The "Dealer Management System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Deployment and Application" report has been added to ResearchAndMarkets.com's offering.
Growing advancement in automotive industry is expected to support dealer management system market growth during 2020-2027
Dealer Management System Market was valued at US$ 6,981.67 million in 2019 and is projected to reach US$ 10,028.30 million by 2027; it is expected to grow at a CAGR of 6.8% from 2020 to 2027.
Dealer management systems enable auto dealers to offer swift and reliable purchase processes and services to customers. Additionally, the system helps meet customer requirements by facilitating coordination between products and services, and ensuring the dealers are ready and equipped with the parts required for repairs; this simplifies the repair and maintenance services and inventory management process.
The dealership management systems also allow seamless financial reporting, payroll services, and cash flow management. The systems integrate a suite of the finest technologies such as customer relationship management (CRM), business intelligence and reporting, and inventory management.
They further assist auto dealers in enhanced customer conversions and customer retention, along with allowing them to maintain a remote help desk.
Impact of COVID-19 Pandemic on North America Dealer Management System Market
North America is at the forefront of adopting and developing new technologies, mainly due to favorable government policies to boost innovations, presence of a huge industrial base, and high purchasing power of people, especially in developed countries such as the US and Canada.
Hence, any disruption in the growth of industries is expected to hamper the economic growth of the region. Presently, the US is the world's worst-affected country due to the COVID-19 outbreak.
The pandemic situation compelled many countries to impose lockdown in 2020, which ravaged businesses in these countries and lead to the discontinuation of auto dealership operations. Dealer management systems help auto dealers to stay updated regarding the current market trends and changes.
Thus, slump in the businesses of dealers also slightly hindered the growth of the dealer management systems market in 2020.
However, as stated by Forbes, despite these conditions, dealerships in certain US states continued their operations, with formal permission from the US government to run the business during the pandemic as it is one of the crucial businesses, especially for the transport industry.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Dealer Management System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Dealer Management System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Advancements in Automotive Industry
5.1.2 Increasing Integration of Different Management Systems
5.2 Market Restraints
5.2.1 Growing Security Concerns
5.3 Market Opportunities
5.3.1 Advent of Autonomous Vehicles
5.4 Future Trends
5.4.1 Integration of Artificial Intelligence to Revolutionize Dealer Management Business
5.5 Impact Analysis of Drivers and Restraints
6. Dealer Management System Market - Global Analysis
6.1 Dealer Management System Market Global Overview
6.2 Dealer Management System Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Dealer Management System Market Analysis - By Deployment
7.2 Dealer Management System Market, By Deployment (2019 and 2027)
8. Dealer Management System Market Analysis - By Application
8.2 Dealer Management System Market, By Application (2019 and 2027)
9. Dealer Management System Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Dealer Management System Market
11. Industry Landscape
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
Bit Dealership Software, Inc.
e-Emphasys Technologies Inc.
Integrated Dealer Systems
For more information about this report visit https://www.researchandmarkets.com/r/y82ek9
View source version on businesswire.com: https://www.businesswire.com/news/home/20210416005247/en/
Laura Wood, Senior Press Manager
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