Online Classified Market to be Worth USD 380.92 Billion at a 24.8% CAGR by 2030 - Report by Market Research Future (MRFR)
Online Classified Market Growth Drives by Businesses Looking to Boost their Marketing Efforts
New York, US, Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Online Classified Market Information Report: Information By Revenue Source, Business Model, Type - Global Forecast to 2030”, valuation to escalate to USD 380.92 Billion by 2030, growing at a 24.8% CAGR throughout the forecast period (2021-2030).
Online Classified Market Overview
The global online classified market is growing steadily, witnessing vast adoption among various businesses. Online classified has become imperative to increase business revenues, presenting unique opportunities for internet advertising. Given the spurring rise in digital media and social media platforms, businesses are increasingly using these services to advertise their products and services online. With the emergence of targeted advertising concept/modules, the market is expected to reach colossal heights.
Players involved in the online classifieds advertisements market are,
Masig (Singapore)
Singapore Press Holdings Ltd. Co. (Singapore)
Syoknya (Malaysia)
Jualo (Malaysia)
Craigslist (US)
my (US)
Mitula Group (Spain)
Claseek Pte. Ltd. (Singapore)
Facebook (US)
Microsoft Corporation (US) and Others.
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The term Online Classified refers to the advertising on different internet sites. The operator or administrator of these Internet sites does not involve consummating the transaction or providing any information other than the seller's contact details. Online advertisements serve the same purpose as the classifieds section of any print media, and the seller's contact information is continuously available to any visitor.
These online classified sites do not provide any information about a potential buyer to the seller. They do not charge any fee/commission for such transaction to the seller or potential buyers other than the fee for listing sellable goods. This listing fee is a price for flashing the ad on the website and is chargeable before or when the ad appears.
Online Classified Market Segments
The online classified market is segmented into advertising types, business models, revenue sources, and regions. Of these, the type segment comprises health & wellness, services & products, and other classifieds. The business model segment comprises vertical and horizontal models. Similarly, the revenue source segment comprises search engine marketing (SEM), banners, social media, and mobile & website classifieds. Further, the region comprises the Americas, APAC, MEA, Europe, and the rest of the world.
Online Classified Market Report Scope:
Report Metrics | Details |
Market Size by 2030 | USD 380.92 Billion |
CAGR during 2021-2030 | 24.8% |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Key Market Opportunities | Increase in Mobile Advertisement to Create Robust Opportunities |
Key Market Drivers | Affordability of Online Classified to Bolster Market Growth |
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Online Classified can Reach a larger base of Digital Audiences
online classified market reaching mass audiences is often challenging, especially for small businesses with limited marketing budgets. Besides, social media and search engine ads consume a large share of allotted budgets. In such scenarios, free advertising sounds to be an advantageous option. On the other hand, continually increasing completion due to new market entrants with sophisticated technology and budgets makes small businesses turn to online classifieds.
Classified ad sites boost marketing efforts, allowing to direct traffic to the users' company website or physical business location. Growing numbers of businesses are using these advertising sites to market their products or services among the most influential generation of consumers today. Online advertising has become a powerful tool to reach a larger base of digital audiences at no or negligible costs.
In addition to connecting to larger, more engaged audiences, these advertising sites also offer effective local marketing opportunities with analytical services such as highlighting categories, etc., a platform to find employees, other service providers, resale used equipment & inventory, and so on. As digitization grows further, business owners will have plenty of opportunities to reach mass audiences without straining their marketing budgets much.
Online Classified Market Regional Analysis
North America stands as the largest market for online classifieds globally. Factors such as the vast base of internet users and large digitization across the region drive online classified market growth. Besides, significant technology upgrades and innovative technologies that can improve the efficiency and performance of online marketing activities boost the market size. With the rising popularity of online classifieds in vertical business models, the US and Canada account for significant market shares.
Europe is a rapidly growing market for online classified sites, witnessing colossal traction. The strong presence of required expertise, such as online analysts, social media managers, videographers, and e-commerce companies, substantiate market revenues. Moreover, the proliferation of artificial intelligence and big data accelerates the region's market shares. Also, technological advances and the rise in online marketing media platforms positively impact online classified market growth.
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The online classified market is brisk in the Asia Pacific region. Increasing investments in digital advertising and the rising number of businesses create significant market opportunities. Additionally, the growing popularity of horizontal classified models among businesses and the increasing use of classified platforms by consumers to search for merchandise across different categories escalate the region's market value. India is rapidly emerging as a profitable market for online classifieds in this region.
Industry Trends
online classified market with technological advances, online classified sites would allow users to pursue creative strategies, such as optimizing Google Business Profiles for SEO, posting organic content to social media & blogs, and so on. Market players are investing significantly to improve their service portfolios and bringing advanced technologies that can boost their customer base and generate data around content performance & user behavior.
The number of classified ad websites and marketplaces has increased significantly over the past few years. Integrating ubiquitous technologies, such as AI and ML, would provide businesses with several avenues to foster revenues. The proliferation of personal computing and mobile phones pushes the market value, enabling advertisers to deliver original content straight to consumers.
Online Classified Market Competitive Analysis
Highly competitive, the online classified market appears to be fragmented with the presence of numerous well-established players. These players invest heavily in enhancing product quality and global expansion. Key players identify the need for world-class online classifieds and invest in state-of-the-art facilities to provide services.
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For instance, on Sep.26, 2022, Adevinta ASA (ADE) announced the sale of its Mexican online classifieds businesses Segundamano and Vivanuncios to a Latin American online real estate marketplaces operator - Navent Group. Both brands will continue to operate together in the market, with Adevinta's Mexican classifieds operations will complement Navent's existing real estate listing offerings.
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