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Encouraging More Businesses to Advertise on Social Media Businesses are turning to social media like Facebook and Instagram to connect with their audiences and create better experiences for customers. This shift aims to grow customer bases and enhance consumer loyalty. According to Omnicore Agency, a digital marketing solutions provider, about 3.03 billion people are on social media platforms, and 64% of them claim that watching videos on these platforms positively influences their purchasing decisions. In 2016, 43% of online stores experienced a significant boost in traffic through social media. Clutch's 2017 survey adds that Facebook, with its 2 million monthly active users, stands out as a top choice for businesses to connect with a diverse audience.
Retail and e-commerce sectors, especially targeting the 21–35 age group, are heavily investing in these platforms to expand their reach. Analytical solution provider HEAP Inc. reveals that a large portion of the population spends considerable time on social media platforms. This creates an opportunity for marketers to run campaigns and promote both online and offline products and services. Search engine optimization tools further assist advertisers in improving their website rankings and delivering better content to showcase their products. Advertising channels and social media platforms contribute to higher conversion rates, allowing marketers to build effective strategies for successful campaigns. This growing trend of industry sectors utilizing social media for advertising is expected to fuel the online classified market in the coming years.
Businesses are recognizing the potential of social media platforms like Facebook and Instagram to engage with their target audiences effectively. This shift in marketing strategy is driven by the desire to provide customers with better experiences, build larger customer bases, and foster increased loyalty. According to data from Omnicore Agency, a leading digital marketing solutions provider, a staggering 3.03 billion people are active on social media platforms. Among them, 64% claim that watching videos on these platforms has a positive impact on their purchasing decisions. Furthermore, in 2016, 43% of online stores witnessed a notable increase in website traffic originating from social media platforms. A survey conducted by Clutch in 2017 underscores the effectiveness of Facebook, with its 2 million monthly active users, as a diverse and impactful platform for businesses.
The retail and e-commerce sectors, targeting the age group of 21–35, are heavily investing in these platforms to expand their reach and connect with potential customers. HEAP Inc., an analytical solution provider, sheds light on the fact that a significant portion of the population spends a considerable amount of time on social media platforms. This presents a unique opportunity for marketers to run campaigns and promote a wide array of products and services, both online and offline.
The inclusion of search engine optimization tools further empowers advertisers to enhance their website rankings and deliver compelling content to showcase their products effectively. Advertising channels and social media platforms play a crucial role in increasing conversion rates, enabling marketers to develop and implement strategies for successful campaigns. This growing trend of industry sectors leveraging social media for advertising purposes is anticipated to be a driving force behind the expansion of the online classified market in the foreseeable future.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increase in Mobile Advertisement to Create Robust Opportunities. |
| Market Dynamics | Affordability of Online Classified to Bolster Market Growth. Increase in Mobile Advertisement to Create Robust Opportunities |
Online Classified Market Highlights:
Online Classified Market Overview
The Online Classified market size is projected to grow from USD 126.00 billion in 2024 to USD 741.47 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 24.80% during the forecast period (2024 - 2032). Additionally, the market size for Online Classified was valued at USD 100.96 billion in 2023.
Increased social media traffic presents unique opportunities to engage with online audiences and high brand awareness. These are the key market drivers enhancing market growth.
Figure 1: Online Classified Market size (2018-2032) (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Online Classified Market Trends
Affordability of Online Classified to boost the market growth
The increasing penetration of smartphones and the internet, along with the ubiquity of media and electronic devices, has transformed the classification into online or digital. Today, people can easily and quickly find what they want online. Online classifieds are affordable and easy for individuals and small businesses to connect with potential customers. Regarding growth prospects or future-proofing your business, there is nothing more affordable and better than an online classifieds platform.
Other factors driving the online classifieds market share include the thriving retail e-commerce industry, rise in smartphone users, rising internet penetration, rising youth population, rise in broadband service providers, cost-effectiveness, and convenience, compared to traditional advertising Media uses a broader range of platforms print media and television, and a high reliance on smart devices such as smartphones, laptops, tablets, etc.
Increasing mobile advertising via mobile devices and increasing adoption of social platforms are likely to create enormous opportunities for market players in the coming years. These are essential factors driving the Online Classified market revenue growth.
Online Classified Market Segment Insights
Online Classified Revenue Source Insights
Based on Revenue Source, the Online Classified market segmentation includes Website Classified, Social Media Classified, and Search Engine Marketing. The social media classified segment held the majority share in 2022, contributing most of the Online Classified market revenue. Online advertising of products or services through classified platforms enables consumers to explore and compare specific products or services better than print advertisements. Few classified platforms also offer a 360-degree view of the Product, giving consumers a better understanding of product size and aesthetics, thereby enhancing the consumer experience. Moreover, with the proliferation of business applications on mobile platforms, classifieds platforms provide more opportunities for buyers and sellers in terms of time and cost savings.
Online Classified Business Model Insights
Business Model has bifurcated the Online Classified market data into Horizontal Model, and Vertical Models. Horizontal Model has a considerable share of the market. Since the horizontal Model focuses on a wide range of products and services and many categories, it cannot fully cover all product varieties under a single category. The landscape model is viral among users because it allows users to post as many ads as possible for free. The Model covers most product and service categories, including electronics, automobiles, and more. Hence, these factors of the horizontal Model will drive the growth of the online classifieds platform market during the forecast period.
Figure 2: Online Classified Market by Type, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Online Classified Type Insights
Based on Type, the Online Classified industry has been segmented into Product classified, and Service classified. The Service classified segment is expected to contribute a higher market share. Online classifieds platforms are platforms where advertisers must pay a fee to post their ads. It's usually a flat fee, but some platforms charge by time or impressions. This type is suitable for users and advertisers as it reduces unexpected spending for users while also opening opportunities to more people looking for a particular category of product/service.
Online Classified Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American market, which accounted for USD 37.0 billion in 2022, is expected to exhibit a significant CAGR growth during the study period. A growing number of Internet users, rapid adoption of innovative technologies to improve efficiency and perform daily activities, emerging industries of online analysts, social media managers, and videographers, presence of a large number of e-commerce companies, and considerable investments in the adoption of artificial intelligence and big data New technologies such as data for online classifieds are boosting the growth of the online classifieds market in this Region. The US holds the largest market share as it is the hub of activity centered on online channels.
Further, the significant countries studied in the market report are The U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Online Classified Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Online Classified market accounts for the second-largest market share. A surging number of internet users, rapid adoption of innovative technologies to improve efficiency and daily tasks, huge technological dependency, and massive growth of online marketing media platforms, countries such as Norway and France are witnessing the growing popularity of horizontal classification models, increasingly used Consumers use classified platforms to search for second-hand goods in different categories. Germany and the U.K. have witnessed the growing popularity of online classifieds with vertical business models, all contributing to the growth of the online classifieds market in the Region. Further, the German Online Classified market held the largest market share, and the U.K. Online Classified market was the fastest-growing market in the European Region.
The Asia-Pacific Online Classified Market is expected to grow at the fastest CAGR from 2022 to 2030. Considerable investments in digital advertising coupled with a rising number of businesses are driving the growth of this Region's online classifieds market. Moreover, the China Online Classified market held the largest market share, and the Indian Online Classified market was the fastest-growing market in the Asia-Pacific region.
Online Classified Key Market Players & Competitive Insights
Major market players are spending a lot on R&D to increase their Type lines, which will help the Online Classified market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new Type launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Online Classified industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to reduce operating costs is one of the primary business strategies manufacturers adopt in the Online Classified industry to benefit clients and expand the market sector. The Online Classified industry has provided medicine with some of the most significant benefits in recent years. In the Online Classified markets, major players such as Masig (Singapore), Singapore Press Holdings Ltd. Co. (Singapore), Syoknya (Malaysia), Jualo (Malaysia), and others are working on expanding the market demand by investing in research and development activities.
Masig Island is an island (also known as York Island) and place in the Torres Strait Islands region of Queensland, Australia. According to the 2016 census, Masig Island has a population of 270. There was a subsequent successful switch to commercial mackerel, prawn, and crayfish fisheries. Since the late 1970s, the island has operated a lucrative fish processing factory, freezing and airlifting the catch to markets in the south.
Also, Singapore Press Holdings Pte Ltd (SPH) is an organization engaged in real estate and aged care businesses in Singapore. Since its acquisition by Cuscaden Peak in 2022, it has changed its name to Cuscaden Peak Investments. The company remains one of the "blue chip" stocks on the Singapore Exchange (SGX) until it is delisted on May 13, 2022, following its acquisition by Cuscaden Peak. [3][1] It was also a constituent of the Straits Times Index until its removal on June 22, 2020.
Key Companies in the Online Classified market include
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Masig (Singapore)
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Singapore Press Holdings Ltd. Co. (Singapore)
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Syoknya (Malaysia)
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Jual (Malaysia)
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Craigslist (US)
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my (US), among others
Online Classified Industry Developments
September 2022: Adevinta ASA (ADE) announced the sale of its Mexican online classifieds business, Segunda mano and Vivanuncios, to Navent Group, an online real estate marketplace operator in Latin America. The two brands will continue to operate together in the marketplace, with Adevinta's Mexican classifieds business complementing Navent's existing real estate listing offering.
Online Classified Market Segmentation
Online Classified Revenue Source Outlook
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Website Classified
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Social Media Classified
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Search Engine Marketing
Online Classified Business Model Outlook
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Horizontal Model
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Vertical Model
Online Classified Type Outlook
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Product Classified
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Service Classified
Online Classified Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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