Software known as an automotive dealer management system is used to organise and manage client information, vehicle pricing, part details, warranty claims, and other related information. The ERP and CRM programmes are combined in these software solutions. In addition to maintaining records of sales and associated services, the automotive dealer management system can also be used to manage after-sale customer services. Dealers and sales professionals can provide the greatest services for their consumers, which will increase sales, with the help of maintaining car inventory, sales, and custom grievances.
Global Automotive Dealer Management System Market Driving Factors and Challenges
Recent times have seen a surge in consumer demand for both personal and commercial vehicles, driven by increased disposable income. This has led to a growing automotive sales market. To address the challenges of managing scattered sales data and dealership operations, the use of automotive dealer management systems has become increasingly convenient, promoting better customer relationships. The global automotive dealer management system market is expected to grow significantly in the next years due to the rising need for effective and efficient vehicle management.
Technological advancements, particularly in CRM and ERP, enable dealers to monitor sales, part replacements, warranty claims, customer feedback, and business intelligence, ultimately enhancing sales and market competitiveness. Additionally, increased investment in technology and the shift to cloud-based solutions further drive market growth. Moreover, around fifty percent of individuals worldwide opt to purchase pre-owned vehicles. In light of the needs of the consumer and the surrounding circumstances, the used car dealer management system makes distinctions and offers guidance. In addition, the dealer management system helps dealerships optimise their profits in this area, makes remarketing easier, and provides insights into the used car market.
Automobile dealer management systems are sometimes costly and offer few customising choices. Thanks to technological advancements, modern car dealer administration systems are being tailored for online and mobile platforms. Automotive dealer management systems also allow real-time analytics and smart features. However, these capabilities might be expensive, which limits their adoption and hinders the sector.
Impact of COVID-19 on Global Automotive Dealer Management System Market
The COVID-19 epidemic that struck the world in 2020 caused several lockdowns and business disruptions, including the closing of auto dealerships. The market for dealer management systems grew less rapidly as a result of this. Even yet, the U.S. government allowed several U.S. state dealerships to carry on with their operations by designating them as vital enterprises, especially in the transportation industry. Confirming this exception is the National Automobile Dealers Association (NADA). Disruptions in industrial growth could lead to economic setbacks for North America, a region renowned for its technological innovations and innovation-driven policies. The COVID-19 pandemic had a significant impact on businesses and resulted in lockdowns in several nations throughout the globe.
Automotive Dealer Management System Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Autosoft Inc., Blue Sky Business Solutions Inc., CDK Global LLC, COGXIM Softwares Pvt. Ltd., Cox Automotive Inc., Dominion Enterprises, Epicor Software Corporation, Gateway DMS Pty. Ltd., International Business Machines Corporation, LLC dba Internet Brands, Motility Software Solutions, PBS Systems, Quorum Information Technologies Inc., Ramco Systems Limited, SAP SE, Solera Inc., Wipro Limited, Others.
Global Automotive Dealer Management System Market Segmentation:
By Component: Based on the Component, Global Automotive Dealer Management System Market is segmented as; Solution, Service (Managed Services, Professional Services.
By Deployment: Based on the Deployment, Global Automotive Dealer Management System Market is segmented as; Cloud-Based, On-Premise.
By Application: Based on the Application, Global Automotive Dealer Management System Market is segmented as; Customer Relationship Management, Dealer Tracking, Finance, Inventory, Sales, Others.
By End User: Based on the End User, Global Automotive Dealer Management System Market is segmented as; Automotive Rental Services, Dealership Repair Shops, New Automotive Dealer, Used Automotive Dealer, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.