Global Automotive E-Commerce Market accounted for US$ 42.76 billion in 2020 and is estimated to be US$ 256.42 billion by 2030 and is anticipated to register a CAGR of 19.8%. The worldwide industry's expansion, rising automotive sales, and the digitalization of interfaces and channels all drive market growth. Furthermore, rising customer income and increased internet usage has resulted in an increase in online sales of vehicle parts and gears, thereby supporting market expansion during the period under consideration.
The report " Global Automotive E-Commerce Market By Type (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, and Electrical Product), By Application (B2B, and B2C), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- Alibaba Group Holding Ltd said in April 2020 that it will invest USD 28 billion in cloud infrastructure over the next three years. As the pandemic reached its apex in China, this strategy is thought to have seen an increase in demand for business software.
Analyst View:
Low operating costs are a significant driving force for product development in the automotive e-commerce market. Consumer awareness of online maintenance tutorials is increasing, which is positively impacting market growth. Furthermore, the quick availability of replacement parts, combined with simple procedures such as changing oil, tyres, and mirrors with little tools, is driving the DIY sales outlet sector. Furthermore, the industry's demand will be fueled by the ease with which customers may browse the products, as well as the discounts and cost reductions offered in comparison to traditional ways.
To know the upcoming trends and insights prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Automotive-ECommerce-Market-By-3302
Key Market Insights from the report:
Global Automotive E-Commerce Market accounted for US$ 42.76 billion in 2020 and is estimated to be US$ 256.42 billion by 2030 and is anticipated to register a CAGR of 19.8%. The global automotive e-commerce market report segments the market on the basis of type, application, and region.
- Based on Type, Global Automotive E-Commerce Market is segmented into Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, and Electrical Product.
- Based on Application, Global Automotive E-Commerce Market is segmented into B2B, and B2C.
- By Region, the Global Automotive E-Commerce Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive E-Commerce Market:
The key players operating in the automotive e-commerce market are Amazon, eBay, Taobao, Tmall, Alibaba Group, Wal-Mart, JD, Snapdeal and Denso Corporation
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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