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Auto Collision Estimating Software Market Analysis: $3.85 Billion by 2029 With a CAGR of 10.2%
Auto Collision Estimating Software
Auto Collision Estimating Software Market Value Projection: How Much Will the Market Size by 2025?
In recent times, the market for auto collision estimating software has witnessed brisk expansion. The market's worth, standing at $2.33 billion in 2024, is projected to increase to $2.61 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.9%. The upswing during the historical phase is largely a result of escalating collision rates, tighter regulatory adherence, advancing complexity in auto technology, heightened customer anticipations, and developmental shifts in the insurance industry.
What Will Be the Market Growth Forecat for Auto Collision Estimating Software in 2029?
In the forthcoming years, the auto collision estimating software market is poised for swift expansion. The market is projected to reach $3.85 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.2%. The acceleration during the forecast period is due to factors such as artificial intelligence (AI) integration, the emergence of electric and autonomous vehicles, emphasis on eco-friendliness, global auto aftermarket expansion, and an improved focus on customer experience. The forecast period is also expected to see a surge in trends like AI and machine learning integration, cloud-based solutions, improved mobile solutions, data analysis for performance improvement, and adherence to regulations and standards.
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What Are the Core Competitive Drivers in the Auto Collision Estimating Software Industry?
The escalating rate of road accidents is projected to stimulate the expansion of the auto collision estimating software market in the future. Road accidents, also known as traffic incidents, constitute occurrences that involve vehicles, pedestrians, cyclists and other commuters on public highways or roads, causing destruction, harm, or fatalities. Auto collision estimating software plays a vital role post such accidents, enhancing repair processes, claims, and overall efficiency by examining photographs, vehicle data and damage specifics to deliver repair estimates quickly and accurately. For example, data released by the Government Digital Service, a UK-based government agency in May 2023, showed an 8.7% rise in fatalities on UK roads, increasing from 1,558 in 2021 to 1,695 in 2022. Thus, the growing number of road accidents is contributing to the growth of the auto collision estimating software market.
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Which Auto Collision Estimating Software Market Segment Is Projected to See the Fastest Growth?
The auto collision estimating software market covered in this report is segmented -
1) By Type: Cloud-based Auto Collision Estimating Software, On-premise Auto Collision Estimating Software
2) By Deployment Model: SaaS (Software as a Service), Traditional Software
3) By Application: Small and Medium Enterprises (SMEs), Large Enterprises
4) By End-users: Independent Auto Repair Shops, Dealerships, Fleet Management Companies, Insurance Companies
Subsegments:
1) By Cloud-based Auto Collision Estimating Software: Subscription-Based Services, Pay-Per-Use Services
2) By On-Premise Auto Collision Estimating Software: One-Time Purchase Licenses, Annual Maintenance Contracts
Which Trends Are Opening New Opportunities in the Auto Collision Estimating Software Market?
Prominent firms in the auto collision estimating software market are focusing on innovating new offerings such as repair package solutions to strengthen their market foothold. These advancements provide a uniform language and an effective structure that encourages smooth data transfer between auto collision estimating systems, insurance companies, and other crucial participants in the repair process. For example, in October 2023, SUNÂ Collision, a US-based firm providing OEM collision and mechanical repair details, introduced an innovative repair package solution that simplifies the complex blueprinting process by automating it. This solution offers thorough documentation to back up estimates and insurance claims, thereby tremendously reducing the workload of service writers/estimators. They can now generate an infallible repair scheme within seconds, removing the necessity for manual data entry.
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Who Are the Leaders in the Auto Collision Estimating Software Market?
Major companies operating in the auto collision estimating software market report are 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.
Which Regional Auto Collision Estimating Software Markets Offer the Greatest Growth Potential?
North America was the largest region in the auto collision estimation software market in 2024. The regions covered in the auto collision estimating software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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