Automotive Advertising Market

Global Automotive Advertising Market Size, Share & Trends Analysis Report By Type (Location Independent Advertising and Location-Based Advertising), By End-User, By Product, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-22963 Publication Date: June-2024 Number of Pages: 232
2023
USD 19.9 Billion
2031
USD 42 Billion
CAGR
10%
Historical Data
2020 to 2022

Market Report Description

The Global Automotive Advertising Market size is expected to reach $42 billion by 2031, rising at a market growth of 10.0% CAGR during the forecast period.

North America, particularly the United States, is home to a significant portion of the global automotive sector. Thus, the North America region acquired 37.5% revenue share in the market 2023. Major automotive manufacturers, including General Motors, Ford, and Chrysler, alongside numerous international brands, have a substantial presence in the region. This strong automotive industry drives considerable advertising investment as brands compete for consumer attention and market share. Thus, these factors can lead to increased demand in the segment.

Automotive Advertising Market Size - Global Opportunities and Trends Analysis Report 2020-2031

The surge of digital platforms, social media channels, and online marketing tools has ushered in a new era of advertising for automotive brands. In this dynamic landscape, automotive advertisers are harnessing the power of cutting-edge technologies such as data analytics, artificial intelligence (AI), and machine learning algorithms to revolutionize their marketing strategies.

Additionally, by fostering emotional connections and tapping into shared values, advertisers can cultivate brand loyalty and advocacy and foster long-term customer relationships that transcend mere transactions. In an era where consumers are inundated with advertising messages, the power of storytelling lies in its ability to cut through the clutter, engage audiences on a personal level, and leave an indelible mark on their hearts and minds.

However, advertisers operating in the automotive sector are subject to a variety of advertising standards and regulations imposed by governmental and industry bodies. These standards dictate the content, format, and presentation of advertisements to ensure they are truthful, accurate, and not misleading to consumers. Consumer protection laws are designed to safeguard consumers from deceptive or unfair advertising practices. Thus, these aspects can lead to reduced demand in the coming years.

Driving and Restraining Factors
Automotive Advertising Market
  • Digital transformation and technological advancements
  • Shift towards electric and autonomous vehicles
  • Emphasis on brand storytelling and customer experience
  • Regulatory compliance and legal constraints
  • Concerns about brand image and reputation management
  • Integration of augmented reality (AR) and virtual reality (VR) technologies
  • Collaboration with influencers and digital content creators
  • High advertising costs and budget constraints
  • Changing consumer preferences and behavior

Type Outlook

Based on type, the market is segmented into location-independent advertising and location-based advertising. In 2023, the location-based advertising segment garnered 63.8% revenue share in the market. The proliferation of mobile devices and smartphones has enabled the proliferation of location-based advertising.

End-Use Outlook

Based on end-user, the market is divided into automotive groups, automotive dealerships, and others. In 2023, the automotive dealerships segment witnessed 30.6% revenue share in the market. To maintain visibility and stay top-of-mind among potential buyers, automotive dealerships invest in high-frequency advertising campaigns.

Automotive Advertising Market Share and Industry Analysis Report 2023

Product Outlook

On the basis of the product, the market is divided into online advertising, traditional media, pre-roll advertisements, and others. In 2023, the traditional media segment witnessed 41.8% revenue share in the market. Traditional media channels, including television, radio, print, and outdoor advertising, have long been mainstays of automotive advertising, offering broad reach and brand visibility to mass audiences.

Free Valuable Insights: Global Automotive Advertising Market size to reach USD 42 Billion by 2031

Regional Outlook

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired 26.1% revenue share in the market. Europe boasts a multifaceted media environment that incorporates conventional advertising channels (e.g., print, radio, television, and outdoor) alongside digital platforms.

Automotive Advertising Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 19.9 Billion
Market size forecast in 2031 USD 42 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 10% from 2024 to 2031
Number of Pages 232
Number of Tables 350
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Product, End-User, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Meta Platforms, Inc. (Meta), Microsoft Corporation, Google LLC (Alphabet Inc.), Force Marketing, Omnicom Group Inc., CMB Automotive Marketing Limited, Highervisibility, LLC, Visarc Limited, Social Media 55, and Adpearance, Inc.
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Recent Strategies Deployed in the Market

  • Jan-2024: Omnicom Group Inc. took over Flywheel Digital Limited, a suite of digital commerce solutions. Under this acquisition, Flywheel will be integrated with Omnicom's offerings across retail and brand media, digital and in-store commerce, as well as precision marketing. Additionally, Flywheel Commerce Cloud will allow Omnicom to offer its clients unmatched insights and analytics.
  • Jan-2023: Force Marketing launched Audience IQ, a full-scale customer data platform (CDP). The product is designed to enable auto dealer groups to enhance their customers’ experiences and increase marketing effectiveness and advertising return on investment. Additionally, the Audience IQ is designed for automotive customers to enhance customer lifetime value in automotive, transforming the brand-to-consumer experience with enhanced communications.
  • Mar-2021: Force Marketing completed the acquisition of GSM Acquisition Corp. (GS Marketing), an automotive marketing company. Through this acquisition, GSM will add fixed-ops marketing capabilities for parts and service departments to Force Marketing's existing suite of variable-ops solutions for dealership vehicle sales.

List of Key Companies Profiled

  • Meta Platforms, Inc. (Meta)
  • Microsoft Corporation
  • Google LLC (Alphabet Inc.)
  • Force Marketing
  • Omnicom Group Inc.
  • CMB Automotive Marketing Limited
  • Highervisibility, LLC
  • Visarc Limited
  • Social Media 55
  • Adpearance, Inc.

Automotive Advertising Market Report Segmentation

By Type

  • Location Independent Advertising
  • Location-Based Advertising

By End-User

  • Automotive Groups
  • Automotive Dealerships
  • Others

By Product

  • Traditional Media
  • Online Advertising
  • Pre-Roll Advertisements
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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