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Sensor Tower Releases Report on Insights into Digital Advertising by Asia-Pacific Automotive Brands in the US Market
Sensor Tower, a global mobile market data analytics company, has released a report titled ‘Insights into Digital Advertising by Asia-Pacific Automotive Brands in the US Market.’ The report includes insights on digital ad spending and growth rates of major automotive brands in the US market in 2024, trends in ad spending by major Asia-Pacific automotive brands in the US market over the past few years, major execution channels, popular ad creatives, and more.
According to data from Cox Automotive, the US is a significant market for Asia-Pacific automotive brands. In 2023, Asia-Pacific automotive brands accounted for 46% of total vehicle sales in the US market. This is significantly higher than the 34% recorded by US domestic auto brands.
Toyota ranked second in the US market share, following General Motors (GM), which held a 17% share. Hyundai (including Hyundai, Genesis, and Kia) also performed exceptionally well in the US market. It recorded an 11% market share in 2023, making it the second most popular Asia-Pacific automotive brand after Toyota.
Asia-Pacific automotive brands are more actively involved in digital advertising than domestic auto brands to stay ahead in the US automotive market. Sensor Tower data shows that 7 of the top 10 automotive advertisers in the US market by ad spending were Asia-Pacific brands.
From the second quarter of 2023 to the first quarter of 2024, Hyundai spent over $200 million on digital advertising in the US, a 42% year-over-year increase, surpassing Ford to take the top spot. Toyota's ad spending in the US remained stable, increasing by 3% to $150 million from the second quarter of 2023 to the first quarter of 2024, ranking third.
As the US automotive market grows and competition intensifies, many Asia-Pacific automotive brands increased their digital ad spending in 2024 to attract potential customers and expand sales. In the first quarter of 2024, Hyundai spent $61 million on digital advertising in the US market, a 74% year-over-year increase, surpassing other Asia-Pacific automotive brands. Honda also started increasing its ad spending from the third quarter of 2023, and in the first quarter of 2024, it spent $48 million, up 130% year-over-year, following Hyundai.
With the rise of electric vehicles, major Asia-Pacific automotive brands are actively promoting their electric vehicle models in the US market. Looking at the model-wise digital ad spending share of major Asia-Pacific automotive brands in the US market in the first quarter of 2024, Kia EV9's US market ad spending in the first quarter of 2024 increased by 200% year-over-year, making it the top model in terms of ad share among all automotive models.
OTT platforms have been a significant digital advertising channel for major Asia-Pacific automotive brands, including Hyundai, Toyota, Nissan, and Kia. In the first quarter of 2024, 62% of Kia's total digital ad spending in the US market was concentrated on OTT platforms. Approximately 30% of Hyundai and Nissan's ad spending was allocated to OTT platforms.
In particular, Hyundai showed a strong preference for YouTube as a digital advertising platform, with 45% of its digital ad spending in the US market in the first quarter of 2024 going to YouTube. YouTube was also Honda's most used platform for digital advertising in the US, accounting for 30% of its total digital ad spending in the first quarter of 2024.
Examining the ad audience data for Hyundai and Toyota from Sensor Tower reveals a certain degree of similarity in the age distribution of their ad audiences, with a remarkable 64% of the audience being young people aged 18-34. However, in terms of gender distribution, Toyota had a higher percentage of male viewers at 60%, while Hyundai had a higher percentage of female viewers at 46% compared to Toyota's 41%.
Hyundai and Toyota displayed differences in their ad creatives. Hyundai's popular digital ad creatives emphasized practical features, convenience in family car scenarios, and price advantages by comparing them with competing models, while Toyota's ads highlighted collaborations with sports events, vehicle performance and safety, and excellent after-sales service.
More detailed information, such as the digital advertising performance and leadership achieved by Asia-Pacific automotive brands in the US market in 2024, and how these brands differentiated their digital ad creatives to gain an advantage, can be found in the ‘Insights into Digital Advertising by Asia-Pacific Automotive Brands in the US Market’ report. The full report can be downloaded from the Sensor Tower website.
About Sensor Tower
Founded in San Francisco, USA, in 2013, Sensor Tower has become a leading data analytics company trusted by global digital companies such as Twitter, Unity, Tencent, and HBO. Through intelligence tools such as Store Intelligence, which allows you to understand mobile market trends, and Advertising Intelligence, which allows you to optimize advertising strategies, Sensor Tower provides in-depth insights and leading customer support to mobile businesses at every stage of their journey, from mobile startups to leading companies and financial institutions. Sensor Tower won the ‘Best Data/Analytics Tool’ award at the Pocket Gamer Mobile Games Awards 2022.
Website: https://sensortower.com/ko
Contact
Sensor Tower
Korea Branch Marketing Team
Yena Yoo
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