The global online classified market 2020, according to MRFR, is anticipated to expand at 20.2% CAGR during the forecast period.
The increase in ads rising mobile devices is one of the factors responsible for this market ‘s growth during the forecast era. Throughout the digitalization age, the increase in the use of electronic devices such as smartphones, laptops and tablets has made a groundbreaking impact. In fact, technical innovation has had a transformative effect across vertical lines of industry. Growing technology projects in the developing economies, such as Digital India, have contributed to business-to – business (B2B) adoption and business-to – customer (B2C) business models. In addition, an growth in mobile use and internet penetration has provided convenient medium for individuals and companies to meet their target audience and sell their goods and services. The growing penetration of social media advertisement channels and the increase of internet ads across mobile apps are some of the reasons anticipated to fuel the development of the globally classified online industry. Increasing smartphone use is closely related to internet penetration in both developed and developing economies, which propels web ads in various market verticals. In addition, the demand in developing markets such as China, India, Brazil, Mexico and some European countries is gathering momentum as customers’ tastes move from brick and mortar department stores to e-commerce platforms such as Flipkart, Amazon and eBay. In fact, the emerging pandemic situation at COVID 19 has also intensified the need for e-commerce, thus increasing demand for a classified online market.
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Certain contributing factors for marketing growth through mobile ads include growing 3 G and 4 G networks, raising the availability of smartphones and data rates, increasing social media penetration and a variety of services and online content.
The industry, however, has seen an rise in the amount of illegal operations across the industries. The jobs, real-estate, automobile, family, and dating websites are a huge number of illegal practices. Therefore, an increase in the number of fraud operations during the evaluation period is likely to hinder the development of the online classified industry.
The online classified market has been analyzed based on the basis of business model, revenue source, type, and region.
The revenue source segment has been divided into search engine marketing (SEM), website classified, social media classified, mobile classified, and banner classified.
The business model has been bifrucated into horizontal model and vertical model.
Furthermore, the type segment is categorized into service classified, product classified, and health classified.
The categorized online industry has been segmented by area into Asia-Pacific, North America, Europe and the Middle East & Africa , and South America. Thanks to the rising number of internet users and the accelerated introduction of new technology to boost productivity and fulfill day to day work, North America dominated the online classifieds industry in 2017. While Asia-Pacific is expected to be the fastest growing region on the market from 2018 to 2023 due to the growing number of companies and significant digital advertising investments.
This is also expected that Europe will be in second position in terms of market share for the online classifieds industry during the appraisal period. The crucial drivers for the growth of the demand for online classifieds in this area include an upsurge in the number of internet users and the fast introduction of new technology to boost productivity and perform everyday jobs.
The key players of global online classified market are Mitula Group (Spain), Facebook (US), Claseek Pte. Ltd. (Singapore), Microsoft Corporation (US), Mudah.my (US), Jualo (Malaysia), Syoknya (Malaysia), Craigslist (US), Singapore Press Holdings Ltd. Co. (Singapore), and Masig (Singapore).
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