Over-The-Air (OTA) Update Market Size
The Over-The-Air Update Market is driven by accentuating demand for advanced vehicular technologies, internet connectivity and in-vehicle infotainment system.
PUNE, MAHARASHTRA, INDIA, January 31, 2020 /EINPresswire.com/ — According to the new research report published by The Insight Partners, titled “Over-The-Air (OTA) Update Market to 2027 – Global Analysis and Forecast by Type (Software Over-The-Air (SOTA) Update and Firmware Over-The-Air (FOTA) Update); Application (Telematics, Infotainment, Electronic Control Unit, and Others); Vehicle Type (Passenger Vehicle and Commercial Vehicle); and Geography”, the global Over-The-Air (OTA) Update market is expected to reach US$ 10,346.5 Mn in 2027, by registering a CAGR of 16.3% during the forecast period 2019-2027.
In 2018, Asia-Pacific was estimated to hold the largest market share and APAC is expected to be fastest region with a CAGR of 18.5% during 2019 to 2027.
The prominent market players in the over-the-air (OTA) update market are Airbiquity Inc., Continental AG, Harman International, and Hitachi Automotive Systems, Ltd., among others. There are various other notable players in the global OTA Update market ecosystem such as Airbiquity Inc., Garmin Ltd, Infineon Technologies AG, Libelium Comunicaciones Distribuidas S.L, NXP Semiconductors N.V., and Wind River Systems, Inc. among others, which are profiled in this report.
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Asia-Pacific holds the dominant share in the over-the-air (OTA) update market, also is expected to be the fastest growing region across the globe. Australia, China, India, Japan, South Korea, and Rest of Asia Pacific are the major contributors to the over-the-air (OTA) update market in APAC. The region has a more progressive economic outlook than other regions in the world. It has enormous growth potential, with fast-growing countries such as China and South Korea and developed nations such as Japan. BMW, a leading premium car manufacturer in Europe has announced in 2019 to deliver over-the-air (OTA) software updates on selected models. The BMW models outfitted with OS 7.0 will benefit from Remote Software Upgrade features.
Apart from OEMs, numerous technology providers operate in the European over-the-air (OTA) update market. Continental AG, a leading automotive component and technology supplier partnered with Volkswagen AG to support OTA updates on all Volkswagen ID electric vehicles. Thus, these factors are expected to create a lucrative business space for the over-the-air (OTA) update market in Europe
Key findings of the study:
China holding the leading position followed by Japan and South Korea. China dominates the entire Asia-Pacific region in terms of the number of connected cars. Also, being a tech-savvy country, the demand for advanced technologies is an all-time high in the country. This has led to a rise in the procurement of connected cars. Also, the internet connectivity is much significant in the country, which has eased the automotive OEMs and technology providers to provide over-the-air (OTA) updates smoothly. Japan, South Korea, and India, on the other hand, are witnessing a rise in demand for over-the-air (OTA) software updates, which is capitalizing on the over-the-air (OTA) update market in the region.
The over-the-air (OTA) update market is analyzed on the basis of various parameters such as type, application, vehicle type, and geography. The type segment comprises of software over-the-air (SOTA) and firmware over-the-air (FOTA). The application segment in the over-the-air (OTA) update market includes infotainment, telematics, electronic control unit (ECU), and others.
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The global over-the-air (OTA) update market is anticipated to witness impressive growth during the forecast period owing to accentuating demand for advanced vehicular technologies and internet connectivity and awareness among the vehicular customers. During the forecast period of 2019 to 2027, software over-the-air (SOTA) update held the largest market share and will continue its dominance in the market. On the basis of application, telematics held the largest market share in 2018 and is expected to maintain its dominance through the review period. Passenger vehicle segment by vehicle type in 2018 led the over-the-air (OTA) update market and is expected to be the fastest-growing vehicle type during the forecast period 2019-2027 growing at a high CAGR value.
• NXP Semiconductors and Airbiquity announced the integration of Airbiquity's OTAmatic over-the-air (OTA) software and data management offering with NXP's Vehicle Network Processing (VNP) Evaluation Board (EVB).
• Wind River, a front-runner in providing IoT software for critical infrastructure, and Airbiquity, a leader in connected vehicle services, are collaborated towards integrating key technologies to develop an end-to-end software lifecycle management solution for connected and autonomous vehicles, one that extents vehicle to cloud. The solution will allow secure and intelligent over-the-air (OTA) software updates and data management.
• Airbiquity a global front-runner in connected vehicle services, announced a $15 million minority investment in the company from Toyota Motor Corporation, DENSO Corporation, and Toyota Tsusho Corporation. This investment will support Airbiquity’s expansion of the development of connected vehicle software technology and cloud-based services.
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Source: EIN Presswire