NEW YORK, Nov. 8, 2022 /PRNewswire/ — The Online Car Buying Market is estimated to grow by USD 214.41 million during 2021-2026. The market will accelerate at a CAGR of 12.4% with Y-O-Y growth of 12.0%. The report extensively covers the online car buying market segmentations by Class Type (pre-owned and new vehicle) and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Request Free Sample Report.
Online Car Buying Market: Regional Analysis
Technavio has announced its latest market research report titled Global Online Car Buying Market 2022-2026
North America will contribute 46% of market growth. The market for online automobile sales in North America will expand as disposable income and consumer technological literacy rise. The US, Canada, and Mexico are major contributors to the North American online auto sales market. Many North American OEMs are experimenting with online sales to give their customers a better online experience, including enhanced price transparency, the convenience of ordering from home, and a digital payment mechanism.
Along with these factors, the regional online car buying market is anticipated to grow over the course of the forecast period due to the rising demand for personal vehicles, the increase in internet users, and the digitalization of the automotive retail sector. Download Free Sample Report.
Online Car Buying Market: Parent Market Analysis
Technavio categorizes the global online car buying market as a part of the global automotive market under the global automobiles and components industry. The parent market, the global automotive market, covers companies engaged in the production of vehicles such as passenger cars, commercial vehicles, and all-terrain vehicles. It does not include manufacturers of motorcycles, scooters, e-bikes, trikes, and three-wheelers.
The growth of the global automotive market will be driven by the following factors:
Idealizing concepts and inclusion of advanced features in vehicles
An increasing number of mergers and acquisitions (M&A) and joint ventures (JVs)
Integrating 3D printing to speed up automobile production
Increasing demand for electric vehicles
Growing investment in autonomous vehicles
To unlock information about vendor drive costs and customer service, Buy Sample Report.
Online Car Buying Market: Vendor Analysis
The global online car buying market is highly fragmented due to the presence of numerous established global and regional players. Vendors compete based on price, fleet size, car model, and marketing expertise. Vendors are implementing strategies such as online review management, creating a user-friendly web experience, and using social media to increase their customer base. With the increasing adoption of these strategies, the competition in the market will increase.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
American City Business Journals Inc.
Asbury Automotive Group Inc.
AutoNation Inc.
CarGurus Inc.
CarMax Inc.
Cars and Bids LLC
Cars.com Inc.
Cars24 Services Pvt. Ltd.
CarSoup of Minnesota Inc.
Carvago
Carvana Co.
Cox Enterprises Inc.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.
Online Car Buying Market: Driver
The worldwide online automobile buying market’s expansion is largely driven by the rising use of e-commerce and technological developments in online channels. Technological developments like the creation of smartphones and the expansion of the Internet are encouraging the use of e-commerce applications to increase business sales, while the introduction of hybrid and electric vehicles has altered the position of buyers in the global online car-buying market. However, the biggest obstacles to expanding the worldwide online auto purchase business are low customer awareness and acceptability in semi-urban and rural locations.
Get lifetime access to our Technavio Insights! Subscribe to our “Basic Plan” billed annually at USD 5000.
Related Reports:
Car Wax Market by Type and Geography – Forecast and Analysis 2022-2026: The proliferation of vehicles due to the increase in their lifespan is notably driving the car wax market growth, although factors such as the increasing use of ceramic coating as a paint protection substitute may impede the market growth.
Car Rental Market by Type, Mode of Booking, Rental Category, and Geography – Forecast and Analysis 2022-2026: The growth in the travel and tourism industry is notably driving the car rental market growth, although factors such as the rise in the number of car-sharing services may impede the market growth.
|
Online Car Buying Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 12.4% |
|
Market growth 2022-2026 |
$214.41 million |
|
Market structure |
Fragmented |
|
YoY growth (%) |
12.0 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 46% |
|
Key consumer countries |
US, Canada, China, Japan, UK, and Germany |
|
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
|
Companies profiled |
American City Business Journals Inc., Asbury Automotive Group Inc., AutoNation Inc., CarGurus Inc., CarMax Inc., Cars and Bids LLC, Cars.com Inc., Cars24 Services Pvt. Ltd., CarSoup of Minnesota Inc., Carvago, Carvana Co., Cox Enterprises Inc., eBay Inc., Edmunds.com Inc., Hendrick Automotive Group, Lithia Motors Inc., MH Sub I LLC, Miami Lakes Automall, and TrueCar Inc. |
|
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
|
Customization purview |
|
Table of Contents
1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Class Type
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 09: Parent market
Exhibit 10: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
4.1 Five forces summary
Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
4.2 Bargaining power of buyers
Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
4.3 Bargaining power of suppliers
Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
4.4 Threat of new entrants
Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
4.5 Threat of substitutes
Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
4.6 Threat of rivalry
Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
4.7 Market condition
Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Class Type
5.1 Market segments
Exhibit 24: Chart on Class Type – Market share 2021-2026 (%)
Exhibit 25: Data Table on Class Type – Market share 2021-2026 (%)
5.2 Comparison by Class Type
Exhibit 26: Chart on Comparison by Class Type
Exhibit 27: Data Table on Comparison by Class Type
5.3 Pre-owned – Market size and forecast 2021-2026
Exhibit 28: Chart on Pre-owned – Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Pre-owned – Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Pre-owned – Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Pre-owned – Year-over-year growth 2021-2026 (%)
5.4 New vehicle – Market size and forecast 2021-2026
Exhibit 32: Chart on New vehicle – Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on New vehicle – Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on New vehicle – Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on New vehicle – Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Class Type
Exhibit 36: Market opportunity by Class Type ($ million)
6 Customer Landscape
7 Geographic Landscape
7.1 Geographic segmentation
Exhibit 38: Chart on Market share by geography 2021-2026 (%)
Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 40: Chart on Geographic comparison
Exhibit 41: Data Table on Geographic comparison
7.3 North America – Market size and forecast 2021-2026
Exhibit 42: Chart on North America – Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on North America – Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on North America – Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on North America – Year-over-year growth 2021-2026 (%)
7.4 Europe – Market size and forecast 2021-2026
Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)
7.5 APAC – Market size and forecast 2021-2026
Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
7.6 South America – Market size and forecast 2021-2026
Exhibit 54: Chart on South America – Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)
7.7 Middle East and Africa – Market size and forecast 2021-2026
Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
7.8 US – Market size and forecast 2021-2026
Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)
7.9 Canada – Market size and forecast 2021-2026
Exhibit 66: Chart on Canada – Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on Canada – Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on Canada – Year-over-year growth 2021-2026 (%)
7.10 China – Market size and forecast 2021-2026
Exhibit 70: Chart on China – Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on China – Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on China – Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on China – Year-over-year growth 2021-2026 (%)
7.11 UK – Market size and forecast 2021-2026
Exhibit 74: Chart on UK – Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on UK – Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on UK – Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on UK – Year-over-year growth 2021-2026 (%)
7.12 Germany – Market size and forecast 2021-2026
Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)
7.13 Japan – Market size and forecast 2021-2026
Exhibit 82: Chart on Japan – Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on Japan – Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Japan – Year-over-year growth 2021-2026 (%)
7.14 Market opportunity by geography
Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
Exhibit 87: Impact of drivers and challenges in 2021 and 2026
8.4 Market trends
9 Vendor Landscape
9.1 Overview
9.2 Vendor landscape
Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
9.3 Landscape disruption
Exhibit 89: Overview on factors of disruption
9.4 Industry risks
Exhibit 90: Impact of key risks on business
10 Vendor Analysis
10.1 Vendors covered
Exhibit 91: Vendors covered
10.2 Market positioning of vendors
Exhibit 92: Matrix on vendor position and classification
10.3 Asbury Automotive Group Inc.
Exhibit 93: Asbury Automotive Group Inc. – Overview
Exhibit 94: Asbury Automotive Group Inc. – Business segments
Exhibit 95: Asbury Automotive Group Inc. – Key offerings
Exhibit 96: Asbury Automotive Group Inc. – Segment focus
10.4 AutoNation Inc.
Exhibit 97: AutoNation Inc. – Overview
Exhibit 98: AutoNation Inc. – Business segments
Exhibit 99: AutoNation Inc. – Key offerings
Exhibit 100: AutoNation Inc. – Segment focus
10.5 CarGurus Inc.
Exhibit 101: CarGurus Inc. – Overview
Exhibit 102: CarGurus Inc. – Business segments
Exhibit 103: CarGurus Inc. – Key offerings
Exhibit 104: CarGurus Inc. – Segment focus
10.6 Cars.com Inc.
Exhibit 105: Cars.com Inc. – Overview
Exhibit 106: Cars.com Inc. – Product / Service
Exhibit 107: Cars.com Inc. – Key offerings
10.7 Carvago
Exhibit 108: Carvago – Overview
Exhibit 109: Carvago – Product / Service
Exhibit 110: Carvago – Key offerings
10.8 Cox Enterprises Inc.
Exhibit 111: Cox Enterprises Inc. – Overview
Exhibit 112: Cox Enterprises Inc. – Product / Service
Exhibit 113: Cox Enterprises Inc. – Key offerings
10.9 Hendrick Automotive Group
Exhibit 114: Hendrick Automotive Group – Overview
Exhibit 115: Hendrick Automotive Group – Product / Service
Exhibit 116: Hendrick Automotive Group – Key offerings
10.10 Lithia Motors Inc.
Exhibit 117: Lithia Motors Inc. – Overview
Exhibit 118: Lithia Motors Inc. – Business segments
Exhibit 119: Lithia Motors Inc. – Key offerings
Exhibit 120: Lithia Motors Inc. – Segment focus
10.11 MH Sub I LLC
Exhibit 121: MH Sub I LLC – Overview
Exhibit 122: MH Sub I LLC – Product / Service
Exhibit 123: MH Sub I LLC – Key offerings
10.12 TrueCar Inc.
Exhibit 124: TrueCar Inc. – Overview
Exhibit 125: TrueCar Inc. – Business segments
Exhibit 126: TrueCar Inc. – Key news
Exhibit 127: TrueCar Inc. – Key offerings
Exhibit 128: TrueCar Inc. – Segment focus
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 129: Inclusions checklist
Exhibit 130: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 131: Currency conversion rates for US$
11.4 Research methodology
Exhibit 132: Research methodology
Exhibit 133: Validation techniques employed for market sizing
Exhibit 134: Information sources
11.5 List of abbreviations
Exhibit 135: List of abbreviations
About Us
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
