The automotive over-the-air updates market size has the potential to grow by 92.29 million units during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by technology (SOTA and FOTA) and geography (North America, APAC, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Airbiquity Inc., Akamai Technologies Inc., Aptiv Plc, BlackBerry Ltd., Continental AG, HERE Global BV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Verizon Communications Inc.
Market Overview
Browse TOC and LoE with selected illustrations and example pages of Automotive Over-the-air Updates Market
Market Competitive Analysis
The market is fragmented and includes a substantial number of international and regional motorsports transmission vendors. There is tough competition among major vendors in the market. Apart from top vendors, several regional and local vendors have started manufacturing customized and energy-efficient equipment, which is intensifying competition among international counterparts in terms of cost. To counter the threat from low-cost substitutes, international players in the global automotive OTA updates market are constantly expanding their footprints in developing countries. Airbiquity Inc., Akamai Technologies Inc., and Aptiv Plc are some of the major market participants. Although the reduced vehicle recalls will offer immense growth opportunities, the rising complexity in automotive software architecture will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this automotive over-the-air updates market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this automotive over-the-air updates market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Airbiquity Inc.
- Akamai Technologies Inc.
- Aptiv Plc
- BlackBerry Ltd.
- Continental AG
- HERE Global BV
- Qualcomm Inc.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Verizon Communications Inc.
Automotive Over-the-air Updates Market: Segmentation by Geography
For more insights on the market share of various regions Request for a FREE sample now!
Europe will offer several growth opportunities to market vendors during the forecast period. Factors such as the rise in penetration of luxury cars and improving economic conditions will significantly drive automotive over-the-air updates market growth in this region over the forecast period.
40% of the market’s growth will originate from Europe during the forecast period. Germany and the UK are the key markets for automotive over-the-air updates in Europe. Market growth in this region will be faster than the growth of the market in other regions.
Automotive Over-the-air Updates Market: Segmentation by Technology
Request for a FREE sample and Get more information on the market contribution of various segments
The market growth for automotive SOTA updates is driven by various infotainment, navigation, and telematics applications and certain features, such as live traffic updates and parking assist. For instance, the maps on our mobile devices update continuously, whereas maps on the navigation system in a car might require the customer to visit dealership regularly, which causes inconvenience and leads to low adoption and less customer satisfaction. SOTA enables the map updates to be transferred over the air directly from the cloud, thereby making it a secure, fast, and simple process. BMW is one of the OEMs that offer OTA map updates to its customers. This feature comes as a standard feature for the BMW ConnectedDrive customers.
However, the automotive over-the-air updates market share growth by the SOTA segment will be slower than the growth of the market by the FOTA segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive over-the-air updates market size.
Automotive Over-the-air Updates Market: Key Drivers and Trends
Reduced vehicle recalls is one of the major factors driving automotive over-the-air updates market growth. It is estimated that an average car comprises around 25 million lines of codes, which control critical vehicle functions. More than half of the vehicle recalls were due to software issues. Therefore, to increase customer satisfaction, end-users are using OTA updates for both performance improvements and fault corrections, thereby reducing vehicle recalls. Moreover, OTA updates improve vehicle performance and thus prove advantageous for all parties involved such as OEMs, dealers, workshops, and customers.
The advent of connected vehicle technology and the Internet of Things has been identified as a key global OTA updates market trend that is driving its growth. The primary focus of automotive digital technology manufacturers is to develop the car’s ability to connect with other vehicles and devices to enhance the driving experience. OTA updates help end-users in achieving the concept by updating the software, which increases its demand. The reduced vehicle recalls coupled with connected vehicle technology and the Internet of Things are factors that will propel the automotive over-the-air updates market growth at a CAGR of almost 53% during the forecast period.
Automotive Over-the-air Updates Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive automotive over-the-air updates market growth during the next five years
- Precise estimation of the automotive OTA updates market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive over-the-air updates industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive over-the-air updates market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch