Over-the-air (OTA) Market to be Worth $20.7 Billion by 2031

  

“Over-the-air (OTA) Market to be Worth $20.7 Billion by 2031”

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Over-the-air (OTA) Market by Offering (Solutions (FOTA, SOTA), Services), Application (OTA Testing, Wireless Communication, Software & Firmware Update, Regulatory Compliance), Industry (Automotive, BFSI, Retail), and Geography - Global Forecast to 2031.’

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According to this latest publication from Meticulous Research^®, the global over-the-air (OTA) market is projected to reach $20.7 billion by 2031, at a CAGR of 14.7% from 2024 to 2031. The growth of this market is driven by factors such as the proliferation of IoT devices, the growing need to reduce the costs associated with manual updates and device recalls, and the increasing demand for connected features in vehicles. Additionally, the integration of edge computing & blockchain technology for OTA updates and the emergence of vehicle-to-everything (V2X) connectivity are expected to create market growth opportunities. However, limited network bandwidth may restrain the growth of this market. Furthermore, concerns regarding data security are major challenges for the players operating in this market.

Additionally, the deployment of 5G networks for faster OTA updates is a key trend in the over-the-air (OTA) market.

The global over-the-air (OTA) market is segmented by offering, application, and end-use industry. The study also evaluates end-use industry competitors and analyzes the market at the region/country level.

Based on offering, the global over-the-air (OTA) market is broadly segmented into solutions and services. The solutions segment is further segmented into firmware over-the-air (FOTA) and software over-the-air (SOTA). In 2024, the solutions segment is expected to account for the larger share of the global over-the-air (OTA) market. The large market share of this segment is attributed to the increasing need to manage software upgrades, cybersecurity patches, and mission-critical updates and the growing demand for OTA solutions to deliver software updates to devices, including operating system upgrades, firmware updates, and performance improvements.

However, the services segment is projected to register a higher CAGR during the forecast period due to the increasing need for OTA services for updating applications and software components installed on devices, the rising need to manage network infrastructure, optimize performance, remotely manage devices, and deliver new services effectively, and growing use of 5G OTA services to evaluate the performance, reliability, and functionality of 5G wireless devices and systems in real-world conditions.

Based on application, the global over-the-air (OTA) market is broadly segmented into OTA testing, software & firmware updates, wireless communication, and regulatory compliance. In 2024, the software & firmware update segment is expected to account for the largest share of the global over-the-air (OTA) market. The large market share of this segment is attributed to the proliferation of connected devices, including smartphones, IoT devices, and automotive systems, the increasing need to deploy security patches, encryption updates, and privacy enhancements to protect against cyber threats and safeguard sensitive data, and the growing need to keep up with evolving software and hardware capabilities to ensure products remain competitive and up-to-date.

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However, the OTA testing segment is projected to register the highest CAGR during the forecast period due to the growing need for OTA testing to assess the antenna performance, ensure wireless devices comply with end-use industry standards and regulatory requirements, evaluate the MIMO performance in wireless devices, and measure the throughput and data rates of 5G devices.

Based on end-use industry, the global over-the-air (OTA) market is broadly segmented into IT & telecommunications, automotive, consumer electronics, manufacturing, BFSI, transportation & logistics, energy & power, aerospace & defense, retail, healthcare, and other end-use industries. In 2024, the IT & telecommunications segment is expected to account for the largest share of the global over-the-air (OTA) market. The large market share of this segment is attributed to factors such as the growing need to extend the lifecycle of varying devices, including servers, routers, switches, and network devices, by providing software upgrades and patches, the increasing need for remote device management, configuration, and monitoring, and the growing demand for OTA solutions to ensure the reliability, performance, and security of network infrastructure.

However, the automotive segment is projected to register the highest CAGR during the forecast period due to the increasing need to reduce the need for physical recalls due to software-related issues, the growing adoption of autonomous electric vehicles, the proliferation of connected car services, including telematics and vehicle-to-everything communication (V2X), and the growing demand for OTA updates to maintain and upgrade vehicle systems and ensure compliance with evolving regulations and standards.

Based on geography, the global over-the-air (OTA) market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global over-the-air (OTA) market, followed by Europe and Asia-Pacific. North America’s significant market share can be attributed to the increasing advancements in connected car technologies, autonomous vehicles, and electric vehicles, the increasing use of OTA updates to ensure compliance with regulatory requirements and standards for data privacy, security, and safety, the growing adoption of OTA technology in aerospace & defense systems, the increasing adoption of software-defined infrastructure and systems, and the growing adoption of IoT devices including smart home devices, industrial sensors, healthcare monitors, and agricultural sensors.

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However, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period. The growing number of smartphone users and connected devices, the emergence of 5G networks, the increasing need to reduce manual intervention, physical recalls, and on-site maintenance, the increasing adoption of digital technologies, including cloud computing and online services, and the growing demand for consumer electronics, including smart TVs, streaming devices, gaming consoles, and home appliances in the region are expected to support the growth of this market.

Key Players:

The key players operating in the over-the-air (OTA) market are Thales (France), T-Systems International GmbH (Germany), HARMAN International (U.S.), NXP Semiconductors N.V. (Netherlands), BlackBerry Limited (Canada), Intertek Group plc (U.K.), TÜV SÜD (Germany), Airbiquity Inc. (U.S.), Nokia (Finland), Cyient Limited (India), IDEMIA (France), Microwave Vision, SA. (MVG) (France), Excelfore Corporation (U.S.), Sibros Technologies Inc. (U.S.), Memfault Inc. (U.S.), UL LLC (U.S.), Keysight Technologies, Inc. (U.S.), EMITE Ing.S.L. (Spain), Microchip Technology Inc. (U.S.), shanghai Facom Technology CO., LTD. (HBTE) (China), Advantal Technologies Private Limited (India), and Carota Corp (Taiwan).

Key questions answered in the report-

·  What are the high-growth market segments in terms of offering, application, end-use industry, and geography?

·  What was the historical market of the over-the-air (OTA) market?

·  What are the market forecasts and estimates for the period 2024–2031?

·  What are the major drivers, restraints, opportunities, and challenges in the over-the-air (OTA) market?

·  Who are the major players, and what shares do they hold in the over-the-air (OTA) market?

·  What is the competitive landscape like in the over-the-air (OTA) market?

·  What are the recent developments in the over-the-air (OTA) market?

·  What are the different strategies adopted by the major players in the over-the-air (OTA) market?

·  What are the key geographic trends, and which are the high-growth countries?

·  Who are the local emerging players in the global over-the-air (OTA) market, and how do they compete with the other players?

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