The automotive industry is making great strides as new technology and vast amounts of data floods reshape the space. The shift in consumer behaviors, growing interest in alternative mobility and the blending of online and offline experiences have given today's automotive consumers greater control over their interactions with brands.
The global market for automotive marketing was valued at $18.5 billion in 2022 and is expected to reach $48.0 billion by 2032, growing at a CAGR of 10.2 percent from 2023 to 2032. This growth is fueled by automotive companies' increasing focus on connecting with consumers and meeting the changing demands of the market.
EV manufacturers are reshaping the automotive industry with their focus on sustainability and efficiency. Brands leverage the environmental benefits, cost savings and innovative features that appeal to eco-conscious consumers. This aligns with the evolving customer values and positions brands as leaders in the move toward a more sustainable future.
Technologies like AI and blockchain further enhance automotive marketing by improving customer engagement and operational efficiency. Brands can now create personalized experiences through data-driven insights, enabling tailored campaigns. This increases transparency, building trust and credibility for brands.
In this edition of Auto Tech Outlook, we explore the recent developments in automotive marketing and how companies harness cutting-edge technologies to offer top-notch solutions.
We feature insights from industry experts like Anthony Mitchell, VP of Marketing at Keystone Insurers Group, who focuses on the growing use of technology to enhance passenger comfort in vehicles. We also feature Troy Kantola, Director of Product Engineering, Plymouth & Ann Arbor Technical Centers at Tenneco Inc. , who emphasizes advanced technologies to improve vehicle efficiency and performance.
In this edition featuring the Top Automotive Marketing Services Providers 2024, we aim to help you find the right partner for your business requirements. Let us know your thoughts!