What Is The Current and Historic Market Size Analysis Of The Auto Dealership CRM Software Market?
The auto dealership crm software market has seen considerable growth due to a variety of factors.
• The market for auto dealership CRM software has experienced substantial development in the past few years. The market is projected to rise from $6.13 billion in 2024 and hit $6.79 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.8%.
Factors such as advanced vehicle technology, increasing customer demands, and transitions within the insurance industry contributed to this historic period growth.
What are the Market Size and Expected Growth Rates for the Auto Dealership CRM Software Market?
The auto dealership crm software market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the auto dealership CRM software market is anticipated to experience robust growth. Its value is predicted to escalate to $9.58 billion by 2029, progressing at a compound annual growth rate (CAGR) of 9.0%.
This growth during the prediction period may be linked to the use of artificial intelligence (AI), the prevalence of electric and self-driving vehicles, a focus on environmental sustainability, the worldwide extension of the automotive aftermarket, and an increased concentration on customer experience. Key trends during this period include the incorporation of AI and machine learning, cloud-based services, improved mobile solutions, data analytics for enhancing performance, and regulatory compliance and standardization.
Which Key Drivers Are Propelling The Auto Dealership CRM Software Market's Growth?
The expansion of the automotive industry is anticipated to drive the growth of the auto dealership CRM software market in the future. The automotive industry encompasses a variety of companies and organizations that design, develop, manufacture, market, sell, repair, and modify motor vehicles. Auto dealership CRM software is employed in the automotive sector to offer a more tailored and effective customer experience, resulting in higher satisfaction and loyalty. For example, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, the number of passenger cars sold in the UK soared by 25.8% from 140,958 units in 2022 to 177,266 units in 2023 in June 2023. Thus, the expanding automotive industry is propelling the growth of the auto dealership CRM software market.
What Are The Key Segments Within The Global Auto Dealership CRM Software Market?
The auto dealership crm software market covered in this report is segmented –
1) By Type: Cloud-Based, On-Premises
2) By Functionality: Sales And Lead Management, Customer Service And Support, marketing Automation, Inventory Management
3) By Application: Small And Medium Enterprises (SMEs), Large Enterprises
Subsegments:
1) By Cloud-Based: Subscription Services, Tiered Pricing Plans
2) By On-Premises: One-Time Purchase Licenses, Annual Maintenance Contracts
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What Emerging Trends Are Influencing The Growth Of The Auto Dealership CRM Software Market?
Leading businesses in the auto dealership CRM software industry are putting their efforts into developing novel solutions, like advanced CRM technology equipped with AI-response capabilities, in order to outperform their competitors. This updated CRM system, embedded with AI features, merges customary CRM functionalities with breakthrough AI technology to robotize tasks, customize interactions, and enhance customer involvement. To exemplify, Space Auto, a USA-originated CRM software supplier for automotive dealerships, unveiled the first-ever integrated CRM solution for retail automotive in May 2023. The solution traces the entire customer journey from the initial click to the final closure, applying AI-response capabilities for personalized conversations with car buyers. This is an absolute innovation in the automotive retail sector that applies lessons learned from GPT-4. It offers quick and data-supported recommendations to dealerships derived from comprehensive customer conversations and additional data points gathered from the Space Auto CRM, such as stock levels, deal activities, online retail, and customer web surfing data. By using this revolutionary tool, sales professionals can promptly and accurately select AI-recommended text or email responses, which supply customers with necessary information. Consequently, it lets the dealership respond to queries promptly and effectively.
Who Are the Key Players In The Auto Dealership CRM Software Market?
Major companies operating in the auto dealership CRM software market report are:
• Salesforce Inc.
• Oracle NetSuite ERP
• Reynolds and Reynolds
• Selly Automotive
• CDK Global
• DealerSocket
• Zoho CRM
• Dealertrack
• ELEAD1ONE
• Freshsales
• Dominion Dealer Solutions
• Freshdesk
• PBS Systems
• VinSolutions
• Creatio CRM
• Izmocars
• Elead CRM
• ProMax
• MAM Software
• Xtime
• LivePerson Automotive
• DealersLink
• Datacar CRM
• Quorum DMS
• myKaarma
• AutoLoop
• AutoRaptor
• Vital Software
• AutoMate DMS
• Fortellis Automotive Exchange
What Are The Regional Insights Into The Auto Dealership CRM Software Market?
Asia-Pacific was the largest region in the auto dealership CRM software market in 2024. The regions covered in the auto dealership CRM software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
