Automotive E Commerce Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive E Commerce Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive E Commerce Market

The automotive e commerce market size was valued at USD 86.55 billion in 2023, and the market is now projected to grow from USD 100.14 billion in 2024 to USD 343.13 billion by 2032, exhibiting a CAGR of 16.6% during the forecast period of 2024-2032.

Pandemic had a big effect on the business. Lockdowns and social distancing measures led to increase in online buying. Pandemic fueled the rise of the car e-exchange business employer, as lockdowns and social distancing measures endorsed online shopping for. The shift in client conduct has expedited the adoption of online purchasing within the car area, leading to improvement inside the e-trade market.

The industry is experiencing big marketplace growth because of the growing preference for on-line looking for vehicle components and components. Vendors like Tesla, Carvana, Vroom, and Walmart are filling the distance left by using conventional stores by way of providing offerings like automobile provider appointments, used car purchases, and change-ins. The availability of a wide variety of vehicles, lower costs, 24/7 get admission to, and fee transparency also are driving growth. Third-celebration e-commerce agencies like Amazon.Com, O'Reilly Auto Parts, and Alibaba Group Holdings Limited are anticipated to expose the quickest automotive e commerce market growth.

Automotive e-change creates new sales possibilities for OEMs, dealers, and virtual automobile companies. Online purchasing for automobile components and additives through 3rd party providers such as Amazon.Com, Inc., O'Reilly Auto Parts, and Alibaba Group Holding Limited is projected to have the fastest boom within the quarter during the projection duration.

Comprehensive Analysis of Automotive E Commerce Market

The global automotive market is segmented into infotainment & multimedia, engine components, tires & wheels, interior accessories, and electrical products. The engine components segment dominates due to the increasing aging of vehicles. The third-party vendor type dominates due to their quick delivery, exceptional service networks, and discount programs. The passenger car segment is the largest, driven by growing sales and improved customer experience through optimized search engines. E-retailers use advanced search engines to help customers select and compare vehicles, driving segment growth.

The North America region lead the automotive e commerce market share by benefitting a market size of USD 29.29 billion in 2023 due to the region is seeing increased demand for hassle-free purchases, well-developed infrastructure, internet shopping, and premium and luxury automobile sales.

The market is highly competitive and fragmented, with key players including O'Reilly Auto Parts (U.S.), Amazon (U.S.), Alibaba Group Holding Limited (China), AutoZone,Jnc (U.S.), Advance Auto Parts (U.S.), Deltacom AG (Germany), eBay Inc. (U.S.), Walmart (U.S.), Bosch Auto Parts (Germany), and Flipkart (India). Major corporations aim to increase their position in the sector through acquisition, growth, and partnership initiatives.

In January 2024, FordDirect, a joint venture between Ford dealers, Lincoln retailers, and Ford Motor Company, launched 'The Shop', an e-commerce platform to help dealers navigate the changing retail automotive market. The Shop, powered by FordDirect, provides dealers with a consolidated platform of vetted vendors and prenegotiated rates for important items and services.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 16.6% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Component Type

Infotainment & Multimedia

Engine Components

Tires & Wheels

Interior Accessories

Electrical Products

By Vendor Type

OEM Vendor

Third-party Vendor

By Vehicle Type

Passenger Car

Commercial Vehicle

Two-Wheeler

By Geography

North America (By Vehicle Type, Vendor Type, and Component Type)

- U.S. (By Vehicle Type )

- Canada (By Vehicle Type )

- Mexico (By Vehicle Type )

Europe (By Vehicle Type, Vendor Type, and Component Type)

- U.K. (By Vehicle Type)

- Germany (By Vehicle Type)

- France (By Vehicle Type)

- Rest of Europe (By Vehicle Type)

Asia Pacific (By Vehicle Type, Vendor Type, and Component Type)

- China (By Vehicle Type)

- India (By Vehicle Type)

- Japan (By Vehicle Type)

- South Korea (By Vehicle Type)

- Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By Vehicle Type, Vendor Type, and Component Type)


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