Press release
Automotive Industry Growth Accelerates Auto Dealership CRM Software Market Expansion: A Key Factor Shaping the Future of the Auto Dealership CRM Software Market in 2025
Auto Dealership CRM Software Market Size
The expansion of the automotive industry is anticipated to drive the auto dealership CRM software market's growth in the future. The term "automotive industry" encompasses a broad spectrum of corporations and institutions responsible for the conceptualization, production, marketing, sales, repair, and customization of motor vehicles. The auto dealership CRM software plays a critical role in this industry by offering a customized and effective customer experience, thereby enhancing customer satisfaction and loyalty. For example, the Society of Motor Manufacturers and Traders (SMMT), a trade union based in the UK, reported that passenger car sales in the UK surged by 25.8% from 140,958 units in 2022 to 177,266 units in 2023 in June 2023. As such, the burgeoning automotive sector is a significant driving force for the auto dealership CRM software market's surge.
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What is the future CAGR of the auto dealership crm software market, and how will it impact industry expansion?
The market size for auto dealership CRM software has witnessed swift expansion in the last few years. The growth is predicted to go from $6.13 billion in 2024 to $6.79 billion in 2025, showcasing a compound annual growth rate (CAGR) of 10.8%. This escalation during the historical period can be attributed to the increasing complexity in automobile technology, heightened consumer expectations, and the evolution of the insurance sector.
Expectations are high for the auto dealership CRM software market, as it is predicted to experience robust expansion in the coming years. By 2029, it is projected to hit a value of $9.58 billion, growing at a Compound Annual Growth Rate (CAGR) of 9.0%. This predicted growth within the projection period can be credited to the incorporation of artificial intelligence (AI), the emergence of electric and autonomous vehicles, a dedication to environmental sustainability, the international growth of the automotive aftermarket, and a heightened focus on customer experience. Future trends within this period will likely entail the further use of AI and machine learning, increasing reliance on cloud-based solutions, improved mobile solutions, the use of data analytics for enhancing performance, in addition to regulatory compliance and standardization.
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What are the emerging trends shaping the future of the auto dealership crm software market?
Leading corporations in the field of auto dealership CRM software are investing in innovative solutions like advanced CRM technologies featuring AI-generated responses, to establish a dominant presence in the market. This evolved CRM platform merges the capabilities of artificial intelligence with traditional CRM functions to deliver automated tasks, tailor-made interactions, and enhanced client engagement. For example, Space Auto, a US-based auto dealership CRM software provider, unveiled the first-ever combined CRM system for retail automotive in May 2023. This system tracks the entire customer journey, beginning from the initial click to the final close and utilizes AI-generated responses to offer personalized experiences to car buyers. This unique invention leverages the learnings of GPT-4 in the automotive retail industry, granting quick, data-supported suggestions to dealerships based on extensive customer dialogues and extra data points collected through the Space Auto CRM, including inventory details, deal activities, digital retail engagement, and user website browsing data. This innovative instrument empowers sales representatives to swiftly and precisely select AI-proposed text or email responses, equipping customers with pertinent details and allowing the dealership to answer inquiries promptly and effectively.
Which key market segments comprise the auto dealership crm software market and drive its revenue growth?
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
Subsegments:
1) By Cloud-Based: Subscription Services, Tiered Pricing Plans
2) By On-Premises: One-Time Purchase Licenses, Annual Maintenance Contracts
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What regions are at the forefront of auto dealership crm software market expansion?
Asia-Pacific was the largest region in the auto dealership CRM software market in 2024. The regions covered in the auto dealership CRM software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the auto dealership crm software market?
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
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What Is Covered In The Auto Dealership CRM Software Global Market Report?
• Market Size Forecast: Examine the auto dealership crm software market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the auto dealership crm software market for a structured understanding.
• Key Players Overview: Analyze major players in the auto dealership crm software market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the auto dealership crm software market.
• Segment Contributions: Evaluate how different segments drive overall growth in the auto dealership crm software market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the auto dealership crm software market.
• Industry Challenges: Identify potential risks and obstacles affecting the auto dealership crm software market.
• Competitive Landscape: Review strategic developments in the auto dealership crm software market, including expansions, agreements, and new product launches.
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