DUBLIN, Oct. 22, 2020 /PRNewswire/ — The “Automotive Online Advertising Market – Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
Global automotive online advertising market generated a value of $9,321.44 mn in 2019 and is estimated to reach $22,925.89 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.
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.