Automotive E-Commerce Market Trends, Dynamics, and Growth Drivers, Key Players are O’Reilly Auto Parts, Amazon, Bosch Auto Parts, Walmart
Research Reports
Nov 22, 2023
Automotive E-Commerce Market Outlook:
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Automotive E-Commerce Market Information by Components, Consumer and Vehicle Type, and Region – Forecast till 2030″, By 2030, the Automotive E-Commerce market can increase from USD 70.23 billion in 2022 to USD 202.15 billion, with a CAGR of 19.67% between 2022 and 2030. Automobile and part online buying and selling is referred to as automotive commerce or automotive electronic commerce. Numerous gadgets, including portable tablets, desktop computers, and cell phones, can be used for this.
Additionally, it’s not necessary to compartmentalize the car-selling process online. Along with an internet sale, physical sales are frequently made. For instance, a new car might be sold on a physical lot, but the parts for it might be ordered online.
Automotive E-Commerce Market Competitive Landscape:
- O’Reilly Auto Parts (U.S.)
Amazon(U.S.)
Alibaba Group Holding Limited (China)
AutoZone, Inc. (U.S.)
Advance Auto Parts (U.S.)
Delticom AG (Germany)
eBay Inc. (U.S.)
Walmart (U.S.)
Bosch Auto Parts (Germany)
Flipkart(India)
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Automotive E-Commerce Market USP Covered:
Automotive E-Commerce Market Drivers:
Despite the COVID-19 pandemic, there is one area where the automotive industry has reason for optimism: automotive ecommerce. Since 2010, online auto sales have grown significantly, reaching 100%. The numbers speak for themselves, and as a result, the auto industry has shifted its emphasis even more towards an online business strategy in order to sell cars and auto components more successfully. Companies like Ford have prioritised their automotive e-commerce websites and social media presences more than ever before by overhauling their websites, placing a focus on practicality, and emphasising digital ads.
As more and more people make purchases online, the automotive industry and its distributors, like the bulk of global industries, have had to quickly adapt. Whether or not they were willing to shift direction, automakers that had been hesitant to stray from the tried-and-true strategy of physical sales were now forced to do so. Customers and automotive companies alike profit greatly from automotive e-commerce outlets, which may also increase revenue along the entire value chain. The businesses will benefit from this development.
The availability of an extensive range of vehicles, auto parts, and components online is another factor driving the industry’s growth. Nowadays, people are increasingly favouring online buying for car parts and accessories. As a result, the automotive industry has undergone a dramatic shift in favour of automotive e-commerce platforms. Due to the fierce competition in the market, sellers are concentrating on offering services like booking appointments for vehicle maintenance, purchasing used automobiles, and taking in trade-ins. In order to outperform traditional shops, they are also trying for competitive pricing models.
Automotive E-Commerce Market Restraints:
Over the study time, online fraud, cyber security issues, a lack of consumer trust, and other factors may hinder global industry expansion.
Nevertheless, opportunities for the automotive e-commerce sector are projected to arise in the near future as a result of the automation of digital trade and the expansion of cross-border e-trade.
Automotive E-Commerce Market Segmentation
With respect to components, the automotive e-commerce industry has been considered for infotainment and multimedia, engine components, tyres and wheels, interior accessories, and electrical goods categories. The market is dominated by the engine components industry as a result of the continual rise in the number of operational cars getting older.
Consumer-based segments are B2C and B2B. The B2C type category now has the most market share and is anticipated to rule the sector throughout the duration of the projection. This is because B2C businesses are able to exceed customer expectations through prompt delivery, an excellent network of service providers, and the use of discount programmes to entice new customers.
Automotive E-Commerce Market Regional Insights
The North American market is in the lead owing to the region’s increased preference for online shopping, accessibility of a well-developed infrastructure, rising demand for premium and luxury vehicles, and the market’s growing need for hassle-free transactions.
The Asia Pacific automotive e-commerce market will prove to be extremely lucrative in the next few years, thanks to the solid presence of affluent companies like Alibaba Group, Amazon.com, eBay Inc., and Flipkart Internet Private Limited. Government initiatives like Digital India and partnerships between conventional shops and the makers of e-commerce platforms are also anticipated to boost the sector’s growth.
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