About Auction Services
An auction is a system of buying and selling goods or services by offering them for bidding, allowing people to bid, and selling to the highest bidder. Auction service is refer as services given during action or within auction. Auction is considered in sale of antiques, rare collectibles, and paintings, even it is also used in investment banking.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
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.
Sotheby's (United States), Property Auction Services (Australia), KAR Auction Services (United States), Christie's (United Kingdom), Nagel (Germany), Zhongzheng Auction (China), PHILLIPS (United States), Poly Auction (Hong Kong) and Guardian Auction (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Auction Services market by Type (Hardware equipment, Property and Other), Application (Absolute Auction, Minimum Bid Auction and Reserve Auction) and Region.
On the basis of geography, the market of Auction Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 Business, the sub-segment i.e. Small Business will boost the Auction Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in auction services techniques
Market Growth Drivers:
Rise in popularity of property sales through auction and Improved performance of auction services
Challenges:
Issues associated to the transparency and Challenges linked withe the various fraud functionality
Restraints:
Stringent government regulations and Privacy related to personal information
Opportunities:
Advent of online auction services to connect people easily
Market Leaders and their expansionary development strategies
In January 2023, Marcus & Millichap, a leading commercial real estate brokerage specializing in investment sales, financing, research, and advisory services, was hired as Senior Vice President and Domestic Director overseeing Jim Palmer's Commercial Real Estate Auction Services segment. The Brokerage Division provides clients with a faster way to buy and sell commercial properties, complementing the company's traditional real estate marketing channels.
Key Target Audience
Business firms, Online auction service providers, Private utility players, Government and research organizations and End users
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 a 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 the purpose to understand the companies positioning regarding the 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 a 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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.