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Aftermarket and services

COVID-19 is having a significant impact on the aftermarket, which is currently experiencing big increases in digital channels and e-commerce volumes as customers seek remote rather than onsite services. In the automotive industry, for instance, vehicle miles travelled are down dramatically, resulting in fewer collisions and consequently less demand for crash parts.

Despite COVID-19, however, the aftermarket and services sector has begun to attract a growing set of digital-native attackers, crowding the competitive landscape and making already convoluted channels even more complex.

OEMs, suppliers, and all other aftermarket players need to recognize these changes and begin to address them immediately. By realizing the full potential of digital solutions in aftermarket services, players can begin to take advantage of these changes and avoid being run over by them.

3 percent CAGR of the automotive aftermarket through 2030
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