Online Auction Market to grow by USD 2.51 billion from 2022 to 2027 | The market is fragmented due to the presence of prominent companies like A One Salasar Pvt. Ltd, Auction House UK Ltd. & Auction Technology Group Plc, and many more - Technavio
NEW YORK, Sept. 21, 2023 /PRNewswire/ -- The online auction market is estimated to grow by USD 2.51 billion from 2022 to 2027, growing at a CAGR of 11.35%. The online auction market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer online auction markets are A One Salasar Pvt. Ltd, Auction House UK Ltd., Auction Technology Group Plc, Biddingo.com, Catawiki BV, eBay Inc., eBid Ltd., eCRATER, Invaluable LLC, John Pye and Sons Ltd., Liquidity Services Inc., SDL Auctions Ltd., UKauctioneers.com, U.S. Auction Online, Webstore.com, West Auctions Inc., Williams and Williams Marketing Services Inc., Wilsons Auctions Ltd., BCL Auction, and Sothebys. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
Company Offering:
- A One Salasar Pvt. Ltd - The company offers online auction services under the brand name SALASAR AUCTION.
- Auction House UK Ltd. - The company operates online property auctions, which provide all the benefits of buying and selling by auction, with eBay-style online bidding.
- Auction Technology Group Plc - The company offers a wide range of online auction services under the brand name Proxibid.
- For details on companies and their offerings – Buy the report!
By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. North America is estimated to account for 41% of the growth of the global market during the forecast period. The growth of the market in the region is attributed to factors such as the increase in the number of time-strapped and cost-conscious consumers. In addition, the presence of leading vendors in North America will also accelerate the growth of the online auction market during the forecast period. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
- Impactful driver- Shift in preference toward online auctioning from conventional auctioning
- Key Trend - Emergence of AI-based online auctions
- Major Challenges - The concerns related to fraudulent activities in online auctions
Market Segmentation
- By Product, the collectibles segment will account for a significant share of the market's growth during the forecast period. Some of the popular collectibles are Coca-Cola ads, baseball cards, Elvis Presley memorabilia, first edition books, rare maps, postcards, ancient coins, world stamps, hunting decoys and sporting knives, wartime collectibles/memorabilia from World War I (WWI) and World War II (WWII), and vintage designer handbags and accessories. The growth of this segment is attributed to factors such as the limited supply of collectibles and high investments by customers. Thus, the growing popularity of collectibles as online auctionable items is expected to drive the growth of this segment during the forecast period. In 2022, the collectibles segment was one of the main revenue-generating segments of the global online auction market. This was due to factors such as electronic products offered in the online auction, like computers, printers, personal audio products, phones, and tablets. Moreover, the brick-and-mortar store markup on electronic products is high, due to which customers prefer online auction methods to buy electronic goods. The growth momentum is accelerating owing to the changing lifestyle of people and an increase in demand for electronic goods. Some of the popular electronic goods that are auctioned are Fujifilm digital camera, Apple iPhone, electronic luggage scale, and anti-spy wireless RF pinhole camera.
Technavio Research experts have provided more insights on the market share of segments - View Free Sample Report
Related Reports:
The hard asset equipment online auction market is estimated to grow at a CAGR of 18.65% between 2022 and 2027, and the size of the market is forecast to increase by USD 2,100.27 million.
The real-time bidding market size is expected to increase by USD 16.52 billion from 2021 to 2026, at a CAGR of 22.21%.
Online Auction Market Scope | |
Report Coverage | Details |
Historic period | 2017-2021 |
Growth momentum & CAGR | Accelerate at a CAGR of 11.35% |
YoY growth 2022-2023 (%) | 9.22 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Key countries | US, China, Japan, UK, and Germany |
TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by Platform
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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