The automobile sector has indeed been heavily benefitted from the advent of e-commerce automotive aftermarket. Subject to the installation of e-commerce facilities such as supply chain integration models, OEMs can gather information very efficiently and generate a smooth flow between internal divisions, suppliers, distributors, and customers, and emerge to a viable growth ground for e-commerce automotive aftermarket industry. Currently, most of the automotive manufacturers have installed CRM and ERP systems for improving the company’s profile and performance parameters. Easy accessibility for aftermarket products like braking accessories, spark plug, universal joints, filters, gaskets, lightening system, and wipers with the help of e-commerce software solution will indeed have a remarkable impact on ecommerce automotive aftermarket outlook.
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In the future, the increasing adoption of emerging technologies such as IoT and artificial intelligence is likely to stimulate e-commerce automotive aftermarket trends. The Germany based automaker, BMW, for example, recently launched its e-commerce pilot project to check the popularity of the brand outside Germany. Considering the fact that many automakers are now officially penetrating the aftermarket business, the intensity of competitive in e-commerce automotive aftermarket is slated to increase tremendously in the years ahead.
North America e-commerce automotive aftermarket is likely to grow significantly, exhibiting around 17% CAGR over the forecast timespan. Well established internet infrastructure along with presence of leading e-commerce participants including Amazon across the region will primarily contribute towards high growth.
E-commerce techniques such as paperless transactions and online auctions have helped minimize product cost and enhanced efficiency. In addition, these techniques have proved to be effective in building relationships with suppliers and buyers, further leading to a rise in cost savings, technological advancements, and manufacturing high quality products. On these grounds, many giants in e-commerce automotive aftermarket and leading automakers are strongly focusing on adopting e-commerce tools like cloud computing and social networking for information exchange.
Third-party retailers will capture maximum revenue share in e-commerce automotive aftermarket crossing USD 29 billion by 2025. Increasing popularity of retailers such as Amazon, eBay, etc. will drive the industry growth. The revenue generation can also be credited to the provision of distinct services. Moreover, advantages such as same day delivery will further contribute to the industry dominance over the forecast timeframe.
Asia Pacific will capture significant revenue share surpassing USD 9 billion till 2025 owing to substantial automobile sales along with strengthening internet penetration across the region.
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It has been observed that numerous other automakers such as GM, Daimler-Chrysler, and Ford have also launched facilities for the online exchange of products, establishing their position in e-commerce automotive aftermarket industry. Online auctioning portals have turned out to be quite beneficial for these companies to compete for customers depending on their requirements such as delivery time, quality, and price, expanding the scope of the B2C business model.
E-commerce automotive aftermarket from direct to customer will witness growth at around 21% from 2018 to 2025 owing to provision of appropriate service facilities and high brand loyalty of customers. For instance, Bosch has expanded its product portfolio on its own online platform for strengthening their presence in the industry.
B2C will dominate the e-commerce automotive aftermarket, surpassing USD 13 billion by 2025. Shifting consumer preference towards purchasing of auto-components online will drive the industry growth. This shifting preference can be attributed to provision of benefits such as advanced products and rapid query solving. Moreover, cost effectiveness of these online portals as compared to conventional brick-and-mortar stores is another factor that will positively impact the industry growth.
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Denso Corporation, Napa Auto Parts, Hella Group, eBay, Amazon, Advance Auto Parts, and Auto Zone are among the notable players in the e-commerce automotive aftermarket. Collaborations and partnerships with online aftermarket participants are the strategies implemented by the competitors to strengthen their foothold. For instance, in 2016, Hella group announced its collaboration with iParts.pl, an online supplier of auto parts for expanding its product line.