PUBLISHER: The Business Research Company | PRODUCT CODE: 1458615
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458615
Auto collision estimating software is a specialized computer program utilized by professionals within the automotive repair industry to calculate repair costs for vehicles involved in collisions or accidents. These software solutions typically incorporate databases containing information on parts, labor costs, and repair procedures. This enables estimators to input details about a vehicle's damage and efficiently generate accurate repair estimates.
There are two main types of auto collision estimating software such as cloud-based and on-premise. Cloud-based auto collision estimating software is a digital solution hosted on remote servers and accessed via the internet, offering flexibility and accessibility. It can be deployed in various modes, including Software as a Service (SaaS) and traditional software, catering to both small and medium enterprises (SMEs) and large enterprises. This software finds applications across diverse sectors, including independent auto repair shops, dealerships, fleet management companies, and insurance companies.
The auto collision estimating software market research report is one of a series of new reports from The Business Research Company that provides auto collision estimating software market statistics, including auto collision estimating software industry global market size, regional shares, competitors with auto collision estimating software market share, detailed auto collision estimating software market segments, market trends, and opportunities, and any further data you may need to thrive in the auto collision estimating software industry. This auto collision estimating software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The auto collision estimating software market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth observed in the historical period can be attributed to factors such as heightened collision rates, the imposition of stringent regulatory compliance measures, the increasing complexity in vehicle technology, rising consumer expectations, and the evolution of the insurance industry.
The auto collision estimating software market size is expected to see rapid growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The anticipated growth in the forecast period can be ascribed to factors such as the integration of artificial intelligence (AI), the proliferation of electric and autonomous vehicles, a heightened focus on environmental sustainability, the global expansion of the automotive aftermarket, and an increased emphasis on enhancing customer experience. Key trends expected in the forecast period encompass the integration of AI and machine learning, the adoption of cloud-based solutions, the enhancement of mobile solutions, the utilization of data analytics for performance optimization, and a focus on regulatory compliance and standardization.
The anticipated rise in road accidents is poised to drive growth within the auto collision estimating software market moving forward. Road accidents encompass incidents involving vehicles, pedestrians, cyclists, or other road users resulting in damage, injury, or loss of life. Auto collision estimating software plays a pivotal role post-accident, enhancing repair processes, claims management, and overall efficiency by swiftly and accurately analyzing photos, vehicle data, and damage specifics to generate repair estimates. For example, in May 2023, as reported by the Government Digital Service, fatalities on UK roads surged by 8.7% from 1,558 in 2021 to 1,695 in 2022, highlighting the escalating trend in road accidents propelling the demand for auto collision estimating software.
Leading players in the auto collision estimating software arena are prioritizing innovation, particularly in the realm of repair package solutions, to fortify their market position. These solutions offer a standardized language and framework facilitating seamless data exchange among auto collision estimating systems, insurance entities, and other pertinent stakeholders involved in the repair continuum. Notably, in October 2023, SUNA Collision, a US-based enterprise specializing in OEM collision and mechanical repair information, introduced a groundbreaking repair package solution. This innovation streamlines the labor-intensive blueprinting process, furnishing comprehensive documentation to support estimates and insurance claims. Significantly, it serves as a significant time-saving tool for service writers/estimators, enabling them to devise meticulous repair plans swiftly, thereby obviating the need for manual data input.
In January 2024, The Beekman Group, a respected private equity firm headquartered in the US, finalized the acquisition of Web Est for an undisclosed sum. This strategic move is aimed at integrating Web Est's collision estimating software into Convenient Brands' portfolio in the auto repair industry. By combining Web Est's software with Convenient Brands' existing offerings, such as shop management software and payment processing tools, The Beekman Group seeks to enhance the comprehensive solutions available to independent auto body shops. Web Est, a US-based provider of collision estimating software, brings valuable expertise and technology to this acquisition, aligning with The Beekman Group's strategy to drive innovation and efficiency in the auto repair sector.
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.
North America was the largest region in the auto collision estimation software market in 2023. 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.
The countries covered in the auto collision estimating software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The auto collision estimating software market includes revenues earned by entities by providing services such as damage assessment, parts, and labor estimation, labor rate management, insurance claims integration, and customer communication. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The auto collision estimating software market also includes sales of computers, tablets, scanners, and digital cameras. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Auto Collision Estimating Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on auto collision estimating software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for auto collision estimating software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The auto collision estimating software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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