Automotive E-Tailing Market Growing at The Fastest Pace by The Growing Internet Penetration and Growing Trend Of Online Purchases

The global Automotive E-Tailing Market is showing significant growth and it is projected to grow at a CAGR of 12.53% from 2016 to 2021, to reach a market size of USD 49.07 billion by 2021. The current vehicle population along with the higher average vehic

(EMAILWIRE.COM, November 24, 2018 ) The global Automotive E-Tailing Market is showing significant growth and it is projected to grow at a CAGR of 12.53% from 2016 to 2021, to reach a market size of USD 49.07 billion by 2021. The current vehicle population along with the higher average vehicle age coupled with online buying behavior of consumers is projected to drive the market for automotive E-tailing.

Technological advancements such as mobile computing, same-day delivery services, augmented reality, multi-channel shopping and virtual sales forces are bringing a significant change in the E-tailing market. The existing technological infrastructure and government regulations are also playing a vital role in the development of the automotive E-tailing sector.
Chinese E-tailing has shown a significant growth, registering a Y-o-Y growth of 7% because of growing internet penetration. The continuous increase in automobile sales along with the current vehicle population in the country has further driven the market for automotive E-tailing. China’s vehicle population reached 172 million by 2015 and the average age of the vehicle population is also expected to reach 4.5 years, by 2017. This is expected to increase the demand for aftermarket parts and services in the country. Selling of cars and auto parts via E-commerce is a new trend in China. Alibaba is the biggest E-tailing company in China operating popular online marketplaces, Tmall and Taobao. The company also sells auto parts of OEM manufacturers such as Bosch on Tmall.com.

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The increasing vehicle population across all the countries is driving the demand for automotive parts and components. The ease of availability, convenience, and growing internet penetration has resulted in a sudden increase in the demand of automotive components. This has also motivated OEMs to adopt online platform for selling the automotive components. Third party vendors who offer aftermarket auto parts and components are showing significant growth. Vendors such as Alibaba, Amazon, Delticom AG, Advance Auto Parts, Ebay, Flipkart, AutoZone, and O’Reilly, offer low prices along with variety and different brand of products in the same marketplace while OEM vendors such as Bosch, Goodyear, Toyota, Mercedes Benz, etc. only sell their own spare-parts.

According to MarketsandMarkets analysis, the global E-commerce software platform market is estimated to be USD 4.08 million in 2016 and is projected to grow at a CAGR of 15.1 % during the forecast period. The major factors driving this growth are increased adoption of mobile platforms, cloud computing, increasing internet and smartphone use across the globe, and huge spending by SMBs on technology integration and add-on functionalities on e- commerce platforms.

The Asia-Pacific region is the biggest automotive E-tailing market. The increasing vehicle sales along with the existing vehicle population has opened new opportunities for the global automotive E-tailing platform providers. Automotive E-tailing is also expected to grow at the fastest pace in this region, supported by the growing internet penetration and growing trend of online purchases. The improving infrastructure and encouraging government policies are further boosting the growth of the automotive E-tailing in this region.

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