Online Bidding Platform Market 2022
The global Online Bidding Platform Market is likely to grow vigorously in the upcoming period. The market would show inclination towards privacy-enhancing computation over the period of time. Loads of privacy-protection techniques are bound to be used for allowing extraction of value from the data. This would be the scene with ICT vertical in the next 10 years.
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 2022-2031. The report also forecasts that the market will close in a Revenue of US$ 3.1 Bn by the end of 2022.
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Hyper-automation implies outsourcing the IT services to the adjoining firms for leveraging the automation technologies. The major objective is that of streamlining operations as well as optimizing efficiency of the IT infrastructure. Container technology would also be ushered, which would enable delivery of custom cross-platform solutions through multiple environments. The Online Bidding Platform Market would be walking along these lines in the near future.
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 2022, 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 2022, 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.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Bidlogix, Promena, Easy Auction, Handbid, RainWorx Software, TahoePeaks, Inc., OneCause, Auctria, Software Inc., Bidpath, MercuryMinds, AirAuctioneer Pty Ltd and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Online Bidding Platform.
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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 2022 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 2022. 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.
“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.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)
Key Stakeholders
Online Bidding Platform Market Manufacturers
Online Bidding Platform Market Distributors/Traders/Wholesalers
Online Bidding Platform Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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