The net worth of the total system adopted in the year 2022 reached around USD 8,200.5 million. Further analysis of the market trends by FMI reveals the dealer management system market is likely to capture a CAGR of 5.6% between the years 2023 and 2033. In a forecast report, the net market value is projected to reach USD 14,752.7 million by 2033 growing from USD 8,528.5 million in 2023.
The adoption of dealer management systems and services is expanding favorably as a result of real-time visibility, streamlined company processes, and engaging communication with consumers. Moreover, the growing requirement for better inventory management solutions, improved sales tracking, and enhanced CRM software is anticipated to boost their demand.
Recent technological advancements in dealer management systems such as artificial intelligence (AI) and complex data analytics algorithms can strengthen market products. Other advancements like improved commission and insurance calculation, and alike developments are anticipated to drive the emerging trends in this market.
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Recently, there has been an upsurge in the use of cloud-based applications in all sectors prompting established dealer management service providers to adopt it. Most suppliers now offer cloud-based solutions because of the growing demand for cloud-based software and solutions in all most all service sectors.
Key Takeaways from the Dealer Management System Market Study Report
- The United States dominates the global market as the market players in the country generated a revenue share of 16.5% in the year 2022. The North American region held an overall market share of an astounding 28.8% that year.
- The European market players together were able to garner a revenue share of only 22.3% in the year 2022. The demand for dealer management systems only in Germany contributed to a revenue share of 7.1% that year.
- In the Asia Pacific region, China and India hold maximum market opportunity and are projected to register 6.2% and 7.5% CAGRs respectively through 2033.
- Offerings for cloud-based solutions are more affordable than those for traditional on-premise solutions. Their excellent network infrastructure in industrialized nations could further encourage this segment.
Competitive Landscape for the Dealer Management System Market Players
Adam Systems, BiT Dealership Software, Blue Skies Business Solutions, CDK Global, and Dealertrack are a few leading players in the global dealer management system market. The market players are implementing both inorganic and organic methods for growing their businesses in the present world. Besides the automobile sector, they now also have a significant impact on the dealership of various other commodities.
Existing dealer management service providers want to spend extensively on cutting-edge software to quickly transition to new platforms with enhanced functionality. However, the emergence of some new market players with novel business models and service features could limit their market expansion in the coming days.
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Recent Developments by the Dealer Management System Service Providers
The cloud-based dealer management solutions are much more in demand nowadays and are expected to get adopted at a faster rate in the coming days. To assist service providers in maximizing profitability, the Integrated Dealer Systems (IDS) released a brand-new, cutting-edge mobile app named ‘IDS service mobile’ in 2020.
Tekion Corporation released its Automotive Retail Cloud services in February 2020, which is a digital platform with all the features of any dealer management system. It establishes extensive connections between key participants, enabling them to increase operational effectiveness, teamwork, and specialized retail network experiences.
Dealer Management System Market: Key Segments
By Deployment Type:
- On-Premises
- Cloud
By End User:
- Transportation and Logistics
- Agriculture
- Construction
- Oil & Gas
- Mining
- Marine
- Motor Sports
- Other End Users
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (ME&A)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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