What Are The Strategic Insights Behind The Auto Collision Estimating Software Market Expansion To $3.85 Billion?
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How Big Is The Auto Collision Estimating Software Market Today And What Is Its Future Size?
The market size of auto collision estimating software has seen rapid expansion in the past few years. It is projected to increase from $2.33 billion in 2024 to $2.61 billion in 2025, a compound annual growth rate (CAGR) of 11.9%. Attaining this growth rate in the historical period is primarily due to factors such as increasing collision rates, strict regulatory compliance, growth in vehicle technology complexity, elevated customer expectations, and advancements within the insurance industry.
In the coming years, the auto collision estimating software market is expected to experience a swift surge in size. It is predicted to reach $3.85 billion by 2029, with a compound annual growth rate (CAGR) of 10.2%. The expansion during this forecast period can be credited to factors such as the inclusion of artificial intelligence (AI), the rise in the number of electric and autonomous vehicles, emphasis on environmental sustainability, worldwide growth in the automotive aftermarket, and a heightened focus on customer experience. Notable trends for the upcoming period include the adoption of AI and machine learning, cloud-based platforms, advanced mobile solutions, data analytics for enhancing performance, and adherence to regulatory norms and standardization.
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What Growth-Enabling Forces Are Impacting The Auto Collision Estimating Software Market?
The escalation of road mishaps is anticipated to spur the expansion of the auto collision estimating software market. Road or traffic accidents involve situations where vehicles, pedestrians, cyclists or other road users using public roads or highways cause damage, injuries, or fatalities. The software for estimating auto collisions is utilized after such mishaps, enhancing repairs, claims, and overall effectiveness by reviewing photographs, data about the vehicle, and details of damage to form repair estimates swiftly and precisely. For instance, according to the Government Digital Service, a government agency based in the UK, fatalities on UK roads surged by 8.7% from 1,558 in 2021 to 1,695 in 2022, as recorded in May 2023. As such, a rise in road mishaps is pushing the expansion of the market for auto collision estimating software.
What Segmentation Insights Are Provided In The Auto Collision Estimating Software Market Research?
The auto collision estimating softwaremarket covered in this report is segmented –
1) By Type: Cloud-based Auto Collision Estimating Software, On-premise Auto Collision Estimating Software
2) By Deployment Model: SaaS (Software as a Service), Traditional Software
3) By Application: Small and Medium Enterprises (SMEs), Large Enterprises
4) By End-users: Independent Auto Repair Shops, Dealerships, Fleet Management Companies, Insurance Companies
Subsegments:
1) By Cloud-based Auto Collision Estimating Software: Subscription-Based Services, Pay-Per-Use Services
2) By On-Premise Auto Collision Estimating Software: One-Time Purchase Licenses, Annual Maintenance Contracts
Which Notable Trends Are Transforming The Auto Collision Estimating Software Market Outlook?
Leading firms in the auto collision estimating software market are focusing on cutting-edge innovations like repair package solutions in order to strengthen their market presence. These solutions offer a unifying language and structure that enables a smooth data transfer between auto collision estimating systems, insurance firms, and other key parties involved in the repair process. For example, in October 2023, SUNÂ Collision, a US-based firm offering OEM collision and mechanical repair data, introduced a pioneering repair package solution that simplifies the tedious blueprinting process, delivering exhaustive documentation to back estimates and insurance claims. It emerges as a substantial time-saving tool for service writers/estimators by enabling them to generate a failsafe repair strategy instantly, obviating the need for manual data input.
Who Are The Major Stakeholders Operating In The Auto Collision Estimating Software Market?
Major companies operating in the auto collision estimating software market report are Intuit Inc., Snap-On Inc., ABRA Auto Body & Glass LP, Solera Holdings Inc., CCC Intelligent Solutions Inc., Enlyte Group LLC, AudaExplore, Alldata LLC, Shopmonkey Inc., Solera Inc., Auto Data Direct Inc., Comp-Est, Bodyshop Solutions Ltd., Auto Data Solutions Inc., Web-Est, R.O. Writer, MobiTech International Inc., Nexsyis Collision, Bodyshop Booster, DamageiD, Fastrack Autobody Ltd., Audatex, Estify Inc., Repair Shopr, SMART Estimator Ltd.
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Which Regional Markets Are Emerging As Key Hubs For The Auto Collision Estimating Software Market?
North America was the largest region in the auto collision estimation software market in 2024. The regions covered in the auto collision estimating software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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