Global Auto Body Estimating Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Auto Body Estimating Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Auto body estimating software is developed to help auto mechanics and managers in workshops estimate the repair work required after a car crash. The software is used to draw up a detailed and precise estimate professionally in the shortest time. Automotive workshops need such software to manage their workflow. These programs offer a range of digital tools and features, e.g. maintenance management, inventory control, invoicing and billing, reporting, etc.

Market Overview:

The latest research study on the global Auto Body Estimating Software market finds that the global Auto Body Estimating Software market reached a value of USD 1035.41 million in 2022. It’s expected that the market will achieve USD 2122.47 million by 2028, exhibiting a CAGR of 12.71% during the forecast period.

Influence of COVID-19 Outbreak on Auto Body Estimating Software Industry Development

In 2020, the global COVID-19 pandemic attacked enterprises all over the world, bringing major economies to a standstill. The automotive industry is no exception, and the automobile sales of all automobile manufacturers in North America have declined across the board. Many people have lost their businesses and jobs, and this uncertainty about the future of the economy prevents consumers from spending money unnecessarily on cars. People keep a main vehicle that works normally, and it becomes unimportant to upgrade or buy a secondary vehicle. These factors have had a negative impact on the Auto Body Estimating Software industry.

Although car sales generally declined in the summer of 2020, car sales among 18-35-year-olds increased due to the fear of catching viruses in public transportation or carpooling. In addition, due to the limited activities in COVID-19 pandemic period, young people are more interested in hiking and beach activities. These are unrestricted open-air and safe activities. Although most city residents used to rent a car out of town for this purpose, they are now interested in buying a car as a long-term solution and avoiding the used car rental. These factors will promote the recovery of people's demand for automobiles, thus driving the development of Auto Body Estimating Software industry.

Strength

Technology has changed the way of doing business forever. The field of automobile maintenance is no exception. The use of spreadsheets and journals is a thing of the past. Most modern shop use special software to manage the operation of their shop. There are many advantages to use Auto Body Estimating Software. It can help technicians and staff to track all vehicles and check all records every day without being bothered by a lot of paperwork. This software helps to easily maintain records, automate daily tasks, continuously track customers, inventory, reports, vehicle history, and establish contact with important major parts dealers, databases and various diagnoses. Auto Body Estimating Software can help shops to make budgets for body repairs, and help shops save money in the long run with affordable budgets. Shop can generate estimates for multiple cars, saving time and effort when managing multiple repair shops at once, and gaining more benefits. In addition, customers can easily book a schedule at a suitable time and date, and let the shop know which repairs and services they need in particular. These advantages are the main factors driving the demand growth of Auto Body Estimating Software.

The auto body industry has been struggling with COVID, supply chain shortage, labor shortage and intensified competition, forcing most enterprises to carefully examine their profit margins. Labor cost usually accounts for the most important expense related to running an auto repair shop. The cost of labor is about 36% to 44% of the price of maintenance work. Such jobs can generate a gross profit margin of 50% to 65% per job. The main factor driving the profit rate of labor force is the accuracy of the estimation of repairing vehicles. Suppose the work is more complicated than originally estimated. In this case, the insurance company may force the store to bear the cost or try to get the difference from the customer in order to realize the profit required for the repair work. The technological change of vehicles and the reduction of labor resources have increased management expenses and pushed up labor costs. Auto body estimating software is a great instrument to predict Labor Rates, as well as individual hours worked by employees, to control cost and workload. The growing demand of large and medium-sized enterprises will power the Auto Body Estimating Software industry.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

CCC ONE is one of the major players operating in the Auto Body Estimating Software market, holding a share of 20.28% in 2022.

CCC is transforming the trillion-dollar automotive and insurance industries through the power and scale of connected data platform. Cloud-based SaaS solutions leverage the latest in AI, IoT, telematics, customer experience, mobile and digital workflow technologies to create deep, actionable insights that help clients drive business and change lives. CCC has continued to innovate throughout its 40-year history, building scale through its extensive client partnerships while delivering industry leading first-to-market solutions.

Solera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business – vehicle claims, vehicle repairs, vehicle solutions, and fleet solutions – Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a “one-stop-shop” solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 300,000 global customers and partners in 100+ countries.

Segmentation Overview:

Among different product types, On-premises segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Small and Medium Enterprises (SMEs) segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Auto Body Estimating Software market covered in Chapter 3:

Mitchell 1
R.O. Writer
GT Motive
Solera Inc.
Mitchell
Web-Est
Alldata
CCC ONE

In Chapter 4 and Chapter 14.2, on the basis of types, the Auto Body Estimating Software market from 2018 to 2029 is primarily split into:

Cloud-based
On-premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Auto Body Estimating Software market from 2018 to 2029 covers:

Small and Medium Enterprises (SMEs)
Large Enterprises

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)