At 9.9% CAGR, North America Automotive Dealer Management System (DMS) Market is Projected to be Worth US$ 3,277.36 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America automotive dealer management system (DMS) market was valued at US$ 1,541.18 million in 2023 and is expected to reach US$ 3,277.36 million by 2031, registering a CAGR of 9.9% from 2023 to 2031. Integration of generative AI in dealer management business and advent of autonomous vehicles are among the critical factors attributed to drive the North America automotive dealer management system (DMS) market growth.

The automotive industry is experiencing a data revolution, and multi-outlet dealerships are at the forefront of this change. With many sites around the city, dealerships confront particular issues in maintaining client relationships, streamlining operations, and remaining competitive. Generative AI emerges as an effective tool, allowing dealerships to leverage the potential of data while navigating the hurdles of maintaining a distributed network. Multi-outlet car dealerships must gather extensive information from industry professionals in order to make sound judgments. Generative AI can automatically collect and combine data from many sources across all channels, including sales, service, and CRM systems, resulting in a single repository for thorough analysis. By evaluating client interactions across many contact points such as website visits, service appointments, and test drives, AI can spot patterns and forecast user movement between outlets and service workshops. This allows dealers to tailor messages as per the customer needs and offers along the customer experience.

In May 2024, Izmocars, a leading provider of innovative solutions for the automotive industry, announced the launch of ReviewSoda, a groundbreaking AI-powered review response platform designed specifically for auto dealers. ReviewSoda automates the review management process by sending customized invitations for feedback and responding to Google reviews in real time. The platform ensures that each response is unique, tailored, and timely, thus eliminating generic and repetitive responses that customers can easily spot and dislike. By addressing positive and negative reviews, ReviewSoda helps businesses build a stronger online presence and improve customer satisfaction. Hence, such strategic initiatives are expected to offer new trends for the market growth.

On the contrary, growing data security concerns hampers the growth of North America automotive dealer management system (DMS) market.

Based on component, the North America automotive dealer management system (DMS) market is bifurcated into software and services. The software segment held 69.1% market share in 2023, amassing US$ 1,065.23 million. It is projected to garner US$ 2,323.06 million by 2031 to register 10.2% CAGR during 2023-2031.

In terms of application, the North America automotive dealer management system (DMS) market is segmented into inventory management, appointment scheduling, customer relationship management, dealer tracking, and others. The customer relationship management segment held 30.3% share of North America automotive dealer management system (DMS) market in 2023, amassing US$ 466.43 million. It is anticipated to garner US$ 967.16 million by 2031 to expand at 9.5% CAGR during 2023-2031.

By deployment, the North America automotive dealer management system (DMS) market is divided into cloud-based and on-premise. The cloud-based segment held 76.5% share of North America automotive dealer management system (DMS) market in 2023, amassing US$ 1,178.66 million. It is projected to garner US$ 2,621.90 million by 2031 to expand at 10.5% CAGR from 2023 to 2031.

Based on country, the North America automotive dealer management system (DMS) market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.6% share of North America automotive dealer management system (DMS) market in 2023. It was assessed at US$ 1,227.12 million in 2023 and is likely to hit US$ 2,642.53 million by 2031, registering a CAGR of 10.1% during 2023-2031.

Key players operating in the North America automotive dealer management system (DMS) market are CDK Global Inc; Wipro Ltd; GaragePlug Inc; Autosoft, Inc; Aspire Systems; AutoManager; SECL Group Corporation; PBS Systems; SAP SE; Cox Automotive; Tekion Corp; Dealer Built; Dominion DMS LLC; Oracle Corp; Auto/Mate LLC; and Quorum Information Technologies Inc, among others.

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