Dealer Management System Market to grow with CAGR of 4.1%% by 2032 | Autosoft, Inc. (US), Bit Dealership Software, Inc. (US), CDK Global LLC (US)

The global dealer management system market was valued at US$ 7.6 billion in 2022 and it is anticipated to grow up to US$ 11.5 billion by 2032, at a CAGR of 4.1% during the forecast period.

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A dealer management system (DMS) is software that equips dealers with powerful tools. The platform includes actual-time insights, automates tasks, and turns data into profitable growth, all on a single platform built especially for several dealerships. The dealer management systems also allow payroll services, seamless financial reporting, and cash flow management. The systems integrate a suite of the finest technologies such as business intelligence & reporting, customer relationship management (CRM), and inventory management. They further assist dealers in enhancing customer conversions and customer retention, allowing them to maintain a remote help desk.

Market Drivers and Trends

Over the past few years, the automotive sector has experienced numerous technological advancements. The impact of modern technologies has shaped the automotive sector over the course. The advancements in digital technologies have made it possible for automobiles to implement advanced solutions. The DMS is an optimal solution for automobile companies involved in spare parts inventory and works order management tasks. The system incorporates CRM and business intelligence tools to track automobile manufacturer and customer relationships. Several car dealers use DMS to manage their inventory and sales.

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These systems also enable car dealers to streamline interactions between customers, dealers, and original equipment manufacturers (OEMs). Moreover, DMS support the unique needs of the retail automotive industry. The DMS drive the sales of new & used vehicles, consumer financing, repair & maintenance services, and vehicle & parts inventory management. Besides, DMS allow cash flow management, financial reporting, and payroll services. The system incorporates OEM data processing systems and allows automotive retailers to order vehicles & parts, process warranties, and receive vehicle records. Thus, the increasing adoption of innovative dealer management systems in the automotive sector propels the market growth.

Market Restraints and Challenges

In this day and age, cyber security should be a top priority in companies of all types and sizes. The number of threats and their sophistication is increasing by the day. Data has become the lifeblood of most organizations and the major driver of day-to-day operations and top-level decision-making. Security breaches that lead to loss of data can result in a catastrophe.

Not taking cyber security seriously can lead to irreparable reputational damage, fines & issues with licensing in the case of regulated businesses, adverse media coverage, increased anxiety & stress levels in the workforce, business interruption, and breach of privacy & financial losses. And some of the DMS solutions are unable to counter cyber-attacks. Thus, security concerns due to the lack of cybersecurity measures are acting as a restraining factor for the global dealer management system market.

Major Players in the Global Dealer Management System Market

The key players studied in the global dealer management system market are Autosoft, Inc. (US), Bit Dealership Software, Inc. (US), CDK Global LLC (US), COX Automotive (US), DealerBuilt (US), Dominion Enterprises (US), e-Emphasys Technologies, Inc. (US), Evopos Ltd (UK), Integrated Dealer Systems (US), and PBS Systems (Canada).

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COVID-19 Impact

The COVID-19 pandemic compelled many countries to impose lockdown in 2020, which ravaged businesses in these countries and led to the discontinuation of auto dealership operations. DMS helps dealers to stay updated regarding the current market trends and changes. Thus, a slump in the businesses of dealers also slightly hindered the growth of the dealer management systems market in 2020.

However, as per the National Automobile Dealers Association (NADA), the US government allowed the auto dealership business in the COVID-19 pandemic in 2020. Since auto dealers were back in business, the demand for the DMS upsurged, specifically in the North American region.

Global Dealer Management System Market Segmentation

By Deployment Type

On-Premise
Cloud-Based

By Application

Automotive
Mining
Construction
Agriculture
Others

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