The automotive industry is set to observe a booming demand for aftermarket parts, primarily attributed to consumer desire for maximizing vehicle lifetime value through scheduled servicing and preventive maintenance. With 3D printing, telematics, and e-Commerce emerging as the foundation for evolution of the aftermarket sales channel, the shift towards integrating aftersales services into a singular digital platform is gaining rapid traction. As the aftermarket carves its way into the e-Commerce space, the preeminence of brick & mortar stores is being swayed by the online sales build-up, with performance chemicals, batteries, and motor oil being top-selling categories.
Stakeholders in the automotive aftermarket who embrace data monetization are likely to realize enhanced customer accessibility, comprehensive product and service portfolios, and widened B2B networks. The development of novel applications for leveraging data collection from on-road vehicles is further expected to craft pathways for data monetization, with various service providers directing their efforts towards providing innovative predictive maintenance solutions.
Fact.MR’s analysts impart intricate assessments on the automotive aftermarket size potential, major exemplars, and impact of mega trends across lucrative as well as emerging markets, worldwide. The relative lag in replacement rates in developed markets has prompted aftermarket participants to discern expansion potential in emerging economies such as Eastern Europe, China, and India.aterials
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