Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Automotive E-tailing Market Research Report.
E-tailing is the fastest growing sales channel of the automotive industry and is expanding briskly. Market Research Future (MRFR) predicts the automotive e-tailing market to reach USD 55.22 Billion by the end of 2022, growing at a CAGR of 12%. A growing number of businesses today are deploying e-commerce as a tool to boost sales and revenue, and the automotive industry is one of them. Automotive e-tailing refers to the sale of automotive goods and components through electronic media. The automotive e-tailing market is growing primarily due to increasing e-commerce platform and collaboration between e-commerce providers and companies. Ease of online shopping and payment, availability of a wide array of automotive products such as infotainment systems, engine parts, tires-wheel, interior accessories, and electrical components supports the growth of the automotive e-tailing market. The rapid expansion of the automotive industry in emerging economies also aids the growth of the automotive e-tailing market. Feature comparison, availability of goods at a discounted price and customer reviews also boost the growth of the market. Additionally, rising initiatives in many developing countries for digitization has also supported the growth of the automotive e-tailing market. Moreover, automotive e-tailing provides buyers with the assurance of the authenticity of the products being purchased. E-tailing in the automotive industry is increasing rapidly as it solves the problems of automotive parts suppliers, manufacturers, and retailers such as complex order processing, errors on conditions, payment and shipping, etc. Other drivers include growing internet penetration, increase in consumer base of vehicles, increased preference of consumers for e-commerce platforms, and increasing investment of companies on e-commerce platforms. Despite the growing popularity of automotive e-tailing, the majority of consumers prefer brick and mortar stores over online platforms which are restricting the growth of the market. Other factors which might hinder the market growth include online payment frauds, delay in product possession and slow adoption of e-commerce for automotive parts due to inhibitions regarding product quality.
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The global automotive e-tailing market has been segmented based on vendor type, component, and vehicles. By vendor type, the market has been segmented into OEM Vendor and Third Party Vendor. By component, the market has been segmented Electrical & Electronics, Chassis, and Powertrain. By vehicles, the market has been segmented into commercial cars and non-commercial vehicles.
The key markets of the global automotive e-tailing market are North America, South America, Europe, Asia-Pacific and the Middle East & Africa. The Asia-Pacific market accounts for the largest share of the market owing to rising internet penetration and proliferation of smartphones in the region. China and India re the key contributors in the region due to high vehicle population. North America market is also consolidated due to a high inclination towards e-tailing in the region.
The key players operating in the market include Advance Auto Parts, Inc. (U.S), eBay Inc. (U.S), Genuine Parts Company (U.S), O'Reilly Auto Parts (U.S), JEGS High Performance (U.S), Delticom AG (Germany), Rock Auto LLC. (U.S), CARiD.com (U.S), AutoZone, Inc. (U.S), K&N Engineering, Inc. (U.S) and others.
- In April 2018, Hero MotoCorp, an automotive company launched an e-commerce portal to sell authentic hero parts and accessories for two-wheelers. The company has partnered with Delhivery, an Indian logistics company for delivering parts to its customers across India.
- In June 2018, eBay Canada announced the availability of a new automotive parts compatibility feature called Fitment. The feature will make it easier for buyers to search for parts and accessories.
- In June 2018, Xevo and TomTom announced a partnership to combine Xevo market platform with TomTom's map and navigation expertise. The partnership would offer an opportunity to extend in-vehicle personalization and make navigation experience better and smarter.
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