The global online classified market is expected to reach US$32.33 billion in 2024, increasing at a CAGR of 9.40%, for the duration spanning 2020-2024. The factors such as growth in mobile advertisement, rise is use of mobile wallets, increasing number of smartphone users, rapid urbanization and rising usage of the internet would drive the growth of the market. However, the market growth would be challenged by lack of transparency and problems associated with tough ranking competition. A few notable trends include incorporation of augmented reality in advertisements, rising penetration of ecommerce, growing investments in artificial intelligence and integration of big data in advertising strategies.
The global online classified industry is expanding rapidly, covering a broad range of advertisements related to both buying and selling of the products as well as services. These advertising platforms provide individuals with both free as well as paid versions of listings. Various ecommerce companies, based on customer-to-customer businesses, are earning profitable growth from displaying sponsored ads on their webpages. Displaying classified ads proves to be lucrative source for the market growth of online classified on a global pace.
The fastest regional market is North America, due to the large pool of internet and smartphone users, who contributed to the huge online data and pay per click traffic. Europe and Asia Pacific also secured considerable share in the global market, owing to the technological advancements and growth of online media platforms for marketing. Further, the unpresented time of the COVID-19 pandemic is leveraging the importance of online shopping among people, which is acting a as a vital opportunity for marketers to increase the performance of their business through digital advertising and thereby is expected to drive the growth of the online classified market globally.
Scope of the report:
The report provides a comprehensive analysis of the global online classified market.
The major regional markets (North America, Europe, Asia Pacific and ROW) have been analyzed.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Naspers, Adevinta, Auto Trader Group, Scout24, Rightmove and Quikr) are also presented in detail.
Key Target Audience:
Online Ads Classified Service Providers
Government Bodies & Regulating Authorities