The global Online Classified Market is projected to soar at a CAGR of 20.2% between 2019 and 2023 asserts Market Research Future (MRFR). Online classified, also referred as online classified ads or online classified advertisements is a basically network of online advertisement. Online classified ads are primarily used via smartphone applications, search engines marketing (SEM), web-based applications, e-banners, social media platform, etc.
Such ads enable businesses and individuals to promote their product and service in a time-saving and cost-effective manner. Moreover, use of such has increased significantly owing their better reach-out capacity and product marketability options. Online classified ads have become of an important part of digital marketing. It is unique attributes facilitate a superior relationship between marketers and customers via platforms such as e-mail, text, app messaging etc.
Advances in internet technology has reflected favorably on the several industrial verticals. Rampant digitization in emerging economies such as China and India are resulted in a boom in business to customer (B2C) and business to business (B2B) models. In addition, the vast number of smartphone users and robust internet penetration has to development of dynamic digital platforms that are accessible though internet. This is supporting the adoption of the online advertisement in various industrial domains that are information driven.
The arrival of a spectrum of social media tools has allowed a faster growth of online advertising. The global Online Classified Market is also benefiting from the emergence of mobile advertisements.
Although there are countless marketing benefits of online classified ads, it also holds a certain degree of risk. Fraudulent and phishing activities through online ads has become major issue in recent years. These activities span across verticals real-estate, recruitment, matrimony, dating websites among others. Websites from various industrial backgrounds get impacted by gateway vulnerabilities, payment frauds, and cyber breaches that often result in system manipulation. A data released by the Australian Competition and Consumer Commission (ACCC), the country registered 2,729 reported cases of classified scam incurring around $1,088.6 million in 2018. For market players, fraudulent activities through online classified remains the threat, which also hinder the market growth to some extent.
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The study includes an in-depth analysis of the market based in type, business model, revenue source and region.
Based on type segment, the market has been segmented into health classified, service classified and production classified. Based on business model, the market has been segmented into vertical model and horizontal model. On the basis of revenue source, the market has been segmented into mobile classified, search engine marketing (SEM), website classified, banner classified and social media classified.
On the basis of region, the Online Classified Market has been segmented into Asia Pacific (APAC), Europe, North America and rest of the world (RoW). North America is a highly profitable market for online classified. The market growth in the region is mainly attributed to the rising number of internet users and rapid adoption of novel technologies to enhance efficiency in industries. In terms of value, Europe is second in the pecking order and will remain unchallenged for the position throughout the forecast period. In Europe, key market drivers include rapid expansion of internet based activities, adoption of new-age technologies and existence of pertinent infrastructure.
Microsoft Corporation (US), Claseek Pte. Ltd. (Singapore), Mudah.my (US), Jualo (Malaysia), Singapore Press Holdings Ltd. Co. (Singapore), Facebook (US), Masig (Singapore), Craigslist (US), Mitula Group (Spain) and Syoknya (Malaysia) are among the leading companies operating in the market.
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