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DUBLIN--(BUSINESS WIRE)--Sep 29, 2022--
The "Global Online Auction Market: Analysis By Product Type (Fine Art, Jewels and Watches, Cars, Decorative Arts and Furniture, and Others), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global online auction market in 2021 stood at US$5.90 billion, and is likely to reach US$11.47 billion by 2027. In recent years, younger audiences have recently shown a keen interest in auctions and willingness to use digital platforms to get what they're searching for.
The High-Net-Worth Millennials have completely embraced the digital transformation seen with auctions, and in 2020 they were the top spenders. This is mostly due to the millennials' transition from being the youthful, hardworking, and underpaid generation, at their 20s, to the group's oldest members approaching their 40s, and they now have great purchasing power that they did not have a few years ago.
An online auction refers to an auction in which auctioneers or bidders sell or bid for products or services over the Internet. As the auctions are conducting over the internet, it is no longer a geographically pre-determined market place. The major benefits provided by online auction include large reach, open 24/7, convenience, broad exposure, acceptance of universal products, quick and reliable transactions, less onsite activities, etc. The global online auction market is projected to grow at a CAGR of 11.45 % during the forecast period of 2022-2027.
Market Segmentation Analysis:
Market Dynamics
Growth Drivers
Challenges
Market Trends
Key Players
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/t771ub
View source version on businesswire.com:https://www.businesswire.com/news/home/20220929005751/en/
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KEYWORD:
INDUSTRY KEYWORD: ONLINE RETAIL RETAIL MOBILE/WIRELESS TECHNOLOGY SPECIALTY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/29/2022 11:25 AM/DISC: 09/29/2022 11:26 AM
http://www.businesswire.com/news/home/20220929005751/en