Automotive E-Commerce Market is expected to be valued at USD 203 Billion with a CAGR of 22.20% Forecast by 2030
Automotive Ecommerce Market Overview
Expanding and consolidating is a common theme in the worldwide E-commerce market. Leading automotive OEMs are adopting several tactics to mitigate the negative impact on their businesses by assessing their dealerships to resume services. The short-term impact of COVID-19 in the automotive sector has led to shutting down of assembly plants in the United States (US), manufacturing interruptions across Europe and ceased export of Chinese components. However, till the time a COVID-19 breakthrough is not achieved, the automotive industry can remain resilient, given the ongoing efforts by leading companies to curb revenue losses by adopting recovery tactics such as mergers and acquisitions and more.
The increasing focus on introducing innovative and efficient printing materials to provide lightweight spare parts, reducing material wastage and lowering the turnaround time is driving the expansion of the global Automotive Ecommerce market. The increasing government support for research and development in 3D printing technology is likely to impact positively on the growth of the global Automotive Ecommerce market.
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Globally Major key Players accelerates the Automotive Ecommerce Market are,
- Amazon.com Inc. (U.S.)
- eBay Inc. (U.S.)
- Taobao (China)
- Tmall.com (China)
- Alibaba Group Holding Limited (China)
- Wal-Mart Stores Inc. (U.S.)
- JD.com Inc. (China)
- Snapdeal (India)
- Denso Corporation (Japan)
- American Tire Distributors Holdings Inc.(U.S.)
Most important Segments of Automotive Ecommerce market covered in this report are,
Component, vehicle type and consumer are the top segments according to which the automotive e-commerce industry has been extensively navigated by the MRFR experts and covered in the report.
The primary components included in the market study are infotainment and multimedia, engine components, tires and wheels, interior accessories, electrical product and more.
Vehicles types outlined in the report are commercial and passenger vehicles.
The main types of consumers in the market are B2B and B2C.
- Infotainment and Multimedia
- Engine Components
- Tires and wheels
- Interior Accessories
- Electrical Product
Automotive Ecommerce Industry Influence of the global market report:
- Comprehensive assessment of all opportunities and risks in the Automotive Ecommerce Market.
- Automotive Ecommerce Market recent innovations and major events.
- A detailed study of business strategies for the growth of the Automotive Ecommerce Market market-leading players.
- Conclusive study about the growth plot of Automotive Ecommerce Market for forthcoming years.
- In-depth understanding of Automotive Ecommerce Market, market-particular drivers, constraints, and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Automotive Ecommerce Market.
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The global Automotive Ecommerce market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.
Automotive Ecommerce Market Regional Analysis
Asia Pacific or APAC, Europe, the Middle East & Africa or MEA and North America are the key markets for automotive e-commerce.
With a significantly elaborative e-commerce sector, Europe is slated to reach the top spot during the conjectured period. The region makes remarkable profits on account of frequent advancements in computing technology paired with the growth of the latest digital data sources. E-retailers in the region extensively deploy analytical tools to gather customer data, which complete with location-based abilities help them offer personalized auto parts to the consumers. Further, e-commerce vendors advertise vehicle modifications in such a way that the young population is drawn in and purchase the latest models. These marketing tactics work in favor of not only the automotive e-retailers but also the regional market.
APAC is one of the key markets in the automotive e-commerce market, thanks to the high concentration of leading e-commerce companies like Alibaba Group, Amazon.com, E-bay Inc and Flipkart Internet Private Limited, to name a few. Initiatives including Digital India, along with the collaborations between e-commerce platform vendors and the brick & mortar stores also enhance market growth in the region. The thriving automobile manufacturing sector in Korea, India and China is another factor that backs the industry expansion. Online sales channels are the most preferred mediums to keep up the vehicles sales among renowned players in the region, especially during unexpected crisis. For instance, in 2020, Tesla (China) posted record sales, delivering 10,160 vehicles in the country, which is company’s highest for a single month. Tesla has been offering its customers home delivery services post corona outbreak, which has helped boost the sales rate of its cars.
Automotive Ecommerce market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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