Enjoy complimentary customisation on priority with our Enterprise License!
The automotive e-commerce market is poised to grow by USD 82.41 billion accelerating at a CAGR of 16.08% between 2022 and 2027. Additionally, the market is fragmented in nature and shows a YOY growth of 15.68%. The report covers diverse dimensions such as the market size of forecast and historic data, influential drivers, analysis of prominent vendors, and evolving trends, presenting a comprehensive outlook on the global market scenario.
The rising penetration of smartphones and the internet is a key factor driving the market growth. The comprehensive report of the automotive e-commerce market offers crucial insights of the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital retail landscape.
The market is Segmented as
1. Vehicle Type- Vehicle Type segment is classified into passenger car, 2-wheeler, and commercial vehicle.
2. Channel- Channel segment is classified into aftermarket and OEM.
Automotive E-Commerce Market size, Request for Free Report Sample
The market is thriving due to the widespread use of smartphones and increased internet access.
This accessibility has enabled more people, particularly in emerging economies, to engage in online shopping for a variety of goods, including cars and automotive components. As internet penetration and mobile phone usage continue to rise rapidly, consumers who were previously limited in accessing physical dealerships now have a broader selection of automotive products and services online.
To reach a broader consumer base, automotive OEMs are focusing on enhancing their online presence through investments in digital marketing and e-commerce platforms. This includes creating mobile-friendly websites and applications, along with providing easy online payment and delivery options. With internet penetration reaching 48.7% in India in 2023, the increasing prevalence of smartphones and internet access is expected to drive the growth of the global automotive e-commerce market in the forecast period.
The presence of multiple payment modes is a primary trend in the automotive e-commerce market.
The development of e-commerce platforms has been aided by innovative payment technology solutions. Automotive e-commerce players can secure their future in the market by investing in such technology. In order to continue the growth of eCommerce, such as car shopping, it is essential to develop advanced payment technologies. Payment methods are making it easy for customers to buy from the Internet, but they have also made it easier for retailers to support e-commerce.
Due to the global increase in the volume of e-payments, retailers of automotive vehicles, parts, and accessories need to establish partnerships and adopt advanced technology to accept credit card payments as well as payments via digital wallets for purchase now, pay later transactions. The use of advanced payment technology will make a significant contribution to both retailers and buyers. It not only improves trade at the merchants' end but also provides a better customer experience by using the most current payment technology. Thus, the expansion of the global automotive e-commerce market is driven by the advantages of improved payment methods, such as quicker checkout, more purchasing options, and significant cashback offers, during the forecast period.
The market share growth by the passenger car segment will be significant during the forecast period. The passenger car segment dominates the global automotive e-commerce market. Due to increasing Internet penetration, original equipment manufacturers in the automotive industry and retailers have started selling their products like passenger cars online, which will lead to the accelerated growth of the global automotive e-commerce market during the forecast period.
The passenger car segment shows a gradual increase in the market share of USD 18.26 billion in 2017 and continue to grow by 2021. In buying passenger cars through online shopping platforms from a wide selection of brands and models in many countries that range between entry-level and high-end luxury vehicles. Accordingly, the growth of the world market for automotive e-commerce is projected to be driven by a passenger vehicle segment over the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 38% to the growth of the global market during the forecast period.
North America is set to play a crucial role in the global automotive e-commerce market, being a major contributor and a leading region for new technology adoption in the automotive sector. It holds the title of the world's largest automotive market by revenue, with a strong presence in passenger cars and commercial vehicles, as well as a robust foothold in the automotive e-commerce market.
The region is characterized by a significant number of do-it-yourself (DIY) customers, particularly interested in purchasing automotive components and accessories online. North American customers possess extensive knowledge of vehicle parts, leading to a high adoption rate of aftermarket parts and accessories. The presence of organized automotive aftermarket shops has prompted vendors to explore online retailing through forward integration.
Advance Auto Parts Inc. - The company offers various automotive e-commerce such as auto parts, brakes, and other accessories.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
The widespread availability of counterfeit automotive parts is a major challenge in the automotive e-commerce market.
Various companies offer low-cost copies of authentic/original automotive components and accessories. The global market for counterfeit automotive parts is growing due to an increase in the number of automotive component manufacturers. However, these components are of poor quality and frequently tend to fail. This creates a poor image for genuine vendors operating in the global automotive e-commerce market, which, in turn, has an adverse impact on their e-commerce sales.
In order to purchase automotive parts and accessories through eShopping Platforms, people must rely on electronic images. When it is delivered, the product cannot correspond to an electronic representation or a description provided on Internet channels and may not be in line with buyers' needs. Consequently, one of the major challenges that will be faced to grow the worldwide market for car retailing in the coming years is the widespread availability of fake parts on online platforms.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis BUY FULL REPORT.
Automotive E-Commerce Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.08% |
Market growth 2023-2027 |
USD 82.41 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.68 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advance Auto Parts Inc., Alibaba Group Holding Ltd., Amazon.com Inc., Arch Auto Parts, AutoAnything Inc., AutoZone Inc., CARiD.com, CarParts.com Inc., CATI S.p.A., Delticom AG, eBay Inc., Genuine Parts Co., Icahn Automotive Group LLC, LKQ Corp., O Reilly Automotive Inc., Robert Bosch GmbH, RockAuto LLC, The Reinalt Thomas Corp., Walmart Inc., and Flipkart Internet Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.