Product ID: SQSG25AG2003
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 Insights
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 market is being stimulated by the growing demand from consumers and independent retailers for access to more reasonably priced automotive aftermarket parts. E-commerce sales channels are being adopted by traditional auto merchants as well in order to boost income creation and improve customer service. The continued trend of pure-play retailers implementing e-commerce tactics is anticipated to drive the market's expansion.
The continued trend of people personalising and designing the interiors and exteriors of automobiles in accordance with their preferences and interests further encourages market expansion. Purchasing discretionary items like lights and accessories serves the objective of personalising frequently. This lessens the problems with installation prices and delivery speed, which lessens the effects of selecting and installing the wrong items. Due to their tiny size, these accessories are simpler to transport, allowing customers to instal them themselves.
The COVID-19 epidemic has caused a major disruption in the aftermarket for e-commerce. Due to the deployment of lockdowns by numerous regional governments, COVID-19 restricted automobile production and product development activity in several locations across the world. Additionally, e-commerce sales channels for automotive equipment have been used by traditional players as a result of global restrictions on supply chain activities, firm closures, and decreased revenues. When combined with conventional sales techniques, this trend has led to more effective sales, which are anticipated to present potential development opportunities during the projected period.
Customers find it challenging to estimate the cost of services or a product due to the automotive aftermarket market's complex requirements and multiple product specifications. Customers choose a standardised platform from a reputable brand to acquire goods and services in order to avoid paying excessive prices and receiving subpar customer service. By offering uniform services across their service region, large e-commerce platforms that sell products from numerous brands in various locations serve as service aggregators.
US Automotive E-Commerce Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Automotive E-Commerce Market Report Snapshots
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