Sellbyville, DE -- (SBWIRE) -- 02/05/2019 -- E-commerce Automotive Aftermarket is predicted to surpass 1 billion unit with USD 30 billion by 2025.
Third party retailers are likely to account for highest revenue share crossing USD 29 billion by 2025. Rising popularity of these retailers such as eBay, Amazon, etc. will primarily drive the industry growth. High revenue generation can also be attributed to the distinct services. Moreover, provision of benefits such as same day delivery will further strengthen the e-commerce automotive aftermarket penetration.
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E-commerce techniques such as paperless transactions and online auctions have helped minimize product cost and enhanced efficiency. In addition, these techniques have proved to be effective in building relationships with suppliers and buyers, further leading to a rise in cost savings, technological advancements, and manufacturing high quality products. On these grounds, many giants in e-commerce automotive aftermarket and leading automakers are strongly focusing on adopting e-commerce tools like cloud computing and social networking for information exchange. A few years earlier, for example, one of the global automotive leaders, Toyota Motor Corporation, deployed an e-commerce practice across the organization, which apparently had a huge impact on TMC's profit, productivity, savings, B2B relations, and supply chain management. The installation of innovative advancements such as software-based e-commerce facilities and QR technology within the organization helped TMC to strengthen its leadership stance in e-commerce automotive aftermarket.
The automobile sector has indeed been heavily benefitted from the advent of e-commerce. Subject to the installation of e-commerce facilities such as supply chain integration models, OEMs can gather information very efficiently and generate a smooth flow between internal divisions, suppliers, distributors, and customers, and emerge to a viable growth ground for e-commerce automotive aftermarket industry. Currently, most of the automotive manufacturers have installed CRM and ERP systems for improving the company's profile and performance parameters. Easy accessibility for aftermarket products like braking accessories, spark plug, universal joints, filters, gaskets, lightening system, and wipers with the help of e-commerce software solution will indeed have a remarkable impact on ecommerce automotive aftermarket outlook.
In the future, the increasing adoption of emerging technologies such as IoT and artificial intelligence is likely to stimulate e-commerce automotive aftermarket trends. The Germany based automaker, BMW, for example, recently launched its e-commerce pilot project to check the popularity of the brand outside Germany. Considering the fact that many automakers are now officially penetrating the aftermarket business, the intensity of competitive in e-commerce automotive aftermarket is slated to increase tremendously in the years ahead.
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North America e-commerce automotive aftermarket size is anticipated to exhibit a CAGR of approximately 17% by 2025. Well established internet infrastructure will pave stable growth prospects to the region's growth. Presence of prominent e-commerce leaders such as Amazon will strengthen the industry growth over the coming years. Asia Pacific is likely to exhibit considerable share of over USD 9 billion over the coming years. The substantial revenue generation can be attributed to growth in automobile industry along with rising internet penetration across the region.
At a regional level, numerous automakers have been collaborating with local e-commerce firms to increase their overall worth. The 2017 partnership between Alibaba and Ford for instance, granted reciprocal benefits to both the firms – while Alibaba helped Ford increase its car sales, Ford involved Alibaba in its current innovative connected car concept, incorporating Alibaba's cloud-computing platform. Through this agreement, and many more related ones, China, in addition to being one of the largest automotive market, will also emerge to be a major growth avenue for e-commerce automotive aftermarket. Driven by the increasing deployment of regulatory norms related to energy efficiency, the demand for EVs is also expected to rise across the country, further propelling China e-commerce automotive aftermarket share.
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As of now, digitalization has emerged to be a major driving force responsible for the transformation across the global automotive space. The growing acceptance of the internet, smartphones, and cellular and wireless communication is slated have a large-scale influence on e-commerce automotive aftermarket size. Having recognized the importance of e-commerce across automotive sector, the players in e-commerce automotive aftermarket including Advance Auto Parts, Amazon, Denso Corporation, Bosch, AliExpress, Flipkart, Napa Auto Parts, and E-bay are working constantly to improve the infrastructure of online portals. The surging investments in online facility enhancements with the help AI and IoT are indeed likely to stimulate e-commerce automotive aftermarket trends over the years ahead.
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