&T Inc

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive Over the Air (OTA) Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Automotive Over the Air (OTA) market?
• Which factors are influencing the Automotive Over the Air (OTA) market over the forecast period?
• What are the global challenges, threats, and risks in the Automotive Over the Air (OTA) market?
• Which factors are propelling and restraining the Automotive Over the Air (OTA) market?
• What are the demanding global regions of the Automotive Over the Air (OTA) market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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Automotive Over the Air (OTA) Market Report Coverage

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