While the COVID-19 pandemic is creating a major drag on the global economy, it’s helping to accelerate the development and commercialization of several emerging technologies that have, until now, received lukewarm public and/or government support.
As the realities of Brexit finally hit, will the purse strings tighten?
Germany’s auto industry is central to the economy of the country and the region. But because of macroeconomic trends—like the volatility of the US-China trade negotiations and US President Donald Trump’s mixed trade signals on German cars—the automotive sector in Germany is underspending on ads compared with other industries. The medium-term prognosis remains uncertain.
We expect a shift in US digital ad spending next year, as economic factors weigh on certain industries. In 2020, financial services will displace the auto sector, while travel will surpass consumer packaged goods (CPG).
US auto and auto parts sales in the US are slowing, which will weigh down the entire retail sector. This year, the auto industry will grow 2.0% to $1.299 trillion, the slowest growth rate since at least 2011. Growth will flatten through 2022, according to eMarketer’s latest US retail forecast.
eMarketer forecasting director Shelleen Shum breaks down our ad spend numbers for the US auto sector. While estimates are showing a growth slowdown for 2019, video and search are bucking the overall trend. Watch now.
In a marketplace crowded with competition, ride-hailing pioneer Uber still dominates the US transportation-sharing economy. But as the first mover's growth slows, its main competitor Lyft will increasingly claim market share.
Lingering uncertainty over Brexit has had an impact on all industries across the British economy, but the automotive sector has been hit particularly hard, which has affected how much it can spend on digital ads.
eMarketer analysts discuss our digital ad spend by industry forecasts, exploring verticals such as automotive, CPG, financial services, healthcare and pharmaceutical, travel and retail.
Boris Johnson, who was sworn in as the new British prime minister last week, declared early on that the UK will leave the EU by October 31. The divisive topic has already claimed two prime ministers and on the surface, there’s a tone of certainty about Johnson’s plans: He has filled his cabinet with Brexiteers, and he’s adamant that a no-deal Brexit will be the default option for “Brexit Day v2” should negotiations with the EU come to nothing.
eMarketer senior forecasting analyst Cindy Liu breaks down our car and retail spending numbers and three factors behind the softening sales. Watch now.