diff --git a/cmd/builder/internal/builder/config.go b/cmd/builder/internal/builder/config.go
index fa36220924b..943b80cb108 100644
--- a/cmd/builder/internal/builder/config.go
+++ b/cmd/builder/internal/builder/config.go
@@ -25,7 +25,7 @@ import (
 	"go.uber.org/zap"
 )
 
-const defaultOtelColVersion = "0.47.0"
+const defaultOtelColVersion = "0.48.0"
 
 // ErrInvalidGoMod indicates an invalid gomod
 var ErrInvalidGoMod = errors.New("invalid gomod specification for module")
diff --git a/cmd/otelcorecol/builder-config.yaml b/cmd/otelcorecol/builder-config.yaml
index e7993cd6810..fb8c24a9138 100644
--- a/cmd/otelcorecol/builder-config.yaml
+++ b/cmd/otelcorecol/builder-config.yaml
@@ -2,29 +2,29 @@ dist:
   module: go.opentelemetry.io/collector/cmd/otelcorecol
   name: otelcorecol
   description: Local OpenTelemetry Collector binary, testing only.
-  version: 0.47.1-dev
-  otelcol_version: 0.47.0
+  version: 0.48.0-dev
+  otelcol_version: 0.48.0
 
 receivers:
   - import: go.opentelemetry.io/collector/receiver/otlpreceiver
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
 exporters:
   - import: go.opentelemetry.io/collector/exporter/loggingexporter
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
   - import: go.opentelemetry.io/collector/exporter/otlpexporter
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
   - import: go.opentelemetry.io/collector/exporter/otlphttpexporter
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
 extensions:
   - import: go.opentelemetry.io/collector/extension/ballastextension
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
   - import: go.opentelemetry.io/collector/extension/zpagesextension
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
 processors:
   - import: go.opentelemetry.io/collector/processor/batchprocessor
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
   - import: go.opentelemetry.io/collector/processor/memorylimiterprocessor
-    gomod: go.opentelemetry.io/collector v0.47.0
+    gomod: go.opentelemetry.io/collector v0.48.0
 
 replaces:
   - go.opentelemetry.io/collector => ../../
diff --git a/cmd/otelcorecol/go.mod b/cmd/otelcorecol/go.mod
index 50af2be6b66..b72f6cf724b 100644
--- a/cmd/otelcorecol/go.mod
+++ b/cmd/otelcorecol/go.mod
@@ -6,7 +6,7 @@ go 1.17
 
 require (
 	github.com/stretchr/testify v1.7.1
-	go.opentelemetry.io/collector v0.47.0
+	go.opentelemetry.io/collector v0.48.0
 	golang.org/x/sys v0.0.0-20220114195835-da31bd327af9
 )
 
diff --git a/cmd/otelcorecol/main.go b/cmd/otelcorecol/main.go
index 0629b9faef8..07b9ac3a48a 100644
--- a/cmd/otelcorecol/main.go
+++ b/cmd/otelcorecol/main.go
@@ -21,7 +21,7 @@ func main() {
 	info := component.BuildInfo{
 		Command:     "otelcorecol",
 		Description: "Local OpenTelemetry Collector binary, testing only.",
-		Version:     "0.47.1-dev",
+		Version:     "0.48.0-dev",
 	}
 
 	if err := run(service.CollectorSettings{BuildInfo: info, Factories: factories}); err != nil {
diff --git a/examples/k8s/otel-config.yaml b/examples/k8s/otel-config.yaml
index 21e74a37fcf..677b4e0abd6 100644
--- a/examples/k8s/otel-config.yaml
+++ b/examples/k8s/otel-config.yaml
@@ -66,7 +66,7 @@ spec:
       - command:
           - "/otelcol"
           - "--config=/conf/otel-agent-config.yaml"
-        image: otel/opentelemetry-collector:0.47.0
+        image: otel/opentelemetry-collector:0.48.0
         name: otel-agent
         resources:
           limits:
@@ -177,7 +177,7 @@ spec:
       - command:
           - "/otelcol"
           - "--config=/conf/otel-collector-config.yaml"
-        image: otel/opentelemetry-collector:0.47.0
+        image: otel/opentelemetry-collector:0.48.0
         name: otel-collector
         resources:
           limits: