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Dealer Management System Market Worth US$ 10,028.30 Million, Globally, by 2027 at 6.8% CAGR - Exclusive Report by The Insight Partners
The Insight Partners published latest research study on "Dealer Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (On-Premise and Cloud) and Application (Automotive, Mining, Construction, Agriculture, and Others" The dealer management system market was valued at US$ 6,981.67million in 2019 and is projected to reach US$ 10,028.30 million by 2027; it is expected to grow at a CAGR of 6.8% during 2020-2027.The Sample Pages Showcases Content Structure and Nature of Information Included in This Research Study Which Presents A Qualitative and Quantitative Analysis: https://www.theinsightpartners.com/sample/TIPTE00002462/?utm_source=OpenPR&utm_medium=10365
Dealer management systems enable auto dealers to offer swift and reliable purchase processes and services to customers. Additionally, the system helps meet customer requirements by facilitating coordination between products and services, and ensuring the dealers are ready and equipped with the parts required for repairs; this simplifies the repair and maintenance services and inventory management process. The dealership management systems also allow seamless financial reporting, payroll services, and cash flow management. The systems integrate a suite of the finest technologies such as customer relationship management (CRM), business intelligence and reporting, and inventory management. They further assist auto dealers in enhanced customer conversions and customer retention, along with allowing them to maintain a remote help desk.
The increasing investments in the dealer management systems, mounting adoption of cloud technology, and shift from paper work to automation are driving the growth of the dealer management system market. Moreover, rising demand for better inventory management; improved sales tracking; enhanced CRM; improved commission and insurance calculation; and technological advancements in dealer management systems with incorporation of artificial intelligence (AI) and data analytics capabilities to them would surge the global market growth in the coming years. However, security concerns due to the lack of cybersecurity measures hinder the market growth. Real-time visibility, simplified business operations, and engaging customer communication are positively influencing the growth of the global dealer management system market
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Rising Advancements in Automotive Industry Fuels Dealer Management Market Growth
From the past few decades, the automotive industry has experienced numerous technological advancements. The impact of modern technologies has shaped the industry over the course. The advancements in digital technologies have made it possible for automobiles to implement advanced solutions. The dealership management system is an optimal solution for automobile companies involved in spare parts inventory and work order management tasks. The system incorporates customer relationship management (CRM) and business intelligence tools to track manufacturer and customer relationship. Several car dealers are highly using dealer management systems to manage their inventory and sales. These systems also enable auto dealers to streamline interactions between customers, dealers, and OEMs. Moreover, they support the unique needs of the retail automotive industry. The dealer management systems drive the sales of new and used vehicles, repair and maintenance services, consumer financing, and vehicle and parts inventory management. Besides, they allow financial reporting, cash flow management, and payroll services. The system incorporates with OEM data processing systems and allow automotive retailers to order vehicles and parts, process warranties, and receive vehicle records. Thus, heavy adoption of innovative dealer management systems in the automotive industry is propelling the market growth.
The market is also driven by the inorganic and organic strategies implemented by the companies to expand their dealer management system business. For instance, in February 2020, Tekion Corp. rolled out a cloud-based platform-Automotive Retail Cloud-with all functionalities of a dealer management system. It links major stakeholders of the industry, allowing them to maximize operational efficiencies.
Players operating in the dealer management system market are mainly focusing on the development of advanced and efficient products.
In 2021, CDK Global, Inc. introduced Neuron, a Big Data platform connected to Fortellis automotive commerce exchange. The Neuron is designed to convert high volumes of industry information into actionable insights for dealers, original equipment manufacturers (OEMs), and third-party software developers.
In 2020, Integrated Dealer Systems (IDS) launched Service360 to help dealers revolutionize their service and reduce repair event cycle time (RECT). The IDS Service360 is an end-to-end service solution that integrates seamlessly with the IDS Astra G2 dealership management system.
The global dealer management system market has been segmented as follows:
• Dealer Management System Market - by Deployment
• On-Premise
• Cloud
Dealer Management System Market - by Application
• Automotive
• Mining
• Construction
• Agriculture
• Others
Dealer Management System Market-CompanyProfiles
• ADAM Systems
• Autosoft Inc.
• Bit Dealership Software, Inc.
• CDK Global
• COX Automotive
• DealerBuilt
• Dominion Enterprises
• e-Emphasys Technologies Inc.
• Evopos
• Integrated Dealer Systems
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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