Automotive and Industrial.
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The global automotive eCommerce market size was USD 43.62 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with the automotive eCommerce industry witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 5.9% in 2020 as compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 51.04 billion in 2021 to USD 202.94 billion by 2028, exhibiting a CAGR of 21.8% during the forecast period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
The emergence of automotive e commerce offers significant new sales opportunities for OEMs, dealers, and other digital car sellers. The online shopping of automotive parts and components through third-party vendors such as Amazon.com, Inc., O’Reilly Auto Parts, and Alibaba Group Holding Limited is expected to show the fastest growth in this industry over the forecast period.