The dealer management system streamlines interactions between the customers, dealers, and OEMs. The system supports the unique needs of the retail automotive industry. It facilitates the sale of new and used vehicles, repair and maintenance services, consumer financing, and vehicle and parts inventory management. Besides, it allows financial reporting, cash flow management, and payroll services. The system incorporates with OEM data processing systems and allow automotive retailers to order vehicles and parts, process warranties, and receive vehicle records. Thus, heavy adoption of innovative dealer management systems in the automotive industry is propelling the market growth.
North America region is severely affected by the COVID-19 pandemic. North America is one of the most important regions for adopting and developing new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region negatively. The global pandemic has resulted in lockdown, which ravaged businesses across the region and forced the auto dealerships to suspend operations. Auto dealers work on a dealer management system to get data updated in real-time. Thus, due to the closed business of dealers, the market for dealer management systems slightly affected in 2020. However, amidst the lockdown in the US, dealership services were opened in certain states of the country, as stated by Forbes. The auto dealers took permission from the US government to run the business during the pandemic since it is one of the crucial businesses, especially in the transport industry. As per the National Automobile Dealers Association (NADA), the US government allowed the auto dealership business. Since auto dealers were back in business, the demand for the system upsurges in the region. The market players manage to offer their solutions remotely even in the pandemic. The impact of COVID-19 is short-term; it is likely to decrease in the coming months.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America dealer management system market. The North America dealer management system market is expected to grow at a good CAGR during the forecast period.| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 2,678.07 Million |
| Market Size by 2027 | US$ 3,438.70 Million |
| Global CAGR (2020 - 2027) | 5.3% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |