Personalized In-Vehicle Marketing Market: Introduction
- Currently, consumers are preferring online shopping for purchases, including cars. Increase in wireless connectivity and penetration of smartphones is fueling marketing and advertising over the smartphone. Digital advertising and analytics tools help car dealer gather user data, which is a key factor driving the personalized in-vehicle marketing.
- In 2017, a Maryland dealership introduced a direct mail campaign based on thousands of data points from third-party databases. These databases enable the dealer to contact consumers or advertise through their email, which helps save the consumer’s time and is anticipated to propel personalized in-vehicle marketing across the globe.
Key Drivers of Personalized In-Vehicle Marketing
- Growing adoption of advanced technologies including artificial intelligence, big data, and machine learning helps dealers determine consumer interest by using search data of consumers. In 2019, according to Cox Automotive, consumers spent 60% of their time on online auto shopping, which is anticipated to boost personalized in-vehicle marketing across the globe.
- Increase in utilization of over the top media services (OTT platforms) is a key factor driving personalized marketing. Major people are spending time on such platforms where car dealers advertise, which is likely to propel the personalized-in vehicle marketing across the globe. Major vehicle dealers were closed due to the pandemic, and in these situations, personalized marketing helps promote online shopping. This in turn is likely to drive personalized in-vehicle marketing across the globe.
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Europe & Asia Pacific to hold significant share of global Personalized In-Vehicle Marketing
- Europe is projected to account for a major share of global personalized in-vehicle marketing due to a rise in the demand for vehicles across the region. Europe has major developed countries and rise in disposable income of consumer major people prefer online purchase of vehicle across Europe. Major countries across Europe are extending lockdown due to pandemic, which is likely to boost personalized in-vehicle marketing across Europe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global personalized in-vehicle marketing due to an increase in vehicle sales across the region. For instance, after a global slowdown in the automobile industry, several governments have reduced taxes on automobiles to encourage sale of vehicles across the region, which is likely to increase personalized in-vehicle marketing across the region.
Key Players Operating in Personalized In-Vehicle Marketing
Personalized in-vehicle marketing is expanding consistently, as a large number of players operate in the market. A few of the key players operating in personalized in-vehicle marketing are:
- Robert Bosch GmbH
- Morgan & Co
- GfK Global
- Sasken Technologies Ltd
- Epsilon Data Management LLC
- Cox Automotive
- Jabil Inc.
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Global Personalized In-Vehicle Marketing: Research Scope
Global Personalized In-Vehicle Marketing, by Technology
- Artificial Intelligence
- Virtual Reality
- Digital Verification Methods
Global Personalized In-Vehicle Marketing, by Source
- Journals & Magazine
- Automobile Shows
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.