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The online classified AD platform market size is estimated to grow at a CAGR of 10.7% between 2022 and 2027. The market size is forecast to increase by USD 23,116.33 million. The growth of the market depends on several factors, including the increasing internet and smartphone penetration, the growing demand for convenience and cost-effectiveness, and the improved user experience.
This online classified ad platform market report extensively covers market segmentation by business segment (horizontal and vertical), type (free type and pay type), and geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing internet and smartphone penetration are notably driving the market growth, although factors such as the short life span of online classified ads may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing internet and smartphone penetration is the key factor driving the growth of the global online classified ad platform market. As more and more people gain access to the internet and smartphones, online advertising platforms are in high demand. The proliferation of the internet and smartphones has made online advertising platforms accessible to more people anytime, anywhere. This convenience makes online advertising platforms popular with both buyers and sellers. Furthermore, with the spread of the Internet and smartphones, it has become easier to post and view classified ads on the go. Due to this, more and more people are using their smartphones to view and post ads, hence the mobile classified ads market is growing.
As a result, online classified ad platform providers have invested heavily in mobile applications to cater to the growing number of mobile users. Thus, increasing internet and smartphone penetration is a major driver in the global online classified ad platform market, and this trend is expected to continue as technology continues to advance. With the increasing adoption of the Internet and smartphones, more people are going online to search for products and services. Thus, these factors drive the growth of the global online classified ad platform market during the forecast period.
Integration of AI and machine learning is the primary trend in the global online classified ad platform market. The integration of AI and machine learning is becoming increasingly common in online advertising platforms. This technology is used to improve search results, suggest relevant listings to users, and automate various aspects of our platform such as fraud Detection and Ad Placement. These technologies help classified advertising platforms personalize their services, improve user experience, and optimize advertising revenue.
AI algorithms can be used to analyze user behavior, preferences, and search history to provide personalized recommendations for ads and products. Machine learning can be used to optimize ad targeting and pricing based on user engagement and conversion rates. By leveraging these technologies, online classified ad platforms can improve their competitiveness and attract more users and advertisers, which will drive the growth of the global online classified ad platform market during the forecast period.
The short life span of online classified ads is a major challenge to the growth of the global online classified ad platform market. Online classified ads are growing in importance, but there are several drawbacks that have a significant impact on the advertising market. Advertisers are making great efforts to promote their products in a way that has a longer lifespan and impacts their audience. short. Many advertisers advertise on regular advertising platforms because they are free. The platform publishes dozens of new ads within an average of 30 minutes. As the number of newly published ads increases, existing ads will disappear and continue to drop in position in the list until they stop generating traffic. This allows advertisers to run multiple ads to properly reach the audience and capture the consumer's attention.
Unlike traditional forms of advertising such as billboards and TV commercials, the life span of online classified ads is not based on on-air time. They rely on the availability of space on advertising platforms. Furthermore, they are often buried among other free ads which are unrelated to the advertiser business and can reduce the ad visibility. Thus, it is less likely for advertisers to derive any substantial benefits from posting ads on normal ad platforms. Thus, these factors will challenge the growth of the online classified ad platform market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Online Classified Ad Platform Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adpost: The company offers online classified ad platform for the sale of cars and motorcycles.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the horizontal segment will be significant during the forecast period. Horizontal segmentation in the global online classified ad platform market refers to the categorization of online classified ads based on broad and diverse product or service categories
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The horizontal segment was valued at USD 17,202.00 million in 2017 and continue to grow by 2021. The horizontal platform aims to serve a wide range of consumers by providing a comprehensive market for various goods and services. This type of segmentation allows the shopper to browse and compare offers from different categories in one place, making online shopping convenient and efficient. Online advertising platforms provide a common platform for businesses and individuals to advertise their products and services. This type of segmentation covers a wide range of needs such as real estate, automobiles, jobs and personal services. By offering a wide range of categories, horizontal segmentation allows companies to reach a wider audience, resulting in increased visibility and revenue. Horizontal segmentation also has significant benefits for consumers. Shoppers have access to a wide range of products and services, making it easier for them to compare prices and make informed decisions. Moreover, horizontal platforms offer consumers an efficient way to find niche products and services not available on vertical platforms, which are expected to drive the global online advertising platform market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, manufacturers are expected to increase their investments in internet advertising. On average, online advertising is more economical than other advertising options, such as billboards and hoardings. With online advertising, manufacturers can save money, and these funds can be diverted to other core functions of the company. Classified ads are highly popular in the region. However, print media has higher visibility of classified ads than online platforms. The US is the leading contributor to the global online classified ad platform market and holds the first top position in terms of revenue. The country accounts for the highest revenue share as it was the initial adopter of the online mode of advertising. Most of the other prominent vendors are based in the US, further strengthening the revenue inflow of the market in the country, which is expected to drive the growth of the regional market during the forecast period.
In 2020, COVID-19 had a positive impact on the regional classified ad platform market. However, market players such as Craigslist.com helped these businesses market and sell their products through their free classified ad platforms. Furthermore, consumers in the region preferred to shop online due to stay-at-home orders issued by the regional governments. Online retail sales grew in countries such as the US and Canada. The increasing consumer preference toward online platforms to make purchases will continue to drive the growth of the regional market during the forecast period.
The online classified AD platform market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Online Classified Ad Platform Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.7% |
Market growth 2023-2027 |
USD 23,116.33 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.0 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
Adpost.com Classifieds, ADvendio Europe Ltd., Backpage Classifieds, Craigslist Inc., eBay Inc., freeclassifieds.com, Geebo Inc., Hoobly classifieds, LIFULL CONNECT S.L., OLX Global BV, Oodle Holdings LLC, Premier World Ltd., Publishing Properties Ltd., Quikr India Pvt. Ltd., SaleSpider Media Inc., Softfornet Solutions Ltd., USNetAds LLC, WantedWants.com, Wilshire Classifieds LLC, and Yalwa GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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