• Stacy Lawlor

Global Over The Air Engine (OTA) Control Module Market Size to grow to USD 2,204.9 million by 2028

The Global Over The Air Engine (OTA) Control Module Market Size is projected to grow from USD 1,108.6 million in 2020 to USD 2,204.9 million by 2028 at a CAGR of 19.7% during the forecast period.

Global Over The Air Engine (OTA) Control Module Market Size to grow to USD 2,204.9 million by 2028

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With the tremendous rise in the number of connected automobiles on the road throughout the world, and their increasing software dependence, the need for OTA updates is skyrocketing. As a result, original equipment manufacturers (OEMs) are investing in OTA up gradation technology to make software updates easy for car owners. These are propelling market growth during the forecast period. In addition, the market's expansion can be attributed to rising demand for connected devices in automobiles, as well as the increased use of internet services.


The COVID-19 outbreak has had a significant impact on the automotive and transportation industries, as well as other linked businesses. The global spread of the COVID-19 virus, which prompted lockdown scenarios, has resulted in an unprecedented number of border closures around the world. The sector is likely to be impacted by this interruption in the global supply chain until mid-2021. Due to weaker demand, supply chain constraints, and to protect the safety of their staff in the most afflicted nations during the COVID-19 epidemic, some automotive Over the Air (OTA) manufacturers have declared a suspension in production. As a result, demand for Automotive OTA solutions fell in 2020, and the pandemic's influence is projected to persist in the future.

Global Over The Air Engine (OTA) Control Module Market Size to grow to USD 2,204.9 million by 2028

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Increasing Utilization of Smart, Connected Technologies Propel Market Growth


The growing popularity of internet of things (IoT) technology is prompting major automakers to turn their focus to connected vehicles, either by launching new models or by incorporating advanced connection capabilities into existing ones. This is in reaction to people growing need for cutting-edge infotainment, telematics, and navigation systems. These systems rely on software installed on the vehicle's embedded hardware, which must be updated on a regular basis to function properly. As a result, a prominent development in the automobile over-the-air updates industry is the increasing adoption of smart, connected technology.


Increasing Government Support for Production of Electric Vehicle Drives Market Growth


On the basis of propulsion, the electric category in the automotive OTA updates market is predicted to increase at a higher rate over the forecast period. This is mostly owing to increased government support for the adoption of electric vehicles in the form of incentives and subsidies, as well as stricter emission restrictions. Furthermore, the majority of EVs are outfitted with innovative connected systems that allow for efficient operations as well as high levels of safety and security. As a result, for seamless operation, these vehicles require OTA updates on a frequent basis.


North America is the largest market for Over the Air Engine (OTA) Control Module due to the increasing adoption of electric vehicles in developed nations such as the United States and Canada. In 2020, approximately 231,088 battery-powered electric vehicles were sold in the United States, according to an IEA report. Furthermore, the region's internet penetrations, as well as the adoption of new technology, are likely to drive market expansion. Further, due to the presence of major automobile manufacturers in countries like as Japan, China, and India, the market in the Asia Pacific region is expected to develop significantly throughout the forecast period.

Global Over The Air Engine (OTA) Control Module Market Size to grow to USD 2,204.9 million by 2028

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KEY INDUSTRY DEVELOPMENTS:


In January 2020, Qualcomm Incorporated launched the car-to-cloud service for OTA updates with on-demand services and features. Qualcomm Snapdragon Automotive Cockpit systems, as well as Qualcomm Snapdragon Automotive 4G and 5G platforms, have an integrated, secure connected automobile service suite.


IN JANUARY 2020, Aptiv PLC launched sustainable car architecture at the Consumer Electronics Show 2020. Automakers may use the new architecture to improve vehicle safety, fuel efficiency, and supply connected solutions and over-the-air software updates.


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https://www.extrapolate.com/Automotive/over-the-air-engine-ota-control-module-market/25695


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