DUBLIN--(BUSINESS WIRE)--The "Automotive Dealer Management System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Service Type, By End Use, By Application, By Region" report has been added to ResearchAndMarkets.com's offering.
The global automotive dealer management system market is projected to grow at a significant CAGR during the forecast period, 2023-2027.
The market growth can be attributed to the rising demand for software and services and rising number of dealerships, franchises, and automotive retailers. Rapid urbanization, increasing population, and rising personal disposable incomes are also boosting the sales of automotives, which is expected to contribute to the growth of the global automotive dealer management system in the coming years.
An automotive dealer management system is software used to channel customer data, vehicle pricing, parts details, administration, warranty claims, and so on. These software systems function as a hybrid of CRM and ERP software. The automotive dealer management system can also be used to maintain after-sales customer service, keep sales and related service records, maintain vehicle inventory and sales, and assist in customer grievances.
High demands for the personal as well as commercial vehicles from the consumers, owing to rising personal disposable income and rapid urbanization are propelling the sales of automobiles, which in turn, is expected to propel the automotive dealer management system market growth. To overcome the scattered data of multiple sales, and similar concerns during the dealerships of the vehicles, software like automotive dealer management system adds to the convenience of the sales and maintaining better customer relationships.
Due to the rising requirement to manage the vehicle dealing effectively and efficiently, the software is gaining popularity and thus driving the growth of the global automotive dealer management system market in the upcoming five years. On a global scale, more than 67 million units of vehicles were sold in the year 2021, although global industries were drastically suffering from the struct regulations of the pandemic due to COVID-19.
Technological advancement is the base of the evolvement of the dealer management systems. With better CRM & ERP approaches, the dealers are able to monitor their regular sales, part replacement, warranty claims, customer feedbacks, and grievances, business intelligence, enhance their sales, compare the product values in the market, etc. Moreover, increasing investment in the technological advancement of management system coupled with rapid adoption to the cloud based technology for swift transition from paperwork to the cloud based data storage & access further are adding to the growth of the global automotive dealer management system market.
Artificial intelligence also plays a vital role in improving the services of the automotive dealer management systems. Real-time visibility, simplified business operations, and engaging customer communication, along with the targeted sales reporting improved commissions and insurance calculations, campaign management like services are feasible due to incorporation of the artificial intelligence with the dealer management systems (DMS), thus substantiating the growth of the global automotive dealer management systems market in the next five years.
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Objective of the Study:
- To analyze the historical growth in the market size of the global automotive dealer management system from 2017 to 2021.
- To estimate and forecast the market size of global automotive dealer management system market from 2023 to 2027 and growth rate until 2027.
- To classify and forecast the global automotive dealer management system market based on service type, end use, application, region, and company.
- To identify the dominant region or segment in the global automotive dealer management system market.
- To identify drivers and challenges for the global automotive dealer management system market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global automotive dealer management system market.
- To identify and analyze the profiles of leading players operating in the global automotive dealer management system market.
- To identify key sustainable strategies adopted by market players in global automotive dealer management system market.
Companies Mentioned
- CDK Global LLC
- The Reynolds and Reynolds Company
- DealerTrack Holdings Inc.
- Dominion Enterprises
- incadea GmbH
- International Business Machines (IBM) Corporation.
- Autofusion, Inc.
- BiT Dealership Software, Inc.
- Blue Skies Business Solutions Inc
Report Scope:
In this report, global automotive dealer management system market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Automotive Dealer Management System Market, By Service Type:
- Cloud Based
- On Site
Automotive Dealer Management System Market, By End Use:
- Public
- Private
Automotive Dealer Management System Market, By Application:
- Inventory Management
- Dealer Tracking
- Customer Relationship Management
- Others
Automotive dealer management system Market, By Region:
- North America
- Asia-Pacific
- Europe & CIS
- South America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/77m38b
