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Auto Collision Estimating Software Market Expansion, Future Growth Rate, Industry Insights, Top Trends And Forecast To 2033
Auto Collision Estimating Software Market
According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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.
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Major Key Players of the Market:
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.
Auto Collision Estimating Software Market 2024 Key Insights:
• The auto collision estimating software market is expected to grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
• Rise In Road Accidents Fuels Growth In The Auto Collision Estimating Software Market
• Advancements In Blueprinting Process Transforming The Collision Repair Software Market
• North America was the largest region in the auto collision estimation software market in 2023
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