E-Commerce Market For Automotive: 2019 Size, Trends, Leading Players, Merger, Acquisition, Growth Insight, Investments, With Regional Outlook To 2023
According to the latest report “Automotive E-Commerce Market by Components (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, Electrical Product), Consumer (B2B, B2C), Vehicle Type and Region with Forecast To 2023.
Pune, India – April 23, 2019 /MarketersMedia/ —
According to the latest report “Automotive E-Commerce Market by Components (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, Electrical Product), Consumer (B2B, B2C), Vehicle Type and Region with Forecast To 2023, published by Market Research Future, the Global Automotive E-Commerce Market to witness 6% compound annual growth rate by 2023.
Automotive E-Commerce Market Highlights:
eBay Inc. (U.S.), Amazon.com, Inc. (U.S.), Taobao (China), Alibaba Group Holding Limited (China), Tmall.com (China), JD.com, Inc. (China), Wal-Mart Stores, Inc. (U.S.), Snapdeal (India), American Tire Distributors Holdings, Inc. (U.S.), and Denso Corporation (Japan) are some of the prominent players at the forefront of competition in the global automotive e-commerce market. Profiling them in its analysis MRFR explores the strategies keeping them at the front
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Automotive E-Commerce Market Drivers and Restraints:
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 market is expected to witness growth opportunities as the major players in the market are collaborating with parts and repair information systems for promoting their automotive e-commerce business. Providers are also offering repair manuals and repair webinars for enabling the customers for proper installation of the automotive parts. E-tailors also offer professional customer hotline for ensuring that the right parts are ordered. However, the identification of damaged parts and installation of the online purchased parts are expected to hinder the market growth. Also, the players witness certain challenges due to the options of variable payment methods, same day delivery policies, and handling the return request of the customers. Thus, the automotive e-commerce market is expected to expand at ~6% CAGR during the forecast period.
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.
Automotive E-Commerce Market Segments Analysis:
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).
Automotive E-Commerce Market 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.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Continued…
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
Table 6 Global Automotive E-Commerce Market, By Components, By Regions, 2017-2023
Table 7 North America Automotive E-Commerce Market, By Components, 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
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL AUTOMOTIVE E-COMMERCE MARKET SHARE, BY COMPONENTS, 2016 (%)
FIGURE 9 GLOBAL AUTOMOTIVE E-COMMERCE MARKET, BY COMPONENTS, 2015-2023 (USD MILLION)
Continued…
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