Automotive E-Commerce Market’s Progress Amidst Corona Virus Pandemic is Constructive, Claims MRFR | COVID 19 Outbreak- Forecast 2023
Automotive E-Commerce Market: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation By Components (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, Electrical Product), Consumer (B2B, B2C), Vehicle Type and Region- Forecast 2023
Pune, India – June 4, 2020 /MarketersMedia/ —
Automotive E-Commerce Market Business Review
In its research report, Market Research Future (MRFR), highlights that the global automotive e-commerce market for generators 2020 is projected to rise exponentially over the forecast period, thereby ensuring significant market valuation and a healthy CAGR over the review period.
The key market players operating in the global market as identified by MRFR are Taobao (China), eBay Inc. (U.S.), Amazon.com, Inc. (U.S.), Tmall.com (China), and Alibaba Group Holding Limited (China). Wal-Mart Stores, Inc. (U.S.), Denso Corporation (Japan), JD.com, Inc. (China), Snapdeal (India), and American Tire Distributors Holdings, Inc.(U.S.) are among some others.
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Drivers and Restraints
The automotive e-commerce market is driven by several factors, such as the aging car fleet, the growth of the global e-commerce industry, and the digitization of platforms and applications. Factors such as higher transparency in prices and greater diversity in components also support its growth. Rising internet penetration, per capita consumer income and the number of online shoppers are also contributing to the rise.
The growing impact of digital transformation also reshapes the global car industry. There is also a progressive transition from traditional legacy systems to the modern world powered by Big Data, Predictive Analytics, Innovation and IoT. Digitization allows players on the aftermarket to further increase the value of the automotive aftermarket as networking lets them get closer to the end user and produce big data.
In the first quarter of 2020, the automobile industry was experiencing a sharp decline in vehicle sales due to shutdowns in most nations coupled with an oil price battle. Major OEMs in the automotive sector have practiced different approaches to minimize the effect of the pandemic on their company by taking inventory from their dealerships and assessing to open up market and restart services. A sudden and serious effect In the global automotive industry, the COVID-19 pandemic has been observed with related symptoms such as the closure of assembly plants in the US, a decline in exports of Chinese parts and large-scale manufacturing interruptions throughout Europe. This pandemic has created strong competition and pressure on an industry that is already coping with a downward shift in global demand, likely to increase mergers & acquisitions.
Segmentation Analysis
The segmentation of the global automotive e-commerce market comprises components, vehicle type, and consumer.
By components, the market has been segmented into infotainment and multimedia, engie components, tires and wheels, interior accessories, and electrical products.
By vehicle type the market has been segmented into passenger vehicles, and commercial vehicles.
The consumr segment comprises b2b and b2c.
Regional Evaluation
The global business regional analysis was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world.The growth of the automotive e-commerce market is projected to dominate Europe area over the forecast period. Because of the rise in e-commerce Europe is one of the main markets for automotive e-commerce. The use of e-commerce provides a greater degree of versatility and cost-customization by automotive product purchasers. Consumers’ that tendency to cross-border online shopping reflects a rising awareness that purchasing from another country, where the cost is low, will mean lower prices and a wider variety of goods or brands. As a medium, the internet can greatly benefit from the increasing customer understanding of cross-border shopping due to its immediate advertisement potential and the ease and speed at which companies can sell their goods at the best price.
Asia Pacific is a key market, owing to the region’s major e-commerce players including Alibaba Group, Amazon.com, Flipkart Internet Private Limited and E-bay Inc. Initiatives like Digital India, and alliances between providers of e-commerce sites and brick & mortar stores, are expected to further boost the market. The growth of the Asia Pacific automotive parts manufacturing industry is driven primarily by the growing automotive manufacturing industry , especially in countries such as China, Korea and India. The region’s lucrative automotive industry is driving the growth of Asia Pacific ‘s online automotive parts and components market. The market ‘s major players in the e-commerce automotive aftermarket focus primarily on differentiating goods and services to improve their consumer traction. Major manufacturers of automotive parts are now adopting the online platforms to boost their customer base. The industry players also support the online distribution platform for producing higher revenues.
Scope of Report
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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List Of Tables
Table 1 Global Automotive E-Commerce Market: By Region, 2017-2023
Table 2 North America Automotive E-Commerce Market: By Country, 2017-2023
Table 3 Europe Automotive E-Commerce Market: By Country, 2017-2023
Table 4 Asia Pacific Automotive E-Commerce Market: By Country, 2017-2023
Table 5 RoW Automotive E-Commerce Market: By Country, 2017-2023
Continued………..
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
Continued……….
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Website: https://www.marketresearchfuture.com/reports/automotive-ecommerce-market-4682
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