Automotive E-Commerce Market Research Report - Global Forecast till 2023

Posted by Market Research Future on March 20th, 2020

Market Synopsis:

Integration of e-commerce distribution channel in the automotive sector has revolutionized the growth trajectory for the industry leaders in recent years. The global automotive e-commerce market, as per the analysis put forward by Market Research Future (MRFR), is anticipated to expand at 6% CAGR during the assessment period 2017 to 2023.

Online trading in the automotive industry is the latest trend that is anticipated to impact the growth pattern of the market favorably in the years to come. Distributors are investing in the launch of their online portals. This, in turn, is prognosticated to catalyze proliferation of automotive e-commerce market over the next couple of years. Increasing penetration of internet services, coupled with rising adoption of online shopping habits, is expected to lead the expansion of the global market in the nearby future.

The move of introducing e-commerce facility in car deals is basically aimed at the millennials. In the upcoming years, these millennials are expected to emerge as the target customers and prospects. It ensures that the automotive e-commerce market is likely to witness strong growth potential over the next few years. On the contrary, the problems related to the installation of products purchased online are anticipated to restrict market growth in the forthcoming years.

Request a Sample Report @https://www.marketresearchfuture.com/sample_request/4682

Market Segmentation:

On the basis of components, the segmental analysis of the global automotive e-commerce market covers engine components, infotainment and multimedia, tires and wheels, electrical product, and interior accessories.

The automotive e-commerce market is divided into two segments on the basis of vehicle type. These segments are – passenger vehicles and commercial vehicles.

The global automotive e-commerce market, on the basis of consumer, has been bifurcated into B2B and B2C.

Regional Analysis:

The geographical assessment of the global automotive e-commerce market is covered on regional as well as country-level basis. The prime segments of the market profiled in this analysis are North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific is expected to secure the leading position in the global market place over the next few years. The stronghold of major e-commerce websites such as Alibaba Group, Amazon.com, Flipkart Internet Private Limited, E-bay Inc., etc. in the region is poised to boost revenue growth for the players of the automotive e-commerce market in the years to come. The digitization drive observed in Asia Pacific projected to accelerate the expansion of the regional market over the forecast period. Also, the growth of the automotive aftermarket players in the e-commerce industry is anticipated to spur market growth in the forthcoming years.

Competitive Dashboard:

Amazon.com, Inc. (U.S.), Tmall.com (China), Taobao (China), eBay Inc. (U.S.), and   Alibaba Group Holding Limited (China) are few of the participants of the automotive e-commerce market expected to earn high revenues during the review period.

Other players anticipated to contribute to the development of the global market are Denso Corporation (Japan), Wal-Mart Stores, Inc. (U.S.), Snapdeal (India), JD.com, Inc. (China), and American Tire Distributors Holdings, Inc. (U.S.). Key players are focusing on the development of innovative ways to introduce product portfolio development and diversification. This, in turn, is poised to encourage robust competition in the automotive e-commerce market over the next couple of years. Mergers & acquisitions, collaborations with manufacturers, agreements, etc. are some of the major growth strategies prognosticated to be executed by the market players in the years to come.

Industry News:

In September 2019, the U.K. based Quest Motor Group has announced the implementation of Auto-e software for facilitating end-to-end online car purchases. The facility is available for Braintree and Maldon used car sites.

In August 2019, Shelbourne Motors, a Northern Irish dealer, has announced the launch of an online platform for the selling cars online.