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The ride-hailing industry will hit a new record for users and sales in 2023. As the market expands, both Lyft and Uber are laying the groundwork for significant advertising in the future.

This is especially true in consumer packaged goods (CPG), insurance, and automotive industries, where TV continues to offer unparalleled efficiency and quality.

Insurance joins the long list of industries slashing ad budgets: Insurers are among TV鈥檚 most recognizable brands, but industry problems have forced them to back down.

Expect shortages in the automotive industry to continue to boost vehicle prices and cause delivery delays. Automakers sold 13.9 million cars, trucks, SUVs, and vans in 2022, per Repairer Driven News, the lowest sales number since 2011, when the economy was recovering from the Great Recession.

Still, there鈥檚 a lot of room for Carvana to grow, especially if it鈥檚 able to control costs and maintain sales amid a chaotic time for the rest of the auto industry. 4. Gen Z brings online resale to the mainstream.

Inflation and rising interest rates brought a swift end to the used car boom. Carvana has since shifted away from a focus on growth and toward cutting costs and improving the customer experience. But Carvana has proved there is room for a car dealer in the top ecommerce companies. Carvana鈥檚 fate lies in its ability to control costs and maintain sales amid a chaotic period for the auto industry.

The travel and retail industries will post healthy digital ad spending growth figures this year, but many other verticals we track will underperform compared with the national growth average. Next year is looking better for almost all of them.

What works where: The report also delves into industry-specific benchmarks, offering valuable insights for tailoring strategies. Industries like QSR, Automotive, and Consumer, Shopper, and Retail thrive on TikTok by capitalizing on visually appealing and creative content that resonates with the platform's youthful user base.

This is especially true in consumer packaged goods (CPG), insurance, and automotive industries, where TV continues to offer unparalleled efficiency and quality.

Diverging from conventional industry strategies, Honda is addressing customers鈥� charging needs ahead of launching its electric SUVs in 2024.

Tech layoffs hit Twilio, LinkedIn, Ford, and Yahoo: We could be facing a secondary wave of cost-cutting in the tech field. The good news is opportunities are open in other industries.

On today's podcast episode, we discuss what social networks can't stop getting wrong, whether Amazon can make its app fun, if enough people care about voice assistants, whether Uber's "Return a Package" feature will take off, how AI may change entrepreneurship, which music format has made the most money for the music industry in the past 50 years, and more. Tune in to the discussion with our vice president of content Suzy Davidkhanian, vice president of Briefings Stephanie Taglianetti, and analyst Max Willens.

US digital ad spending growth will decelerate to 7.8% YoY in 2023, its slowest pace in 14 years. The individual industries we track are generally following the national trend, but the timing and pacing of their slowdowns are playing out differently. For some industries, the outlook is fairly positive.

This exclusive data provided to Insider Intelligence by market intelligence firm Sensor Tower looks at Facebook and Twitter ad spending across industries in 2022 and 2023, and how those platforms compare against YouTube in the first half of this year.