Artificial Intelligence
Revolutionizing Automotive Sales and Service: The Global Automotive Dealer Management System Market
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Westford, USA, April 28, 2023 (GLOBE NEWSWIRE) — SkyQuest projects that the automotive dealer management system market will attain a value of USD 13.80 billion by 2030, with a CAGR of 8.5% over the forecast period (2022-2030). The market is expanding quickly due to the rising need for integrated software solutions in the automotive retail sector. With a variety of software and services available to auto dealerships, the market is characterized by the presence of several well-established businesses as well as recent arrivals. The expanding use of cutting-edge technology in the automotive sector is one of the major forces driving the market. By incorporating advanced technologies such as artificial intelligence, machine learning and the Internet of Things (IoT) into DMS solutions, dealerships can automate their processes, increase productivity and improve customer satisfaction.
According to the SkyQuest, the growing trend of digitization and online sales in the automobile industry is another factor driving the market for the automotive dealer management system. Dealerships can reach a larger audience and sell their goods and services more successfully because of the growing integration of DMS solutions with online marketplaces and other e-commerce platforms. The market is nevertheless dealing with significant difficulties, such as escalating competition and the high price of DMS solution deployment.
Browse in-depth TOC on “Automotive Dealer Management System Market”
- Pages – 219
- Tables – 59
- Figures – 75
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An automotive dealer management system platform assists car dealerships in managing their everyday tasks, such as sales, inventory management, customer relationship management, financing, and reporting. Dealerships can streamline their operations and increase productivity to the system’s integration of several business processes into a single platform. DMS solutions are made to meet the particular requirements of the automotive sector, including maintaining a sizable and frequently changing inventory, monitoring sales and service operations, storing customer data and integrating with third-party systems such as accounting software and internet marketplaces.
Prominent Players in Automotive Dealer Management System Market
- CDK Global
- Cox Automotive
- Reynolds and Reynolds
- DealerSocket
- Dominion Dealer Solutions
- Epicor Software Corporation
- IBM Corporation
- SAP SE
- Autosoft, Inc.
- Dealertrack
- R&R Business Consultants
- Auto/Mate Dealership Systems
- Quorum Information Technologies
- Xtime
- AutoLoop
- PBS Systems
- DealerBuilt
- Dealertrack DMS
- Dealer-FX
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Software Segment is Expected to Grow Due to Rising Demand for Operation Management in Automobile Dealerships
The software segment includes various software solutions necessary for managing the operations of automobile dealerships, accounts for most of the global automotive dealer management system market. This region includes software for dealer management, inventory management, customer relationship management and other software solutions that auto dealerships use to organize their processes and boost productivity.
North America dominated the global market for automotive dealer management system. The market in North America is substantial and established due to presence of numerous essential automakers and dealerships in the region. The North America’s largest market is the United States, followed by Canada and Mexico. The market is anticipated to expand steadily due to the rising adoption of cutting-edge technology in the sector and the rising need for integrated software solutions in automotive retail operations. However, the industry is anticipated to confront difficulties like escalating competition and expensive implementation and maintenance costs for DMS solutions.
Services Segment is Anticipated to Grow Due to its Rising Support and Maintenance Services
The services segment is anticipated to experience the fastest growth in the global market over the forecast period as it encompasses a variety of consultancy, support and maintenance services necessary to maintain the efficient operation of DMS solutions. In addition, the need for related services, including consultancy, support and maintenance services, which are required to maintain the effective operation of DMS solutions is anticipated to increase as automotive dealerships implement DMS solutions at an increasing rate.
The Asia Pacific region is anticipated to have the fastest growth in the market. China and India are the two largest markets due to the substantial expansion of the automobile industry in these countries. Furthermore, due to the expanding use of cutting-edge technologies in the automotive sector and the rising need for integrated software solutions in automotive retail operations, the Asia Pacific automotive DMS market is anticipated to expand significantly over the coming years.
A comprehensive analysis of the major players in the Automotive Dealer Management System market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Automotive Dealer Management System Market
- DriveFlex, a new Dealer Management System (DMS) platform, was introduced by CDK Global, a top supplier of automotive retail technology solutions. The platform aims to give dealers a better, more adaptable and user-friendly solution.
- Fyusion, was acquired by Cox Automotive in 2021. The acquisition is anticipated to improve Cox Automotive’s inventory control and digital retailing capabilities.
Key Questions Answered in Automotive Dealer Management System Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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