Press release
Soaring Demand Set to Propel Auto Dealership CRM Software Market to $9.44 Billion by 2029
Auto Dealership CRM Software
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How Large Will the Auto Dealership CRM Software Market Size By 2025?_x000D_
Over the past few years, the auto dealership CRM software market has seen significant growth. It is anticipated that the market will expand from $6.13 billion in 2024 to $6.74 billion in 2025, representing a compound annual growth rate (CAGR) of 9.9%. The growth experienced in the previous years can be linked to the escalating complexity in vehicle technology, increased consumer expectations, and the evolution of the insurance industry._x000D_
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How Big Is the Auto Dealership CRM Software Market Size Expected to Grow by 2029?_x000D_
The market size for auto dealership CRM software is projected to experience a substantial increase in the coming years. It is predicted to reach a worth of $9.44 billion by 2029, with a compound annual growth rate (CAGR) of 8.8%. The upswing during the forecast period can be credited to the adoption of artificial intelligence (AI), growing prevalence of electric and autonomous vehicles, a focus on eco-friendly practices, worldwide extension of the automotive aftermarket, and a greater emphasis on client experience. Notable trends for the forecast duration encompass the incorporation of AI and machine learning, the usage of cloud-based solutions, improved mobile solutions, data analytics aimed at optimising performance, and adherence to regulatory standards and compliance._x000D_
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https://www.thebusinessresearchcompany.com/report/auto-dealership-crm-software-global-market-report_x000D_
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Which Key Market Drivers Powering Auto Dealership CRM Software Market Expansion and Growth?_x000D_
The expansion of the automotive industry is predicted to fuel the growth of the auto dealership CRM software market in the future. The automotive sector encompasses a broad array of companies and organizations that contribute to the design, development, manufacturing, marketing, sale, repair, and customization of vehicles. Auto dealership CRM software finds use in this sector as a tool to enhance customer experiences, fostering a sense of satisfaction and allegiance. In June 2023, as reported by the UK-based Society of Motor Manufacturers and Traders (SMMT), there was a 25.8% increase in passenger car sales, climbing from 140,958 units in 2022 to 177,266 units in 2023. This upward trend in the automotive industry serves as the catalyst for the growth of the auto dealership CRM software market._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Auto Dealership CRM Software Market?_x000D_
The prime players in the automobile dealership CRM software market are concentrating on launching cutting-edge solutions like superior CRM tech with AI-supported replies, to claim a competitive advantage in the market. Advanced CRM (Customer Relationship Management) tech with AI-supported replies merges AI ability with traditional CRM capabilities for automating tasks, personalizing engagements, and enhancing customer interaction. For instance, in May 2023, Space Auto from the US, a CRM software supplier for car dealerships, unveiled the first-ever cohesive CRM system for automotive retail. This system tracks the complete customer journey from the first click to the final close, utilizing AI-assisted responses to produce customized interactions for potential car buyers. This introduction is a significant breakthrough for the automotive retail sector that leverages GPT-4's instruction. It quickly delivers data-driven suggestions to dealerships based on the comprehensive customer conversation and other information points from the Space Auto CRM, including inventory, deal activity, digital retail, and consumer website browsing data. This revolutionary tool allows sales staff to swiftly and precisely choose the AI-proposed email or text replies, thus supplying clients with the required details and permitting dealerships to respond to inquiries promptly and effectively._x000D_
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What Are the Emerging Segments in the Auto Dealership CRM Software Market?_x000D_
The auto dealership crm softwaremarket covered in this report is segmented - _x000D_
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1) By Type: Cloud-Based, On-Premises_x000D_
2) By Functionality: Sales And Lead Management, Customer Service And Support, Marketing Automation, Inventory Management_x000D_
3) By Application: Small And Medium Enterprises (SMEs), Large Enterprises_x000D_
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Subsegments:_x000D_
1) By Cloud-Based: Subscription Services, Tiered Pricing Plans_x000D_
2) By On-Premises: One-Time Purchase Licenses, Annual Maintenance Contracts_x000D_
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Tailor your insights and customize the full report here:_x000D_
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Who Are the Global Leaders in the Auto Dealership CRM Software Market?_x000D_
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_x000D_
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Which are the Top Profitable Regional Markets for the Auto Dealership CRM Software Industry?_x000D_
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._x000D_
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