Product ID: SQMIG25A2048
Global Automotive Over-The-Air (OTA) Updates Market Size, Share, Growth Analysis, By Technology(Firmware Over-The-Air Technology (FOTA) and Software Over-The-Air Technology (SOTA)), By Vehicle Type(Commercial vehicles and passenger vehicles), By Application(ECU, TCU) - Industry Forecast 2024-2031
Report ID:
SQMIG25A2048 |
Region:
Global |
Published Date: February, 2024
Pages:
244
|
Tables:
87 |
Figures:
76
Global Automotive Over-The-Air (OTA) Updates Market Insights
Automotive Over-The-Air (OTA) Updates Market size was valued at USD 3.07 billion in 2019 and is poised to grow from USD 3.63 billion in 2023 to USD 13.71 billion by 2031, growing at a CAGR of 18.1% in the forecast period (2024-2031).
Over-the-air (OTA) is a method for exchanging data or conducting transactions wirelessly without the use of a cable or other local connection. Multiple techniques for transferring new software, configuration options, firmware, and other update tools over the cloud are referred to as over-the-air (OTA). In the case of an automobile, the ECU (Electronic Control Unit), whose appearance is growing in a modern car, is updated wirelessly via a telecommunication medium through a gateway inside the car. The vehicle is getting smarter and more knowledgeable in the automobile sector. Nowadays, software predominates over traditional mechanical components in cars. Over-the-air (OTA) is a term used in the automobile industry to describe the rapidly expanding practices of wirelessly providing software updates to vehicles after they have been purchased. When a customer brings their vehicle to a service station, the cost of updating the software drops dramatically, causing little inconvenience for both the customer and the service station. OTA also overcomes the dependability issue that was previously an issue with each update. Connected vehicles have the ability to exchange diagnostic and operational data from the distant cloud, as well as receive over-the-air software updates. With the support of automotive OTA updates, manufacturers may increase the trustworthiness of their vehicles as they enhance their algorithms, and centralization makes sure that this can be done effectively and safely. An incorrect software update could also endanger the user's life, despite the fact that car OTA updates are more difficult and strict than those for handheld devices.
The growing production of electric vehicles, as well as the rising demand for connected car gadgets and electric vehicles, is key factors driving the growth of the Global Automotive Over-The-Air (OTA) Market. Fast and affordable upgrades for the ECUs (Electronic Control Units) of the cars are made possible by automotive OTA technology. Users of cars can update their software via the OTA without going to a service center. Over the course of the projected period, all of these advantages are anticipated to increase market penetration. Additionally, the new car safety regulations are assisting automakers in safeguarding vehicle data from unauthorized hacking and malfunction, which is anticipated to boost demand for the Automotive Over-The-Air (OTA) Market. The rapid development of advanced connected automotive technologies around the world is a key trend driving the expansion of the Automotive Over-The-Air (OTA) Market. The need for ongoing updates and advancements in in-vehicle technologies has grown as a result of the increasing software dependence on automobiles throughout time.
This rising acceptance rate, combined with the cost-effectiveness and utility of remote updates offered by technology to automobile customers, will drive significant market growth throughout the forecasted time period. The automotive OTA has a variety of benefits, but certain elements limit and provide a hurdle to the market's growth in general. The expensive cost of updating and a lack of infrastructure in developing nations are expected to make the Automotive OTA difficult. Nevertheless, the growth of technology and the Internet of Things (IoT) in the automotive sector is opening up new market prospects.
US Automotive Over-The-Air (OTA) Updates Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Automotive Over-The-Air (OTA) Updates Market Report Snapshots
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