PR85462

PUNE, India, Sep. 10/PRNewswire=KYODO JBN/--

    - Global online auction market was valued at US$ 4071.9 Mn in 2019 and is

anticipated to grow at a CAGR of 9.2% over the forecast period (2020 – 2028)

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    - The rapid penetration of internet connectivity across developing

countries along with increasing adoption of digital payment platforms is

complimenting the growth of online auction market.

    - Online auction of automotive showcased highest penetration in 2019. In

the same year, the segment held about 29% share in the overall application

segment of the global online auction market（https://www.absolutemarketsinsights.com/reports/Global-Online-Auction-Market-2019-2027-658 ）.

 Transparency in car details and transactions has encouraged

consumers to adopt the online platforms for auto car auctions. RM Sotheby's, an

auto auction company confirmed that 91% of the automotive offered on their

online auction platform were sold in 2020.  

    - The Covid-19 pandemic outbreak has encouraged substantial shift of

conventional auction companies to online platforms, enhancing the growth of

online auction market.  

    - Increasing penetration of smartphones among users along with the reach of

internet connectivity is anticipated to accelerate the growth of application

based segment in the online auction market over the forecast period.

    - Asia Pacific region is expected to register highest CAGR of 10.2% over

the period of next eight years.

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    - Some of the players operating in the online auction market are A One

Salasar Pvt. Ltd., ATG, Auction House UK, Auction Network, Biddingo.com,

Catawiki, eBay Inc., Groupon, Goods Liquidation Auctions, John Pye & Sons.,

LiveAuctioneers, SDL Auctions Limited, The Auction Company, U.S. Auction

Online, UKauctioneers.com and Wilsons Auctions amongst others.

    The detailed research study provides qualitative and quantitative analysis

of online auction market. The demand side analysis covers market revenue across

regions and further across all the major countries. The supply side analysis

covers the major market players and their regional and global presence and

strategies. The geographical analysis done emphasizes on each of the major

countries across North America, Europe, Asia Pacific, Middle East & Africa and

Latin America.

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