Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Automotive E-Retail Market Size is Expected to Grow from USD 53.45 Billion in 2023 to USD 203.31 Billion by 2033, Growing at a CAGR of 14.29% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Automotive E-Retail Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Used Vehicles, Parts And Accessories, And New Vehicles), By Platform (Websites, Mobile Apps), By Payment Mode (Online Payment, Cash on Delivery), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033
The worldwide automotive e-retail market is ascribed to the business where vehicles and related automotive products are bought and sold through online platforms. This sector encompasses activities like purchasing new and used vehicles, auto parts, accessories, and services via e-commerce websites and apps. It leverages digital technologies to provide a seamless, convenient buying experience, often including features like virtual showrooms, price comparisons, and online financing options. The market expansion is growing due to the significant increase in internet usage, mobile accessibility, and a preference for online transactions. Moreover, the raising of upkeep awareness and interest for EVs, spurred by sustainability concerns with government incentives, are resulting in the prominence of e-retail platforms. However, market acquisition faces several obstacles, like fiery comparison among the big firms, high probability of cyberattacks or threats, and raw material price fluctuation.
The parts and accessories segment held a significant share of the global automotive e-retail market in 2023 and is projected to grow at a rapid pace over the forecast period.
On the basis of the product type, the global automotive e-retail market is differentiated into used vehicles, parts and accessories, and new vehicles. Among these, the parts and accessories segment held a significant share of the global automotive e-retail market in 2023 and is projected to grow at a rapid pace over the forecast period. This is because of their exceptional need for replacement across the automotive industry. Further, the rising culture of DIY and growing awareness among the motor enthusiasts or riding experts contributes to the segment expansion.
The mobile apps segment held the greatest share of the global automotive e-retail market in 2023 and is anticipated to grow at a remarkable CAGR over the forecast period.
On the basis of platform, the global automotive e-retail market is categorized into websites and mobile apps. Among these, the mobile apps segment held the greatest share of the global automotive e-retail market in 2023 and is anticipated to grow at a remarkable CAGR over the forecast period. This is because the growing use of smartphones and internet-connected devices contributes to the rapid expansion of mobile apps in the automotive e-retail business. Beyond that, the customer experiences innovative features like augmented reality (AR) for realistic driving tests and instant notifications for sales and discounts, which makes it popular.
The cash on delivery segment held a significant share of the global automotive e-retail market in 2023 and is anticipated to grow at a rapid pace over the forecast period.
On the basis of the payment mode, the global automotive e-retail market is segmented into online payment and cash on delivery. Among these, the cash on delivery segment held a significant share of the global automotive e-retail market in 2023 and is anticipated to grow at a rapid pace over the forecast period. This is due to its offer promising acceptance in the services they provide. Further, COD is still a popular payment method, especially in regions where online financial services and digital currency are still developing.
Asia Pacific is anticipated to hold the largest share of the global automotive e-retail market over the forecast period.
Asia Pacific is predicted to hold the greatest share of the global automotive e-retail market over the forecast period. The regional market is growing due to automotive sector development, notably in China, Japan, and India. Moreover, urbanization, rapid economic growth, and the increasing proportion of internet services drive market expansion, while the rising finical supports the growth of the market. Additionally, governmental efforts that encourage digital markets and create an advantageous setting for making them popular in this Asia Pacific automotive region industry.
Europe is projected to grow at the fastest CAGR growth of the global automotive e-retail market over the forecast period. The market's expansion throughout the region is further accelerated due to the established automotive sector as well as a strong emphasis on digital transformation. Further, government subsidies for green technologies and the growing acceptance of electric vehicles encourage the regional automotive e-retail business.
Company Profiling
Major vendors in the global automotive e-retail market are Carvana, Vroom, AutoTrader, Cars.com, CarMax, TrueCar, Shift Technologies, Beepi, Fair, Cazoo, Auto1 Group, HeyCar, BCA Marketplace, Webuyanycar.com, Cargurus, AutoScout24, Autolist, Tred, CarGurus, CarDekho, and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global automotive e-retail market based on the below-mentioned segments:
Global Automotive E-Retail Market, By Product Type
Global Automotive E-Retail Market, By Platform
Global Automotive E-Retail Market, By Payment Mode
Global Automotive E-Retail Market, By Regional
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