The Digital Classifieds market in Saudi Arabia is experiencing significant growth and development, driven by changing customer preferences and local special circumstances.
Customer preferences: In Saudi Arabia, customers are increasingly turning to digital platforms for their classifieds needs. This shift in preference can be attributed to the convenience and efficiency offered by online platforms, which allow users to easily search, compare, and connect with sellers. Additionally, the younger generation in Saudi Arabia is more tech-savvy and comfortable with using digital platforms, further driving the demand for online classifieds.
Trends in the market: One of the key trends in the digital classifieds market in Saudi Arabia is the rise of specialized platforms. Instead of relying on general classifieds websites, customers are now seeking out platforms that cater specifically to their needs. For example, there are dedicated platforms for real estate, automotive, jobs, and other popular categories. This trend is driven by the desire for a more targeted and efficient search experience, as well as the increasing competition in the market. Another trend in the market is the increasing adoption of mobile apps. As smartphone penetration continues to rise in Saudi Arabia, more customers are accessing classifieds platforms through mobile applications. This trend is fueled by the convenience and accessibility offered by mobile apps, allowing users to browse and connect with sellers on the go. Mobile apps also provide a more personalized and user-friendly experience, further driving their popularity.
Local special circumstances: Saudi Arabia has a large population with a high internet penetration rate, making it an attractive market for digital classifieds platforms. Additionally, the country has a growing middle class with increasing purchasing power, driving the demand for various goods and services. The government's Vision 2030 initiative, which aims to diversify the economy and reduce reliance on oil, has also contributed to the growth of the digital classifieds market. As the economy diversifies, more businesses are entering the market, leading to increased competition and innovation in the classifieds sector.
Underlying macroeconomic factors: The growth of the digital classifieds market in Saudi Arabia is also influenced by underlying macroeconomic factors. The country has a stable economy and favorable business environment, attracting both local and international investors. Additionally, the government has been supportive of the digital economy, implementing policies and regulations to promote e-commerce and online businesses. These factors have created a conducive environment for the growth of the digital classifieds market in Saudi Arabia. Overall, the digital classifieds market in Saudi Arabia is experiencing significant growth and development, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. The rise of specialized platforms and mobile apps, along with a growing population and favorable business environment, are contributing to the expansion of the market. As more customers embrace digital platforms for their classifieds needs, the market is expected to continue its upward trajectory in the coming years.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on digital classifieds advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers digital classifieds advertising fees paid by advertisers to display online jobs, motor, real estate, and general classifieds.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from industry association reports, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.Additional notes:
Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.
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