Loopit is thrilled to have been awarded winner for the 2022 Australian Business Awards in the categories of Tech Innovation and SAAS Innovation. The automotive industry has evolved over the past year where the uptake in car subscription services has increased significantly as motorists seek an alternative to ride-sharing, rental, leasing, and ownership due to the changing market conditions. With Boston Consulting Group expecting that the global car subscription industry will be valued at AUD$54 billion by 2030, these developments bring exciting times to the team at Loopit and the wider automotive industry.
Our configurable platform empower industry stakeholders from dealerships, OEMs to emerging startups, to launch and manage their own car subscription program in a way that meets the needs of their own market - and these awards reiterate just that. We are proud to be driving the car subscription movement with 80 per cent of subscription services across Australia and New Zealand utilising our turnkey solution.
As Loopit looks to accelerate our global expansion following our recent UK expansion, the team is excited to continue enhancing our product offering to meet the growing demand by both car subscription providers and subscribers.