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Global Automotive E-Commerce Market Research Report - Forecast to 2023” - Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.Automotive E-Commerce Industry Key Players Analyzed in Report Are:
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.) are among others.
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Automotive E-Commerce Market Highlights:
The automotive e-commerce market is driven by numerous factors such as the aging vehicle fleet, the growth of the global e-commerce industry, and digitization of channels and interfaces. Key international players such as Amazon and Alibaba are expanding their reach by buying up smaller local platforms, especially in flourishing e-commerce markets, which in turn, is impacting the market growth positively.
The increased influence of digital transformation is also reshaping the global automotive industry. Digitization is bringing upon substantial improvements in the value chain and lessened lead times for workshops and customers. At the same time, automotive aftermarket is perceiving a gradual shift from traditional legacy systems to the digitalized world powered by big data, predictive analytics, mobility, and internet-of-things (IoT). The digitization of data is allowing players operating in the aftermarket to gain further value as connectivity helps them move closer to the end customer.
On the flip side, automotive e-commerce market is confronted with some challenges such as availability of the options of various payment methods, same day delivery policies, and handling the return request of the customers. However, these challenges are negligible in comparison with the benefits that E-Commerce platform offers. Hence MRFR confirms that the global automotive e-commerce market is poised to witness galore accruals in the next five years.
Global Automotive E-Commerce Market is segmented into flour key dynamics for an easy grasp and enhanced understanding.
By Components: Infotainment & Multimedia, Engine Components, Tires & wheels, Interior Accessories, and Electrical Product among others.
By Consumers: B2B and B2C, others.
By Vehicle Types: Passenger vehicles and Commercial Vehicles, others.
By Regions: North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Regional Analysis:
The global market is segmented on the basis of geography in the regions of Asia Pacific, North America, Europe, and the Middle East & Africa. Europe region is expected to dominate the growth of the automotive e-commerce market over the forecast period. Europe is one of the major markets for automotive e-commerce due to the growth in e-commerce. The adoption of e-commerce ensures a greater degree of flexibility and customization spending by purchasers of the automotive components. The growing inclination of consumers towards cross-border online shopping, highlights an increasing realization that buying from another country, where the cost are low, would involve lower prices and a wider range of products or brands. The internet, as a channel, will benefit greatly from the growing consumer awareness about cross-border purchasing because of its immediate advertising potential and the ease and speed, with which businesses can offer their products at best prices.
Asia Pacific is a key market, owing to major e-commerce players in the region, such as Amazon.com, Alibaba Group, Flipkart Internet Private Limited, and E-bay Inc. Initiatives such as Digital India, and partnerships between e-commerce platform providers and brick & mortar stores, are further expected to boost the market. The development of the auto parts manufacturing industry in Asia Pacific is primarily driven by the growing automobile manufacturing industry, especially in countries, such as China, Korea, and India. The lucrative automotive industry of the region is driving the growth of the online automotive parts and components market in Asia Pacific. The major e-commerce automotive aftermarket players in the market are majorly focusing on differentiation of products and services for enhancing their customer traction. Major automobile component manufacturers are also adopting the online channels for strengthening their customer base. The market players are also adopting the online sales channel for higher revenue generation.
List of Tables:
TABLE 1 GLOBAL AUTOMOTIVE E-COMMERCE MARKET, BY TECHNOLOGY
TABLE 2 GLOBAL AUTOMOTIVE E-COMMERCE MARKET, BY CHANNEL TYPE
TABLE 3 GLOBAL AUTOMOTIVE E-COMMERCE MARKET, BY VEHICLE TYPETABLE 4 GLOBAL AUTOMOTIVE E-COMMERCE MARKET, BY REGIONS
TABLE 5 NORTH AMERICA AUTOMOTIVE E-COMMERCE MARKET, BY TECHNOLOGY
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LIST OF FIGURES:
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 GLOBAL AUTOMOTIVE E-COMMERCE MARKET: BY TECHNOLOGY (%)
FIGURE 3 GLOBAL AUTOMOTIVE E-COMMERCE MARKET: BY CHANNEL TYPE (%)
FIGURE 4 GLOBAL AUTOMOTIVE E-COMMERCE MARKET: BY END MARKET (%)
FIGURE 5 GLOBAL AUTOMOTIVE E-COMMERCE MARKET: BY REGION
Continued…
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