PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1468715
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1468715
Automotive OTA Updates Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Market Overview
The global automotive OTA updates market size was USD 3,917.2 million in 2023, and it is expected to reach USD 13,863.5 million by 2030, advancing at a CAGR of 20.1% during 2024-2030.
The rising number of this kind of passenger cars, which rely on superior technology is one more thing that should be looked into because it will lead to the increase in demand for OTA updates. Consequently, the OEMs are inclining towards technologies that take care of one's dose of car software via wireless, hence making the automotive software up-to-date.
The rise in the employment of IoT technology is developing interest amongst major carmakers to move their focus from regular vehicles to connected ones and either upgrade the old variants or inject the smart connectivity features into the current models.
In this regard, it is replacing older and outdated systems in vehicles with the latest infotainment systems, telematics, and navigation technology by customers. These systems are the software installed in the embedded auto hardware board updates which help to ensure smooth functioning. The result of this is the vast growth in the use of smart and connected technologies among vehicles and this is a major trend which is observed in the automotive over-the-air updates market today.
Key Insights
The software category held a significant revenue share of 80% in 2023 and is expected to maintain dominance.
Over-the-air (OTA) services for upgrading vehicle software are fast and secure, contributing to high sales in the software category.
The electric category in the propulsion segment is expected to grow rapidly with a CAGR of 28% during the forecast period.
Government support, including incentives and grants for EV adoption, and stringent emission regulations are driving this growth.
Despite the growth of electric vehicles, the ICE category held a larger market share in 2023 and is expected to maintain its position in the coming years.
Passenger vehicles held a larger revenue share of around 68% in 2023 and are expected to maintain this position.
Increasing sales of mid-range and premium passenger vehicles with added features like autonomy are driving this trend.
Autonomous cars are equipped with various systems such as eye tracking, virtual assistance, speech recognition, driver monitoring, gesture recognition, and natural language interfaces.
North America held the largest revenue share of around 37% in 2023 and is expected to maintain its dominance due to increased adoption of connected vehicles.
The region's demand for automobile networking, navigation, communication, and entertainment features has surged with growing mobile device compatibility.
OEMs and technology providers in North America are investing substantially in robust technologies to attract customers.
The US makes up a substantial percentage of North American revenues using strict regulations and is important for the growing trend for safer vehicles.
In addition to having high sales revenue in 2023, Europe is expected to continue to be the top manufacturer of the car industry in the world due to the presence of many players, high adoption rate, and introduction of advanced technologies.
The European market is experiencing a growth in vehicle demand for premium vehicles, developing the numbers of manufacturer companies, as well as the big investments in R&D and assembling
Germany is in charge of the European automobile market, owing to a sufficient infrastructure and the latest innovations in car technology.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by propulsion
- 1.4.3. Market size breakdown, by vehicle type
- 1.4.4. Market size breakdown, by application
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Type (2017-2030)
- 6.3. Market Revenue, by Propulsion (2017-2030)
- 6.4. Market Revenue, by Vehicle Type (2017-2030)
- 6.5. Market Revenue, by Application (2017-2030)
- 6.6. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Type (2017-2030)
- 7.3. Market Revenue, by Propulsion (2017-2030)
- 7.4. Market Revenue, by Vehicle Type (2017-2030)
- 7.5. Market Revenue, by Application (2017-2030)
- 7.6. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Type (2017-2030)
- 8.3. Market Revenue, by Propulsion (2017-2030)
- 8.4. Market Revenue, by Vehicle Type (2017-2030)
- 8.5. Market Revenue, by Application (2017-2030)
- 8.6. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Type (2017-2030)
- 9.3. Market Revenue, by Propulsion (2017-2030)
- 9.4. Market Revenue, by Vehicle Type (2017-2030)
- 9.5. Market Revenue, by Application (2017-2030)
- 9.6. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Type (2017-2030)
- 10.3. Market Revenue, by Propulsion (2017-2030)
- 10.4. Market Revenue, by Vehicle Type (2017-2030)
- 10.5. Market Revenue, by Application (2017-2030)
- 10.6. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Type (2017-2030)
- 11.3. Market Revenue, by Propulsion (2017-2030)
- 11.4. Market Revenue, by Vehicle Type (2017-2030)
- 11.5. Market Revenue, by Application (2017-2030)
- 11.6. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Type (2017-2030)
- 12.3. Market Revenue, by Propulsion (2017-2030)
- 12.4. Market Revenue, by Vehicle Type (2017-2030)
- 12.5. Market Revenue, by Application (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Type (2017-2030)
- 13.3. Market Revenue, by Propulsion (2017-2030)
- 13.4. Market Revenue, by Vehicle Type (2017-2030)
- 13.5. Market Revenue, by Application (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Type (2017-2030)
- 14.3. Market Revenue, by Propulsion (2017-2030)
- 14.4. Market Revenue, by Vehicle Type (2017-2030)
- 14.5. Market Revenue, by Application (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Type (2017-2030)
- 15.3. Market Revenue, by Propulsion (2017-2030)
- 15.4. Market Revenue, by Vehicle Type (2017-2030)
- 15.5. Market Revenue, by Application (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Type (2017-2030)
- 16.3. Market Revenue, by Propulsion (2017-2030)
- 16.4. Market Revenue, by Vehicle Type (2017-2030)
- 16.5. Market Revenue, by Application (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Type (2017-2030)
- 17.3. Market Revenue, by Propulsion (2017-2030)
- 17.4. Market Revenue, by Vehicle Type (2017-2030)
- 17.5. Market Revenue, by Application (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Type (2017-2030)
- 18.3. Market Revenue, by Propulsion (2017-2030)
- 18.4. Market Revenue, by Vehicle Type (2017-2030)
- 18.5. Market Revenue, by Application (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Type (2017-2030)
- 19.3. Market Revenue, by Propulsion (2017-2030)
- 19.4. Market Revenue, by Vehicle Type (2017-2030)
- 19.5. Market Revenue, by Application (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Type (2017-2030)
- 20.3. Market Revenue, by Propulsion (2017-2030)
- 20.4. Market Revenue, by Vehicle Type (2017-2030)
- 20.5. Market Revenue, by Application (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Type (2017-2030)
- 21.3. Market Revenue, by Propulsion (2017-2030)
- 21.4. Market Revenue, by Vehicle Type (2017-2030)
- 21.5. Market Revenue, by Application (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Type (2017-2030)
- 22.3. Market Revenue, by Propulsion (2017-2030)
- 22.4. Market Revenue, by Vehicle Type (2017-2030)
- 22.5. Market Revenue, by Application (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Type (2017-2030)
- 23.3. Market Revenue, by Propulsion (2017-2030)
- 23.4. Market Revenue, by Vehicle Type (2017-2030)
- 23.5. Market Revenue, by Application (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Type (2017-2030)
- 24.3. Market Revenue, by Propulsion (2017-2030)
- 24.4. Market Revenue, by Vehicle Type (2017-2030)
- 24.5. Market Revenue, by Application (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Type (2017-2030)
- 25.3. Market Revenue, by Propulsion (2017-2030)
- 25.4. Market Revenue, by Vehicle Type (2017-2030)
- 25.5. Market Revenue, by Application (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Type (2017-2030)
- 26.3. Market Revenue, by Propulsion (2017-2030)
- 26.4. Market Revenue, by Vehicle Type (2017-2030)
- 26.5. Market Revenue, by Application (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Type (2017-2030)
- 27.3. Market Revenue, by Propulsion (2017-2030)
- 27.4. Market Revenue, by Vehicle Type (2017-2030)
- 27.5. Market Revenue, by Application (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Type (2017-2030)
- 28.3. Market Revenue, by Propulsion (2017-2030)
- 28.4. Market Revenue, by Vehicle Type (2017-2030)
- 28.5. Market Revenue, by Application (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. NXP Semiconductors N.V.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. AT&T Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. DENSO Corporation
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Aptiv PLC
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Continental AG
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. HARMAN International
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. HERE Global B.V.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Infineon Technologies AG
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Nvidia Corporation
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Qualcomm Incorporated
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Robert Bosch GmbH
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
- 30.12. Lear Corporation
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary
- 30.13. Verizon Communications Inc.
- 30.13.1. Business overview
- 30.13.2. Product and service offerings
- 30.13.3. Key financial summary
- 30.14. Garmin Ltd.
- 30.14.1. Business overview
- 30.14.2. Product and service offerings
- 30.14.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
