Paprika Oleoresin Market Forecasts to 2028 – Global Analysis By Product (Turmeric, Onion, Garlic, Ginger, Black Pepper, Capsicum, Paprika, Other Products), Distribution Channel (Online Retail, B2B, Hypermarket / Supermarket, B2C, Other Distribution Channe

Paprika Oleoresin Market Forecasts to 2028 – Global Analysis By Product (Turmeric, Onion, Garlic, Ginger, Black Pepper, Capsicum, Paprika, Other Products), Distribution Channel (Online Retail, B2B, Hypermarket / Supermarket, B2C, Other Distribution Channels) and others

According to Stratistics MRC, the Global Automotive E-Commerce Market is accounted for $75.28 billion in 2022 and is expected to reach $203.42 billion by 2028 growing at a CAGR of 18.02% during the forecast period. Automotive e-commerce, also referred to as automotive electronic commerce, refers to the online buying and selling of automobiles and auto parts. This is possible with mobile tablets, PCs, and phones. Additionally, there is no requirement to classify the process of selling cars online. Sales that are conducted both offline and online are common.

According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2020, production declined by 16% globally to less than 78 million vehicles, equivalent to sales levels in 2010.

Market Dynamics:

Driver:

Advancement of multiple payment modes

The development of e-commerce platforms has been aided by innovative payment technology solutions. The future-proofing of e-commerce merchants' enterprises can be achieved by investing in this technology. Modern payment methods not only make it simple for customers to shop online, but they also make it simple for retailers to support e-commerce. Due to the global upsurge in e-payments, retailers are in need of partnerships and technology to handle credit card payments as well as payments via digital wallets for purchase now, pay later transactions. Both the retailer and the client can gain greatly from payment technology.

Restraint:

Increasing share of counterfeiting

The growth of the market is anticipated to be constrained by the rising availability of counterfeit auto parts and components. Genuine/original vehicle parts are replicated by a number of manufacturers and sold for less money. The market for fake goods typically focuses on industries that are simple to imitate and have a high rate of turnover, including tie rods, steering arms, windshields, taillamps, headlamps, bumpers, and filters. Due to an increase in auto component manufacturers, the need for counterfeit auto parts is rising globally. These parts are of poor quality and frequently malfunction. It creates a bad reputation, which has an impact on automotive e-commerce sales.

Opportunity:

Increasing consumer comfort with online purchasing

Customers are used to the efficiency and convenience of internet buying. When making purchases online, they have higher faith in their capacity to negotiate a reasonable price and return the item. Consumer satisfaction with automobile purchases has improved with digitization, reaching an all-time high of 72% in 2020, up from 60% in 2019, according to a recent poll of consumers in the U.S. by Cox Automotive. 80% of consumers today say they want to buy a vehicle online, at least in part. Compared to the last time they bought a car, 64% of consumers want to make more purchases online this time. 25% of consumers predicted they would make all of their purchases online in 2021.

Threat:

Online frauds and cyber security issues

As more people purchase for both necessary and non-necessary items online from the comfort of their homes, fraudsters have developed more sophisticated strategies to target customers, banks, and retailers. According to a recent Forter report, fraud attacks throughout the online retail environment surged by 19 percent globally between 2018 and 2019. These attacks range from return fraud and shipping fraud to account takeovers, identity theft, and other developing dangers. Increased phishing assaults have already been reported by banks and retailers. More than ever, e-commerce merchants must be aware of current fraud trends and consult with their partners and service providers to develop measures to reduce and avoid losses.

Covid-19 Impact

The COVID-19 outbreak caused a significant drop in the supply of key raw materials for automotive components. Numerous small and large participants in the automobile industry are dealing with problems such production halts, limited part supplies, government-mandated plant closures, inefficient output during lockdowns, reduced workforce, declining liquidity, and others. To build momentum in the market, players began concentrating on reducing such risks and advances as regulations were eased. However, there is a significant demand for online shopping in many markets, which forces logistics and manufacturing companies to expand their expenditures in automation, particularly supply chain automation, which in turn drives the market's expansion.

The passenger car segment is expected to be the largest during the forecast period

The passenger car segment is estimated to have a lucrative growth, due to increase in demand for comfort and convenience accessories for passenger cars. To enhance the shopping experience for customers, e-retailers use innovative and optimized search engines. By adding filters to a variety of criteria, including vehicle specifications, pricing, vehicle trim, vehicle make, vehicle amenities, and exterior color, end users can choose passenger automobiles using these search engines. Most sellers also give customers the option to compare different passenger automobiles, which aids in the purchasing process.

The engine components segment is expected to have the highest CAGR during the forecast period

The engine components segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the ongoing increase in vehicle and fleet ageing. Pistons and rings, bearings, engine blocks and cylinder heads, valves and filters are the vehicle parts that fall under the category of engine components. Furthermore, the industry is growing since tyres and wheels need to be replaced frequently because they wear out quickly.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the growing preference of regional consumers for online shopping, the availability of well-developed infrastructure, the expanding demand for premium and luxury cars, and the rising need for hassle-free purchasing.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the rise of e-commerce and major auto e-commerce players like Alibaba Group, Amazon.com, eBay Inc., and Flipkart Internet Private Limited are present. The market is also expected to grow as a result of partnerships between brick-and-mortar retailers and e-commerce platform providers and government programmes like Digital India.

Key players in the market

Some of the key players profiled in the Automotive E-Commerce Market include Advance Auto Parts, Alibaba Group Holding Limited, Amazon, Arch Auto Parts, AutoZone, Inc., Bosch Auto Parts, Delticom AG, eBay Inc., Flipkart, JC Whitney, Napa Auto Parts, O’Reilly Auto Parts, Walmart

Key Developments:

In July 2021, MasterBeat Corporation announced that its JTEC Autoworld launched the Amazon retail segment of its online automotive parts platform. JTEC is planning to utilize Amazon and other e-commerce platforms to accelerate its marketing & sales.

In January 2022, Amazon and automaker Stellantis announced a strategic partnership to develop cars and trucks with Amazon software in the dashboards and deploy nd made by Stellantis on Amazon's delivery network.

In October 2020, BMW signed an MoU with Alibaba. According to the MoU, Alibaba and BMW will jointly launch the first online sales and services businesses engaging dealers among premium auto brands to create a smooth end-to-end online-to-offline digital experience.

Vehicle Types Covered:
• Commercial Vehicle
• Passenger Car
• Two Wheeler

Vendors Covered:
• Third Party Vendors
• Original Equipment Manufacturer (OEM)

Components Covered:
• Electrical Products
• Engine Component
• Exterior Accessories
• Informational and Multimedia
• Interior Accessories
• Tires and Wheels

Operations Covered:
• Warehouse
• Transportation

Applications Covered:
• Business to Business (B2B)
• Business to Consumer (B2C)

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements