The report "E-tailing Market for Automotive Applications by Vehicle Type, Vendor, Components (Infotainment, Interior Accessories, Engine Components, Tires, and Electrical Products), Product Label, Technology, and Region - Global Forecast to 2021", The E-tailing market for automotive applications is projected to grow at a CAGR of 12.53% from 2016 to 2021, to reach a market size of USD 49.07 Billion.
Browse 96 market data tables and 68 figures spread through 178 pages and in-depth TOC on “E-tailing Market for Automotive Applications by Vehicle Type, Vendor, Components (Infotainment, Interior Accessories, Engine Components, Tires, and Electrical Products), Product Label, Technology, and Region - Global Forecast to 2021”
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The major factors behind the growth of the E-tailing market for automotive applications 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 E-tailing market for automotive applications
Third party vendors such as Amazon, Alibaba, and Ebay are the biggest players in the E-tailing market for automotive applications. 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.
The E-tailing market for automotive applications 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. The base year for the report is 2015 and the forecast year is 2021. The current vehicle population, increasing automobile sales, and increasing penetration of internet has led to the increase in online sales of automotive components.
The online sales of automotive components through third party vendors such as Alibaba Group Holding Limited, Amazon.com, Inc., and O’Reilly Auto Parts etc., are estimated to show the fastest growth during the forecast period. The increasing internet penetration coupled with discount offered are pushing the online sales of automotive components. Low pricing strategy and multiple online offers, coupled with the facility of comparing parts online based on specification, price, and guarantee are further driving the E-tailing market for automotive applications.
The online sales of automotive components for the passenger car segment is the fastest growing segment in the E-tailing market for automotive applications. The growth can be attributed to the growing sales of passenger cars across the globe coupled with the present passenger car population of about 1 billion. The increasing internet penetration, rise in the sales of passenger cars, existing vehicle population and the time and cost convenience of purchasing parts online are the major factors which are contributing to this growth.
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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.
Asia-Pacific: Projected to witness highest CAGR for E-tailing market for automotive applications
Asia-Pacific is projected to be the largest market for E-tailing market for automotive applications 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 E-tailing market for automotive applications 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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