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.
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.
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).
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By Geography – Segment Analysis
Europe is expected to dominate the motor sport online advertising market over the forecast period. The European online advertising sector has taken the lead in advertisement spending, surpassing ad revenue (internet revenue) on television. Europe TV operators have begun to form alliances, surpassing online ad giants like Google and Twitter, which are much bigger in scale and have a much wider user base.
Drivers – Motorsport Online Advertising market
Continuous technology developments and advanced digital platform
The Emergence of Covid-19
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Motorsport Online Advertising market. Motorsport Online Advertising driver market is expected to be dominated by major companies such as Oath Inc, Google LLC, Facebook Inc., Microsoft Corporation, Amazon, Inc., and Twitter Inc.
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