Automotive Subscription Services Market to grow by USD 4.95, Increasing Smartphone And Internet Penetration to Boost Market Growth - Technavio

News provided by

Nov 18, 2022, 01:30 ET

NEW YORK, Nov. 18, 2022 /PRNewswire/ -- The "Automotive Subscription Services Market" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the automotive subscription services market between 2021 and 2026 is USD 4.95 billion at a CAGR of 22.8%. To get the exact yearly growth variance and the Y-O-Y growth rate, Download a Free Sample Report.

Automotive Subscription Services Market: Dynamics

Technavio has announced its latest market research report titled Global Automotive Subscription Services Market

Market Driver

The growing use of smartphones and the internet is one of the main factors propelling growth in the worldwide automotive subscription services market. Consumers can utilize online on-demand automotive subscription services with the highest share stemming due to the widespread adoption of smartphones and the internet. This enables manufacturers to develop their automotive subscription services and grow their business by collaborating with other industry players like dealers, third-party service providers, and software aggregators.
Additionally, the development of e-automotive subscription services has boosted internet connectivity, smartphone use, and customer awareness, which has increased the demand for automotive subscription services globally.

Market Challenges

The high service provider maintenance costs will provide a significant obstacle to the global market for automobile subscription services. High testing and inspection costs cause problems for service provider because the maintenance needs to be done on a regular basis. Changes in governmental standards and regulations also have a direct impact on safety features, component design, and maintenance requirements for automobiles. As a result, these requirements typically result in higher expenses for vendors.

To learn about additional key drivers, trends, and challenges available with Technavio. Read a Free Sample Report right now!

Automotive Subscription Services Market: Segmentation

By Distribution channel

OEMs

During the predicted period, the OEM segment will be substantial. In this concept, users pay OEMs a monthly membership fee in exchange for access to a number of the OEM's model lineup automobiles. The monthly charge also includes maintenance, roadside assistance, and insurance. During the projected period, such subscription service launches by reputable OEMs would aid in accelerating the growth of the global automotive subscription services market.

Dealerships or third party

By Geography

North America

North America will account for 47% of market growth. The two biggest markets in North America for automotive subscription services are the US and Canada. The market in this region will increase more quickly than the market in the European region. Over the projection period, an increase in regional regulations and auto pricing will support the expansion of the automotive subscription services market in North America.

Europe
APAC
South America
Middle East and Africa

Buy the sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Automotive Subscription Services Market: Vendors Insight

The global automotive subscription services market is highly competitive and has the presence of many well-established vendors. The market is mostly dominated by global and regional players. The vendors operating in the market have a wide portfolio of cars for rent and leasing, as well as provide electric cars from European, Japanese, Korean, and US manufacturers. In order to gain competitive advantages, prominent vendors have been continuously working on providing vehicles at minimum automotive subscription services to customers compared with their competitors.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

AB Volvo
Assurant Inc.
Bayerische Motoren Werke AG
Cox Automotive Inc.
Evogo Ltd
Exelon Corp
Flexdrive Services LLC
Freshcar
General Motors Co
Hertz Global Holdings Inc.
Hyundai Motor Co.
Mercedes Benz Group AG
Pinewoods technology services FZE
Prazo Inc
Tesla Inc.
Toyota Motor Corp.
Volkswagen AG
Wagonex Ltd
Zoomcar India Pvt. Ltd.

Get lifetime access to our Technavio Insights! Subscribe to our "Basic Plan" billed annually at USD 5000.

Related Reports:

Automotive Radiator Fan Market by Application and Geography - Forecast and Analysis 2022-2026: The report extensively covers the automotive radiator fan market segmentations by Application (Passenger cars, LCVs, and M&HCVs) and Geographic (APAC, Europe, North America, South America, and the Middle East and Africa).

Motorcycle Airbag Jacket Market by Product and Geography - Forecast and Analysis 2022-2026: The report extensively covers the motorcycle airbag jacket market segmentation by product (airbag vest and airbag jacket) and geography (Europe, North America, APAC, South America, and the Middle East and Africa.

Automotive Subscription Services Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 22.8%
Market growth 2022-2026	$4.95 billion
Market structure	Fragmented
YoY growth (%)	14.73
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 47%
Key consumer countries	US, Japan, Germany, UK, and France
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	AB Volvo, Assurant Inc., Bayerische Motoren Werke AG, Cox Automotive Inc., Evogo Ltd, Exelon Corp, Flexdrive Services LLC, Freshcar, General Motors Co, Hertz Global Holdings Inc., Hyundai Motor Co., Mercedes Benz Group AG, Pinewoods technology services FZE, Prazo Inc, Tesla Inc., Toyota Motor Corp., Volkswagen AG, Wagonex Ltd, and Zoomcar India Pvt. Ltd.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Distribution Channel

5.1 Market segments

Exhibit 24: Chart on Distribution Channel - Market share 2021-2026 (%)
Exhibit 25: Data Table on Distribution Channel - Market share 2021-2026 (%)

5.2 Comparison by Distribution Channel

Exhibit 26: Chart on Comparison by Distribution Channel
Exhibit 27: Data Table on Comparison by Distribution Channel

5.3 OEMs - Market size and forecast 2021-2026

Exhibit 28: Chart on OEMs - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on OEMs - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on OEMs - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on OEMs - Year-over-year growth 2021-2026 (%)

5.4 Dealership or third party - Market size and forecast 2021-2026

Exhibit 32: Chart on Dealership or third party - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Dealership or third party - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Dealership or third party - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Dealership or third party - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Distribution Channel

Exhibit 36: Market opportunity by Distribution Channel ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 38: Chart on Market share by geography 2021-2026 (%)
Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 40: Chart on Geographic comparison
Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 Germany - Market size and forecast 2021-2026

Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026

Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 Japan - Market size and forecast 2021-2026

Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026

Exhibit 78: Chart on France - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on France - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on France - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 85: Overview on factors of disruption

9.4 Industry risks

Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 87: Vendors covered

10.2 Market positioning of vendors

Exhibit 88: Matrix on vendor position and classification

10.3 AB Volvo

Exhibit 89: AB Volvo - Overview
Exhibit 90: AB Volvo - Business segments
Exhibit 91: AB Volvo - Key offerings
Exhibit 92: AB Volvo - Segment focus

10.4 Bayerische Motoren Werke AG

Exhibit 93: Bayerische Motoren Werke AG - Overview
Exhibit 94: Bayerische Motoren Werke AG - Business segments
Exhibit 95: Bayerische Motoren Werke AG - Key news
Exhibit 96: Bayerische Motoren Werke AG - Key offerings
Exhibit 97: Bayerische Motoren Werke AG - Segment focus

10.5 Cox Automotive Inc.

Exhibit 98: Cox Automotive Inc. - Overview
Exhibit 99: Cox Automotive Inc. - Product / Service
Exhibit 100: Cox Automotive Inc. - Key offerings

10.6 Flexdrive Services LLC

Exhibit 101: Flexdrive Services LLC - Overview
Exhibit 102: Flexdrive Services LLC - Product / Service
Exhibit 103: Flexdrive Services LLC - Key offerings

10.7 General Motors Co

Exhibit 104: General Motors Co - Overview
Exhibit 105: General Motors Co - Business segments
Exhibit 106: General Motors Co - Key news
Exhibit 107: General Motors Co - Key offerings
Exhibit 108: General Motors Co - Segment focus

10.8 Hyundai Motor Co.

Exhibit 109: Hyundai Motor Co. - Overview
Exhibit 110: Hyundai Motor Co. - Business segments
Exhibit 111: Hyundai Motor Co. - Key news
Exhibit 112: Hyundai Motor Co. - Key offerings
Exhibit 113: Hyundai Motor Co. - Segment focus

10.9 Mercedes Benz Group AG

Exhibit 114: Mercedes Benz Group AG - Overview
Exhibit 115: Mercedes Benz Group AG - Business segments
Exhibit 116: Mercedes Benz Group AG - Key offerings
Exhibit 117: Mercedes Benz Group AG - Segment focus

10.10 Tesla Inc.

Exhibit 118: Tesla Inc. - Overview
Exhibit 119: Tesla Inc. - Business segments
Exhibit 120: Tesla Inc. - Key offerings
Exhibit 121: Tesla Inc. - Segment focus

10.11 Toyota Motor Corp.

Exhibit 122: Toyota Motor Corp. - Overview
Exhibit 123: Toyota Motor Corp. - Business segments
Exhibit 124: Toyota Motor Corp. - Key news
Exhibit 125: Toyota Motor Corp. - Key offerings
Exhibit 126: Toyota Motor Corp. - Segment focus

10.12 Volkswagen AG

Exhibit 127: Volkswagen AG - Overview
Exhibit 128: Volkswagen AG - Business segments
Exhibit 129: Volkswagen AG - Key offerings
Exhibit 130: Volkswagen AG - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 131: Inclusions checklist
Exhibit 132: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 133: Currency conversion rates for US$

11.4 Research methodology

Exhibit 134: Research methodology
Exhibit 135: Validation techniques employed for market sizing
Exhibit 136: Information sources

11.5 List of abbreviations

Exhibit 137: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/

SOURCE Technavio