A new market analysis indicates exponential growth in the global automotive e-tailing market, projecting an expansion from USD 45.42 billion in 2023 to USD 156.58 billion by 2031, exhibiting a robust CAGR of 16.88% during the forecast period of 2024-2031. The market value is estimated to be USD 52.54 billion in 2024. This significant growth is primarily driven by the rising adoption of digital platforms for purchasing automotive components and accessories, enabling seamless online transactions and streamlined procurement processes for both consumers and businesses.
Read Complete Report Details: https://www.kingsresearch.com/automotive-e-tailing-market-1513
The comprehensive report analyzes the global automotive e-tailing market, segmenting it by component (electrical components, infotainment and multimedia, engine components, tires and wheel, others), by vendor (OEM, third-party vendors), by vehicle (two-wheeler, passenger car), and regional landscape. This detailed segmentation provides valuable insights into the market’s dynamics and emerging trends.
Key drivers fueling the market’s expansion include:
- Rising Adoption of Digital Platforms: Consumers and businesses are increasingly comfortable with online purchasing, extending to automotive parts and accessories.
- Convenience and Accessibility: E-tailing platforms offer unparalleled convenience and accessibility, allowing customers to browse and purchase components from anywhere at any time.
- Wider Product Selection: Online marketplaces typically offer a significantly broader selection of automotive parts and accessories compared to traditional brick-and-mortar stores.
- Competitive Pricing: The online marketplace often fosters greater price competition, benefiting consumers.
- Streamlined Procurement Processes: E-tailing platforms offer efficient search tools, detailed product information, and simplified ordering processes, streamlining procurement for both individual consumers and businesses.
The report also highlights key market trends:
- Growing Dominance of Third-Party E-tailers: Third-party online marketplaces are gaining significant traction due to their wide product range and established e-commerce infrastructure.
- Increasing Online Sales of Tires and Wheels: The online sale of tires and wheels is witnessing substantial growth due to the convenience of direct delivery and installation services offered by some vendors.
- Rise of OEM Online Sales Channels: Original Equipment Manufacturers (OEMs) are increasingly establishing their own online channels to sell genuine parts and accessories directly to consumers.
- Integration of AI and Data Analytics: E-tailing platforms are leveraging AI and data analytics to personalize product recommendations, optimize pricing, and improve the overall customer experience.
- Expansion of Mobile Commerce (m-commerce): The increasing use of smartphones for online shopping is driving the growth of m-commerce within the automotive e-tailing sector.
This report offers a strategic overview of the global automotive e-tailing market, providing valuable insights for automotive component manufacturers, e-commerce platform providers, logistics companies, and automotive dealerships seeking to capitalize on the growing trend of online automotive parts and accessories sales.
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