Sports Marketing Survey said it was using image recognition system Magellan to measure the exposure of sponsors and teams in more than 140 markets worldwide. The software searches through video footage to automatically detect brands and logos.
The agency will also be using its online sports panel to build a picture of Formula 1 fans' purchasing behaviour, as well as their brand awareness. The panel, called Sporting Insights, is made up of 50,000 sports fans.
Formula 1 continues to be a popular sport and last year audience figures for races rose by 5%. Audiences for qualifying rounds, meanwhile, jumped up 12%.
Earlier this month, Sports Marketing Surveys expanded its international operations by merging its Australian office with sponsorship research agency S-Comm Australia.