According to a new market research report “Global Automotive E-Tailing Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Vendor type (OEM and Third Party), Product Label (Genuine Label and Counterfeit Label Product), Components (Tires and Wheel, Infotainment and Multimedia, Interior Accessories, Electrical and Electronics and Powertrain), Application (Passenger cars & Commercial vehicles and Two-Wheelers)” published by P&S Market Research, the global automotive E-Tailing market is projected to reach $59,485.0 million by 2023, growing at a CAGR of 13.1% during the forecast period (2017 - 2023).
Browse Report Description at: https://www.psmarketresearch.com/market-analysis/automotive-e-tailing-market
Global automotive E-Tailing market worth $26,064.0 million in 2016
As per the research, the global automotive E-Tailing market high is likely to grow from $26,064.0 million in 2016 to $59,485.0 million by 2023. The rapidly growing automotive industry especially in emerging economies of Asia-Pacific, Africa and Latin America is generating significant demand for automotive E-Tailing.
The automotive E-Tailing market offers a wide range of automotive components including infotainment systems, interior accessories, engine parts, tires-wheel, and electrical components. The E-Tailing market offers easy and hassle-free transactions as it includes various global and established players such as Alibaba, Amazon, AutoZone and eBay that is supporting positive growth in the market. E-Tailing is at the emerging stage in the developing markets such as India and Brazil, whereas the market is already growing significantly in countries such as the U.S., the U.K., and Germany due to high adoption E-Tailing by end users and availability of large number of seller.
Insights on market segments
As per the findings of research, the global automotive E-Tailing market has been segmented into different component which include infotainment system, interior accessories, engine parts, tires and wheels, and electrical products. The tire and wheel segment held the largest share in the global automotive E-Tailing market in 2016. The major factors driving the growth of the E-Tailing market is growing adoption of online shopping for automotive components by the end-users along with the availability of wide range of product at discounted price.
Asia-Pacific stands as the largest region for global automotive E-Tailing market
In 2016, Asia-Pacific dominated the global automotive E-Tailing market with over 44% share. The Asia-Pacific E-Tailing market is expected to grow at a CAGR of 13.7% supported by the largest market in China followed by India and Japan in during the forecast period. Such growth is likely to be driven by increase in GDP and rapid economic growth in developing countries such as India and China. Additionally, growing number of new players and startups are entering in the Asia-Pacific market and selling their products in Tier-I cities. The trend for online shopping has increased in recent years and the new and the established players are leveraging the positive growth in the automotive E-Tailing market. Moreover, the government is supporting the startups and providing them financial assistance and easy funding policies. Additionally, the European market for automotive E-Tailing is expected to grow at a significant CAGR during the forecast period, owing to growing number of internet users and increasing number of component suppliers in in developed countries such as Germany and the U.K. Moreover, the North American E-Tailing market is dominated by the U.S., which is growing at the highest CAGR due to wide number of stores offering product and services online.
Growing demand of passenger and commercial vehicles worldwide
The major factor driving the growth of the market is the growing demand of passenger and commercial vehicles globally. Growing countries such as China and India have showcased the rapid vehicle production, which has increased rapidly over the past five years and the trend is likely to continue during the forecast period. In 2016, growth in sales of passenger vehicles in India was the fastest among the eight largest auto markets worldwide. In 2016, the outlook In the North America including the U.S. and Canada remained promising and achieved considerable growth in sales and without any overriding concern of a slow down on the horizon in either markets. Rest of the world including Iran, Australia and the Middle-east countries have showcased global traction in the recent time and is expected to remain at a forefront of market due to which many OEMs continue to explore local manufacturing options in these countries which will drive the global automotive E-Tailing market.
The market is dominated by organized players
The research states that the global automotive E-Tailing market had a consolidated structure in 2016 that was dominated by organized players. Some of the key players in the global automotive E-Tailing market include Advance Auto Parts, Alibaba Group Holding Limited, Amazon.com Inc., Delticom AG, O’Reilly Auto Parts, Flipkart and eBay.
Expansion and strategic partnerships have been the key strategies in the global automotive E-Tailing market which is driving the global automotive E-Tailing market. For instance, in May 2017, Amazon announced plans to expand its research and development center in Cambridge, the U.K. The company is planning to increase the employee strength to 1,500 by the end of 2017. Earlier in April 2017, Walmart announced plans to increase its number of stores from 21 to 50 in India. The company announced plans expand the stores over a period of next three years. Walmart will open 10 new stores in Telangana for which Walmart India has signed a Memorandum of Understanding (MoU) with the Telangana government.
GLOBAL AUTOMOTIVE E-TAILING MARKET SEGMENTATION
By Product label
By Vendor Type