MMR, global market research and consulting organization, has released a new study titled “Auto Parts ECommerce Aftermarket market – Global outlook to 2027″. Industries’ constant focus on reducing the operational cost and increased attention on core business, and the need to improve scalability are expected to shape the Automotive OTA Update market to grow at a CAGR of %.
Automotive OTA Update Market : size was valued at US$ 61.62 Bn. in 2021 and the total revenue is expected to grow at 14.6 % through 2022 to 2029, reaching nearly US$ 183.32 Bn.
According to an Analyst at MMR, the Automotive OTA Update market will experience significant growth during the forecast period due to potential opportunities lying in the market. The market drivers are:
COVID-19 Impact:
Our team is working on the COVID 19 impact on various industry verticals and provide authenticate data to the client this data helps us understand the market situation. To understand the influence and factors of the COVID 19 on the Automotive OTA Update market with our expert monitoring which explains all the impacting factors and COVID impact on each key player are explained in the report.
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Market Segmentation:
By technology, the market is segmented into Firmware Over-the-Air (FOTA), and Software Over-the-Air (SOTA). The software Over-the-Air (SOTA) segment is expected to dominate the market through the forecast period, as well as it acquired the largest market share in recent years. The development of the automotive SOTA section is supposed to be mostly determined by developing infotainment applications, for example, live traffic refreshes, park help, email applications, and online entertainment applications.
By Application, the market is segmented into Telematics Control Unit, Electronic Control Unit, Infotainment, Safety & Security, and Others. Telematics Control Unit is expected to dominate the market through the forecast period and it is expected to grow at the highest CAGR through the forecast period. Because of the advancement in the number of telecom applications. Various automotive makers are offering telematics control units as regular gadgets in their vehicles.
The market is divided into main 5 regions and they are North America (U.S., Canada), Europe (U.K., Germany, France, Italy), Asia Pacific (China, India, Japan, Singapore, Malaysia, South Korea), Latin America (Brazil, Mexico, Argentina, Chile), and MEA (Saudi Arabia, South Africa, Egypt) respectively. The MMR Company provides government regulation and pricing analysis of each and everyone that helps to understand the market situation and current competition in the market.
Key Players:
• Robert Bosch GmbH
• NXP Semiconductors N.V
• Verizon Communications Inc.
• Continental AG
• Infineon Technologies AG
• Qualcomm Incorporated
• Intel Corporation
• HARMAN International
• Airbiquity Inc
• Aptiv
• HERE Technologies
• BlackBerry QNX Software Systems Limited
• Garmin Ltd
• Intellias Ltd
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The report provides a detailed analysis and forecast of the industry covering the following key features:
- Industry outlook includes current and future market drivers, restraints, trends, challenges, emerging technologies, and recent developments.
- Key industry developments and key insights
- Significant marketing factors such as driver, restraints, opportunity, and challenges
- Number of significant companies and their revenue and net income
- Other market trends
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