Impact of COVID-19 on the Automotive E-tailing Market: An Analysis...

Impact of COVID-19 on the Automotive E-tailing Market: An Analysis

Posted 2023-03-20 05:58:50

E-tailing Market Overview

E-tailing is the process of buying and selling goods through the internet. The process includes selling goods from the B2C method. The implementation of E-tailing in the automotive sector is massively growing due to the rise in demand for components. It has driven the sales of automobiles globally. This technology has boosted the convenience of online shopping platforms and products available in a wide range. Due to these factors, the Automotive E-tailing Market is emerging at a higher pace.

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The higher investment in e-commerce platforms is acting as a major driving of the market. Factors such as awareness of security concerns and the risk of security breaches restrict the market's growth. But there are growth factors that are accelerating its demand. Higher usage of the internet, increased rate of the vehicle user population, availability of cheaper automotive components, and the rise in demand for omnichannel insights are the key drivers of the market.

The awareness and inclination toward using the internet and convenient online shopping mode accelerate the Automotive E-tailing Market. The growth opportunities are fueling the market's demand. The rise in vehicle-age circulation increased the sales rate of passenger cars, and higher investment in e-commerce platforms is upbringing massive growth opportunities.

During the pandemic period, the Automotive E-tailing Market faced challenges when negative factors restricted the growth rate. The market noticed a sharp drop due to the lockdown impact. In most of the major regions, it faced growth restrictions. But in the further days of the pandemic, the market noticed a steady growth rate when the e-commerce platforms enhanced. In the post-pandemic period, the market is estimated to witness significant growth in the review period. The presence of major growth opportunities is accelerating the market's demand.

The Automotive E-tailing Market is estimated to reach a CAGR of approximately 12 % and a value of USD 55.22 Billion by 2022 to 2030.

E-tailing Market Segmentation

The Automotive E-tailing Market is segmented into vendor type, components, and vehicles.

The vendor type segment is fragmented into OEM vendors and third-party vendors. The component segment is classified into Electrical and Electronics, Chassis, and Powertrain.

The vehicles section is categorized into commercial vehicles and non-commercial vehicles.

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E-tailing Market Regional Analysis

According to the geographical update of the Automotive E-tailing Market, it covers the major regions such as the Americas, including North America and Latin America, Asia Pacific, Europe and the Middle East and Africa.

The Asia Pacific is estimated for the largest market size, and it is estimated to lead the market in the forecasted period. The region is emerging due to the increase in internet penetration and the increased adoption rate of newer technologies like smartphones in this region. Emerging economies such as China, Japan, and India highly contribute to the market's growth. Other regions will also estimate a significant market value in the coming years.

Industry News

In May 2018, Walmart Inc. made an agreement to be the greatest shareholder in Flipkart. The company announced its investment would benefit India by providing high-quality and affordable goods for customers for creating new skilled jobs and opportunities for suppliers.

E-tailing Market Key Players