The global classified digital advertising market size is expected to reach USD 26.61 billion by 2028, according to a new report by Million Insights. It is expected to expand 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 customized advertising content to customers, which has led to significant market growth. Moreover, classified advertising is rapidly gaining popularity across multiple industry verticals such as real estate, employment, automotive, matrimonial, and other sectors due to the rising internet penetration rate.
Moreover, a lockdown situation was observed during the COVID-19 pandemic, and the market for classified digital advertising witnessed a slight decline owing to changed consumer behavior for short time. The increasing spending on digital advertising after the ease of lockdown restriction is expected to boost the market growth over the forecast period. However, strict regulations regarding reading the data privacy and security in various countries are expected to restrain the market growth.
The mobile platform segment is expected to register the highest CAGR of 5.1% from 2021 to 2028. Advertisers are allowed to access mobile phone locations provided by the service provider to understand demographic trends. This helps advertisers to involve in classified advertisement practice specific to viewing patterns, which is anticipated to fuel the market growth in the upcoming years. Moreover, the rising number of smartphone users across the globe is propelling the market growth.
The matrimonial industry vertical segment is expected to expand at the highest CAGR of 4.9% from 2021 to 2028. The improved levels of validation and security checks and access to more information about prospective matches are projected to boost the growth over the forecast period. Moreover, increasing marriages through online advertising and rising registration and listing will accelerate the market growth.
Asia Pacific dominated the market with a revenue share of more than 35.0% in 2020. Changing consumer behavior and growing rapid urbanization are boosting the spending on digital classified advertising. China and India have a large consumer base for viewing digital advisement, which has further fueled the growth of the market. Moreover, increasing popularity and acceptance of the online channel among the youth are projected to accelerate the market growth over the forecast period.
The report “Classified Digital Advertising Market Size, Share & Trends Analysis Report By Platform (Desktop, Mobile), By Industry Vertical (Employment, Automotive, Real Estate, Matrimonial), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global classified digital advertising market on the basis of platform, industry vertical, and region:
Classified Digital Advertising Platform Outlook (Revenue, USD Million, 2017 - 2028)
Classified Digital Advertising Industry Vertical Outlook (Revenue, USD Million, 2017 - 2028)
Classified Digital Advertising Regional Outlook (Revenue, USD Million, 2017 - 2028)