About E-commerce Automotive
Automotive e-commerce or ecommerce for automotive refers to selling and buying vehicles as well as related accessories, parts, services, etc., through the internet. It includes selling every type of automobile, like cars, trucks, etc., through the Internet with the help of smartphones, laptops, tablets, etc. E-commerce offers shoppers the convenience of comparing different car models (or parts) and pay for them directly via the internet. Business-to-Business (B2B) and Business-to-Customers (B2C) are the two main types of automotive eCommerce business models. E commerce automotive industry is essentially online shopping for cars. It’s when your dealership can sell a car 100% digitally. Launching your business online through a website or virtual store and promoting it online with Social Media Auto is a crucial aspect of e-commerce in the automotive industry. The process of selling and buying cars from dealerships has transformed drastically in recent years. The demand for e-commerce sites for automobiles rapidly increased, and the trends still favor automotive ecommerce.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Automotive e-commerce is growing year-over-year, and many automotive brands by launching own websites. Even some of the players launching online stores. E-commerce solutions are being seen as a game-changer as the huge amount of customer approach helps the companies generate various insights to use them as a source of competitive advantage Analyst at AMA Research estimates that United Kingdom Vendors will contribute the maximum growth to Global E-commerce Automotive market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CruiseMaster (Australia), JeepPeople (United States), Indianapolis Motor Speedway (United States), Awesome GTI (England), Enjuku Racing Parts (United States), JD.com (China), Brock’s Performance (United States), BB Wheels (United States), Boogie Lights (United States) and RTW Wheels (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Metal Tech 4×4 (United States), Sportbike Track Gear (United States) and Competition Motorsport (United States).
Segmentation Overview
AMA Research has segmented the market of Global E-commerce Automotive market by and Region.
On the basis of geography, the market of E-commerce Automotive has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vehicle, the sub-segment i.e. Passenger Vehicle will boost the E-commerce Automotive market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Components, the sub-segment i.e. Infotainment & Multimedia will boost the E-commerce Automotive market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software Solutions, the sub-segment i.e. Business to Business will boost the E-commerce Automotive market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Aggressive Expansion of OEMs into Aftermarket Activities and Digitization of Channels and Interfaces
Market Growth Drivers:
Increasing Influence of (Digital) Intermediaries and Higher Price Liquidity and Greater Diversity of Supply for Customers
Challenges:
Limited Access to High-Speed Internet
Restraints:
Slow Websites Can Hamper or Kill Sales
Opportunities:
As Strong Opportunity in For Leading Existing Ecommerce Providers to Invest In Automatic Sector
Market Leaders and their expansionary development strategies
In October 2023, Carvana acquired Cazoo this acquisition consolidated two major online used car retailers in the US, creating a dominant player in the market and signaling a potential trend of consolidation in the online automotive space.
In October 2023, CarMax Online Store Expansion: CarMax, the leading used car retailer in the US, launched an expanded online store with improved vehicle search and purchase capabilities, aiming to streamline the online car buying experience.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Automotive industry, E-commerce players, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.