{"id":547681,"date":"2021-06-15T13:14:01","date_gmt":"2021-06-15T13:14:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=547681"},"modified":"2021-06-15T13:14:01","modified_gmt":"2021-06-15T13:14:01","slug":"demand-for-automotive-ota-updates-to-boom-in-asiapacific-in-coming-years","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/demand-for-automotive-ota-updates-to-boom-in-asiapacific-in-coming-years_547681.html","title":{"rendered":"Demand for Automotive OTA Updates To Boom in Asia-Pacific in Coming Years"},"content":{"rendered":"
\"Demand<\/a><\/div>\n
The global automotive over-the-air (OTA) updates market is expected to grow at a CAGR of 19.5% during 2021\u20132030 by P&S Intelligence.<\/div>\n

The surging rate of automotive digitalization is driving the demand for automotive over-the-air (OTA) updates, as automobiles require regular software updates, including necessary cybersecurity updates, in order to keep up with the latest innovations and advancements being made in connectivity technologies. Moreover, instead of recalling the sold automobiles to the garage repeatedly, it is economical and much faster to install these updates in vehicles OTA or wirelessly. These updates enhance the functionality of the vehicle, which, in turn, makes it easier to integrate new features and leads to better protection against data breaches and hacking.<\/p>\n

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The other major factor fueling the demand for automotive OTA updates is the increasing implementation of stringent norms regarding passenger and vehicle safety in several countries. With the enactment of these regulations, it is becoming necessary for automakers to incorporate safety systems in their products. Moreover, the increasing degree of programmability and the rapid advancements being made in the automotive technology are making automakers focus heavily on upgrading their products in order to ensure compliance with the revised regulations and norms.<\/p>\n

Apart from the aforementioned factors, the soaring research and development (R&D) activities being conducted in connected car technologies are also fueling the popularity of the automotive OTA updates. This is, in turn, propelling the growth of the global automotive over-the-air updates market<\/a>. As a result, the market revenue is predicted to surge from $2,422.6 million in 2020 to $13,859.5 million by 2030. Furthermore, as per the forecast of the market research company, P&S Intelligence, the market will advance at a CAGR of 19.5% between 2021 and 2030.<\/p>\n

Across the globe, the demand for automotive OTA updates is predicted to surge sharply in the Asia-Pacific (APAC) region in the coming years. This will be due to the implementation of strict government regulations and policies regarding the adoption of advanced safety features such as emergency stop signals, event data recorders, and intelligent speed assistance, and the burgeoning requirement for autonomous vehicles, shared electric mobility solutions, and connected cars, on account of the soaring disposable income of people, in the region.<\/p>\n

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The most-prominent companies in the global automotive OTA updates market are Robert Bosch GmbH, AT&T Inc., Continental AG, NXP Semiconductors N.V., Aptiv PLC, Infineon Technologies AG, Verizon Communications Inc., DENSO CORP., H Qualcomm Incorporated, and ARMAN International Industries Inc.<\/p>\n

Market Size Breakdown by Segments<\/strong><\/p>\n

By Type<\/strong><\/p>\n