According to a report by Research and Markets, the global Over-The-Air (OTA) updates market for automotive is projected to grow at a CAGR of 18.2% from 2017 to 2022, and to reach USD 3.89 Billion by 2022.
The report further says that stringency of vehicle safety legislations and increasing demand for connected car devices and services to fuel the demand for over-the-air (OTA) updates market for automotive.
The major factors driving the growth as pointed out by the report are:
- Increased production of electric vehicles.
- Rising demand for connected car devices, government regulations regarding safety and cyber security of the vehicle.
- Increasing demand for advanced applications such as telematics and infotainment.
- New vehicle safety norms are encouraging the automakers to protect vehicle data from remote hacking and malfunctioning, which in turn is increasing the demand for OTA updates for automotive.
Challenge for the OTA updates market is the non-availability of supporting infrastructure in developing countries
Major players profiled in the report are Continental AG, Robert Bosch, Harman International, Garmin Ltd, NXP Semiconductors, Verizon Communications, Infineon Technologies AG, NVIDIA Corporation, Qualcomm Inc, Airbiquity, Movimento and BlackBerry.