Over-the-Air (OTA) Updates Market for Automotive Worth 3.89 Billion USD by 2022
PUNE, India, September 6, 2017 /PRNewswire/ --
The report "Over the Air (OTA) Updates Market for Automotive by Technology (SOTA and FOTA), Application (ECU, TCU, Infotainment, and Safety & Security), Vehicle Type (PC and CV), Electric Vehicle Type (BEV, HEV, and PHEV), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market for automotive is projected to grow at a CAGR of 18.2% during the forecast period, to reach USD 3.89 Billion by 2022. Increasing demand for vehicle connectivity for real-time traffic information, government regulations about safety, demand for vehicle performance data for predictive analysis, and improved operational efficiency and profitability are the key drivers for the OTA updates market for automotive.
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Browse 73 Market Data Tables and 37 Figures spread through 149 Pages and in-depth TOC on "Over the Air (OTA) Updates Market - Global Forecast to 2022"
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North America: Largest market for OTA updates for automotive
North America is projected to be the largest market for automotive OTA updates from 2017 to 2022. The market growth in the region can be attributed to various factors such as increasing number of connected car devices in vehicles, ramping up of electric vehicle production, and frequent infotainment & telematics services updates. Also, strategic alliances between OEMs and non-automotive companies, exceptional communication infrastructure, and government regulations for vehicle data security are expected to fuel the demand for OTA updates market in the region.
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Passenger cars are estimated to hold the largest market share during the forecast period
The passenger car segment accounts for the largest share of the OTA updates market for automotive. The growth of OTA updates market for passenger cars can be attributed to the increased production of passenger cars across the globe. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) statistics, the global passenger vehicle production has increased from 59.9 million units (2011) to 72.1 million units (2016), at a CAGR of 3.77% over the period of five years. Also, developing countries such as China and India have witnessed significant economic growth, which in turn has increased the demand for premium and luxury segment cars that have a number of connected car devices. The substantial increase in connected cars and growing infrastructure of vehicle to everything (V2X) communication are fueling the demand for connected car devices, which in turn is increasing the deployment of OTA updates.
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OTA updates for Telematics is estimated to be the largest application segment from 2017 to 2022
The growth of OTA updates market for TCU is anticipated to be driven by the increasing number of telematics applications. Various automotive OEMs, especially in North America and Europe, are offering telematics control unit as a standard device in their vehicles. OEMs such as General Motors (U.S.), Mercedes-Benz (Germany), BMW (Germany), and Volkswagen AG (Germany) provide the telematics control unit in their passenger car models. Furthermore, the TCU will help the automotive companies to analyze the frequently occurring problems within the vehicle, which will then be rectified in the new products. The updates in TCU applications and real-time data analytics are expected to drive the OTA updates market for TCU application.
The OTA updates market for automotive is dominated by a few globally established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), and Harman International (U.S).
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