Dealer Management System is anticipated to have CAGR of ~6.2% over 2019-2028. The dealer management system is basically a centralized application that can be used to collect customer and the inventory information. Furthermore, it covers a product’s pre-sales, sales, workflow automation, customer relationship management, and the financial accounting information. The increase in the transportation needs and the logistics which require dealer management system to keep a track on the automobile sector would help the industry to grow in the forecast period. The advancement such as in the innovation for cloud based systems for the transportation and logistics would help the market gain maximum revenue shares in the forecast period.
Top Driver: Increase in transportation needs and logistics to boost the industry
Dealer Management System is projected to grow with the increase in the transportation needs and logistics across various countries and is anticipated to grow further in the coming years. The surge in the exports and imports of the raw materials and the finished products across various regions to fulfill the deficit is expected to propel the growth of the industry during the forecast period. Furthermore, the surge in the disposable income and favorable government regulations has led the dealer’s management system to boost in the near future. The rise in the start-ups due to developing economies in the developed countries would help the industry the gain maximum revenue shares in the coming few years.
On-Premise to Make Crucial Contribution to Growth of Global Dealer Management System Market
Among deployment model segments of the global Dealer Management System market, on-premise segment is anticipated to grow at a higher pace, owing to the ease in the standard and traditional technique in order to protect the individual organizations from privacy breach. The need of the hour is to have safer and secure means of the data management that can be accessed only y the individual institution, which is provided by the on-premise, based deployment model and hence is expected to help the market flourish. The cloud based deployment models are anticipated to experience highest CAGR, owing to the assistance in storage provided and would help the industry to gain maximum revenue shares in the next few years.
Flourishing logistics to Benefit Asia-Pacific Market
Asia-Pacific is experiencing the highest revenue growth than any other country and is estimated to boost further in the coming years. Asia Pacific countries, especially the regions such as China, Japan, and India, are among the prominent regions facing growth due to the flourishing logistics business in the region. Additionally, the highly connected and also the advanced economies of Southeast Asian countries in combination with the surge in awareness regarding the dealer management systems is anticipated to gain higher revenue shares during the forecast period and would contribute to the growth. The global awareness created by the government initiatives and also the strict regulations are anticipated to boost the market growth.
Due to outbreak of COVID-19 the Dealer Management System is anticipated to experience a downfall, due to the lockout situation enforced by the government. The spread of Coronavirus disease-2 has led the majority of the companies to face losses and the transportation and logistics are also reduced. However, due to the surge in demand of the essentials has led to the growth of the segment in the current scenario.
Players to Focus on Dealer Management System
The global Dealer Management System market leaders include BiT Dealership Software, Inc., Blue Skies Business Solutions Inc., XAPT Corporation, Dealertrack, Inc., Elva DMS, Excellon Software Pvt. Ltd., Gemini Computer Systems Ltd, CDK Global, LLC, Ideal Computer Systems, Irium Software, PBS Systems, Inc., Quorum Information Technologies, Adam Systems, The Reynolds and Reynolds Company, and Velosio.
DealerSocket, Inc.,: In January 2020, DealerSocket, Inc., a leading provider of automotive software solutions, announced that the company had signed a definitive agreement to acquire Auto/Mate, a leading Dealer Management System (DMS) software provider for automotive dealerships. By bringing together Auto/Mate’s comprehensive DMS technology with DealerSocket’s suite of products, inventory management, and independent-focused DMS software solutions, the combined company will offer dealers an all-in-one, unique platform where innovative software is combined with best-in-class service.
CDK GLOBAL: In May 2017, CDK GLOBAL and Auto/Mate Dealership Systems announced that they have entered into a definitive agreement whereby CDK will acquire Auto/Mate, a privately held company that provides a suite of DMS (Dealer Management Systems) products and solutions to over 1000 new car dealership sites.
Quorum Information Technologies Inc.: In November 2018, Quorum Information Technologies Inc. announced that it has completed the arm’s-length acquisition of DealerMine Inc., DealerMine USA Holdings Inc., and DealerMine USA Inc. pursuant to a share purchase agreement between Quorum and Powerband Global Inc.
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