Global Automotive E-Commerce Market

Global Automotive E-Commerce Market Size, Share, Growth Analysis, By Component(Informational and Multimedia, Engine), By Vehicle Type(Passenger, Commercial) - Industry Forecast 2024-2031

Report ID: SQSG25AG2003 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 64 | Figures: 75

Global Automotive E-Commerce Market Dynamics

Automotive E Commerce Market Driver

  • Rapid development in the global automotive e-commerce market is driven by the rising demand for OEM technologies and car sales. The e-commerce business might help new and used car sales. E-commerce platforms are also becoming more and more popular as consumers become more aware of their marketing potential and appreciate how easy and quick, they are to use.
  • The primary factor driving the expansion of the automotive e-commerce market is the growing propensity of consumers to buy aftermarket automotive products directly from the manufacturer. Due to this, they are able to receive same-day delivery, affordable prices, additional offers and discounts, and many other benefits. Before selecting the desired goods, users in this mode can do in-depth research and comparisons, which might be time-consuming in a physical store.

Automotive E Commerce Market Restraint

  • The rising accessibility of fraudulent auto components and modules is predicted to restrain industry expansion. Mock-ups of genuine auto parts are made by a lot of producers and sold for less money. The counterfeit market typically targets parts that are easy to reproduce and have a high profit margin, such as tie rods, steering arms, windshields, taillamps, headlamps, bumpers, and filters. Due to an increase in the number of manufacturers of automotive spare parts, demand for second-copy car parts is rising from a number of geographical areas. These devices are of poor quality and have a high probability of failure frequently. This creates a negative image, which has an effect on the automotive e-commerce sector.
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FAQs

The Automotive E-Commerce Market segmented on the basis of application is segmented into investment and multimedia, engine components, tires & wheels, interior accessories, and electrical products.

Automotive e-commerce helps in effectively expanded customer list, optimize expenses and business processes, acquiring additional revenue streams using Omnichannel marketing, customized shopping experience.

Global Automotive E-Commerce Market size was valued at USD 38.67 billion in 2019 and is poised to grow from USD 45.44 billion in 2023 to USD 193.98 billion by 2031, growing at a CAGR of 17.5% in the forecast period (2024-2031).

The Global Automotive E-commerce Market is with a high level of competition. As, significant companies in the automotive aftermarket sector have started diversifying their service offerings and inculcating e-commerce sales channels to improve revenue generation practices. Auto parts sellers have started increasing investments in B2B interface, merchandising, and e-commerce functionality to improve and enhance their service offerings. 'AutoZone', 'Amazon.com, Inc.', 'eBay Inc.', 'O'Reilly Automotive, Inc.', 'Advance Auto Parts, Inc.', 'Pep Boys - Manny, Moe & Jack', 'U.S. Auto Parts Network, Inc.', 'CarParts.com, Inc.', 'Alibaba Group Holding Limited', 'JD.com, Inc.', 'AutoAnything, Inc.', 'Summit Racing Equipment', 'Tire Rack', 'RockAuto, LLC', 'TireBuyer.com', 'Parts Geek, LLC', '1A Auto, Inc.', 'AutoAnything', 'CARiD.com', 'BuyAutoParts.com'

Rapid development in the global automotive e-commerce market is driven by the rising demand for OEM technologies and car sales. The e-commerce business might help new and used car sales. E-commerce platforms are also becoming more and more popular as consumers become more aware of their marketing potential and appreciate how easy and quick, they are to use.

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Asia Pacific region held the greatest share in the automotive e-commerce market. This is mostly because it is the location of the world's largest automobile sector, which produces more than 50 million vehicles annually. It is greatly influenced by the soaring GDP and rising disposable income of people living in developing nations like China, India, and South Korea. These nations make significant contributions to increasing vehicle sales, which benefits the e-commerce automotive aftermarket.

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Global Automotive E-Commerce Market

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