The over-the-air (OTA) update market accounted to US$ 2,685.6 Mn in 2018 and is expected to grow at a CAGR of 16.3% during the forecast period 2020 – 2027, to account to US$ 10,346.5 Mn by 2027.
Geographically, the over-the-air (OTA) update market is segmented into North America, APAC, Europe, Africa, and SAM. Asia-Pacific led the over-the-air (OTA) update market in 2018 with a significant market share, and is also anticipated to be the fastest growing region during the forecast period of 2019 to 2027. Following by Europe which has some very well-developed countries, and the region has a strong automotive sector which is expected to drive the growth of the over-the-air (OTA) update market in the region. Whereas in North America, the OEMs and technology providers continually invest significant amounts in the development of robust solutions, which is attracting vehicular customers. Tesla, the pioneer in over-the-air (OTA) update offers a unique module that facilitates fixing problems and adding new features. Several other North American automakers are also emphasizing on the technology. High disposable income and matured technological awareness among the North American mass is boosting the adoption of connected cars in the region.
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Global Over-The-Air (OTA) Update Market – Company Profiles
- Airbiquity Inc.
- Continental AG
- Garmin Ltd.
- Harman International
- Hitachi Automotive Systems, Ltd.
- Infineon Technologies AG
- Libelium Comunicaciones Distribuidas S.L
- NXP Semiconductors N.V.
- Robert Bosch Gmbh
- Wind River Systems, Inc.
Europe is the second-largest market in the over-the-air (OTA) update market. North America remains the third-largest geographic segment in the over-the-air (OTA) update market. In North America, growing popularity of process automation, strong automotive industry in countries such as the US and Canada, and presence of a large number of over-the-air (OTA) update providers are some of the major factors that are expected to support the growth of over-the-air (OTA) update market in the region.
Lucrative Regional Over-the-air (OTA) update Market
Accentuating Demand for Advanced Vehicular Technologies
The global automotive industry is experiencing a significant shift from traditional vehicles to smart or connected vehicles that are designed and manufactured with numerous technologies. In the age of high-speed internet and digital technology, and sensor technology, the automotive industry players have profoundly vetted into the connected technology and have been benefitted heavily, as these technologies have attracted a fair percentage of customers. The incorporation of these advanced technologies is leading modern-day vehicles to be smarter/intelligent than before.
The advent of state of art infotainment systems has attracted a substantial percentage of vehicular customers. The demand for a smartphone-like feature in vehicles is at a constant rise, which eases the drivers and passengers to maneuver with digital maps. Owing to this, the vehicle manufacturers are integrating the same on respective vehicles. With the rise in automotive technology, the demand for constant upgrades on the infotainment systems is also growing. Pertaining to this, the automakers and various technology leaders are researching, designing, and integrating Over-the-Air (OTA) systems on vehicles, which offer upgrades over a period of time.
Internet Connectivity and Awareness among the Vehicular Customers is Stimulating the OTA Update Market
The in-vehicle infotainment systems are increasingly gaining popularity among almost every vehicle class owner owing to superior experience that they offer. The rising demand for advanced features in infotainment systems is pushing automakers and OTA suppliers to bring innovative products and services. Consumer’s demand for more intuitive technology integration in their infotainment systems is propelling the vehicle manufacturers to equip their vehicles with the latest technologies and features.Which, in turn, is increasing the growth of over-the-air (OTA) update market.
The global over-the-air (OTA) update market, by type, is segmented into software over-the-air (SOTA) update and firmware over-the-air (FOTA) update. Software over-the-air (SOTA) update segment dominated the over-the-air (OTA) update market heavily and is projected to continue its dominance throughout the forecast period from 2019 – 2027. Software-over-the-air (SOTA) technologies help automotive manufacturers to maintain, fix, and improve vehicles through remote software updates downloaded to the vehicle from a cloud-based server.
The over-the-air (OTA) update market, by application, is further segmented infotainment, telematics, electronic control unit, and others. The telematics segment of the over-the-air (OTA) update market dominated the application segment and is anticipated to continue its dominance throughout the forecast period from 2020 – 2027.
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