Research Nester has released a report titled “Online Classified Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global online classified market in terms of market segmentation by type, by advertisement type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global online classified market is segmented by type into website, mobile, social media, search engine marketing, banner and others, out of which, social media ads segment is anticipated to hold the largest market share owing to increasing users of social media backed by the rising internet penetration. Social media platform provides individuals and businesses to place their ads for better visibility and reach as these websites have significant traffic that runs in millions of visitors every month, thereby providing a lucrative revenue source. Additionally, availability of both free and premium ad platforms in the social media platforms, offer businesses an extra edge to experience the online classified advertisement system, which is also anticipated to drive the growth of the segment in the global online classified market.
The global online classified market is anticipated to achieve a CAGR of around 4% during the forecast period, i.e. 2020-2028. Increasing number of internet users and the rising penetration of the internet worldwide, along with the growing technological advancements which is allowing access to information on the web are some of the factors that are promoting towards the growth of the global online classified market. Moreover, growing awareness for online classified advertisements and the need amongst consumers for searching goods over the internet are some of the factors which are also anticipated to contribute towards the growth of the global online classified market. In the statistics by the International Telecommunications Union (ITU), the total number of individuals using the internet around the world peaked to 3924 million users from 2035 million users in-between 2010-2018 and grew at a growth rate of 1.93 times.
Regionally, the global online classified market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold the largest market share owing to high adoption rate for innovative technologies amongst businesses, increasing number of internet users in the region and rising awareness for online classified advertisements amongst individuals.
Increasing Adoption of Online Classified Advertisements
Individuals around the world are increasingly utilizing social media platforms owing to the need for socializing along with several other factors which include advent in technology and the increasing number of smartphone and computer users around the world. As such, businesses worldwide are taking the opportunity to advertise their product and raise consumer awareness through online classified advertisements via social media platforms and other digital marketing tools, as these tools are comparatively affordable than other mediums of advertisement and also saves time for the businesses. The benefit of cost cutting which helps businesses greater amount of business profits along with the ease of addressing a mass audience at low efforts is helping to raise the adoption of online classified advertisements. Such a factor is thereby anticipated to drive the growth of the global online classified market.
However, concerns regarding increasing cases of cybercrime and cyber threats along with the numerous fraudulent activities being observed in the recent era with the advent in technology are some of the factors anticipated to limit the growth of the global online classified market.
This report also provides the existing competitive scenario of some of the key players of the global hand sanitizer market, which includes company profiling of OLX Global B.V., Quikr India Private Limited, Craigslist, Locanto, Mudah.my Sdn. Bhd., Rightmove Group Limited (LON: RMV), FINN.no AS, eBay Inc. (NASDAQ: EBAY), Gumtree.com Limited and Oodle Holdings, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global online classified market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.