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Automotive Subscription Services Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026

  • Published: Jul 2022
  • Pages: 140
  • SKU: IRTNTR41296
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The automotive subscription services market share is expected to increase by USD 4.95 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 22.8%.

This automotive subscription services market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive subscription services market segmentation by distribution channel (OEMs and dealerships or third party) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The automotive subscription services market report also 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, and Zoomcar India Pvt. Ltd. among others.

What will the Automotive Subscription Services Market Size be During the Forecast Period?

Automotive Subscription Services Market Size

Download Report Sample to Unlock the Automotive Subscription Services Market Size for the Forecast Period and Other Important Statistics

 

Automotive Subscription Services Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been an impact on the market growth during and post-COVID-19 era. The increasing smartphone and internet penetration is notably driving the automotive subscription services market growth, although factors such as high maintenance costs for service providers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the automotive subscription services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Subscription Services Market Driver

One of the key factors driving growth in the global automotive subscription services market is increasing smartphone and internet penetration. Internet and smartphone penetration enables consumers to use online on-demand automotive subscription services with maximum share stemming. This allows manufacturers to expand their business by partnering with various stakeholders in the industry, such as dealers/third-party service providers and software aggregators, and establish their automotive subscription services. Moreover, increased internet connectivity, growing adoption of smartphones, and rising consumer awareness have contributed to the growth of e-automotive subscription services, thereby driving the demand for automotive subscription services globally. In addition, the rise in smartphone adaptability and access to the web domain has helped consumers book cars online through their mobile applications or any other platform offered by market players. People opt for automotive subscription services through mobile applications to commute for convenience rather than cost-effectiveness. Therefore, the convenience provided by the online platform and increasing awareness among consumers due to easy access to services through mobile phones are expected to drive the growth of the market during the forecast period.

Key Automotive Subscription Services Market Trend

The development of new mobility concepts is another factor supporting the global automotive subscription services market growth. To cater to the increasing demand for more flexible and sustainable transport systems, leasing companies are offering mobility systems. The new mobility concept helps in maximizing environmental compatibility and offers smart traffic management solutions. Therefore, enterprises are incorporating new mobility concepts with their automotive subscription services. Moreover, leasing companies depend on new technologies, such as integrated ticketing, smartphone applications, and in-car communications to create a package that offers customers the best possible choices for completing the ride. Subscription services have also been driving innovation in many other ways. Telematics was first introduced in subscribed vans to monitor their usage on the job. This has become increasingly popular as it helps companies to improve the efficiency and performance of their employees. Therefore, the rising provision of advanced systems and features by service providers will lead to an increase in the demand for automotive subscription services during the forecast period.

Key Automotive Subscription Services Market Challenge

High maintenance costs for service providers will be a major challenge for the global automotive subscription services market during the forecast period. High prices of testing and inspection create issues for service providers, as maintenance may have to be performed periodically. Furthermore, changes in government regulations and standards in the automotive industry directly affect car maintenance, the design of components, and safety features. As a result, these regulations generally increase costs for vendors. However, several laws, such as emission laws, affect a vendor's overall profit. As a result, many components of vehicles will have to be changed according to alterations in regulations and standards. Components such as catalytic converters, designed to reduce car emissions, are expensive to develop, test, and mass-produce. Moreover, as vehicles are exported to different countries, the regulations of other countries should be considered as well. This adds to services' cost and hampers the design process, as different criteria have to be met for a vehicle to be street-legal in different parts of the world. As these costs are included in the subscription fee, it is difficult for vendors to maintain their profit margins, which is expected to restrict the growth of the market during the forecast period.

This automotive subscription services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive subscription services market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive subscription services market during the forecast period.

Who are the Major Automotive Subscription Services Market Vendors?

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.

 

This statistical study of the automotive subscription services market encompasses successful business strategies deployed by the key vendors. The automotive subscription services market is fragmented and the vendors are deploying growth strategies such as providing vehicles at minimum automotive subscription services to customers to compete in the market.

Product Insights and News

  • volvogroup.com - AB Volvo is a public company headquartered in Sweden. It is a global company generating USD 41.13 billion in revenues and has around 95,850 employees. Its revenue from the global automotive subscription services market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
  • volvogroup.com - The company offers automotive subscription services which are designed to provide maintenance, protection for tires, and wheels, and also cover insurance coverage. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive subscription services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Subscription Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive subscription services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Subscription Services Market?

Automotive Subscription Services Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

47% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for automotive subscription services in North America. Market growth in this region will be faster than the growth of the market in the European region.

A rise in automotive prices and regulations in the region will facilitate the automotive subscription services market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 negatively impacted the growth of the automotive subscription services market in North America in 2020. The imposition of lockdowns led to the temporary shutdown of manufacturing units of automobiles in H1 2020. The initiation of the COVID-19 vaccination drives and the restoration of supply chain activities stabilized the growth of the market in H1 2021. Nonetheless, several automobile vendors are adopting different strategies to overcome the challenges caused by the COVID-19 crisis. For example, automotive subscription services for B2B customers are increasing in Mexico. As Mexico is one of the top holiday destinations in North America, the acquisition is expected to help in maximizing the automotive subscription service options for various cars, including luxury cars. Therefore, such strategies are anticipated to potentially boost the growth of the subscription services market in North America during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the Automotive Subscription Services Market?

Automotive Subscription Services Market Share

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The automotive subscription services market share growth by the segments. OEMs segment will be significant during the forecast period. Under this model, customers pay a monthly subscription fee to OEMs for access to several vehicles in its model lineup. In addition, the monthly fee covers insurance, maintenance, and roadside assistance. Such subscription service launches by established OEMs will help accelerate the growth of the global automotive subscription services market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive subscription services market size and actionable market insights on the post-COVID-19 impact on each segment.

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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

USD 4.95 billion

Market structure

Fragmented

YoY growth (%)

14.73

Regional analysis

North America, Europe, APAC, South America, the 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

Key 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 recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Automotive Subscription Services Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive subscription services market growth during the next five years
  • Precise estimation of the automotive subscription services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive subscription services industry across North America, Europe, APAC, South America, the Middle East, and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive subscription services market vendors

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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

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Automotive Subscription Services market growth will increase by $4953.19 million during 2022-2026.
              The automotive subscription services market is expected to grow at a CAGR of 22.8% during 2022-2026.
              Technavio has segmented the automotive subscription services market by distribution channel (OEMs and Dealership/third party) and geographic (North America, Europe, APAC, South America, and Middle East and Africa).
              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. are a few of the key vendors in the automotive subscription services market.
              North America will register the highest growth rate of 47.04% among the other regions. Therefore, the automotive subscription services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the automotive subscription services market growth are:
              • Increasing smartphone and internet penetration
              • Development of new mobility concepts
              The automotive subscription services market vendors should focus on grabbing business opportunities from the oems segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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