Online Bidding Platforms to Exhibit Stellar Growth of 16.3% Through 2031
As per the study, increase in the number of Internet users has created high prospects for online bidding platforms.
NEW YORK, Nov. 18, 2021 /PRNewswire/ -- According to the online bidding platform industry analysis by Persistence Market Research, demand registered in the market is set to increase at a high CAGR of 16.3% from 2021-2031. The report also forecasts that the market will close in a valuation of US$ 3.1 Bn by the end of 2021. As per the study, increase in the number of Internet users has created high prospects for online bidding platforms.
As per stats, around 4.8 billion were using the Internet in 2021, and this is almost 60% of the total world population. Most Internet users are using mobile devices to go online at least some of the time. Due to growing use of social media platforms, the market for online bidding platforms will see high growth over the forecast period.
The market is evolving at a fast pace, and partnerships, investments, and product launches are ongoing.
- In September 2021, Sacramento Kings announced a multi-year partnership with I Got It, a marketplace and bidding technology, to serve as the team's auction platform.
- In September 2019, AppLovin, a comprehensive mobile gaming platform, announced the launch of MAX, an unbiased real-time in-app bidding solution.
- In March 2019, Teikametrics, a leading retail optimization platform (ROP) that helps brands and sellers optimize Amazon advertising campaigns, announced the launch of its new hourly bidding solution for its best-in-class software-as-a-service (SaaS) product - Teikametrics Flywheel.
Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/32934
Key Takeaways from Market Study
- By solution, the online bidding software segment is anticipated to account for a leading share during the forecast period. However, the services segment is estimated to expand at a robust CAGR of 14.7% through 2031.
- By enterprise size, demand from small & mid-sized organizations is anticipated to increase at a CAGR of 18.7% from 2021 to 2031, while large organizations are currently dominating the market share.
- Adoption of online bidding platforms by the real estate sector is expected to rise at a high pace. Demand from this segment will increase at a CAGR of 22.7% through 2031.
- Europe is expected to lead the market followed by North America, in 2021. South Asia & Pacific is anticipated to emerge as the fastest-growing market over the coming years.
- The market in Japan is expected to progress at a CAGR of 8.6% through 2031.
- In the U.K., sales are expected to increase at a CAGR of close to 17.6% over the next ten years.
Get report customized as per requirement: https://www.persistencemarketresearch.com/request-customization/32934
"Internet users are increasingly watching online content on computers, smartphones, and laptops, and spending more time surfing on the Internet. This is further encouraging online bidding platform providers to invest in video ads for targeting this audience," says a Persistence Market Research analyst.
Increase in Number of Repetitive Buyers and Sellers on Online Bidding Platforms
Online bidding platforms offer crazy deals to attract bidders or sellers. After grabbing a good deal at any online bidding platform, the bidder comes back to hunt for more. Also, a seller who skipped attractive deals before sticks around for trying his luck again. In addition, if anybody offers a smooth and hassle-free transaction, there is an advantage for both, the buyer and seller.
Moreover, a good number of repetitive buyers and sellers refer their colleagues, relatives, and friends due to an intuitive experience. On the back of these factors, the online bidding platform market is expected to grow at a significant rate over the next ten years.
Get full access of report: https://www.persistencemarketresearch.com/checkout/32934
More Valuable Insights on Offer
Persistence Market Research's report on the online bidding platform industry research is segmented into three major sections – solution (online bidding software (marketplace bidding platforms and direct bidding platforms) and services (design & integration services, catalog management services, and support & maintenance services)), enterprise size (small & mid-sized organizations and large organizations), industry (media and entertainment, government & non-profit, healthcare & medical, retail & e-Commerce, real estate, travel and luxury, automotive, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate the lucrative opportunities in the market.
Related Reports:
- Online Advertising Market
- Classified Platform Market
- Mobile Enterprise Application Development Platform Market
- Video PaaS Market
About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Overview:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: [email protected]
Visit Our Website: https://www.persistencemarketresearch.com
Logo https://mma.prnewswire.com/media/661339/Persistence_Market_Research.jpg :
