Global Online Auction Market 2018-2022 | Ease of Bidding to Boost Growth | Technavio

analysts forecast the global online auction market to grow at a CAGR of
over 7% during the forecast period, according to their latest market
research report.

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Technavio has published a new market research report on the global online auction market from 2018-2022. (Graphic: Business Wire)

The emergence of artificial intelligence (AI) is one of the major trends
being witnessed in the global
online auction market 2018-2022. AI is used in an online auction
to perform various activities such as processing customer-service
inquiries, internal operations, product packaging, and delivery. In the
recent years, AI has led to a shift in the preference for online auction
from the conventional auction. Therefore, the emergence of AI and its
increased adoption by different vendors to retain their market shares
will contribute to the growth of the global online auction market.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to
the growth of the global online auction market is the ease of bidding:

Global online auction market: Ease of bidding

Online auction provides bidders with flexibility in terms of time and
place. One can easily login to the site and participate in the auction,
which helps the user save both time and money. Online auctions run-over
a fixed period and normally take 21 days for marketing and open-house
viewings. They do not require the physical presence of the bidders as
the process is carried out online. Companies upload images and videos of
their stock and products on their websites. This helps bidders to
compare prices and the quality of the product before participating in
the bidding process. Moreover, the process eliminates the profit made by
the agents, brokers, or middlemen, thereby making the bidding process
cost-efficient thereby driving the growth of the global online auction

According to a senior analyst at Technavio for research on gaming,
“With online auctions providing the bidder with more financial security,
several buyers are inspired to invest more than they were investing
previously, thereby boosting the overall growth of the online auction

Global online auction market: Segmentation

The global online auction market research report provides market
segmentation by product (collectibles, electronics, artistic goods,
jewelry, others), and by region (the Americas, EMEA, and APAC). It
provides an in-depth analysis of the prominent factors influencing the
market, including drivers, opportunities, trends, and industry-specific

The Americas held the largest share of the market in 2017, accounting
for over 50% share, followed by the EMEA and APAC respectively. However,
during the forecast period, the region of APAC is expected to exhibit
the highest incremental growth followed by the Americas. EMEA is
expected to see a commensurate decline in its market share over the
forecast period.

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

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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