Automotive E-tailing Market Worth 49.07 Billion USD by 2021
PUNE, India, December 9, 2016 --
The report "Automotive E-tailing Market by Vehicle Type, Vendor (OEM and Third Party), Product Label (Branded and Counterfeit), Components (Infotainment, Interior Accessories, Engine Components, Tires, and Electrical Products), Technology, and Region - Global Forecast to 2021", published by MarketsandMarkets, The global market is projected to grow at a CAGR of 12.53% during the forecast period, to reach USD 49.07 Billion by 2021 from an estimated USD 27.19 Billion in 2016.
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Browse 86 market data Tables and 75 Figures spread through 166 Pages and in-depth TOC on "Automotive E-tailing Market"
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The major factors behind the growth of the global Automotive E-tailing Market are increasing internet penetration, higher vehicle population coupled with the higher vehicle age in different countries.
Third Party vendors are the biggest sellers in the global Automotive E-tailing Market
Third party vendors such as Amazon, Alibaba, and Ebay are the biggest players in the global Automotive E-tailing Market. Availability of broad range of products, features such as price comparison, customer reviews, and the discounts are the major factors driving the global market for online sales of automotive components.
Online tire sales: Expected to increase in developing countries
Among various automotive components, tires are the mostly commonly sold component online. The ease of replacing a tire means that most automotive customers prefer to buy it online. The U.S., China, and Japan are countries that have large vehicle populations, which require frequent tire changes, which makes them forerunners in the online tire market.
North America holds the largest market share for E-commerce software platform market for 2016
North America is currently the largest market for e-commerce software platforms. The drivers for this growth are increased spending on e-commerce platforms by large retailers, who have invested in dedicated mobile platforms, and high internet penetration rate. In North America, the U.S. is the revenue hot spot for this market and would dominate throughout the overall forecast period.
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Asia-Pacific: Projected to witness highest CAGR for Automotive E-tailing Market
Asia-Pacific is projected to be the largest market for Automotive E-tailing Market due to growing economies of countries such as China and India. Growth of technological infrastructure, increasing internet penetration, convenience of online shopping and existing vehicle population are the major factors for Asia-Pacific to be the fastest growing market. Additionally, countries like China, India, Japan and South Korea are more inclined towards adopting new technologies such as using internet and smartphones, which has also accounted for such huge growth in this market for automotive components online sales.
The major market players in the global Automotive E-tailing Market are Advance Auto Parts (U.S.A.), Alibaba Group Holding Limited (China), Amazon.com Inc. (U.S.A.), Delticom AG (Germany), O'Reilly Auto Parts (U.S.A.), Flipkart (India) and eBay Inc. (U.S.A.) etc. which have their presence in not only the domestic but in the international market as well.
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