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Uberization of Vehicle Service - Business Model and Revenue Analysis, 2017-2025

  • Report

  • 88 Pages
  • March 2019
  • Region: Global
  • Frost & Sullivan
  • ID: 4758325

$1.8 Billion in Total Service Revenue to be Booked From Online Service Marketplaces Across North America and Europe in 2025

The aim of this study is to research, analyze, and forecast the business impact of the service marketplaces business model in the automotive aftermarket. Service marketplaces are a direct outcome of the digital wave disrupting the automotive aftermarket service industry. As per the author's analysis, a majority of the activity is currently visible in Germany, the UK, the US, and France. In other markets, including China and India, eCommerce in aftermarket parts and service retail is catching up quickly. Over the last 1–2 years, there has been significant activity from the Original Equipment Manufacturer (OEM) and Original Equipment Supplier (OES) channel backing this business model strongly. In the next 2–3 years, service marketplaces are expected to evolve to be a strong channel to market with, with online job booking accounting for an estimated 3%–5% of total service jobs in the countries under the scope.

Key Features

  • Providing a strategic overview of the emergence and growth of the service marketplaces business model in the automotive aftermarket
  • Providing industry benchmarking of different marketplaces
  • Estimating and forecasting the future market revenue potential
  • Developing an understanding of the Key Performance Indicators (KPIs) for a successful business model involving multiple stakeholders
  • Developing actionable recommendations for existing participants to ensure channel growth and to identify channel entry strategies for prospective new entrants

Research Highlights
The study looks at the service aftermarket in four countries: the US, the UK, Germany, and France, and analyzes the workshop network adoption of the service marketplace concept. The analysis involves the estimation of the current level of penetration in the number of jobs booked from service marketplaces and also the dollar value of the total service job booked through these marketplaces. The further analysis covers the estimation of the current level of revenue generated by these marketplaces and forecasts the same for 2025. The country-level analysis provides information on the penetration of service marketplaces in each of these regions for service jobs, service revenue penetration, and also service marketplace revenues. The research also covers benchmarking of top market participants on KPIs and provides an in-depth analysis of the strategic engagement opportunities for different types of stakeholders involved in the aftermarket service industry, including OEMs, OES, aftermarket distributors, eCommerce participants, and others.

Key Issues Addressed

  • How has the aftermarket service marketplaces business model evolved?
  • Which are the key market participants and how do they compete with each other?
  • How are other industry participants being impacted and what is the business opportunity for them?
  • What is the market demand at present and how is this expected to evolve by 2025 across different geographies under the scope of the study?

Table of Contents

1. Executive Summary
  • Key Findings
  • What is Uberization of Service?
  • Comparison Between Traditional and Service Marketplace Access
  • Business Model Approaches
  • Market Snapshot
  • Market Intensity by Region
  • What are the Key Business Factors?
  • Current and Future Outlook

2. Research Scope, Objectives, Background, and Methodology
  • Research Scope
  • Research Aims and Objectives
  • Key Questions this Study will Answer
  • Research Methodology

3. Transformational Trends Impacting Vehicle Service
  • Trend 1 - Connectivity Powers On-demand Mobility Services
  • Trend 2 - Demographic Shifts (Gen Y and Z as Vehicle Owners)
  • Trend 3 - Emergence of Women as Vehicle Buyers and Users
  • Trend 4 - Investment Interest in Aftermarket Start-ups
  • Trend 5 - Digital Transformation in the Automotive Service Industry
  • Future Revenue Growth From Downstream Services

4. Business Models and KPIs for Service Marketplaces
  • Business Model Approaches
  • Digital KPIs - B2B (Workshop Centric)
  • Digital KPIs - B2C (Vehicle Owner Centric)

5. Market Opportunity Analysis
  • Service Marketplaces - Stages of Development
  • Service Marketplaces - Investment Trends
  • Service Jobs Potential (Service Marketplaces) in Key Markets
  • Service Jobs Penetration (Service Marketplaces) in Key Markets
  • Service Revenue Potential (Digital Platforms) by Key Markets
  • Service Revenue Penetration (Service Marketplaces) in Key Markets
  • Revenue Potential for a Digital Garage Platform
  • Impact of Service Marketplaces on Channel Participants
  • Stakeholder Activity Analysis in Vehicle Service Digitization
  • Overview of Existing OEM/OES Partnerships With Service Marketplaces

6. Service Marketplaces - Competitive Analysis
  • Region-wise Competitor Mapping
  • Competitor Mapping - Business Model Analysis
  • Key Differentiators Among Competitors
  • Benchmarking Key Service Aggregators

7. Service Marketplaces - Competitor Profiles
  • Whocanfixmycar
  • Caroobi
  • Bookmygarage
  • Yourmechanic
  • ClickMechanic
  • Mycarneedsa
  • Openbay
  • Autobutler
  • Mon Mécanicien
  • Fairgarage
  • Autoscout24

8. Service Marketplaces - Strategies and Opportunities for Future Growth
  • Future of Service Marketplace Capabilities
  • Emerging Business Model Case Study - Engine Solution
  • Increasing Customer Touchpoints and Services
  • Increasing Services for Workshops

9. Growth Opportunities and Companies to Action
  • Growth Opportunity in Service Marketplaces
  • Strategic Imperatives for Success and Growth

10. Conclusion
  • Key Parameters for Success in Service Marketplaces
  • The Last Word - Three Big Predictions
  • Legal Disclaimer

11. Appendix
  • Market Engineering Methodology
  • List of Exhibits

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Autobutler
  • Autoscout24
  • Bookmygarage
  • Caroobi
  • Clickmechanic
  • Fairgarage
  • Mon Mecanicien
  • Mycarneedsa
  • Openbay
  • Whocanfixmycar
  • Yourmechanic