Connected Vehicles of Tomorrow Market Size and Demand for OTA Updates

The Over-The-Air Updates for Automotive Due to the rise in linked automobiles and electric vehicles, the market size is expected to continue growing. Significant expenditures in R&D have been made by prominent firms that have joined this sector to offer safe and affordable OTA updates and solutions for cars. Over the course of the projection period, it is anticipated that some regions—such as Asia Pacific and North America—will predominate. It's crucial to remember, though, that the pandemic had a negative impact on the automobile industry, which led to a decline in car sales and supply chain interruptions. Government regulations intended to lessen the pandemic's effects caused a number of industry participants to experience plant activity interruptions and production halts. Despite the serious effects of the epidemic, a recovery in the market is expected as things get better. The market is expanding because to the rising demand for electric vehicles and the use of linked automobiles. Growing apprehensions around cybersecurity and safety could encourage industry growth. Government programs targeted at advancing automobile technology will also aid in the expansion of the sector. However, obstacles like restricted infrastructure and expensive OTA upgrades may prevent the industry from expanding. The automotive over-the-air (OTA) updates market is expanding as a result of cars becoming more and more reliant on software. Key Players in the Automotive Over-The-Air (OTA) Updates Industry include: Robert Bosch GmbH NXP Semiconductors N.V Verizon Communications Inc. Continental AG Infineon Technologies AG Qualcomm Incorporated Intel Corporation HARMAN International Airbiquity Inc Market Segmentation: The Automotive Over-The-Air (OTA) Updates Market is segmented based on technology, application, propulsion, and vehicle type. Vehicle types include passenger cars, light commercial vehicles, and heavy commercial vehicles. Among these, passenger cars are expected to exhibit a high Compound Annual Growth Rate (CAGR) during the forecast period, driven by rising income levels and increased spending on automobile safety and private vehicle security. The propulsion segment is divided into Internal Combustion Engine (ICE) and Electric vehicles, with both segments anticipated to experience growth. In terms of application, the market is segmented into Electronic Control Unit (ECU), Infotainment, Safety & Security, Telematics Control Unit (TCU), and others. The telematics control unit is expected to have a high CAGR due to the increasing number of telecommunications applications. The market's technology is categorized into Firmware Over-The-Air (FOTA) and Software Over-The-Air (SOTA), with the Software Over-The-Air (SOTA) segment poised to dominate the market. It is expected to experience growth due to applications such as live traffic updates, email applications, social media apps, and park assist, among others. Regional Analysis: The Automotive Over-The-Air (OTA) Updates Market is analyzed in four regions: North America, Asia Pacific, Europe, and the rest of the world. While North America dominated the market in 2018, Asia Pacific is expected to take the lead during the forecast period, with Europe securing the second position in 2018. Industry News: The new EVOLVE car model is now capable of receiving OTA software updates, with over 190,000 customers across 34 markets eligible to download these updates. This includes vehicles such as the new XC90, S60, and V60, along with electric cars. Market Segmentation: By Technology: Firmware Over The Air (FOTA) Software Over The Air (SOTA) By Application: Electronic Control Unit (ECU) Infotainment Safety & Security Telematics Control Unit (TCU) Others By Propulsion: Internal Combustion Engine (ICE) Electric Vehicle By Vehicle Type: Passenger Car Light Commercial Vehicle Heavy Commercial Vehicle Raed more: Automotive Battery Management System market 3d printing automotive market adaptive headlights market air powered vehicle market