Automotive OTA Update Market Size, Revenue, Future Plans and Growth, Trends Forecast 2022-2029
Global Automotive OTA Update Market : size was valued at US$ 58.87 Bn. in 2021 and the total revenue is expected to grow at 7.2 % through 2022 to 2029, reaching nearly US$ 102.67 Bn.
Automotive OTA Update Market Overview: The Automotive OTA Update market research provides a full competition picture, including the market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Automotive OTA Update Market, as well as the causes for variances in the industry's growth in different areas.
Market Scope: To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
This Automotive OTA Update market report covers new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and product approvals, product launches. To learn more about Maximize Market Research Automotive OTA Update market, please contact us for an Analyst Brief; our experts will assist you in making an informed market choice to achieve your goals.
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Segmentation:
By technology, the market is segmented into Firmware Over-the-Air (FOTA), and Software Over-the-Air (SOTA). The software Over-the-Air (SOTA) segment is expected to dominate the market through the forecast period, as well as it acquired the largest market share in recent years. The development of the automotive SOTA section is supposed to be mostly determined by developing infotainment applications, for example, live traffic refreshes, park help, email applications, and online entertainment applications.
By Application, the market is segmented into Telematics Control Unit, Electronic Control Unit, Infotainment, Safety & Security, and Others. Telematics Control Unit is expected to dominate the market through the forecast period and it is expected to grow at the highest CAGR through the forecast period. Because of the advancement in the number of telecom applications. Various automotive makers are offering telematics control units as regular gadgets in their vehicles.
Key Players: The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Automotive OTA Update market are
• Robert Bosch GmbH
• NXP Semiconductors N.V
• Verizon Communications Inc.
• Continental AG
• Infineon Technologies AG
• Qualcomm Incorporated
• Intel Corporation
• HARMAN International
• Airbiquity Inc
• Aptiv
• HERE Technologies
• BlackBerry QNX Software Systems Limited
• Garmin Ltd
• Intellias Ltd
Regional Analysis: The region portion of the Automotive OTA Update market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. The geographic market assessment is based on the existing scenario and predicted developments.
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COVID-19 Impact Analysis on Automotive OTA Update Market:
Following the outbreak of the pandemic, end-user sectors where Automotive OTA Update are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive OTA Update manufacturers, influencing the growth of the Automotive OTA Update market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Automotive OTA Update from end-user businesses has decreased significantly.
Key Questions Answered in the Automotive OTA Update Market Report are:
- Which are the major companies in the Automotive OTA Update market?
- Which is the potential market for Automotive OTA Update in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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