New York, Dec. 10, 2021 (GLOBE NEWSWIRE) -- Automotive E-Commerce Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Automotive E-Commerce Market Information by Components (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, Electrical Product), Consumer (B2B, B2C), Vehicle Type and Region - Forecast to 2030”, the market is expected to expand at ~24.8% CAGR during the forecast period (2022-2030).
List of the companies profiled in the global Automotive E-Commerce Market research report are –
- eBay Inc. (US)
- Amazon.com, Inc. (US)
- Taobao (China)
- Alibaba Group Holding Limited (China)
- Tmall.com (China)
- Wal-Mart Stores, Inc. (US)
- Snapdeal (India)
- JD.com, Inc. (China)
- Denso Corporation (Japan)
- American Tire Distributors Holdings, Inc. (US)
- Among others.
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Competitive Analysis
The automotive e-commerce market witnesses significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and technology launch. Matured industry players make strategic investments to drive research and development activities and expansion plans.
For instance, recently, on Nov.15, 2020, Wipro Limited, a global IT, consulting, and business process services company, launched an automotive e-commerce cloud solution - Click-Shift-Drive for D2C marketplaces. This scalable, flexible, and rapidly deployed end-to-end solution is a contactless car-buying solution addressing the complete automobile-buying journey. Click-Shift-Drive enables automakers and dealers to offer everything from research and loan approval to purchase and delivery at a time.
Report Scope:
| Report Attribute/Metric | Details |
| Market Size | 2030: Significant Value |
| CAGR | 24.8% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Components, Consumer and Vehicle Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Amazon.com, Inc. (U.S.), eBay Inc. (U.S.), Taobao (China), Tmall.com (China), and Alibaba Group Holding Limited (China). Wal-Mart Stores, Inc. (U.S.), JD.com, Inc. (China), Snapdeal (India), Denso Corporation (Japan), and American Tire Distributors Holdings, Inc.(U.S.) |
| Key Market Opportunities | · The influence of digital transformation is reshaping the automotive industry · Digitalization is allowing customers to connect faster to the businesses |
| Key Market Drivers | · Aging vehicle fleet · Growth of global e-commerce industry · Digitization of channels and interfaces |
Rising Automotive Ecosystem Drives the Automotive e-Commerce Landscape
The global automotive e-commerce market is growing at a rapid pace, mainly due to the rising sales of vehicles and demand for OEM technologies. E-commerce business offers an attractive prospect for new and old car sales. Besides, the growing consumer awareness about the advertising potential and the ease & speed that ecommerce platforms offer substantiate the market size.
With the spurring rise in the automotive sector and economic growth worldwide, the market value is estimated to escalate further over the next few years
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Additionally, the rise in global economy OEMs and MRO service outsourcing are major driving forces driving the automotive e-commerce industry. Also, the rising availability of online warehouse distributors and automotive stores also acts as significant tailwinds benefitting automotive e-commerce growth. Technological upgrades and the development of many e-commerce platforms push the growth of the market.
Today, consumers prefer buying automobiles and components online. Simultaneously, major international players such as Amazon and Alibaba are expanding their global platforms by buying up smaller local platforms, especially in emerging markets. Furthermore, the growth of the global e-commerce industry and digitization of channels and interfaces push the market revenues. The rise in internet penetration, per capita income of the consumers, and the number of online shoppers positively impact market growth.
Digitization has allowed substantial improvements in the value chain and decreased lead times for workshops and customers. With the shortening value chain, the margin of distributors and middlemen can be divided among customers, parts manufacturers, and online players. Also, the reduction in trade steps has enabled the market players to expect lower and more stable margins.
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COVID-19 Impacts
The onset of coronavirus affected the automotive e-commerce market severely. Supply chain bottlenecks influenced the factory decisions of automakers and OEMs. Manufacturers struggled with shortages of several body parts & key raw materials and decided to restrict production. Also, the pandemic obstructed sales of new automobiles in the automotive e-commerce market.
However, the automotive e-commerce market is rapidly returning to normalcy, witnessing the steadily increasing demand. The value of the automotive e-commerce market would pick up further following the uplift of the lockdown in many countries.
Segmentation
The market is segmented into components, vehicle types, consumers, and regions. The component segment is bifurcated into infotainment & multimedia, engine components, tires & wheels, interior accessories, electrical products, and others.
The vehicle type segment is bifurcated into heavy commercial vehicles (HCVs), light commercial vehicles (LCVs), and passenger cars. The consumer segment is bifurcated into B2B and B2C. The region segment is bifurcated into Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Regional Analysis
Europe dominates the global automotive e-commerce market. The rising adoption of e-commerce platforms with greater flexibility and customization features and increasing online sales of automotive components drive the market growth. The growing inclination of consumers towards purchases from international markets where the low-cost components and a wider range of products or brands are available boosts the market size.
Segmentation of Market covered in the research:
Automotive E-Commerce Market Information by Components (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, Electrical Product), Consumer (B2B, B2C), Vehicle Type and Region - Forecast to 2030
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
