Automotive E-commerce Components Market Outlook 2034
- The industry was valued at US$ 103.5 Bn in 2023
- It is estimated to advance at a CAGR of 10.0% from 2024 to 2034 and reach US$ 314.2 Bn by the end of 2034
Analyst Viewpoint
Rise in adoption of smartphones and internet is driving the automotive e-commerce components market value. The use of smartphones and internet has increased the adoption rates of e-commerce platforms for automotive parts. It has transformed the way consumers and businesses select products and engage with brands.
Growth in online procurement of wholesale automotive parts is also boosting the automotive e-commerce components market demand. Retail and wholesale consumers are more inclined toward e-commerce platforms than the traditional dealership process due to increase in preference for convenience shopping and trust in digital automotive retailing.
Integration of Artificial Intelligence (AI) and machine learning tools is likely to offer lucrative automotive e-commerce components market opportunities to vendors. Key players are enhancing their online platforms with advanced features and capabilities to improve the shopping experience of customers.
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