The e-commerce industry has established its hold all across the globe. Owing to this fact it can be confidently asserted that the global market for E-Commerce Automotive will experience tremendous growth in the upcoming years. Figuratively, the market is anticipated to earn around USD 24 million by the end of the projection period. The approximate CAGR for this timespan will be higher than 6%.
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Market Players & Growth Strategies: Some of the most reliable and efficient players of this market can be listed as Wal-Mart Stores, Taobao, eBay Inc., American Tire Distributors Holdings, Alibaba Group Holding Limited and Snapdeal.
As already mentioned the customers are already leaning towards online shopping. This fact contributes as a prime growth driver for this market. These days’ people choose to buy automotive products online itself rather than taking that painstaking trip to the store. Out of this it is the E-Commerce Automotive market that reaps the benefit. Furthermore, various other factors like obsoleting vehicle fleets, development of the e-commerce industry, digitization of various mediums, a variety of options and greater price transparency tend to positively influence market expansion.
The emergence of new and innovative products, changing customer preferences and rapid advancement of the technology sector will further foster the growth of the market. However, the market may come across minor restraints like identification of damaged parts and lack of expertise amongst the masses to install the automotive component purchased online. Although, efforts are being made to rectify these minor issues and soon enough the market will cope with these.
E-Commerce Automotive Market Segmentation:
The worldwide market for E-Commerce Automotive has been segmented into one single part. It is listed below along with its sub-segments.
Types – Universal joints, wipers, braking, gaskets and steering & suspension. Out of these, the braking sub-division totaled for the largest market share of 28.9% back in the year 2016. In the years that will follow, this segment will continue to grow. It is estimated to generate a staggering revenue. The CAGR for this segment over the forecast period is believed to be 7.55%.
E-Commerce Automotive Market Comprehensive Regional Analysis:
The E-Commerce Automotive market is not constrained in terms of region, it has been quite successful in establishing a stronghold all across the world. The major reasons where the presence of this market can be observed are North America, Asia Pacific, Europe and Rest of the World.
After careful analysis of all the regional growth trends in the aforementioned areas, the report by MRFR (Market Research Future) concluded that North America led the market region-wise. It can be attributed to the presence of several brick and mortar stores that the third party e-commerce platform sellers can utilize to sell their products. Europe follows suit and is expected to witness rapid progression over the forecast period at an impressive CAGR.
E-Commerce Automotive Industry News:
April 4, 2018 – Recently an e-commerce platform Carvana that specializes in retailing used cars announced its expansion in Lexington. The buyers can use this website to get access to more than 10,000 cars and their parts. This expansion is expected to work in the favor of the market and boost the business for the same.
All of the stakeholders of this market keep updating themselves with the latest industry trends to stay ahead in the competitive arena. Apart from that they also employ certain growth strategies like the expansion of business, strategic alliances and investment in research and development activities.
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Target Audience of Report:
This report mainly focuses on E-Commerce Automotive market Distributer & Supplier companies, and end Users. Investment bankers and consultants with end user for E-Commerce Automotive market also analyzed. And finally Government and Independent Regulatory Authorities involved with Global E-Commerce Automotive market studied.
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