The 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% during 2020–2027.
Numerous challenges regarding synchronization among workplaces, individuals, and administrative centers can get devastated to handle multi-facets of business, such as filing reports, fulfilling the requirements of demanding customers, and maintaining an inventory.With focus on customer connection and communication, several manufacturers are looking for integrated ways to manage their business.
This boosts the need to have systems that streamline and enhance interactions between the customers, dealers, and OEMs.Dealer management systems integrated with various features such as CRM, service management, spare part management, sales tracking, and inventory management features meet the dynamic demands of the modern manufacturing sector.
These systems capture data about customers, inventory, and products, and make inventory management more efficient.Besides, they aid visibility in dealer operations across different countries around the world.
Companies are emphasizing on integrating various advanced features into dealer management systems to offer enhanced customer experience. . In January 2021, DealerSocket, Inc. rolled out an all-new service scheduler that can be effortlessly incorporated in its CRM tool built to combine dealership sales and services in a shared mission to convert, acquire, and retain lifelong customers. Its CRM tool creates a broad view of a customer’s experience with the dealership while enabling advisors and service managers to manage customer interactions from one location. In February 2020, Reynolds and Reynolds, a US-based company, launched FOCUS, a dealership-wide CRM system optimized with mobile functionality for automotive retailers. The system ensures that dealers are maintaining a single database for preserving customer data to handle all dealership features. Thus, robust dealer management system integrated with different management systems enable dealers to seamlessly manage the operations of stages ranging from inventory management to product sales and servicing, thus driving the global market growth.
The COVID-19 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.
As per the National Automobile Dealers Association (NADA), the US government allowed the auto dealership business in pandemic.Since auto dealers were back in business, the demand for the system upsurges in the region.
The market players manage to offer their solutions remotely even in the pandemic.
Overall size of the dealer management system market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the dealer management system market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts, and key opinion leaders, specializing in the dealer management system market. ADAM Systems; Autosoft Inc.; Bit Dealership Software, Inc.; CDK Global, COX Automotive; DealerBuilt; Dominion Enterprises; e-Emphasys Technologies Inc.; Evopos; and Integrated Dealer Systems are among the players profiled during this market study.
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