What is Second-hand Commodities Trading Platform?
The second-hand commodities trading platform is an online marketplace to buy and sell pre-owned goods. The increasing use of internet and growing working populations across the globe has accelerated the demand for online platforms and applications to buy and sell various types of goods like households, vehicles, fashion accessories, electronics, and many more. However, increasing use of online marketplaces to buy second-hand vehicles and electronic items will create significant opportunities for the market in the nearer future. The key players are also focusing to add new features and integrating platforms backed by AI is the major trend for the market.
The market study is broken down by Type (Integrated Trading Platform and Specialized Trading Platform) and major geographies with country level break-up.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new features, which is likely to encourage the growth of the global market throughout the forecast period. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Second-hand Commodities Trading Platform market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OLX Group (Netherlands), Quikr (India), Mercari (Japan), Carousell (Singapore), Catawiki (Netherlands), Tophatter (United States), Cartlow (United Arab Emirates), Listia (United States), Barnebys (Sweden), Poshmark (United States) and Winmark Corporation (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Second-hand Commodities Trading Platform market by Type, Application and Region.
On the basis of geography, the market of Second-hand Commodities Trading Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Operating System, the sub-segment i.e. IOS will boost the Second-hand Commodities Trading Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Commodity Type, the sub-segment i.e. Households will boost the Second-hand Commodities Trading Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In February 2021, OLX Auto introduced a new web as well as a mobile platform for pre-owned car trade. As India has the largest marketplace for pre-owned cars, the launch of the new platform will bring innovation and convenience for trading for dealers as well as consumers. The platform has been built with new features and advanced technologies like AI to improve trust and build a cohesive platform catering to the highly fragmented pre-owned car market of India.
Market Trend
- High Adoption of Android Applications for Second-hand Commodities Trading
Market Drivers
- Increasing Number of Smartphone Users and Consumers’ Preference Towards Online Shopping
- Increasing Use of Technology to Buy and Sell Pre-used Goods
Opportunities
- The Acceptance of Online Marketplaces in Developing Economies
Restraints
- Less Acceptance in the Rural Areas Due to Lack of Awareness
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Second-hand Commodities Trading Platform Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.