US and Europe OTA Testing Market Report 2022: Soaring Demand for Fully Autonomous Cars Drives Sector Growth
DUBLIN, Dec. 21, 2022 /PRNewswire/ -- The "US and Europe OTA Testing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology, Type, Frequency Range, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The US & Europe OTA Testing Market is expected to grow from US$ 561.6 million in 2021 to US$ 814.6 million by 2028. It is estimated to grow at a CAGR of 5.5% from 2021 to 2028.
Automakers in the US and Europe are observing substantial demand for smart devices in their vehicles. This has led the automobile manufacturers to continuously focus on innovating, designing, and developing autonomous cars, which have attracted a fair percentage of customers in major automotive manufacturing countries. Due to the consumers' demand and attraction toward smart and fully autonomous cars, the market of OTA testing is surrounded by huge opportunities.
The growth trajectory of fully autonomous cars is largely anticipated to depend upon several parameters such as technological improvements, consumer preference to adopt fully automated cars, pricing, and the ability of the suppliers and OEMs to address the critical concerns related to the safety of the vehicles.
Attributing to these parameters, both the industry players, i.e., automotive and semiconductor, are constantly focusing on improving technologies, negotiating raw materials prices, and finally integrating the cars with robust technologies. This factor triggers the growth of OTA to ensure better performance of driverless cars in the coming years. Also, the OTA testing companies are updating AI technology for driverless cars.
In addition, approximately 160 million vehicles are expected to have some form of OTA by 2022. The UK has recently become the first country to permit driverless cars on the road globally. Similarly, Germany is another country being exposed to autonomous driving. The country has adopted legislation that will enable driverless vehicles in 2022 on public roads. The uptake of legislation is paving the path for companies to execute fully autonomous delivery services and robotaxis in the country at a large scale.
Additionally, autonomous testing is permitted in Germany, which would facilitate operations of driverless vehicles with greater safety. The aspects mentioned above will assist in boosting the growth of OTA testing in autonomous cars and, hence, impacting the market. This further help the providers of OTA testing to perform reliability test on autonomous vehicles, contributing significantly to the market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the US and Europe OTA testing market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the US and Europe OTA testing market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Key Market Drivers
- Proliferation of 5G and Connected Devices
- Soaring Demand for Fully Autonomous Cars
Key Market Restraints
- Limited Technical Staff Along With Presence of Counterfeit Products
Key Market Opportunities
- Propagation of OTA Testing in Telemedicine and Telehealth Products
- Future Trends
Emergence of Next-Generation Television Sets
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. OTA Testing Market Landscape
5. US and Europe OTA Testing - Key Market Dynamics
6. OTA Testing - US and Europe Market Analysis
7. OTA Testing Market Analysis - By Technology
8. OTA Testing Market Analysis - By Type
9. OTA Testing Market Analysis - By Frequency
10. OTA Testing Market Analysis - By Application
11. OTA Testing Market Analysis - By End User
12. US and Europe OTA Testing Market - Geographical Analysis
13. OTA Testing Market - COVID-19 Impact Analysis
14. Industry Landscape
15. Company Profiles
16. Appendix
Companies Mentioned
- Anritsu Corporation
- Bureau Veritas S.A
- CETECOM GmbH
- Eurofins Scientific SE
- Intertek Group Plc
- Keysight Technologies Inc.
- ROHDE and SCHWARZ GmbH & Co. KG
- SGS
- TUV Rheinland AG
- UL LLC
For more information about this report visit https://www.researchandmarkets.com/r/dh7jhl
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SOURCE Research and Markets
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