The global customer-to-customer community marketing software market is expected to garner a market value of US$ 2.8 Billion by 2032 while recording a CAGR of 6.2%. The growth of the market can be attributed to the increasing public engagement and the surging importance of community engagement platforms across the globe. Also, with the rising ownership of smartphones, the industry is likely to benefit.
Furthermore, the surged popularity of online auctions has enhanced the market size. Benefits offered such as; larger reach, more buyers, and cost-effectiveness, among others, are likely to support the market expansion. Integration of artificial intelligence in the C2C community marketing software is expected to offer various opportunities to the market. Also, with the presence of various startups, the market is likely to flourish in the assessment period.
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For instance, in April 2022, a Nashville-based firm, known as Crank Farm, rolled out a social auction platform that focuses on cyclists who want to sell or buy performance bicycles. On the contrary, risks associated with fraudulent activities in C2C marketing platforms are likely to hamper the market in the forecast period. However, the implementation of stringent laws in several countries, such as Australia, is expected to act as a significant counter, which can benefit the industry in the coming time.
Key Takeaways From The Customer-To-Customer (C2C) Community Marketing Software Market:
- The cloud-based segment to expand at a CAGR of 6.1% during the forecast period
- The U.S market size is to reach US$ 1 Billion by the end of the 2022-2032 forecast period
- Market in the UK to expand at a CAGR of 4.8% from 2022 to 2032
- Japanese market to record a CAGR of 4.5% in the assessment period
- Market in South Korea to exhibit a CAGR of 4% from 2022- to 2032
- The retail and e-commerce segment exhibited a growth rate of 5.7% during the assessment period
Competitive Landscape:
Players in the market are focusing on expanding their reach across the globe through various strategies such as; acquisitions, partnerships, and product launches, among others. Some of the key players in the market include Meta, Bevy, LinkedIn Corporation, Tribe Technologies Inc., and Meetup Pro. Key developments in the sector are:
- In July 2021, Bevy, a US-based firm that focuses on enabling businesses to build community, acquired Eventtus. Eventtus is an Egyptian startup, which creates even apps that enable organizers to engage attendees. Customers will experience benefits such as a white-labeled community event engine, ticketing, and registration that is fully integrated and powered by a matchmaking algorithm, and interactive sessions that offer Q&A, polls, and reactions.
- In February 2022, LinkedIn acquired Oribi, a Tel-Aviv-based marketing analytics company. The initiative was taken in an effort to offer a more comprehensive suite of marketing solutions to businesses. It was LinkedIn’s first-ever Israeli acquisition.
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Customer-To-Customer (C2C) Community Marketing Software Market Segmentation:
By Type:
- On-Premises
- Cloud-based
By Application:
- Retail and e-Commerce
- Health and Life Sciences
- BFSI
- Transport and Logistics
By Enterprise Size:
- Small and Medium Enterprises
- Large Enterprises
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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