In a recent published report, Kenneth Research has updated the market report for Online Classified Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Online Classified Market products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
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The global online classified market is expected to expand at ~20.2% CAGR during the forecast period. Online classified, also referred to as online classified advertisements or online classified ads, is a channel of online advertisement which is largely used across industry verticals to provide information and promote their products and/or services. Online advertisements are mainly carried out through mobile applications, web-based applications, search engine marketing (SEM), social media platforms, banners, and other means of promotion. It offers enterprises and individuals an affordable and time saving platform to reach their target audience and market their products and services. The online classified advertisement forms a part of digital marketing that also allows end users to interact directly with the advertisers through digital marketing services such as text, mail, and others.
The Final Report will cover the impact analysis of COVID-19 on this industry:
Technological advancement has made a revolutionary impact across industry verticals. Increasing digital initiatives, such as Digital India, in the emerging economies has led to the adoption of business to business (B2B) and business to customer (B2C) business models. Moreover, an increase in smartphone adoption and Internet penetration have provided individuals and enterprises with a convenient platform to reach their target audience and market their products and services.
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In this regard, online classifieds advertisements, which forms a part of digital marketing, allow end users to interact directly with the advertisers through digital marketing services such as text and mail. It is a type of online advertisement largely used across industry verticals to provide information and promote their products and/or services. Online advertisement is mainly carried out through mobile applications, web-based applications, search engine marketing (SEM), social media platforms, banners, and others. It offers enterprises and individuals an inexpensive and time-saving platform to reach their target audience and market their products and services.
The increasing adoption of social media platforms for advertising and rise of mobile advertisement through mobile devices are some of the factors expected to boost the growth of the global online classified market.
However, the market has witnessed a rise in the number of fraudulent activities across the sectors. A large number of fraudulent activities occur in recruitment, real-estate, automotive, matrimony, and dating websites. These websites repeatedly observe cyber breaches, payment frauds, gateway vulnerabilities that could eventually lead to system manipulation. According to a report by the Australian Competition and Consumer Commission (ACCC) 2017, published in May 2018, the country witnessed 2,729 reported cases through classified scams which accounted USD 1,088.6 million and 3,763 cases of scams on dating sites accounting for USD 20,530.5 million of monetary losses. Therefore, increase in number of fraud activities is likely to hinder the growth of the online classified market during the assessment period.
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Global Online Classified Market, By Region, 2017
Geographically, the online classified market has been categorized into four different regions, namely North America, Europe, Asia-Pacific, and the rest of the world. North America was leading the online classified market in 2017, whereas Asia-Pacific is expected to be the fastest growing market in the online classified market with the highest CAGR. Furthermore, Europe is expected to be at the second spot for the online classified market in terms of market share during the assessment period.
Synopsis
The online classified market has been segmented on the basis of revenue source, business model, type, and region. The revenue source segment has been categorized into website classified, mobile classified, social media classified, search engine marketing (SEM), and banner classified.
The business model has been categorized into horizontal model and vertical model. Furthermore, the type segment is categorized into product classified, service classified, and health classified
Regional Analysis
The online classified market, by region has been segmented into Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America. North America led the online classifieds market in 2017 due to the growing number of internet users and fast adoption of innovative technologies to improve efficiency and carry out day to day jobs. Whereas, Asia-Pacific is expected to be the fastest growing region in the market from 2018 to 2023 due to the increasing number of businesses and large investment in digital advertising.
Also, Europe is expected to be at the second spot for the online classifieds market in terms of market share during the assessment period. The key driving factors for the growth of the online classifieds market in this region include the increase in the number of internet users and fast adoption of innovative technologies to improve efficiency and carry out day to day jobs.
Companies Covered
The key players of global online classified market are Microsoft Corporation (US), Facebook (US), Claseek Pte. Ltd. (Singapore), Mitula Group (Spain), Mudah.my (US), Craigslist (US), Jualo (Malaysia), Syoknya (Malaysia), Singapore Press Holdings Ltd. Co. (Singapore), and Masig (Singapore).
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Key Developments
In September 2016, Mitula Group acquired Dot Property Co., Ltd., a digital media company to expand its market presence and customer base.
Market Segmentation
By revenue source—website classified, mobile classified, social media classified, search engine marketing (SEM), and banner classified
By business model—horizontal and vertical model
By type—product classified, service classified, and health classified
Key questions addressed by the report
What was the historic market size (2017)?
Which segmentation (Component / Solution/ Industry is driving the market?
What will be the growth rate by 2024?
Who are the key players in this market?
What are the strategies adopted by key players?
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