Press release
Auto Collision Estimating Software Market Outlook 2024: Exclusive Report By The Business Research Company
Auto Collision Estimating Software Market
The Business Research Company offers in-depth market insights through Auto Collision Estimating Software Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The auto collision estimating software market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to increased collision rates, stringent regulatory compliance, growing complexity in vehicle technology, rising consumer expectations, insurance industry evolution.The auto collision estimating software market size is expected to see rapid growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to integration of artificial intelligence (AI), rise in electric and autonomous vehicles, focus on environmental sustainability, global expansion of automotive aftermarket, increased emphasis on customer experience. Major trends in the forecast period include integration of AI and machine learning, cloud-based solutions, enhanced mobile solutions, data analytics for performance optimization, regulatory compliance and standardization.
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Market Segmentation:
The auto collision estimating software market covered in this report is segmented -
1) By Type: Cloud-based Auto Collision Estimating Software, On-premise Auto Collision Estimating Software
2) By Deployment Model: SaaS (Software as a Service), Traditional Software
3) By Application: Small and Medium Enterprises (SMEs), Large Enterprises
4) By End-users: Independent Auto Repair Shops, Dealerships, Fleet Management Companies, Insurance Companies
Major Driver - Rise In Road Accidents Fuels Growth In The Auto Collision Estimating Software Market
The increase in road accidents is expected to propel the growth of the auto collision estimating software market going forward. Road accidents, or traffic accidents, refer to incidents involving vehicles, pedestrians, cyclists, or other road users on public roads or highways that result in damage, injury, or loss of life. Auto collision estimating software is used in the aftermath of road accidents, streamlining repairs, claims, and overall efficiency by analyzing photos, vehicle information, and damage details to generate repair estimates quickly and accurately. For instance, in May 2023, according to the Government Digital Service, a UK-based government body, the number of fatalities on UK roads increased by 8.7% from 1,558 in 2021 to 1,695 in 2022. Therefore, the increase in road accidents is driving the growth of the auto collision estimating software market.
Competitive Landscape:
Major companies operating in the auto collision estimating software market report are Intuit Inc., Snap-On Inc., ABRA Auto Body & Glass LP, Solera Holdings Inc., CCC Intelligent Solutions Inc., Enlyte Group LLC, AudaExplore, Alldata LLC, Shopmonkey Inc., Solera Inc., Auto Data Direct Inc., Comp-Est, Bodyshop Solutions Ltd., Auto Data Solutions Inc., Web-Est , R.O. Writer, MobiTech International Inc., Nexsyis Collision, Bodyshop Booster, DamageiD, Fastrack Autobody Ltd., Audatex , Estify Inc., Repair Shopr, SMART Estimator Ltd.
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Top Trend - Advancements In Blueprinting Process Transforming The Collision Repair Software Market
Major companies operating in the auto collision estimating software market are concentrating on new innovations such as repair package solutions to reinforce their position in the market. These solutions provide a common language and framework that facilitate the seamless exchange of data between auto collision estimating systems, insurance companies and various other key stakeholders involved in the repair process. For instance, in October 2023, SUNÂ Collision, a US-based company that delivers OEM collision and mechanical repair information, launched revolutionary repair package solution that helps to automate the laborious blueprinting process, providing comprehensive documentation to support estimates and insurance claims. It represents a huge time-saver for service writers/estimators, allowing them to produce a fool-proof repair plan in seconds, eliminating the need for manual data entry.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Auto Collision Estimating Software Market Characteristics
3. Auto Collision Estimating Software Market Trends And Strategies
4. Auto Collision Estimating Software Market - Macro Economic Scenario
5. Auto Collision Estimating Software Market Size And Growth
…..
27. Auto Collision Estimating Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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