Global Auto Dealership CRM Software Market 2024 Competitive Landscape, Industry Analysis, Segmentation And Forecast To 2033

The auto dealership CRM software market size has grown rapidly in recent years. It will grow from $5.52 billion in 2023 to $6.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to growing complexity in vehicle technology, rising consumer expectations, insurance industry evolution.

The auto dealership CRM software market size is expected to see strong growth in the next few years. It will grow to $8.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. 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.

Market Overview -
Auto dealership CRM software refers to a customer relationship management solution designed specifically for car dealerships to help manage interactions with customers, streamline sales processes, and enhance customer relationships. It enables dealerships to manage interactions with customers, coordinate a multi-channel sales operation, and foster deeper customer relationships.

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Automotive Industry Growth Accelerates Auto Dealership CRM Software Market Expansion
The growing automotive industry is expected to propel the growth of the auto dealership CRM software market going forward. The automotive industry refers to a sector comprising a wide range of companies and organizations involved in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. The auto dealership CRM software is used in the automotive sector to provide a more personalized and efficient customer experience, leading to increased satisfaction and loyalty. For instance, in June 2023, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, sales of passenger cars in the UK increased by 25.8% from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the growing automotive industry is driving the growth of the auto dealership CRM software market.

Competitive Landscape -
Major companies operating in the auto dealership crm software market report are Salesforce Inc., Oracle NetSuite ERP, Reynolds and Reynolds, Selly Automotive, CDK Global, DealerSocket, Zoho CRM, Dealertrack, ELEAD1ONE, Freshsales, Dominion Dealer Solutions, Freshdesk, PBS Systems, VinSolutions, Creatio CRM, Izmocars, Elead CRM, ProMax, MAM Software, Xtime, LivePerson Automotive, DealersLink, Datacar CRM, Quorum DMS, myKaarma, AutoLoop, AutoRaptor, Vital Software, AutoMate DMS, Fortellis Automotive Exchange

Integration Of AI-Generated Responses To Revolutionize Customer Interactions In The Dealership Software Market
Major companies operating in the auto dealership CRM software market are focused on introducing innovative solutions, such as advanced CRM technology with AI-generated responses, to gain a competitive edge in the market. An advanced CRM (Customer Relationship Management) technology with AI-generated responses combines traditional CRM functionalities with artificial intelligence (AI) capabilities to automate tasks, personalize interactions, and improve customer engagement. For instance, in May 2023, Space Auto, a US-based provider of CRM software for automotive dealerships, launched the first unified CRM system for retail automotive, tracking the whole customer journey from first click to close and using AI-generated responses to create personalized interactions for car shoppers. It is a complete innovation for automotive retail that makes use of GPT-4's lessons. It provides rapid, data-backed recommendations to dealerships based on the full customer discussion and additional data points from the Space Auto CRM, such as inventory, deal activity, digital retailing, and consumer website browsing statistics. With the help of this groundbreaking tool, salespeople can quickly and accurately choose AI-suggested text or email replies, providing customers with the information they need and enabling the dealership to respond to inquiries with speed and impact.

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Key Segments -
The auto dealership crm software market covered in this report is segmented -

1) By Type: Cloud-Based, On-Premises
2) By Functionality: Sales And Lead Management, Customer Service And Support, Marketing Automation, Inventory Management
3) By Application: Small And Medium Enterprises (SMEs), Large Enterprises

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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