Digital Classified Advertising Market Size to Reach $26.61 Billion by 2028 Based on Rapidly Growing Popularity Across Multiple Verticals | million ideas
According to a new report available with Million Insights, the Global Classified Digital Advertising Industry Research Report offers in-depth insights into Platform, Industry Vertical, Regional Demand and Impact of COVID- 19. It also offers ready, data-driven answers to several industry-level questions.
The Global digital classifieds market the size is expected to reach $26.61 billion by 2028, according to a new report from Million Insights. It is expected to grow at a CAGR of 4.3% from 2021 to 2028. Technological advancements in big data analytics, machine learning and artificial intelligence have enabled the delivery of personalized advertising content to customers, which has resulted in significant market growth. Additionally, classified ads are rapidly gaining popularity in many verticals such as real estate, employment, automotive, marriage, and other industries due to the increase in internet penetration rate.
Additionally, a lockdown situation was observed during the COVID-19 pandemic, and the digital classifieds market experienced a slight decline due to a change in consumer behavior for a short period. Rising digital advertising spending after the easing of lockdown restrictions is expected to drive the market growth over the forecast period. However, stringent regulations regarding reading privacy and data security in various countries are expected to restrain the market growth.
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The mobile platform segment is expected to register the highest CAGR of 5.1% from 2021 to 2028. Advertisers are allowed to access the mobile locations provided by the service provider to understand the demographic trends. This helps advertisers get involved in the practice of viewing habit-specific classified ads, which is expected to fuel the growth of the market in the coming years. Additionally, the growing number of smartphone users across the globe is propelling the growth of the market.
The vertical segment of the marriage industry is expected to grow at the highest CAGR of 4.9% from 2021 to 2028. Improved levels of validation and security screening and access to more match information potentials are expected to drive growth over the forecast period. Additionally, increase in weddings through online advertising and increase in registrations and registrations will accelerate the growth of the market.
Asia-Pacific led the market with a revenue share of over 35.0% in 2020. Changing consumer behavior and rapidly growing urbanization are driving classified digital advertising spending. China and India have a large consumer base for viewing digital tips, which has further fueled the growth of the market. Moreover, the growing popularity and acceptance of the online channel among the youth is expected to accelerate the growth of the market over the forecast period.
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Highlights of the Digital Classified Advertising Market Report
• Asia-Pacific held the largest revenue share of over 35.0% in 2020 due to rapidly growing urbanization
• The mobile platform segment is expected to register the fastest CAGR of 5.1% from 2021 to 2028 owing to the growing number of smartphone users globally.
• The employment industry vertical segment held the largest revenue share of over 25.0% in 2020 due to the growing population of young people in emerging countries
• The vertical segment of the marriage industry is expected to register the fastest CAGR of 4.9% from 2021 to 2028 due to the increase in registration and listing of people on marriage sites
Segmentation of the digital classified advertising market
Million Insights has segmented the global classified digital advertising market based on platform, vertical, and region:
Ranked Digital Advertising Platform Outlook (Revenue, USD Million, 2017 – 2028)
Digital Advertising Industry Vertical Outlook Ranked (Revenue, USD Million, 2017-2028)
Digital Ranked Advertising Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central and South America
- Middle East and Africa
List of Key Players of the Digital Classified Advertising Market
- Rightmove plc
- eBay Inc.
- Craigslist, Inc.
- GOAL GROUP
- OLX Group
- Ooodle, Inc.
- Classifieds.com, Inc.
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