Motorsport Online Advertising Market - Forecast(2021 - 2026)

The market for Motorsport Online Advertising is forecast to reach $256.7 million by 2025, growing at a CAGR of 24.1% from 2020 to 2025. Though well established, the motorsport online advertising market is one of the fastest growing motorsport leagues markets. Over a period of time, the market has evolved significantly mainly due to incessant technological development and integration.

Online advertising for motorsport is the best way to promote racing products, services, teams and leagues. Online advertising for motorsport includes integrated, cross-channel advertising opportunities that include a mix of OTT content advertising and traditional online advertising. Organizers of motorsport or clubs and teams post ads that are distributed through the network of advertisers to enter wide motorsport enthusiasts. Social media advertising has played key role in the motorsport. According to a recent Autosport article, Formula 1 advertisement has seen a 53% YoY growth across Facebook, Instagram, Twitter and YouTube, with a strong fan following of 18.5 million people across the globe.

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Report Coverage
The report: “Motorsport Online Advertising Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Motorsport 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, South America, Europe, Asia-pacific, RoW.
 
Key Takeaways:

  • Online motorsport advertisement is the perfect way to advertise goods, facilities, teams and leagues in the racing market. Online motorsport advertising includes integrated, cross-channel advertising opportunities which include a mixture of OTT digital advertisement and traditional online advertising.

  • Programmatic advertising is the automatic sale and purchase of online ads. This automation makes purchases more efficient, streamlines the process and consolidates digital advertising activities within one platform of technology.

  • It has created new possibilities for marketers as Mobile Advertisements are displayed on smartphones. Mobile ad networks such as Google Mobile Searches, Facebook and Instagram Mobile Feeds, and smartphone in-app advertising allow marketers to target potential customers and promote their brand.

  • Europe is expected to dominate the online market for motorsport ads over the projected period. The European online advertising industry has taken the lead in advertisement expenditure, surpassing tv ad revenue (internet revenue).

By Type - Segment Analysis
In terms of revenue from 2020 to 2025, the programmatic segment on the market is projected to grow at a CAGR of 25.5%. Programmatic advertising is the automated purchasing and sale of online ads. This automation makes purchases more effective, streamlines the process and consolidates digital advertising activities under one technology platform. Programmatic companies have extended their inventories and databases. Targeting approaches are used to target audiences using data such that advertisers pay only for ads delivered at the right time to the right people, and are less reliant on the "spray and pray" process of digital advertising. Programmatic platforms have extended their inventory and storage so that every device and display, including smartphone, laptop, tablet, audio, streaming outdoor and connected TV, can be accessed programmatically. Targeting strategies are used to monitor viewers using data such that marketers can pay the right time for ads sent to the right people and this is expected to boost the market growth.


By Device- Segment Analysis 
Mobile Segment has dominated the Motorsport Online Advertising market in 2019 and is set to grow at highest growth rate of 26.7% during the forecast period 2020-2025.

 There are two major types of mobile ads, Web-based orIn-App. There really is no difference in terms of quality and price between the two types as yet. As Mobile Ads are viewed on smartphones, it has created new possibilities for advertisers. Mobile ad networks such as Google Mobile Searches, Facebook and Instagram Mobile Feeds, and in-app advertising for a particular smartphone device allow marketers to target potential customers and promote their brand.


By Format-Segment Analysis

Display advertising segment of the online advertisement market for motorsport is projected to expand from 2020 to 2025 at a CAGR of 20.5% of terms of revenue. Display advertising includes banner ads to advertise on websites, apps, and social media alongside other visual ad formats. Display advertisements are a valuable advertising device for marketers searching for ways to attract and retain consumers. 

We use visual media liberally to grab people's attention in the form of tweets, images, or even videos. Variety, scope, aim and success and interaction monitoring are the pros of display advertising. Whereas the Cons are blindness flags, ad blockers, and so on. Adopting display ads is gaining momentum in the motorsport market, as it helps measure the display ad management outcomes. Just as it offers exposure for tracking ad coverage and evaluating show ad effectiveness and targeting effort. This also provides access to the click-through rate and conversion rate measurements.

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