Automotive E-Commerce Market To Hit $24 Million By 2023: Global Industry Size, Share, Growth Trends

Automotive E-Commerce Market Size, Share, Trends Analysis Research Report 2018 of 111 pages added by MarketResearchFuture explores comprehensive information on Global Automotive E-Commerce Market Information by Product (Braking, Steering & Suspension, Universal Joints, Gaskets, Wipers, Filters, Lighting & Spark Plugs, Wheels and Tires) and Region Forecast To 2023.

Market Overview of Automotive E-Commerce Market:

The global automotive e-commerce market is a very dynamic market and is expected to witness high growth over the forecast period. The global automotive e-commerce market is majorly driven by the growth of the e-commerce industry. The increase in the growth of e-commerce also indicates the rise in the acceptance of online shopping among people, which will drive the global automotive e-retail market.

The automotive e-commerce market is driven by factors such as aging vehicle fleet, digitization of channels and interfaces, growth of global e-commerce industry, higher price transparency and greater diversity of parts. However, identification of the damaged parts, and installation of the online purchased parts are expected to hinder the market growth. Desktop PCs is the most popular device for placing online shopping orders but the use of mobile devices, especially smartphones, is also increasing, thus driving the growth of automotive e-commerce.

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Key Companies Studied In this report are:

Amazon.com.

Taobao.

Tmall.com.

Alibaba Group Holding Limited.

Wal-Mart Stores.

Snapdeal.

JD.com.

Denso Corporation.

American Tire Distributors Holdings.

The automotive e-commerce market is undergoing various changes with evolving customer expectations, acceleration of technological innovation, and shifts in competitive power. New technologies and major shifts in the aftermarket industry will be crucial factors for the players in order to maintain strong positions in the years to come. The global automotive e-commerce market has been segmented, based on products, of which the braking segment accounted for the largest market share of 28.9% in 2016. This segment is projected to grow at 7.55% CAGR during the forecast period. Filters segment stand at the second place, and are expected to grow further in the forecast period.

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North America leads the global e-commerce automotive aftermarket. Many brick and mortar stores in the region leverage third party e-commerce platform to sell their products along with their own e-commerce portal. The auto parts sector is expected to see significant growth as automakers continue to expand in the U.S. and Mexico. Moreover, Europe is one of the major markets for automotive e-commerce, propelled by the growth in e-commerce. The adoption of e-commerce ensures a greater degree of flexibility and customization spending by purchasers of the automotive components. The growing inclination of consumers toward cross border online shopping, highlights an increasing realization that buying from another country can provide lower prices and a wider range of products or brands.

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