In a recent published report, Kenneth Research has updated the market report for Online Classified Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Online Classified Market products.
The Online Classified Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
Market analysis
The online classified advertising is a part of digital marketing that additionally permits end clients to communicate straightforwardly with the sponsors through digital marketing services, for example, mail, text, and others. Expanding computerized activities, for example, Digital India, in the developing economies has prompted the appropriation of business to business (B2B) and business to customer (B2C) business model.
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Also, an expansion in the usage of smartphones and Internet infiltration have given people and endeavors a helpful stage to achieve their intended target audience. Online advertisement to a great extent utilized crosswise over industry verticals to give data and promote their products and services. Online advertisement is mostly brought out through web-based applications, mobile applications, search engine marketing (SEM), banners, social media platforms, and others. However, the market may be hindered due to the growing cases of fraudulent activities occurring in various sectors like real-estate, recruitment, automotive, and matrimony. The global online classified market is projected to grow at 20.2% CAGR during the forecast period (2017-2023).
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Market segmentation
The global online classified market has been classified on the basis of its business model, revenue source, type, and regional demand. Based on its revenue source, the market has been categorized into mobile classified, website classified, social media classified, banner classified and search engine marketing (SEM). The business model has been classified into the vertical model and horizontal model. On the basis of its type, the market is categorized into service classified, health classified and product classified.
Regional analysis
Geographically, the global online classified market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
Craigslist (US), Jualo (Malaysia), Singapore Press Holdings Ltd. Co. (Singapore), Masig (Singapore), Microsoft Corporation (US), Facebook (US), Claseek Pte. Ltd. (Singapore), Mitula Group (Spain), Mudah.my (US), among others are some of the major players in the global online classified market.
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