E-commerce Boom Fuels Online Classified Market Growth.
New York, USA, May 25, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Online Classified Market Information by Revenue Source, Business Model, Type, and Region – Forecast till 2030”, the market of Online Classified could thrive at a rate of 24.80% between 2023 and 2030. The market size will be reaching around USD 381.4 Billion by the end of the year 2030.
Market Synopsis:
Online classified refers to the advertising of products, services, and job opportunities through online platforms. Online classified platforms allow businesses and individuals to post their products or services for sale, rent, or lease, and to connect with potential customers or buyers. These platforms typically offer a wide range of categories, such as real estate, automotive, jobs, and household items, and provide users with a simple and easy-to-use interface to search and filter listings.
Online classified platforms are widely used by businesses and individuals to reach a wider audience and expand their customer base. They provide a cost-effective alternative to traditional advertising methods such as print or TV advertisements, which can be expensive and have a limited reach. Online classified platforms also offer convenience, as users can access and post listings from anywhere, at any time, using their mobile devices or computers.
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Market Competitive Landscape:
The affluent companies in the Online Classified industry include
- Craigslist
- OLX
- eBay Classifieds
- Facebook Marketplace
- Letgo
- Gumtree
- Kijiji
- Mercari
- Carousell
- OfferUp
Scope of the Report – Online Classified Market:
| Report Metrics | Details |
| Online Classified Market Size by 2030 | USD 381.4 Billion (2030) |
| Online Classified Market CAGR during 2022-2030 | 24.80% |
| Base Year | 2022 |
| Forecast | 2023-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | Affordability of Online Classified to Bolster Market Growth. Increase in Mobile Advertisement to Create Robust Opportunities |
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Market Segmentation:
- By Revenue Source – The Revenue Source in the market includes Dust Collectors, Fume & Smoke Collectors, & Others.
- By Business Model – The Business Model in the market includes a Horizontal Model and Vertical Model.
- By Type – The Type in the market includes Product Classified and Service Classified.
Market Update (April 2021):
eBay announced that it had completed the sale of its Classifieds business to Adevinta ASA, a Norwegian online classifieds company, for $9.2 billion. The deal resulted in the creation of the world’s largest online classifieds group, with a presence in 20 countries across Europe, Latin America, and North Africa.
Market USP Covered:
Market Drivers:
The growth of the online classified market can be attributed to several factors, including the increasing use of mobile devices, the rising popularity of e-commerce, and the growth of the sharing economy. With the increasing penetration of smartphones and internet connectivity, more people are turning to online platforms for their buying and selling needs. Additionally, the growth of e-commerce and the sharing economy has created new opportunities for online classified platforms to connect buyers and sellers.
Another driving factor for the online classified market is the increasing demand for niche and specialized platforms. As consumers’ preferences become more specific, online classified platforms that cater to niche markets such as luxury goods or vintage items are gaining popularity.
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Market Restraints:
One of the major restraints for the online classified market is the increasing competition from social media platforms and search engines. With the rise of social media platforms such as Facebook and Instagram, and the growing dominance of search engines like Google, online classified platforms are facing increased competition for users’ attention and advertising revenue.
COVID 19 Analysis:
The COVID-19 pandemic has brought about a shift in consumer behavior as people have had to adapt to new ways of shopping due to restrictions on physical movement and social distancing measures. This has resulted in a significant increase in the number of people turning to online classified platforms for their buying and selling needs. With the closure of physical stores and the growing preference for contactless transactions, the online classified market has experienced a surge in demand for its services.
Post-COVID, the online classified market is expected to continue its growth momentum. The pandemic has forced many consumers to become accustomed to online shopping, and this trend is likely to persist. Furthermore, the convenience, ease of use, and accessibility of online classified platforms are expected to drive market growth. The increasing adoption of smartphones, high-speed internet, and the growing popularity of social media are also expected to drive market growth. As a result, the online classified market is poised to continue its upward trajectory in the post-COVID era.
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Regional Insights:
The online classified market is growing rapidly in several regions around the world, with North America, Europe, and Asia Pacific being the top three regions. North America is the largest market for online classifieds, with the United States accounting for a significant portion of the market. Europe is the second-largest market, with countries such as Germany, France, and the U.K. being major players. Asia Pacific is the fastest-growing market for online classifieds, with countries such as China, India, and Japan leading the way. The growth in Asia Pacific can be attributed to the increasing internet penetration and the growing middle class in the region.
Browse the Japanese language version of the Online Classified Market Report
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