Online Classifieds: A Convenient Way to Buy and Sell
Online classifieds have become a convenient way to buy and sell goods and services. They provide a platform for people to advertise their products and services, and for buyers to find what they are looking for, all from the comfort of their own homes.
The Online Classified Market Business Model was valued at USD 80.9 billion in 2022. The Online Classified market size is projected to grow from USD 100.9 Billion in 2023 to USD 381.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 24.80% during the forecast period (2023 - 2030).
What are Online Classifieds? Online classifieds are advertisements posted on websites or social media platforms to promote goods, services, or job opportunities. These ads are categorized based on the product or service being offered, making it easy for buyers to find what they are looking for.
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Benefits of Online Classifieds The benefits of online classifieds are plentiful. Here are some of them:
Easy to Use: Online classifieds platforms are easy to use, and no technical skill is required to post an ad. Anyone can list their products or services, and customers can easily search for what they need.
Wider Reach: Online classifieds have a wider reach compared to traditional classifieds. They are accessible to anyone with an internet connection, and ads can be listed on multiple platforms.
Cost-effective: Most online classifieds platforms are free to use, and the cost of placing an ad is much lower than traditional advertising.
Increased Visibility: Ads on online classified platforms can have higher visibility due to their ranking algorithms. Higher visibility means more chances of the ad being seen by potential buyers.
Time-Saving: Buyers can easily search for what they need within a short period of time from the comfort of their home or office instead of driving around or visiting different stores.
The online classified market is anticipated to witness healthy growth from 2021- 2030, a research report suggests. Growing at a CAGR of 24.80%, the market is projected to reach US$ 381.4 Billion by 2030. Affordability of online classifieds is expected to support the market growth along with increasing penetration of smartphones. As predicted by analysts, cyber breaches will negatively affect the market’s performance from 2021- 2030. During the forecast period, the market will be supported by rising penetration of media and affordable and easy means.
An increase in fraudulent activities on the other hand will challenge advertisement marketplace sector based organizations functioning in the global online classified market. Analysts have split the market into type, business model, and revenue source segments based on products and services. Advertisement marketplace-based companies have been profiled. Growing number of fraudulent activities is set to affect the global market during the forecast period 2021- 2030.
Competitive Landscape
The global online classified market research report brings a comprehensive study of type, business model, and revenue source market segments, regional analysis, and advertisement marketplace vertical based company details of key players. As the forecast period 2021- 2030 will bring new opportunities for the market owing to adoption of social platforms and increase in mobile advertisement With SWOT analysis of advertisement marketplace sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as rise in fraudulent activities and payment frauds, companies in the advertisement marketplace sector can change the way business is done.
Industry News
In the world of e-commerce, contraction continues unabated, and recently it was the time of the classified advertisements business. eBay stated today that it has struck an agreement to sell its Classifieds business unit to Adevinta, a classified advertisements publisher located in Norway that is majority owned by Norwegian publisher Schibsted. eBay would get $2.5 billion in cash and 540 million Adevinta shares as part of the $9.2 billion purchase. eBay now owns 44 percent of Adevinta and has a 33.3 percent voting share in the company. Adevinta's interest in eBay was first reported earlier this week, although at a considerably lower price tag of $8 billion.
Online Classified Market Players
- 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) and Microsoft Corporation (US)
Market Segmentation
The advertisement marketplace sector has seen growth across type, business model, and revenue source segments owing to increase in broadband service providers and growing internet penetration. To study the market, analysts have further segmented type, business model, and revenue source into banner classified, mobile classified, search engine marketing (SEM), social media classified, and website classified on the basis of revenue source. The market is further segmented into business model sub segment which is split into vertical model and horizontal model. Additionally, the online classified market on the basis of type is segmented into health classified, service classified, and product classified.
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The segmental analysis presented in the report provides advertisement marketplace field based organizations insights into key growth factors such as increasing global youth population as well as challenges such as gateway vulnerabilities the market will face from 2018- 2023. Broader platform over traditional advertising and cost-efficient and convenient are some of the key factors having an influence on advertisement marketplace industry based companies, suggest analysts as per the online classified market report. But the report also identifies payment frauds and random redirections as major threats companies in the advertisement marketplace will face till 2023.
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