Report : North America Dealer Management System Market Forecast to 2030 - Regional Analysis - by Deployment (On-premise and Cloud) and Equipment Type (Automobile, Agricultural & Forestry Machinery, Construction Equipment, Gardening Equipment, Heavy Trucks, Material Handling & Lifting Equipment, Mining Equipment, and Others)
At 10.5% CAGR, North America Dealer Management System Market is Speculated to be Worth US$ 5,971.59 Million by 2030, says Business Market Insights
According to Business Market Insights research, the North America dealer management system market was valued at US$ 2,694.98 million in 2022 and is expected to reach US$ 5,971.59 million by 2030, registering a CAGR of 10.5% from 2022 to 2030. Growing technological advancements in automotive industry, rising demand for construction equipment, and increasing integration of DMS with different management systems are among the critical factors attributed to the North America dealer management system market expansion.
Over the past few decades, the automotive industry has experienced numerous technological advancements. The advent of digital technology across the globe made it possible for automobile makers to implement advanced solutions. The dealer management system is an optimal solution for companies working in the automobile sector that take part in spare parts inventory and work order management. The system incorporates customer relationship management (CRM) and business intelligence tools to track manufacturer and customer relationships. Several car dealers are also using this system to manage inventory and sales records. The dealer management system streamlines interactions between customers, dealers, and OEMs. The system supports the unique needs of the automotive retail industry. It facilitates the sale of new and used vehicles and includes various features such as repair and maintenance services, consumer financing, and vehicle and parts inventory management. The system also allows financial reporting, cash flow management, and payroll services. The system incorporates OEM data processing systems and allows automotive retailers to order vehicles and associated parts, process warranties, and receive vehicle records. All these features of a dealer management system is boosting its adoption in the automotive industry. Many companies are implementing inorganic and organic strategies to expand their dealer management system business in the automotive industry. For instance, in June 2023, HBS Systems, Inc. partnered with Record360 to accelerate the inspection process, reduce damage disputes, and manage their assets. With this partnership, Record360 efficiently improved equipment inspection processes by using HBS Systems, Inc.'s NetView ECO dealer management software. The system is used to add transparency to equipment rental transactions. In February 2020, Tekion Corp. rolled out a cloud-based platform with all the functionalities of a dealer management system-Automotive Retail Cloud. It connects major stakeholders of the industry, allowing them to maximize operational efficiencies, collaboration, and tailored retail experiences. Similarly, in January 2020, DealerSocket, Inc. announced the acquisition of Auto/Mate-a dealer management system provider for automotive dealerships. By merging Auto/Mate's robust dealer management system with DealerSocket's products, the company provides auto dealers with a unique platform where advanced software is coupled with the best services. In 2021, leading supplier of cloud-based technology solutions for auto dealerships, Dealertrack DMS, announced new integrations at the Cox Automotive Experience and NADA 2021 with the goal of assisting dealerships in becoming more productive and efficient in the current digital-first era. Thus, the growing technological advancements in the automotive industry boost the demand for dealer management systems, which drives the market.
On the contrary, growing data security concerns hampers the North America dealer management system market.
Based on deployment, the North America dealer management system market is bifurcated into on-premise and cloud. The cloud segment held 62.9% share of North America dealer management system market in 2022, amassing US$ 1,695.64 million. It is projected to garner US$ 4,304.60 million by 2030 to expand at 12.4% CAGR during 2022-2030.
In terms of equipment type, the North America dealer management system market is categorized into automobile, agricultural & forestry machinery, construction equipment, garden equipment, heavy trucks, material handling & lifting equipment, mining equipment, and others. The automobile segment held 46.5% share of North America dealer management system market in 2022, amassing US$ 1,253.87 million. It is projected to garner US$ 3,292.17 million by 2030 to expand at 12.8% CAGR during 2022-2030.
By country, the North America dealer management system market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.5% share of North America dealer management system market in 2022. It was assessed at US$ 2,142.78 million in 2022 and is likely to hit US$ 4,814.90 million by 2030, exhibiting a CAGR of 10.6% during 2022-2030.
Key players operating in the North America dealer management system market are e-Emphasys Technologies Inc., ANNATA Ehf, DealerBox SAS, Hitachi Solutions Ltd, XAPT Software Consulting LLC, CDK Global Inc, Cox Automotive, Constellation Software Inc, and Tekion Corp, among others.
- In August 2023, Tekion Corp partnered with Dealerware to automate repair order tracking by promoting self-service check-in to automotive dealers. The partnership supports Dealerware by integrating Tekion Corp's cloud-based dealer management system to streamline the entire automotive ecosystem. The system simplifies the overall service scheduling experience, including loaner vehicle reservations, and saves customers & service department employees time at check-in of vehicle.
- In May 2023, Tekion Corp partnered with Hyundai Auto Canada to integrate a cloud-based dealer management system in Hyundai Auto Canada's business operations. The system offers significant benefits to Hyundai Auto Canada by increasing efficiencies in fixed operations, streamlining staff training, improving communication across all departments, enabling a paperless service process, and elevating customer experience.
- In January 2023, Tekion Corp partnered with Inchcape to carry out due diligence and testing of the dealer management system. This supports dealers to use a cloud-based dealer management system for checking out cars and stock parts in real time by providing real-time service appointments. In addition, growing investments in CRM help the players maintain client relationships and gain new customers in the process.
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