Online Classified Market to Expand Remarkably in APAC
Posted by Vilas MRFR on October 16th, 2019
Market Research Future (MRFR) has recently published an in-depth report on the global online classified market, compiling the key factors that can impact the market over the forecast period of 2018-2023. As per MRFR's analysis, the market is likely to attain a valuation of USD 463,033.3 Mn at a CAGR of 20.2% by the end of 2023.
The online channel has gained massive popularity as a medium of advertisements. Online advertisements circulated through mobile applications, search engine marketing (SEM), banners, social media platforms, and other means of promotion help to efficiently reach out to target audience. The proliferation of smart devices among consumers has created a supportive dais for the growth of the online classified market. Moreover, deep penetration of internet services along with shifting consumer preference from brick and mortar stores to online shopping has reflected positively on the market growth. Advertisers are aiming to pitch their prospective buyers through an online medium by increasing their online presence by the mode of online classifieds.
Technological advancements, coupled with the emergence of revolutionary business models such as business to business (B2B) and business to customer (B2C) too remains a prime factor influencing the market growth. Online classifieds are a convenient and cost-effective way of reaching out to consumers and market products. The expansion of 3G and 4G service network and rising affordability of smart devices and data tariffs are other factors fostering the growth of the market.
On the other hand, the growth of the market might be hindered by a considerable rise in online fraudulent activities. various malicious websites are found on the internet, which involves consumers in cyber breaches and payment frauds.
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The online classified market has been segmented based on revenue source, business model, and type.
By revenue source, the online classified market has been segmented into website classified, mobile classified, social media classified, search engine marketing (SEM), and banner classified.
By business model, the online classified market has been segmented into vertical and horizontal model.
By type, the online classified market has been segmented into health classified, product classified, and health classified.
Masig (Singapore), Microsoft Corporation (US), Syoknya (Malaysia), Claseek Pte. Ltd. (Singapore), Mitula Group (Spain), Jualo (Malaysia), Craigslist (US), Singapore Press Holdings Ltd. Co. (Singapore), Mudah.my (US), and Facebook (US) are the notable players in the online classified market.
By region, the Online Classified Market has been segmented into North America, South America, Europe, the Middle East & Africa (MEA), and Asia Pacific (APAC).
In 2017, North America held the most significant share of the online classified market. Huge base of internet users combined with the fast adoption of innovative technologies is boosting the market growth in North America.
The APAC is estimated to be the fastest growing market for online classified market. An increasing number of business enterprises who are outlaying massive amounts on online advertising to reach out to a broader consumer base is supporting the growth of the market. Expanding user base of internet in the region has provided lucrative growth opportunities to the market. Significant investment in digital advertising is also auguring market growth. The e-commerce industry is also thriving in the region which has prompted various companies to resort to online classifieds for pitching their prospective buyers.
Europe is anticipated to follow North America's lead over the forecast period. The growth of the Europe market can be attributed to the high penetration of the internet and the expansion of online media platforms in the region.
June 2019 - Adevinta, Norwegian classified ad company acquired two online businesses in France - Locasun, and PayCar. The acquisition would help in the development of its Leboncoin online platform for buyers and sellers. Locasun is a holiday rental and travel marketplace while PayCar is involved in peer-to-peer payment for second-hand vehicles.
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LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 14
TABLE 2 LIST OF ASSUMPTIONS 17
TABLE 3 GLOBAL ONLINE CLASSIFIED MARKET, BY REVENUE SOURCE, 2014–2023 (USD MILLION) 41
TABLE 4 GLOBAL ONLINE CLASSIFIED MARKET, BY BUSINESS MODEL, 2014–2023 (USD MILLION) 44
TABLE 5 GLOBAL ONLINE CLASSIFIED MARKET, BY TYPE, 2014–2023 (USD MILLION) 47
LIST OF FIGURES
FIGURE 1 GLOBAL ONLINE CLASSIFIED MARKET: MARKET STRUCTURE 17
FIGURE 2 GLOBAL MARKET SIZE & MARKET SHARE BY REGION/COUNTRY (2017 VS 2023) 19
FIGURE 3 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 19
FIGURE 4 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 20
FIGURE 5 REST OF THE WORLD MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 20
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About the AuthorVilas MRFR
Joined: June 3rd, 2019
Articles Posted: 51
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