As per a report by P&S Intelligence, the total size of the automotive OTA updates market was USD 3,315.8 million in 2022, and reaching USD 13,959.5 million by 2030, powering at a rate of 19.7% by the end of this decade.
The revenue share of software was larger, with 80%, in 2022, and it will continue like this in the future as well. This is because of the progressions in connectivity technology and disposition of IoT, which have made connectivity between connected devices and embedded automobile systems easier.
This allows for the provision of critical info, including the location of fuel and alleging stations and battery and status of charging, furthermore for easing remote diagnosis for all kinds of connected vehicles.
Also, the OTA services provided by companies for upgrading vehicle software are secure and fast, resulting in the higher sales.
The electric category will witness the faster growth, with a rate of 28%. This has a lot to do with government support, such as grants and initiatives, for the acceptance of EVs and the strict emission regulations.
Furthermore, nearly all EVs are equipped with innovative connected systems for effective processes and high security and safety level.
Moreover, the ICE category had the larger share in the recent past, and it will continue like this in the future. This can be credited to the fact that not only cars but most medium- and heavy commercial vehicles are powered by conventional engine.
Passenger vehicles had the larger share, of about 68%, and it will be like this in the future. It will be because of the growing sales of mid-range and premium passenger vehicles with added features, including autonomy.
Moreover, autonomous cars have numerous systems for virtual assistance, eye tracking, driver monitoring, speech recognition, gesture recognition, and natural language interfaces. These systems deeply rely on regular OTA updates for safe operation, which further contributes to the growth of the market.
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Automotive OTA Updates Market, Automotive OTA Updates Market sIZE Automotive OTA Updates MarketShare,Automotive OTA Updates Market Growth, ,
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