Global Online Motorsport Advertising Market Outlook 2020-2025 – Ongoing Technological Developments and Advanced Digital Platforms – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Motorsport Online Advertising Market – Forecast (2020 – 2025)” report has been added to from ResearchAndMarkets.com offer.

The motorsports online advertising market is expected to reach $256.7 million by 2025, growing at a CAGR of 24.1% from 2020 to 2025. Although well established, the online motorsports advertising market motorsport line is one of the fastest growing motorsport league markets. Over time, the market has evolved considerably, mainly due to the relentless technological development and integration.

Key points to remember

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

  • Programmatic advertising is the automatic sale and purchase of online ads. This automation makes shopping more efficient, streamlines the process, and consolidates digital advertising activities into a single technology platform.

  • 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 in-app advertising for smartphones allow marketers to target potential customers and promote their brand.

  • Europe is expected to dominate the online market for motorsport advertisements over the projected period. The European online advertising industry has taken the lead in advertising spending, surpassing television advertising revenue (Internet revenue).

Drivers – Motorsport Online Advertising Market

– Continuous technological developments and advanced digital platform

Marketing automation is an ideal way to reduce the time it takes to introduce many of these techniques. And automation is just one feature of a great product information management (PIM) solution. A successful PIM can centralize event data, automate marketing activities and metrics, distribute product catalogs and information to as many outlets as you need, and analyze data so sales plans and of marketing are constantly improved and that the bottom line continues to increase. The high rate of adoption of modern tools in online advertising will help boost the reach of motorsport among sports enthusiasts and as a result, the motorsport online advertising market will grow.

– The emergence of Covid-19

The COVID-19 pandemic may have caused a ‘timeout’ on motorsport events around the world, but it has brought the virtual racing platform to the fore, meaning that Due to the advent of Covid-19, motorsport leagues are embracing virtual racing and gradually focusing on this emerging digital media market. Formula 1 has unveiled the Digital Grand Prix series to replace the conventional racing bill discontinued or postponed due to the pandemic. MotoGP is running its own virtual version, with current heavyweights such as reigning world champion Marc Marquez and Yamaha’s Maverick Vinales joining the action. These factors have put digital media at the forefront of motorsport leagues and will make the online advertising model even after the Covid-19 pandemic a popular part of motorsport leagues. These factors are also affecting the growth of the online motorsports advertisements market.

Challenges – Motorsport Online Advertising Market

– Use of traditional advertising media

The major factors hampering the growth of the global motorsport online advertising market are the shortage of skilled employees and the continued use of conventional advertising mediums such as television and newspapers. Despite the disadvantages such as high cost and intrusive nature, TV advertising is still used by various motorsport teams and leagues which possess factors such as convenient and flexible advertising medium, high impact and mass coverage. Partnerships signed with various broadcast companies which usually include a certain amount of motorsport league advertising on television have led to a focus on this medium. Nowadays, it is understood that almost every household has a television. Spreading their message to a large number of viewers is therefore extremely simple for motorsport teams and leagues. Therefore, the possession of television advertising for these factors is still used by motorsport leagues, which is a barrier for the global motorsport online advertising market.

Market landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players of the Motorsport Online Advertising market. The motorsport online advertising driver market is expected to be dominated by large companies such as Oath Inc, Google LLC, Facebook Inc., Microsoft Corporation, Amazon, Inc. and Twitter Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/qek2p5

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and the latest trends.