The global automotive ecommerce market will grow at a whopping 22.20% CAGR by 2030, states the latest Market Research Future report.
New York, United States - January 22, 2022 /MarketersMedia/ —
Automotive e-commerce market is expected to expand at ~22.20 CAGR during the forecast period (2022-2030).
The global E-commerce industry is in a state of expansion with consolidation. More consumers are buying digitally, and worldwide retail E-commerce sales are rising. At the same time, the major international players such as Amazon and Alibaba are widening their reach by buying up smaller local platforms, especially in flourishing e-commerce markets.
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The automotive e-commerce market is driven by numerous factors such as aging vehicle fleet, growth of global e-commerce industry, and digitization of channels and interfaces. Factors such as higher price transparency, and greater diversity of parts also support its growth. Rise in internet penetration, per capita income of the consumers, and the number of online shoppers also add to the growth.
The onset of the COVID-19 pandemic impacted the automotive e-commerce market severely. Disruptions in supply chain influenced the factory decisions of OEMs and automakers. Manufacturers have struggled with shortages of various body parts and key raw materials and decided in restricting production. Besides, the outbreak obstructed the sales of new cars in the automotive e-commerce market. The market however is rapidly coming back to normalcy experiencing the steadily increased need. The worth of the market will pick up further after the uplift of the government imposed lockdown in several countries.
Eminent market players profiled in the global automotive e-commerce market report include
eBay Inc. (U.S.)
and Alibaba Group Holding Limited (China). Wal-Mart Stores
Denso Corporation (Japan)
and American Tire Distributors Holdings
Inc.(U.S.) are among others.
Key players have incorporated several strategies to stay at the forefront such as mergers, collaborations, new product launches, and more.
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3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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Europe to Spearhead Automotive Ecommerce Market
Europe will spearhead the automotive ecommerce market over the forecast period. The region being a major market for automotive e-commerce for the growth in e-commerce, increasing inclination of consumers towards cross-border online shopping, immediate advertising potential and the speed and ease with which businesses can provide their goods at best prices are adding to the global automotive ecommerce market growth in the region.
North America to Hold Significant Growth in Automotive Ecommerce Market
North America will have significant growth in automotive ecommerce market over the forecast period. Growing need for hassle-free purchasing, the rising preference of regional consumes for online shopping, the presence of well-developed infrastructure, and the growing need for luxury and premium cars are adding to the global automotive ecommerce market growth in the region.
The report for Global Automotive e-commerce market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight into the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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