- Increasing demand for dealer management systems by the automotive sector has gained popularity within recent years.
- Dealer management systems offer real-time information which results in generating more profit.
- China accounts for the largest market share in the region due to continuous innovation and the rise in the number of vendors.
According to a new market research report published by Credence Research, the global dealer management systems market is expected to register a market value of $11.60 Bn in 2027 and is set to grow with a CAGR of 7.60 % during 2019 – 2027.
Increasing demand for dealer management systems by the automotive sector has gained popularity within recent years due to features offered by it such as sales and financial management, inventory management and others. These features allow companies and manufacturers to maintain their work process systematically.
Moreover, manufacturers deploy dealer management systems to advance dealer operations, inventory management, and remote help desk. The dealer management system platform permits business owners to supervise dealership operations more efficiently and allows them to make strategic enhancements in their workflow.
Based on the applications, the dealer management systems market has been segmented as transportation & logistics, fleet management, construction, oil & gas, mining, agriculture, others. The fleet management segment accounts for the largest market share based on the application segment due to the early adoption of the dealer management systems platform by companies.
Moreover, companies are using these system platforms and services to improve their current working and to keep a tap on financial and sales progress. Dealer management systems also offer real-time information which results in generating more profit. The transportation and logistics segments are expected to be the fastest-growing segment during the forecast period due to the increasing adoption of dealer management systems by the automotive industries.
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Asia-Pacific is expected to be the fastest-growing region for the dealer management systems market during the forecast period due to increasing urbanization and rising adoption of new technologies by the industrial verticals and users in the region.
Increasing demand for dealer management systems from companies and manufacturing units associated with automotive, oil & gas, construction and agriculture industry is expected to drive the market in the region. China accounts for the largest market share in the region due to continuous innovation and the rise in the number of vendors is driving the growth of the market.
Some of the prominent players operating in the market are Ideal Computer Systems, Velosio, Gemini Computer Systems, Irium Software, Adam Systems, Quorum Information Technologies, BiT Dealership Software, CDK Global, Blue Skies Business Solution, Dealertrack, Excellon Software, Elva DMS, The Reynolds and Reynolds Company, and XAPT Corporation.