Global automotive online advertising market generated a value of $9321.44 mn in 2019 and is estimated to reach $22925.89 mn by 2025, growing at CAGR of 16.2% during the forecast period of 2020-2025. Automotive consumers are becoming more and more demanding in what they want from the vehicle, requiring key features ranging from comfort and spaciousness to heated seats and push-button starts so dealers and manufacturers should focus on content based ads to target the consumers i.e. the media formats and locations used to promote the vehicles should mirror the values of innovation that drives the demand for green models by early tech adoption can inform more effective targeting of potential buyers.
Report Coverage
The report: “Automotive online advertising market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Automotive online advertising market.
By Type – Direct, Programmatic
By Device – Mobile, desktop, others
By Format – Display advertising, search engine marketing, video and OTT advertising, social media marketing, social media influencer advertising, retargeting and remarketing, rich media, others
By Geography - North America (U.S, Canada, Mexico), Latin America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).
Programmatic advertising is attracting automotive advertisers with new technologies such as artificial intelligence, machine learning, voice search and digital out of home, hence driving the market growth in the coming years.
Pre-roll advertisements comes in-built with internet browsers which is hindering the growth of the market.
IoT technologies and services have transformed the marketing and advertising ecosystem of automobiles and are witnessing a steady influx of new advertising service providers.
North America is the major region dominating the Automotive Online Advertising Market owing to the high rate of digital spending by the automotive companies and the presence of key players in the region.
Type - Segment Analysis
The Automotive online advertising market is segmented into direct and programmatic by type. By Type, Programmatic segment held the major share in 2019 and is estimated to grow at a fastest CAGR of 17.6% during the forecast period 2020-2025. Programmatic advertising is attracting automotive advertisers with new technologies such as artificial intelligence, machine learning, voice search and digital out of home. Programmatic online advertising is enhancing the automotive advertisers to buy digital space.
Programmatic online advertising allows the advertisers to serve the right advertisement creative, at the right time to the right leads. With programmatic advertising automotive advertisers can capture the search data of consumer and serves the right content to those potential buyers. Programmatic advertising allowed the automotive advertisers to focus on more strategic areas of their client accounts by automating most of the management and bidding process. Data matched with programmatic sales is key for the automotive advertisers to strengthen relationship with brands in a more strategic manner. Applied data by programmatic advertising allows automotive advertisers to identify what really engages an audience , detect areas where improvement can be applied and more effective ways of targeting audience such as social platforms.
By Format, the search engine marketing segment dominated the automotive online advertising market in 2019 and is estimated to grow at a CAGR of 11.9% during the forecast period. However, Social Media Influencer Advertising segment by format is estimated to grow with the fastest CAGR of 25.1% during the forecast period 2020-2025. This is owing to the increasing time spent in video platforms and it focuses on impression-based buying with the increase in online viewing across multiple devices.
The use of extensive keyword lists power unique SEM campaigns, and each keyword produces a targeted ad that generates solid leads for dealership. Automotive SEM campaigns are ideal for the competitive automotive industry for several reasons, including: Dealership Customization, Measurable Results, Increased Online Presence. In 2020, Automotive SEM depends on the recent data as today’s consumers are obsessed with research. This primarily affects PPC for auto dealers, instead of SEM. But, this search trend is important to understand for either channel because of the increasing need to understand proper attribution.
Geography - Segment Analysis
North America is the major region dominating the Automotive Online Advertising Market with revenue of $2592.66 mn in 2019 and is expected to grow at a CAGR of 13.9% during the forecast period of 2020-2025 to generate a revenue of $5649.40 mn in 2025. U.S. in North America region is dominating the Automotive Online Advertising Market generating a revenue of $2129.17 mn in 2019.
This is owing to the high rate of digital spending by the automotive companies present in the region and the presence of key players in the country. Rapidly increasing internet penetration and expansion of digital content have made digital advertising in North America a multi-billion-dollar industry. Automotive marketers know that more shoppers are turning to the internet to do their research.
Rapidly increasing internet penetration and expansion of digital content have made digital advertising in North America a multi-billion-dollar industry. Moreover, the rise of OTT video platform viewership that includes digital TV is enhancing the automakers to increase spending on this type of platform for online advertisement. Automotive marketers know that more shoppers are turning to the internet to do their research. Instead of visiting multiple dealerships to compare brands, buyers can now compare brands, models, colors, and prices on multiple online sites.
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