Auto Dealership CRM Software Global Market Report 2024

The auto dealership CRM software market size has grown rapidly in recent years. It will grow from $5.52 billion in 2023 to $6.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth observed in the historical period can be attributed to factors such as the increasing complexity in vehicle technology, rising consumer expectations, and the evolution of the insurance industry.

The auto dealership CRM software market size is expected to see strong growth in the next few years. It will grow to $8.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of artificial intelligence (AI), the surge in electric and autonomous vehicles, a heightened focus on environmental sustainability, the global expansion of the automotive aftermarket, and an increased emphasis on customer experience. Key trends expected in the forecast period encompass the integration of AI and machine learning, the adoption of cloud-based solutions, the enhancement of mobile solutions, the utilization of data analytics for performance optimization, and a focus on regulatory compliance and standardization.

The burgeoning automotive industry is poised to drive the expansion of the auto dealership CRM software market in the foreseeable future. Spanning a spectrum of companies and organizations engaged in various facets including design, manufacturing, marketing, and sales of motor vehicles, the automotive sector serves as a pivotal domain for this software's application. Auto dealership CRM software plays a crucial role within this sector by facilitating personalized and efficient customer experiences, thereby fostering heightened satisfaction and loyalty. For instance, in June 2023, as outlined by the Society of Motor Manufacturers and Traders (SMMT), passenger car sales in the UK surged by 25.8% from 140,958 units in 2022 to 177,266 units in 2023, underscoring the impetus provided by the expanding automotive industry to the auto dealership CRM software market.

Leading players in the auto dealership CRM software market are channeling their efforts towards the introduction of innovative solutions, including advanced CRM technology integrated with AI-generated responses, aimed at gaining a competitive advantage. Advanced CRM technology enhanced with AI-generated responses amalgamates traditional CRM functionalities with artificial intelligence capabilities to automate tasks, personalize interactions, and enhance customer engagement. For instance, in May 2023, Space Auto, a US-based provider of CRM software for automotive dealerships, unveiled the inaugural unified CRM system for retail automotive, meticulously tracking the entire customer journey from initial click to closure. Leveraging AI-generated responses, this groundbreaking system pioneers personalized interactions for car shoppers, harnessing the insights gleaned from GPT-4's advancements. Offering swift, data-driven recommendations to dealerships based on comprehensive customer interactions and additional data points from the Space Auto CRM, such as inventory details, deal activity, and digital retailing statistics, this innovative tool empowers sales personnel to promptly and accurately select AI-suggested text or email responses. Consequently, customers receive pertinent information promptly, enabling dealerships to address inquiries with agility and efficacy, thereby elevating their responsiveness and impact in the market.

In June 2022, AutoManager Holdings Group LLC, a leading US-based provider of dealer management systems for independent auto dealerships, merged with Selly Automotive for an undisclosed sum. As part of this transaction, AutoManager provided Selly with a growth investment aimed at facilitating workforce expansion and product development initiatives. The merger is anticipated to enhance AutoManager's software offerings while fostering numerous synergies across engineering, sales, and marketing functions. Selly Automotive, a US-based full CRM (Customer Relationship Management) or ILM (Internet Lead Management) platform, empowers auto dealers to effectively manage Internet leads and customer follow-ups.

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.

Asia-Pacific was the largest region in the auto dealership CRM software market in 2023. 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. The countries covered in the auto dealership crm software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Auto dealership CRM software is a specialized customer relationship management solution tailored for car dealerships to efficiently handle customer interactions, streamline sales processes, and bolster customer relationships. This software empowers dealerships to effectively manage customer interactions, coordinate sales operations across multiple channels, and cultivate more profound customer connections.

The primary classifications of auto dealership CRM software are cloud-based and on-premises. Cloud-based auto dealer CRM software is a customer relationship management solution explicitly crafted for the automotive industry and hosted in the cloud. It encompasses various functionalities, including sales and lead management, customer service and support, marketing automation, and inventory management. These functionalities find application in various settings, catering to both small and medium enterprises (SMEs) and large enterprises within the automotive industry.

The auto dealership CRM software market research report is one of a series of new reports that provides auto dealership CRM software market statistics, including auto dealership CRM software industry global market size, regional shares, competitors with a auto dealership CRM software market share, detailed auto dealership CRM software market segments, market trends and opportunities, and any further data you may need to thrive in the auto dealership CRM software industry. This auto dealership CRM software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The auto dealership CRM software market includes revenues earned by entities by providing contact database management, lead tracking, inventory control, lease management, and appointment scheduling. The market value includes the value of related goods sold by the service provider or included within the service offering. The auto dealership CRM software market also includes sales of server hardware, laptops, tablets, and smartphones. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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