NEW YORK, July 11, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Automotive E-Tailing Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Vendor type (OEM and Third Party), Product Label (Genuine Label and Counterfeit Label Product), Components (Tires and Wheel, Infotainment and Multimedia, Interior Accessories, Electrical and Electronics and Powertrain), Application (Passenger cars & Commercial vehicles and Two-Wheelers)” published by P&S Market Research, the global automotive E-Tailing market is projected to reach $59,485.0 million by 2023, growing at a CAGR of 13.1% during the forecast period (2017 - 2023).
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As per the research, the global automotive E-Tailing market high is likely to grow from $26,064.0 million in 2016 to $59,485.0 million by 2023. The rapidly growing automotive industry especially in emerging economies of Asia-Pacific, Africa and Latin America is generating significant demand for automotive E-Tailing.
The automotive E-Tailing market offers a wide range of automotive components including infotainment systems, interior accessories, engine parts, tires-wheel, and electrical components. The E-Tailing market offers easy and hassle-free transactions as it includes various global and established players such as Alibaba, Amazon, AutoZone and eBay that is supporting positive growth in the market. E-Tailing is at the emerging stage in the developing markets such as India and Brazil, whereas the market is already growing significantly in countries such as the U.S., the U.K., and Germany due to high adoption E-Tailing by end users and availability of a large number of sellers.
In 2016, Asia-Pacific dominated the global automotive E-Tailing market with over 44% share. The Asia-Pacific E-Tailing market is expected to grow at a CAGR of 13.7% supported by the largest market in China followed by India and Japan during the forecast period. Such growth is likely to be driven by increase in GDP and rapid economic growth in developing countries such as India and China. Additionally, growing number of new players and startups are entering in the Asia-Pacific market and selling their products in Tier-I cities. The trend for online shopping has increased in recent years and the new and the established players are leveraging the positive growth in the automotive E-Tailing market. Moreover, the government is supporting the startups and providing them financial assistance and easy funding policies. Additionally, the European market for automotive E-Tailing is expected to grow at a significant CAGR during the forecast period, owing to a growing number of internet users and increasing number of component suppliers in developed countries such as Germany and the U.K. Moreover, the North American E-Tailing market is dominated by the U.S., which is growing at the highest CAGR due to a wide number of stores offering product and services online.
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The research states that the global automotive E-Tailing market had a consolidated structure in 2016 that was dominated by organized players. Some of the key players in the global automotive E-Tailing market include Advance Auto Parts, Alibaba Group Holding Limited, Amazon.com Inc., Delticom AG, O’Reilly Auto Parts, Flipkart and eBay.
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