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Automotive E-Tailing Market Growth to be Driven by Emerging Trends | $101.48 Billion by 2029
Automotive E-Tailing
What is the Projected Market Size of the Automotive E-Tailing Industry?
The size of the automotive e-tailing market has seen a significant increase in the past few years. It is projected that the market will expand from a value of $56.79 billion in 2024 to a whopping $63.79 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.3%. The observed growth during the historical period is due to factors such as rising internet usage, the expansion of e-commerce platforms, enhancements in logistics and delivery systems, the spread of safe and user-friendly digital payment options, and a surge in digital payments.
What Will Be the Size of the Automotive E-Tailing Market by 2029?
In the coming years, the size of the automotive e-tailing market is anticipated to experience significant growth, reaching $101.48 billion in 2029 with a compound annual growth rate (CAGR) of 12.3%. This anticipated expansion during the forecast period is largely attributed to factors such as the growing use of mobile commerce, higher adoption levels of EVs, the broadening scope of aftermarket services, heightened awareness and demand for sustainable and eco-friendly automotive products, and increased infiltration of online shopping. Over this forecast period, key trends are expected to include the rise in usage of sophisticated technologies, the expansion of mobile commerce, an increase in demand for EV components and accessories, surging consumer demand for sustainable and eco-friendly automotive parts, and improvements in logistics and supply chain innovations.
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What Are the Key Drivers Accelerating Growth in the Automotive E-Tailing Market?
The surge in internet usage is predicted to fuel the expansion of the automotive e-tailing market in the future. Internet penetration is a measure of the proportion of society that makes use of the internet, promoting improved digital connections and exchanges. Internet usage is on the rise for several reasons, including affordability, digital evolution, social interaction, and economic potential. The internet enables automotive e-tailers to access a worldwide customer base, simplifying price comparisons and educated buying decisions. E-tailers utilize digital promotion strategies to engage customers, enhance communication, and establish brand devotion. To illustrate, data from the International Telecommunication Union (ITU), a Switzerland-based organization specialized in information and communication technologies, indicated that in 2023, approximately 5.4 billion individuals (67% of the global population) accessed the internet, marking a 45% rise in the last two years. Consequently, the escalating penetration of the internet is pushing the automotive e-tailing market's growth.
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How Is the Automotive E-Tailing Market Segmented by Type, Application, and Region?
The automotive e-tailing market covered in this report is segmented -
1) By Component: Electrical Products, Engine Components, Infotainment, Interior Accessories, Tires
2) By Vehicle Type: Two-Wheeler, Passenger Vehicle, Commercial
3) By Product Label: Counterfeit, Branded
4) By Vendor Type: Original Equipment Manufacturers (OEMs), Third Party
Subsegments:
Here is the list following the requested format:
1) By Electrical Products: Batteries, Wiring and Connectors, Lighting Systems, Sensors and Actuators
2) By Engine Components: Engine Parts, Filters, Timing Belts and Chains, Gaskets and Seals
3) By Infotainment: Audio Systems, Navigation Systems, Touchscreen Displays, Connectivity Devices
4) By Interior Accessories: Floor Mats and Liners, Seat Covers and Cushions, Steering Wheel Covers, Car Organizers
5) By Tires: Passenger Tires, Light Truck Tires, Performance Tires, Winter and All-Season Tires
What Are the Key Trends Driving Growth in the Automotive E-Tailing Market?
Leading entities in the automotive e-tailing market are advancing innovative strategies like digital lending platforms to address issues related to online vehicle sales and improve customer experience. Such a platform facilitates car manufacturers, dealers, aggregator platforms, and lenders in providing comprehensive digital retailing to their clients. This makes car financing immediate, paperless and accessible to all clients deemed creditworthy. For example, Kuwy Technology Service Pvt Ltd., an automotive fintech company based in India, rolled out KUWYLaaS, a complete digital lending service, in February 2022. This service incorporates basic and high-level aspects of the car financing process through its API suite. These features include digital application for credit, real-time lending decisions for clients, suitable lender selection, in-built counteroffer technology, and use of Kuwy's proprietary vehicle paper transfer platform. The KUWYLaaS solution, available in both desktop and mobile app versions, can be flawlessly merged with existing systems like websites or in-house loan origination systems, using the API suite.
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Who Are the Leading Companies Driving Growth in the Automotive E-Tailing Market?
Major companies operating in the automotive e-tailing market are Amazon.com Inc., AutoZone Inc., O'Reilly Auto Parts, Advance Auto Parts, eBay Inc., CarParts.com Inc., JEGS High Performance, 1A Auto Parts, Edmunds.com Inc., Carwow Ltd., CARiD.com, Buy Auto Parts, FCP Euro, RockAuto LLC, Rallysport Direct, Spinny, PartsGeek, Autotrader Inc., Autohaus Arizona Inc., JC Whitney, Summit Racing Equipment
Which Is the Leading Region in the Global Automotive E-Tailing Market?
Asia-Pacific was the largest region in the automotive e-tailing market in 2024. The regions covered in the automotive e-tailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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