diff --git a/NOTICE.txt b/NOTICE.txt
index 8ec96a06419..dcdfd816ac2 100644
--- a/NOTICE.txt
+++ b/NOTICE.txt
@@ -20736,11 +20736,11 @@ limitations under the License.
 
 --------------------------------------------------------------------------------
 Dependency : github.com/elastic/opentelemetry-lib
-Version: v0.7.3
+Version: v0.7.4
 Licence type (autodetected): Apache-2.0
 --------------------------------------------------------------------------------
 
-Contents of probable licence file $GOMODCACHE/github.com/elastic/opentelemetry-lib@v0.7.3/LICENSE:
+Contents of probable licence file $GOMODCACHE/github.com/elastic/opentelemetry-lib@v0.7.4/LICENSE:
 
                                  Apache License
                            Version 2.0, January 2004
diff --git a/go.mod b/go.mod
index 496bd176c2b..de44b96a280 100644
--- a/go.mod
+++ b/go.mod
@@ -150,7 +150,7 @@ require (
 	github.com/elastic/go-structform v0.0.10 // indirect
 	github.com/elastic/go-windows v1.0.2 // indirect
 	github.com/elastic/gosigar v0.14.3 // indirect
-	github.com/elastic/opentelemetry-lib v0.7.3 // indirect
+	github.com/elastic/opentelemetry-lib v0.7.4 // indirect
 	github.com/elastic/pkcs8 v1.0.0 // indirect
 	github.com/emicklei/go-restful/v3 v3.11.0 // indirect
 	github.com/evanphx/json-patch v5.6.0+incompatible // indirect
diff --git a/go.sum b/go.sum
index 245c9df92f2..36e4602269b 100644
--- a/go.sum
+++ b/go.sum
@@ -772,8 +772,8 @@ github.com/elastic/mock-es v0.0.0-20240712014503-e5b47ece0015 h1:z8cC8GASpPo8yKl
 github.com/elastic/mock-es v0.0.0-20240712014503-e5b47ece0015/go.mod h1:qH9DX/Dmflz6EAtaks/+2SsdQzecVAKE174Zl66hk7E=
 github.com/elastic/opentelemetry-collector-components/processor/elasticinframetricsprocessor v0.7.1 h1:CMgNOCi80GgCFrnDtSDOMmHHMCXcX4VVAp0b7KcDEHE=
 github.com/elastic/opentelemetry-collector-components/processor/elasticinframetricsprocessor v0.7.1/go.mod h1:KR1P54I10KN+f4rEHaPwQZBnRkKGgiabxBrRthTWCAs=
-github.com/elastic/opentelemetry-lib v0.7.3 h1:jBTFl+sQK2KnnMGMhc3QEeTI7w1eJxIkUUFikK2no0A=
-github.com/elastic/opentelemetry-lib v0.7.3/go.mod h1:/kKvHbJLVo/NcKMPHI8/RZKL64fushmnRUzn+arQpjg=
+github.com/elastic/opentelemetry-lib v0.7.4 h1:nvc8ciUBPdorg73EbDck96WMeCBTCMUcLDbXRmaC2EI=
+github.com/elastic/opentelemetry-lib v0.7.4/go.mod h1:aCZdym3mU3rW87cZmbTaKbAEe5Bb9vjtlqta3FegBAU=
 github.com/elastic/pkcs8 v1.0.0 h1:HhitlUKxhN288kcNcYkjW6/ouvuwJWd9ioxpjnD9jVA=
 github.com/elastic/pkcs8 v1.0.0/go.mod h1:ipsZToJfq1MxclVTwpG7U/bgeDtf+0HkUiOxebk95+0=
 github.com/elazarl/goproxy v0.0.0-20180725130230-947c36da3153/go.mod h1:/Zj4wYkgs4iZTTu3o/KG3Itv/qCCa8VVMlb3i9OVuzc=