Global Automotive Subscription Services Market Size, Share, Growth Analysis, By Service Provider(Original Equipment Manufacturer (OEM), Third-Party Service Providers), By Vehicle(Luxury Car, Executive Car) - Industry Forecast 2024-2031

Report ID: SQMIG35H2178 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Global Automotive Subscription Services Market News

In March 2023, Porsche made a statement announcing the introduction of a new subscription service for its Taycan electric vehicle.

In February 2023, In order to accommodate more cars and services, BMW disclosed it will be broadening its subscription service.

In January 2023, Mercedes-Benz revealed it would be introducing a new subscription service for its high-end automobiles.

Global Automotive Subscription Services Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Automotive Subscription Services Market size was valued at USD 2.65 billion in 2022 and is poised to grow from USD 3.24 billion in 2023 to USD 16.22 billion by 2031, growing at a CAGR of 22.30% during the forecast period (2024-2031).

The global automotive subscription services market offers a competitive and dynamic environment, with a wide range of businesses vying for a share of this expanding market. Established automotive giants, tech innovators, and creative startups are all part of the industry's heated competition. 'Cox Automotive, Inc. (USA)', 'Cluno GmbH (Germany)', 'Fair Financial Corp. (USA)', 'Flexdrive (USA)', 'Turo, Inc. (USA)', 'Carmudi Group (Germany)', 'ZoomCar (India)', 'Hertz Global Holdings, Inc. (USA)', 'Porsche Mobility (Germany)', 'Sixt SE (Germany)', 'Blinker (USA)', 'Borrow (USA)', 'Invygo (United Arab Emirates)', 'Cars on Demand (USA)', 'Yieldstreet (USA)', 'Wagonex (United Kingdom)', 'Carma Car (USA)', 'Fleks (Mexico)', 'Revolve Finance (USA)', 'Mycar Subscription (Malaysia)'

The popularity of vehicle subscription services is being driven by millennials in urban areas who are increasingly favoring access over ownership. Without the commitment of ownership, consumers desire convenience, adaptability, and a variety of vehicle experiences.

OEM Involvement: With their own subscription services, automakers are joining the subscription market so they can maintain client engagement and develop new revenue sources.

Europe took the lead in the global vehicle subscription market, commanding a share valued at 1.1 billion in 2022, and this dominance is projected to extend into the foreseeable future. The region's supremacy can be attributed to the presence of numerous innovative mobility service startups and well-established automotive giants like Mercedes and BMW, which are propelling the market's expansion. Furthermore, Europe's robust automotive sector has prompted established automakers to pivot towards mobility service-oriented models, aligning with the preferences of the new generation. This strategic shift is poised to create lucrative prospects for the market in the region, fostering growth.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Automotive Subscription Services Market Size, Share, Growth Analysis, By Service Provider(Original Equipment Manufacturer (OEM), Third-Party Service Providers), By Vehicle(Luxury Car, Executive Car) - Industry Forecast 2024-2031

Global Automotive Subscription Services Market News

Global Automotive Subscription Services Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Automotive Subscription Services Market?

Who are the key vendors in the Global Automotive Subscription Services Market?

What is the key driver of Global Automotive Subscription Services Market?

What is the key market trend for Global Automotive Subscription Services Market?

Which region accounted for the largest share in Global Automotive Subscription Services Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300