Over the Air Update Market Projected to Surge, Reaching $10 Billion by 2030 with Advanced Connected Car Technologies as Key Growth Drivers

DUBLIN, Feb. 23, 2024 /PRNewswire/ -- The "Over the Air Update Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to  ResearchAndMarkets.com's offering.

Global Over the Air Update Market Seeing Expansive Growth with a Focus on Vehicle Safety and Security Trends

The global market for Over the Air (OTA) updates is witnessing a robust growth trajectory, with an anticipated Compound Annual Growth Rate (CAGR) of 15.6% between 2024 and 2030. This growth is being propelled by the integration of connected devices within automobiles, advances in connected car technologies, and stringent government regulations aimed at enhancing vehicle safety and security.

In a comprehensive study segmenting the market by technology, vehicle type, electric vehicle type, and application, significant insights into the market dynamics have been identified. The research indicates that Software Over-The-Air technology will capture a significant share of the market, bolstered by the increasing use of advanced infotainment applications such as social networking services, park assistance systems, and real-time traffic updates.

North America Leads Market Growth

Dominated by North America, the OTA update market is poised for substantial growth in regions buzzing with connected car innovations, a surge in electric vehicle production, and enhancements in infotainment and telematics services. The North American market emerges as a front-runner due to its high adoption rate of connected car gadgets and an unwavering commitment to automotive safety.

Competitive Landscape and Market Expansion Strategies

The market landscape is witnessing strategic maneuvers by key players such as Robert Bosch, NXP Semiconductors, Verizon Communications, and Continental. These industry leaders are innovating and expanding their product quality, manufacturing facilities, and R&D capacities to address the growing demand and stay ahead in a highly competitive market.

Market Segments Attract Diverse Opportunities

The study reveals that the market is segmented into several lucrative opportunities across telematics control units, electronic control units, and safety & security applications, among others. Each segment is analyzed for potential growth opportunities and market estimations in terms of value.

Key Market Dynamics and Impactful Trends

The report delves into the various market forces influencing growth and the emerging trends that are shaping the future of OTA updates. Important factors such as the emergence of new technologies, evolving customer demands, and competitive product offerings are meticulously examined to provide a holistic view of the market's trajectory.

To further understand the competitive environment within the OTA update market, the Porter's Five Forces model analysis is utilized. This gauge of competitive intensity aids stakeholders in mapping out business risks, challenges, threats, and developing strategic initiatives for sustained growth and market presence. Additionally, the report highlights new developments led by industry majors and scrutinizes the impact of mergers and acquisitions over recent years.

Key Topics Covered:

1. Executive Summary

2. Global Over the Air Update Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Over the Air Update Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Over the Air Update Market by Technology
3.3.1: Firmware over-the-air
3.3.2: Software over-the-air
3.4: Global Over the Air Update Market by Vehicle Type
3.4.1: Passenger Cars
3.4.2: Light Commercial Vehicles
3.4.3: Heavy Commercial Vehicles
3.5: Global Over the Air Update Market by Electric Vehicle Type
3.5.1: Battery Electric Vehicle
3.5.2: Hybrid Electric Vehicle
3.5.3: Plug-in Hybrid Electric Vehicle
3.6: Global Over the Air Update Market by Application
3.6.1: Telematics Control Unit
3.6.2: Electronic Control Unit
3.6.3: Infotainment
3.6.4: Safety & Security
3.6.5: Others

4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Over the Air Update Market by Region
4.2: North American Over the Air Update Market
4.2.2: North American Over the Air Update Market by Application: Telematics Control Unit, Electronic Control Unit, Infotainment, Safety & Security, and Others
4.3: European Over the Air Update Market
4.3.1: European Over the Air Update Market by Technology: Firmware over-the-air and Software over-the-air
4.3.2: European Over the Air Update Market by Application: Telematics Control Unit, Electronic Control Unit, Infotainment, Safety & Security, and Others
4.4: APAC Over the Air Update Market
4.4.1: APAC Over the Air Update Market by Technology: Firmware over-the-air and Software over-the-air
4.4.4: APAC Over the Air Update Market by Application: Telematics Control Unit, Electronic Control Unit, Infotainment, Safety & Security, and Others
4.5: ROW Over the Air Update Market
4.5.1: ROW Over the Air Update Market by Technology: Firmware over-the-air and Software over-the-air
4.5.2: ROW Over the Air Update Market by Application: Telematics Control Unit, Electronic Control Unit, Infotainment, Safety & Security, and Others

5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter's Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Over the Air Update Market by Technology
6.1.2: Growth Opportunities for the Global Over the Air Update Market by Vehicle Type
6.1.3: Growth Opportunities for the Global Over the Air Update Market by Electric Vehicle Type
6.1.4: Growth Opportunities for the Global Over the Air Update Market by Application
6.1.5: Growth Opportunities for the Global Over the Air Update Market by Region
6.2: Emerging Trends in the Global Over the Air Update Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Over the Air Update Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Over the Air Update Market
6.3.4: Certification and Licensing

7. Company Profiles of Leading Players
7.1: Robert Bosch
7.2: NXP Semiconductors
7.3: Verizon Communications
7.4: Continental
7.5: Infineon Technologies
7.6: Qualcomm
7.7: Intel
7.8: HARMAN
7.9: Airbiquity
7.10: Aptiv

For more information about this report visit https://www.researchandmarkets.com/r/7lpqcc

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