LONDON--(BUSINESS WIRE)--The global automotive aftermarket e-retailing market 2018-2022 is expected to post a CAGR of close to 19% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the convenience of purchasing automotive products online. Convenience is an important parameter for retail customers in the automotive industry. Vendors in the automotive industry and aftermarket e-retailing market give preference to technology. This is because it provides convenience and simplifies the process of purchasing automotive products. E-retailing has generated high interest in the customer segment in recent years, particularly in developed countries where there is a presence of organized aftermarkets.
This market research report on the global automotive aftermarket e-retailing market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of advanced analytical tools to revolutionize aftermarket e-retailing as one of the key emerging trends in the global automotive aftermarket e-retailing market:
Global automotive aftermarket e-retailing market: Use of advanced analytical tools to revolutionize aftermarket e-retailing
Advances in computing technology and the emergence of new digital data sources have reinvented the core disciplines of the automotive aftermarket. Creative sourcing of data and distinctive analytics methods are likely to provide a competitive advantage for e-retailers in terms of better decision making. E-retailers use analytical tools to collect customer data, which along with location-based capabilities allow e-retailers to provide personalized offers on the sale of auto parts. It is important for e-retailers to decide upon optimum discounts and offers to value-based pricing as it is important to create a sustainable business in the global aftermarket e-tailing market.
“Analytical tools also allow e-retailers to optimize inventory management. This can lead to significant cost savings, which will reduce the margin pressure on e-retailers caused by factors such as the increase in the prices of parts and other macroeconomic factors,” says a senior analyst at Technavio.
Global automotive aftermarket e-retailing market: Segmentation analysis
This market research report segments the global automotive aftermarket e-retailing market by product (wheels and tires, brakes and brake pads, and others), by customer type (DIY customers and professional customers) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 48%, followed by APAC and EMEA, respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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