Driving the Future : Navigating the Online Car Buying Market Surge, Envisioning a $722.79 Billion Landscape by 2030

OREGAON, PORTLAND, UNITED STATES , November 27, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global online car buying market generated $237.93 billion in 2020, and is expected to garner $722.79 billion by 2030, witnessing a CAGR of 12.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, value chain, key segments, regional scenario, top investment pockets, and competitive landscape.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/10432

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
In 2020, by vehicle type, the SUV segment generated the highest revenue.
In 2020, by propulsion type, the petrol segment was the highest revenue contributor.
In 2020, by category, the pre-owned vehicle segment was the highest revenue contributor.
In 2020, region-wise, North America contributed the highest revenue, followed by Europe, Asia-Pacific, and LAMEA.

Focus of OEMs on end-to-end online sales, availability of third-party online marketplaces, and surge in demand for off-lease cars & subscription services drive the growth of the global online car buying market. However, lack of regularization and unorganized car sales hinder the market growth. On the other hand, adoption of e-commerce and online technologies, concerns regarding high upfront cost of new vehicles and affordability, and demand for car-sharing services create new opportunities in the coming years.

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐟𝐟𝐞𝐫𝐬 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐨𝐧𝐥𝐢𝐧𝐞 𝐜𝐚𝐫 𝐛𝐮𝐲𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, 𝐜𝐚𝐭𝐞𝐠𝐨𝐫𝐲, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧.

Based on vehicle type, the SUV segment contributed to the highest market share in 2020, accounting for more than one-third of the total share, and is estimated to maintain its leadership status during the forecast period. However, the sedan segment is projected to witness the highest CAGR of 13.7% from 2021 to 2030.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/online-car-buying-market/purchase-options

Based on category, the pre-owned vehicle segment held the largest share in 2020, contributing to around 88% of the global online car buying market, and is expected to continue its dominant share during the forecast period. However, the new vehicle segment is projected to portray the largest CAGR of 19.1% from 2021 to 2030.

Based on region, North America accounted for the highest share in 2020, contributing to nearly half of the total market share, and is expected to maintain its leadership status by 2030. However, LAMEA is estimated to manifest the fastest CAGR of 15.4% during the forecast period.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Asbury Automotive Group, Inc.
AutoNation, Inc.,
Cargurus, Inc.,
CarsDirect,
Cars.com, Inc.,
Cox Automotive Inc.,
Group1 Automotive Inc.,
Hendrick automotive group,
Lithia motors, Inc.
TrueCar, Inc.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/10432

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨 𝐨𝐧 𝐎𝐧𝐥𝐢𝐧𝐞 𝐂𝐚𝐫 𝐁𝐮𝐲𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭:
Owing to lockdown measures implemented during the Covid-19 pandemic, showrooms were closed and offline purchase activities dropped significantly. This led to increased online penetration.

Many dealers and distributors have been benefited from their operational online portals; while some of them built online portals as penetration grew.

The online car buying market for pre-owned cars is estimated to grow in some regions during the pandemic, due to a decline in overall income and rise in preference for private cars to maintain social distancing.

𝐖𝐞 𝐇𝐚𝐯𝐞 𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
https://www.alliedmarketresearch.com/car-buying-process-market-A10760 - Car Buying Process Market
https://www.alliedmarketresearch.com/automotive-after-market - Automotive Aftermarket
https://www.alliedmarketresearch.com/passenger-car-accessories-aftermarket-market-A06108 - Passenger Car Accessories Aftermarket
https://www.alliedmarketresearch.com/used-truck-market-A10181 - Used Truck Market
https://www.alliedmarketresearch.com/used-bike-market-A09641 - Used Bike Market

David Correa
Allied Market Research
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