The global market for classified platforms is anticipated to grow from 8,964.9 million in 2022 to US$ 25,879.2 million by 2032, at a CAGR of 11.2%.
Although the paradigm shift from print to digital has wreaked havoc on the former’s bottom line, it has driven revenues for the latter. As traditional media organizations make the move to digital formats, a new category of websites and apps has had users hooked.
Classified advertising websites, such as Olx, and Groupon have gained massive popularity over the years, influencing new entrants to leverage on the behemoth opportunities available in the market.
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The global classified platform market is currently dominated by online players, and the status quo will only become stronger in the future. The success of online classified platforms, such as Craigslist, Olx, Quickr, Wallapop, let go, and VarageSale have caught the attention of venture capitalists and budding entrepreneurs.
In addition to e-commerce websites and social platforms, the online classified platform market has emerged as a lucrative investment option for angel investors. The global classified platform market has been dominated by Craigslist for over two decades now. However, considering the recent spate of investment in the classified ads sector, Craigslist will finally have competition.
However, new entrants in the market will have to quell challenges Craigslist has been grappling with for years – vulnerability to scams and dummy offers. Upcoming players will have to build trust and reliability to stay profitable in the long run.
Round-the-clock customer support, stringent quality and verification checks, and consumer feedback through ratings and buyer experience are effective ways through which classified ad companies can address some of the challenges prevalent in their market.
Considering the ever-increasing barrage of online threats and hacks, classified ads must have robust security in place, which offers both preventive and recovery mechanisms.
An increase in smartphone ownership and the proliferation of the internet in populous countries of the world is expected to have a positive impact on the global classified platform market. The amalgamation of e-commerce and classifieds will open up the market, posing challenges to the traditional Goliaths, like Craigslist.
Overall, the global classified platform market is poised for strong growth, with the entry of new players, consolidation, and technological innovations expected to grab headlines in the future.
Websites/apps that follow the horizontal mode of operation offer a broad range of products, including mobiles, furniture, books, accessories, real estate, and jobs. Classified ad websites that offer niche services, such as specialized cars, consumer electronics, and real estate follow the vertical operation model.
Craigslist Inc., Finn.no, Gumtree (eBay), Quikr India Private Limited (CommonFloor.com), OLX, Inc., Rightmove plc, and Backpage.com are some of the key players in the global classified platform market.
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Key Segments Profiled in the Classified Platform Market Survey
By Operating Model:
- Horizontal
- Vertical
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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