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Online Classified Ad Platform – Market Drivers and Forecasts from Technavio

Technavio analysts forecast the global online classified ad platform market to grow at a CAGR of over 8% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global online classified ad platform market for 2016-2020. The report explains the market with a detailed forecast of its revenue in comparison with the global online advertising market.

With the growing reach of social networking websites, it has become a common practice for individuals to share the listing from classified platforms on social networking platforms. This increases the visibility of the listed products or services and helps advertisers generate higher traffic. However, it can also impact the revenue inflow of online classified ad platform providers, if the advertiser directly lists the product on social networking sites without tapping into classified ad platforms.

Request a sample report: http://www.technavio.com/request-a-sample?report=53766

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio media and entertainment analysts highlight the following four factors that are contributing to the growth of the global online classified ad platform market:

  • Growth in mobile classified advertising
  • Low cost of online advertising
  • Rapidly declining print advertising
  • Growing mobile device penetration

Growth in mobile classified advertising

The increasing penetration of smart devices worldwide has driven the growth of mobile classified advertising. The analysts from Technavio forecast the global smartphone sales to reach 1.8 billion units in 2016. With the increasing number of smartphone and tablet users worldwide, mobile advertising has become one of the fastest-growing segments of the global online advertising market, with a spending of more than USD 100 billion on mobile internet advertising across the globe. Mobile internet advertising can host a variety of advertisements such as mobile videos and in-app advertisements via different platforms, which increase their outreach.

Ujjwal Doshi, a lead media and entertainment services analyst at Technavio, says, “Other major factors expediting the growth of the mobile classified ad platform is the rapid growth of mobile internet advertising in developing economies such as China, India, Indonesia, and South Korea in APAC. With the continuous increase in adoption of smartphones and tablets, mobile classified ads will further deepen its roots in the global online advertising market and attract higher investments in both technology and optimization.”

Low cost of online advertising

Advertising plays a major role in the penetration of new products in the market. It helps in increasing the awareness about products, creating an interest for products among buyers, and expanding the reach of products. It plays a crucial role in expanding the market for products in remote areas by using effective means of communication. Though advertising is one of the best ways to sell products, it remains a challenge for manufacturers with low budgets. Online advertising allows advertisers to advertise their products at minimal or no cost, unlike offline outdoor advertising platforms that are highly expensive. Online classified advertising helps manufacturers to list their products on normal or featured ad platforms and also allows them to count the number of views for their ads.

Rapidly declining print advertising

The sales of newspapers and magazines declined drastically during the global recession of 2008. With newspaper companies facing budget constraints, subscription and renewals dwindled significantly. The corporate sector has reduced their print ad spending, which has further decreased the demand for newspapers and magazines,” adds Ujjwal.

Print advertising is declining rapidly because of the increasing adoption of digital media advertising. Digital media advertising is cheaper and affordable for a large number of vendors and users. Digital media advertising has developed and is eating into print advertising's share. Print advertising is not able to compete with digital media advertising because of intense competition. For instance, classified ads, which are considered to be one of the major segments for revenue in print advertising, was not able to compete with Craigslist.

Growing mobile device penetration

Digital media advertising on mobile devices is offering a better ROI compared with desktop computers since 2012. Technavio analysts expect this segment to experience high growth during the forecast period owing to the rising number of digital users globally. Personalized campaigns that are organized based on user information, search words, liked pages, and frequent interactions are the primary factors that increase the effectiveness of these ads. Digital ads are more effective when the user is connected with social media platforms. There are nearly 2.2 billion monthly active users on social media worldwide, of which at least 70% is on Facebook.

Top vendors are:

  • Craigslist
  • eBay
  • Olx
  • Oodle

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

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