08-27-2018 10:41 AM CET |
Press release from: Market Research Future
E-Commerce Market 2018 - Forecast to 2023 is latest research report on E-Commerce Industry published by “’Market Research Future””. Report provides Global E-Commerce Market Size, Share, Growth, Key Players, And Regional Analysis With Forecast To 2023. Report analyzes E-Commerce Market Information by Components (Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, Electrical Product), Consumer (B2B, B2C), Vehicle Type and Region - Forecast to 2023. Automotive E-Commerce Market Size to Expand at a CAGR over 6% between 2018 and 2023.
Get Sample Copy Of “E-Commerce Market Research Report - Forecast to 2023” at: https://www.marketresearchfuture.com/sample_request/4682
E-Commerce Global Market Key Company Analyzed Are: Some of the key players in the global automotive e-commerce market include Amazon.com, Inc. (U.S.), eBay Inc. (U.S.), Taobao (China), Tmall.com (China), and Alibaba Group Holding Limited (China). Wal-Mart Stores, Inc. (U.S.), JD.com, Inc. (China), Snapdeal (India), Denso Corporation (Japan), and American Tire Distributors Holdings, Inc.(U.S.) are among others.
E-Commerce Global Market Highlights:
The global e-commerce market is growing pervasively mainly due to the shifting preference of consumers to online platforms for trade and purchase purposes. E-commerce sector witnesses rising sales, garnering huge popularity. Besides higher price transparency, the convenience of purchasing with a diversified range of product lines is a prime factor driving the popularity of online purchases.
Simultaneously, the proliferation of the internet along with the improving economic conditions are quadrupling the number of online shoppers rapidly. This can provide an impetus to the market growth, escalating it to new levels globally.
Acknowledging the kind of accruals the market is gaining currently, Market Research Future (MRFR) has recently published a study report giving out the complete market insight up to 2023. In its study report, MRFR asserts that the global automotive e-commerce market will garner an exponential value by 2023 registering a CAGR of approx.6% between 2017 and 2023.
The automotive e-commerce market is driven by numerous factors such as the aging vehicle fleet, the growth of the global e-commerce industry, and digitization of channels and interfaces. Key international players such as Amazon and Alibaba are expanding their reach by buying up smaller local platforms, especially in flourishing e-commerce markets, which in turn, is impacting the market growth positively.
The increased influence of digital transformation is also reshaping the global automotive industry. Digitization is bringing upon substantial improvements in the value chain and lessened lead times for workshops and customers. At the same time, automotive aftermarket is perceiving a gradual shift from traditional legacy systems to the digitalized world powered by big data, predictive analytics, mobility, and internet-of-things (IoT). The digitization of data is allowing players operating in the aftermarket to gain further value as connectivity helps them move closer to the end customer.
On the flip side, automotive e-commerce market is confronted with some challenges such as availability of the options of various payment methods, same day delivery policies, and handling the return request of the customers. However, these challenges are negligible in comparison with the benefits that E-Commerce platform offers. Hence MRFR confirms that the global automotive e-commerce market is poised to witness galore accruals in the next five years.
Market by Segmentation:
Global Automotive E-Commerce Market is segmented into flour key dynamics for an easy grasp and enhanced understanding.
By Components: Infotainment & Multimedia, Engine Components, Tires & wheels, Interior Accessories, and Electrical Product among others.
By Consumers: B2B and B2C, others.
By Vehicle Types: Passenger vehicles and Commercial Vehicles, others.
By Regions: North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Market by Region:
The global market is segmented based on geography in the regions of Asia Pacific, North America, Europe, and the Middle East & Africa.
Europe region is expected to dominate the growth of the automotive e-commerce market over the forecast period. Europe is one of the major markets for automotive e-commerce due to the growth in e-commerce. The adoption of e-commerce ensures more flexibility and customization spending by purchasers of the automotive components. The growing inclination of consumers towards cross-border online shopping, highlights an increasing realization that buying from another country, where the cost are low, would involve lower prices and a wider range of products or brands. The internet, as a channel, will benefit greatly from the growing consumer awareness about cross-border purchasing because of its immediate advertising potential and the ease and speed, with which businesses can offer their products at best prices.
Asia Pacific is a key market, owing to major e-commerce players in the region, such as Amazon.com, Alibaba Group, Flipkart Internet Private Limited, and E-bay Inc. Initiatives such as Digital India, and partnerships between e-commerce platform providers and brick & mortar stores, are further expected to boost the market. The development of the auto parts manufacturing industry in Asia Pacific is primarily driven by the growing automobile manufacturing industry, especially in countries, such as China, Korea, and India. The lucrative automotive industry of the region is driving the growth of the online automotive parts and components market in Asia Pacific.
The major e-commerce automotive aftermarket players in the market are majorly focusing on differentiation of products and services for enhancing their customer traction. Major automobile component manufacturers are also adopting the online channels for strengthening their customer base. The market players are also adopting the online sales channel for higher revenue generation.
Industry/innovation/Related News:
June 12, 2018 – Xevo Inc. (US), one of the global leaders in connected car technology and automotive telematics announced its partnership with TomTom (the Netherlands), a leading global provider for lifestyle items and traffic and navigation technology to incorporate its in-car on-demand e-commerce platform - Xevo Market, into navigation systems.
June 14, 2018 – Motorsport Network LLC (US), a motorsports and automotive digital media and Technology Company announced the expansion of its global e-commerce platform while launching MotorsportPRO.com, an online retail website assisting the auto racing enthusiasts and their racing & safety equipment needs.
Major Table Of Contents:
Table 1 Global E-Commerce Market: By Region, 2017-2023
Table 2 North America E-Commerce Market: By Country, 2017-2023
Table 3 Europe E-Commerce Market: By Country, 2017-2023
Table 4 Asia Pacific E-Commerce Market: By Country, 2017-2023
Table 5 RoW E-Commerce Market: By Country, 2017-2023
Table 6 Global E-Commerce Market, By Type, By Regions, 2017-2023
Continued...
Browse more on this report at: https://www.marketresearchfuture.com/reports/automotive-ecommerce-market-4682
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