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LONDON, GREATER LONDON, UNITED KINGDOM, September 5, 2024 /EINPresswire.com/ -- The automotive E-tailing market has experienced robust growth in recent years, expanding from $50.09 billion in 2023 to $56.79 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to increasing internet penetration, growth of E-commerce platforms, improving logistics and delivery systems, the proliferation of secure and convenient digital payment, and increasing digital payment.
What Is The Estimated Market Size Of The Global Automotive E-Tailing Market And Its Annual Growth Rate?
The automotive E-tailing market is projected to continue its strong growth, reaching $94.47 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to the increasing use of mobile commerce, rising adoption of EVs, expansion of Aftermarket Services, increasing awareness and demand for sustainable and eco-friendly automotive products, and increasing penetration of online shopping.
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Growth Driver Of The Automotive E-Tailing Market
The increasing penetration of the internet is expected to propel the growth of the automotive E-tailing market going forward. Internet penetration refers to the percentage of the population that uses the Internet, allowing for enhanced connectivity and digital interactions. The usage of the internet is rising due to several factors, such as affordability, digital transformation, social connectivity, and economic opportunities. The internet allows automotive E-tailers to reach a global audience, making it easier to compare prices and make informed purchases. E-tailers use digital marketing methods to attract customers, increase interaction, and build brand loyalty.
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Which Market Players Are Driving The Automotive E-Tailing Market Growth?
Key players in the automotive E-tailing market include Amazon.com Inc., AutoZone Inc., O’Reilly Auto Parts, Advance Auto Parts, eBay Inc., CarParts.com Inc., JEGS High Performance, 1A Auto Parts, Edmunds.com Inc., Carwow Ltd., CARiD.com, Buy Auto Parts, FCP Euro, RockAuto LLC, Rallysport Direct, Spinny, PartsGeek, Autotrader Inc., Autohaus Arizona Inc., JC Whitney, Summit Racing Equipment.
What Are The Emerging Trends Shaping The Automotive E-Tailing Market Size?
Major companies operating in the automotive E-tailing market are developing innovative solutions, such as digital lending platforms, to eliminate challenges associated with online car sales and offer a better buyer experience. A digital lending platform for retailing enables car manufacturers, dealers, aggregator platforms, and lenders to provide end-to-end digital retailing to their consumers, making automotive financing available, paperless, and instant for all creditworthy applicants.
How Is The Global Automotive E-Tailing Market Segmented?
1) By Component: Electrical Products, Engine Components, Infotainment, Interior Accessories, Tires
2) By Vehicle Type: Two-Wheeler, Passenger Vehicle, Commercial
3) By Product Label: Counterfeit, Branded
4) By Vendor Type: Original Equipment Manufacturers (OEMs), Third Party
Geographical Insights: Asia-Pacific Leading The Automotive E-Tailing Market
Asia-Pacific was the largest region in the automotive E-tailing market in 2023. The regions covered in the automotive E-tailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive E-Tailing Market Definition
Automotive E-tailing is the online retailing of vehicle parts, accessories, and services via digital platforms. It offers users a simple and efficient way to browse, compare, and buy a wide range of automotive products at lower prices and a larger selection than traditional retail stores.
Automotive E-Tailing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive E-tailing market report covering trends, opportunities, strategies, and more
The Automotive E-Tailing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive E-tailing market size, automotive E-tailing market drivers and trends, automotive E-tailing market major players, automotive E-tailing competitors' revenues, automotive E-tailing market positioning, and automotive E-tailing market growth across geographies. The automotive E-tailing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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