The global online classified ad platform market was valued at $12 billion in 2015 and is expected to surpass $24 billion by 2020, says Technavio.
Technavio’s media and entertainment services portfolio has announced its latest market research report on online classified ad platforms for the forecast period, 2016-2020. This market study discusses the major drivers and key emerging trends that will influence the growth of the global online classified ad platform market during the forecast period. Some of the top vendors listed in this industry analysis include Craigslist, eBay, OLX, and Oodle.
In terms of geographical analysis, the Americas will account for the largest share of the global market and is expected to post a revenue of almost $10 billion by 2020. The US will emerge as the key revenue-generator in the region.
“One of the key trends in the global market for online classified ads is the increasing popularity of RTB. RTB advertising involves the buying and selling of online advertising display inventory through a bidding process. It enables advertisers to bid for online inventory that is best-suited for their buyer profile on online classified ad platforms. It is currently the most popular type of programmatic advertising, which has an auction environment provided by advertising exchanges/marketplaces,” Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growth in mobile classified advertising
The market for mobile classified advertising has been growing in tandem with the penetration of mobile devices such as smartphones and tablets. Mobile Internet advertising can host a variety of advertisements such as mobile videos and in-app advertisements via different platforms, which increases their outreach. In 2015, mobile classified advertising accounted for nearly 40% of the total online classified ad platform market. This trend is likely to continue during the forecast period owing to increased smartphone penetration and strong broadband infrastructure. Some other key factors fueling the growth of the mobile classified ad platform is the rapid growth of mobile Internet advertising in developing economies such as China, India, Indonesia, and South Korea in APAC.
Low cost of online advertising
Advertising plays a crucial role in creating brand and product awareness, especially in remote areas, using effective means of communication. Though advertising is one of the best ways to sell products, it poses quite the challenge for manufacturers with low budgets. Online advertising allows advertisers to advertise their products at a minimal or no cost as opposed to offline outdoor advertising platforms. Online classified advertising also enables manufacturers to list their products on normal or featured ad platforms and allows them to count the number of views for their ads.
Rapidly declining print advertising
Print advertising is currently witnessing a drastic decline in preference due to the increasing adoption of digital media advertising. This trend is spurred by advantages of digital media advertising such as cost efficacy and penetration. For instance, classified ads, which are one of the major segments for revenue in print advertising, was not able to compete with Craigslist. Craigslist provided a new model of classified ads using digital media advertising. The popularity of classified ads in newspapers declined as the service provided by Craigslist was free.
Some of the other prominent vendors identified in this report are backpage.com, Kedna, Kugli.com, Locanto, PennySaver, Recycler Classified Network, Sell.com, Singapore Press, Trovit Search, USFreeads, and Yakaz.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Online Classified Ad Platform Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Internet Advertisement Market 2016-2020
- Global Mobile Ad Spending Market 2016-2020
- Global Social Networking Market 2016-2020
- Global Digital Marketing Spending Market 2016-2020
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