Over-the-air (OTA) Market to be Worth $20.7 Billion by 2031—Exclusive Report by Meticulous Research®”
|
|
According to
a new market 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,’ the over-the-air
(OTA) market is expected to reach $20.7 billion by 2031, at a CAGR of 14.7%
from 2024 to 2031.
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5789
OTA technology is widely used across various
industries, particularly in those demanding prompt software management for
enhanced efficiency, security, and user experience. This technology
facilitates the wireless transfer of data to vehicles without the need for
physical connections or cables, enabling seamless downloading of data and
software updates within wireless communication systems.
OTA services enable companies to effortlessly deploy new patches,
software, or firmware to devices within their networks, minimizing downtime,
service disruptions, and operational expenses linked to manual updates and
maintenance. 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.
The over-the-air market is segmented by offering, application, end-use industry, and
geography. The study also
evaluates industry competitors and analyses the market at the regional and country
levels.
Based on offering, the global over-the-air 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.
Based on application, the global over-the-air market is broadly segmented into OTA testing, software
& firmware updates, wireless communication, and regulatory compliance. In
2024, the software & firmware updates 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. However, the OTA testing segment
is projected to register the highest CAGR during the forecast period.
Customize My Report @ https://www.meticulousresearch.com/request-customization/cp_id=5789
Based on end-use industry, the global over-the-air 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.
Based on geography, the global over-the-air 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
market. 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. However, the market in
Asia-Pacific is projected to register the highest CAGR during the forecast
period.
The report also includes an extensive assessment of the key growth strategies
adopted by the leading market participants over the past three to four years. 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).
Quick Buy @ https://www.meticulousresearch.com/Checkout/95272006
About
Meticulous Research®
Meticulous Research® was founded in 2010
and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private
limited company under the Companies Act, 1956. Since its incorporation, the
company has become the leading provider of premium market intelligence in
North America, Europe, Asia-Pacific, Latin America, and the Middle East &
Africa.
The name of our company defines our
services, strengths, and values. Since the inception, we have only thrived to
research, analyze, and present the critical market data with great attention
to details. With the meticulous primary and secondary research techniques, we
have built strong capabilities in data collection, interpretation, and
analysis of data including qualitative and quantitative research with the
finest team of analysts. We design our meticulously analyzed intelligent and
value-driven syndicate market research reports, custom studies, quick
turnaround research, and consulting solutions to address business challenges
of sustainable growth.
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Comments
Post a Comment