Wilmington, New Castle, Delaware, April 30, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Automotive Dealer Management System Market by Component (Hardware and Software & Services), Deployment (On-cloud and On-premise), and Application (Customer Relationship Management, Dealer Tracking, Inventory Management, Finance & Sales, and Others). Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global automotive dealer management system market generated $4,389.30 million in 2022, and is anticipated to generate $11,247.80 million by 2032, witnessing a CAGR of 9.87% from 2023 to 2032.
Prime Determinants of Growth
The global automotive dealer management system market has experienced significant growth and transformation, driven by a combination of growth in demand for cloud-based automotive dealer management systems, increase in sales of automobiles globally, and integration of AI & ML capabilities. Automotive dealer management can help streamline different business operations such as sales, service, inventory management, customer relation management, insurance, financing, and accounting. Moreover, increased remote working culture in the automobile sector and utilizing automotive dealer management system data for decision-making are expected to shape the industry's future, enhancing safety and efficiency.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $4389.30 Million |
| Market Size in 2032 | $11,247.80 Million |
| CAGR | 9.87% |
| No. of Pages in Report | 221 |
| Segments Covered | Component, Deployment, Application, and Region |
| Drivers | Growth in demand for cloud-based automotive dealer management system |
| Increased sales of automobiles globally | |
| Integration of AI and ML capabilities | |
| Opportunities | Increased remote working culture in the automobile sector |
| Utilizing automotive dealer management system data for decision-making | |
| Restraints | Growth in security concerns |
| High technology cost |
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The hardware segment to maintain its leadership throughout the forecast period
By component, the hardware segment accounted for the largest market share in 2022 and is estimated to maintain its leadership throughout the forecast period 2023 to 2032, due to increased use of hardware such as point of sales, networking equipment, workstations, customer displays, and diagnostics tools in automotive dealer management system. However, the software & service segment is projected to have the highest CAGR of 10.8% from 2023 to 2032, owing to software and services often requiring regular upgrades to stay updated and secure the data. Hence, there is a growing inclination toward software and services.
The on-cloud segment to dominate the market during the forecast period
By deployment type, the on-premises segment accounted for the largest market share in 2022, in terms of revenue and a CAGR of 10.9%, as on-premises system provides more control over the stored data and offers total control over the hardware and software. Moreover, the on-cloud segment is anticipated to witness a strong growth rate of CAGR of 9.0% from 2023 to 2032, owing to this system allowing companies to save money as cloud-based platforms allow companies to pay for the service on a subscription or pay-per-use basis. Companies can save money on cloud deployment, and they offer pay for services on a subscription or pay-per-use basis. These enable businesses to drastically reduce their operational costs.
The customer relation management segment to maintain its leadership throughout the forecast period
Depending on application, the customer relationship management segment accounted for the largest market share in 2022 and a CAGR of 10.5% from 2023 to 2032, owing to customer relation management allowing businesses to analyze customer behavior, preferences, and purchasing patterns. However, the other segment is projected to register the highest CAGR of 11.8% from 2023 to 2032, owing to continuous technological advancement in automotive dealer management systems.
Asia-Pacific to maintain its dominance by 2032
Region wise, North America held the highest market share in terms of revenue in 2022 and a CAGR of 9.3%, owing to the strong automobile sector in the region and high rate of adoption of advanced technology. However, Asia-Pacific is anticipated to witness the fastest CAGR of 11.5% from 2023 to 2032, owing to increase in the trend of consumers toward more fuel-efficient vehicles in the region, which resulted in increased sales of automobiles.
Leading Market Players:
- Wipro
- Oracle
- CDK Global LLC
- Dealertrack Inc.
- Elva DMS
- Quorum Information Technologies Inc.
- Irium Software
- Autosoft Inc.
- GaragePlug Inc
- The Reynolds and Reynolds Company
The report provides a detailed analysis of these key players in the global automotive dealer management system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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