Trending

Stories

Tech Platforms to Lead India Car Services, Repair Market to $25 bn.

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Driven by online tech platforms, the car services and repairs market is expected to reach $25 billion by 2030 from $8 billion in 2020 (growing at a CAGR of 12 percent) in the country, a new report showed on Monday.

The share of the online segment is also expected to increase from 1 percent in CY20 to 15 percent by CY30 as online tech platforms accelerate the focus on digitizing the entire journey of car ownership right from car search, car purchase, car finance, and car insurance to sales in India.

Also Read

The personal vehicle market has seen an accelerated growth trajectory post-Covid in the last 12 months, according to the report by Bengaluru-based market research firm RedSeer.

The sales of passenger vehicles have recovered to 140 percent in Q1 CY21 compared to Q1 CY20.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

This increasing demand for passenger vehicles is leading to the growth of used cars.

“Currently, the used-to-new car sales ratio is 38 percent lower than the global average which means there is a significant headroom for growth,” the report noted.

With innovative ideas disrupting the sector, India’s used car market is bound to see significant growth in the coming years.

“The growth in passenger vehicles is driven by the limited availability of public transport post-Covid and increased safety and hygiene concerns leading to a shift from shared mobility solutions,” the report mentioned.

The study showed that the new-age platforms which are focusing on digitizing a customer’s entire journey see a higher NPS when compared to offline channels.

“Further, as the digital adoption grows especially in smaller towns and cities, this trend will continue to grow further”.

The Indian car services and repairs market is currently quite fragmented. Still, tech platforms are building out quality and affordable solutions in this segment by offering services such as doorstep pick-up and drop low-cost service and post-service warranty to customers.

Tech platforms are also providing service workshops with genuine and affordable spare parts, tech-led demand generation, and efficient logistics support resulting in higher margin and increase in footfall, the report mentioned.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS Nothing Phone Enters US with Beta Membership Program
Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend Redmi Note12 Pro Plus Launched in India POCO C50 Launched in India