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Next-Generation Dealer Portals Market Segmented By Dealership Management System (DMS), Single-Dealer Platform (SDP) and Auto dealership management system type with applications such as Integration of information, Delivery of information, Filling tax returns and Online shopping
Next-generation dealer portals is an auto dealership management system or dealership management system (DMS), which will be a form of bundled management information system that is created particularly for automotive industry. It is used by car dealers and even by large machinery manufacturers, such as Caterpillar Inc for their dealerships, and is also adapted by boats, cars, bikes, power sports dealers.
Next-generation dealer portals systems contain software that caters to the needs of sales, finance, inventory, parts and administration components to run the dealership, one of their functions also includes automating tax returns. Another form of next generation dealer portals is single-dealer platform (SDP), which is a software generally used by an investment bank.
This software deals in the capital markets to handle trading and related services through web. The main function of a single-dealer platform is to integrate liquidity, pricing, and information from multiple sources and provide access to these information through a single user interface. It is thus both a delivery platform and an integration platform.
Though, the term single-dealer platform is used to describe an etrading suite but it also refers to integration and connectivity layer, which sits on top pricing, trading, back end systems and risk management. Thus the next generation dealer portals is anticipated to have a healthy CAGR in the forecast period.
The flourishing automobile industry and the ease of customers to purchase the vehicles through car dealer portals is the key factor driving the next generation dealer portals market. Also the adaptability and awareness of online banking, the single user interface information availability benefits, and the growing web market are some of the factors bolstering the next generation dealer portals market.
The benefits that the dealer portals offers for trading between the manufacturers and the end consumers is another factor responsible for the growth of next generation dealer portals.
However, trading through this dealer portals restricts the customers to have an access of the goods to be purchased, also there is an alarming online hacking thefts increasing in the market that can slowdown the growth of the next generation dealer portals market.
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The global next generation dealer portals market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Europe is a dominant region in the global next generation dealer portals market owing to the booming automobiles market in this region.
Asia Pacific is the second major contributor in the next generation dealer portals market because of the flourishing finance and banking sector in this region and the need for managing a wide customer database.
North America is following Europe and Asia Pacific in the next generation dealer portals market due to the adoption of e-retailing in the countries like USA from past two decades. Japan is already a technologically developed region and so is having a significant contribution in the next generation dealer portals market. Latin America and Middle East and Africa are at a nascent stage in the next generation dealer portals and is anticipated to have a modest CAGR in the forecast period.
Some of the key players in the next generation dealer portals market are:
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