Facebook Releases New Report into Digital Transformation in the Auto Industry [Infographic]
Facebook has released a new report, in conjuction with Bain and Company, which looks at how the rise of digital platforms has changed the auto industry, and the way in which consumers now research and purchase cars.
And that shift is significant - as explained by Facebook:
"The report assesses that by 2020, almost 70% of annual auto sales (about 19 million units or $40 billion) will be digitally influenced."
The focus on the automotive sector makes sense - according to eMarketer, automotive and entertainment brands will see the fastest growth in digital ad spend in the next three years, with the U.S. auto sector alone set to account for up to $14.14 billion in digital ad spend by 2020.
Basically, if you're working in the auto sector, you need to be utilizing digital platforms to stay in touch.
Here's a summary of Facebook's key findings in infographic form - you can read the full detail here.
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