Recording a decent CAGR of 6.2%, the global customer-to-customer (C2C) community marketing software market is expected to garner USD 2.8 Billion by the end of 2032. The market was valued at USD 1.5 Billion in 2021. However, the revenue is expected to spike to USD 1.6 Billion by 2022, reflecting a Y-o-Y growth of 6.6%.
The increasing popularity of e-commerce and the integration of AI in business models is expected to benefit the market in the coming time. Also, with rising awareness about its benefit, the industry is set to flourish in the assessment period.
| Attributes | Details |
|---|---|
| Customer-to-Customer (C2C) Community Marketing Software Market CAGR (2022 to 2032) | 6.2% |
| Customer-to-Customer (C2C) Community Marketing Software Market Size (2022) | USD 1.6 Billion |
| Customer-to-Customer (C2C) Community Marketing Software Market Size (2032) | USD 2.8 Billion |
With the expansion of public engagement, the importance of community engagement platforms has increased considerably. Moreover, with rising in smartphone adoption and the growth of social media across the globe, the market is likely to flourish significantly in the forthcoming period. Such software help ease the interaction of customers and business representatives, thus, benefitting the market in the forecast period.
Also, it assists customers in developing new relationships, surging sales, reducing service costs, and enhancing innovation. Also, with the integration of AI, the market is expected to exhibit various lucrative market opportunities. In addition, players in the market adopt various strategies to strengthen their position in the market.
For instance, Kennected, a firm that offers SaaS-based marketing software, announced that it was getting positive reviews from its customers on other platforms, other than Google. The firm uses LinkedIn to automate the process of generating leads. Owing to such factors, the market is projected to witness various growth prospects in the forecast period.
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The rapid expansion of e-commerce is expected to be the most significant factor driving the global C2C community marketing software market in the forecast period. With the rising popularity of online platforms such as eBay, Etsy, Amazon Marketplace, and others, the market is likely to flourish in the forthcoming period.
Benefits offered by C2C such as; the ability to list an item for sale without additional advertising, reduced marketing costs, and increased profitability among others are other factors fuelling the industry in the assessment period.
Increasing initiatives taken by the government across the globe are likely to benefit the market. For instance, in April 2022, Coal India Ltd. announced that it would launch its own e-auction platform.
The miner’s dedicated e-auction portal has been developed by National Informatics Centre and supported by CIL subsidiary Central Mine Planning & Design Institute. Such favorable initiatives are expected to benefit the C2C community marketing software market in the forecast period.
The increased popularity of online auctions has positively impacted the market. The popularity of online auctions can be attributed to the increasing need for automation in large-scale auctioning processes.
Owing to several benefits offered by online auctioning, such as; larger reach, more convenience, more buyers, and more cost-effectiveness, among others, are expected to propel the demand for efficient C2C community marketing software, thereby, benefitting the industry in the forecast period.
For instance, in May 2022, Norfolk, a city in Virginia, launched vacant property online auction program, selling vacant lots across the city. Such initiatives are expected to strengthen demand for C2C community marketing software and benefit the industry in the future.
Integration of artificial intelligence in the C2C community marketing software is likely to offer significant growth opportunities in the forecast period. With the application of AI-based data analytics and bots, sellers can identify potential buyers. This modern technology helps sellers to tailor their digital marketing campaigns and assure offer potential buyers.
Other benefits like cost-effectiveness, predictive, tirelessness, and others, are expected to offer various opportunities to the market in the future.
With the increasing partnerships and acquisitions by various players in the market, the industry is likely to flourish significantly. For instance, in April 2022, Trade X, a B2B cross-border automotive trading platform, announced that it had entered into a strategic partnership with Wholesale Express, a Canada-based online daily auction site that sells pre-owned cars to registered dealers in Ontario, Quebec, and Eastern Canada.
With the initiative, new solutions will be provided to customers and help in market expansion to the rest of Canada and the US.
In addition, with the rising number of startups, the industry is likely to witness various opportunities. For instance, in April 2022, a Nashville-based company, called Crank Farm, launched a social auction platform that focuses on cyclists who want to sell or buy performance bicycles. Similarly, Cars24, an Indian start-up, transformed the way consumers sell, buy, and finance used cars by leveraging technology.
In December 2021, the start-up raised USD 400 million, including a USD 300 million Series G equity round alongside a USD 100 million in debt from various financial enterprises led by Alpha Wave Global at a valuation of USD 3.3 billion. This will strengthen the foothold of the company in the Middle East, SE Asia, and Australia. Such expansionist strategies are expected to benefit the market in the forecast period.
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Concerns associated with fraudulent activities in C2C marketing platforms are expected to be the major factor hampering the market growth in the forecast period. Expansion in the number of participants in an online auction has resulted in surged online crimes. Bid rigging is one of the major forms of fraud in online auctions.
Also, the quality of products sold through online auctions is another concern that is likely to hamper the industry growth in the forecast period. Online auctioneers post false images and untrue details about the product, which creates a fake impression in consumers’ minds. This is expected to hinder market expansion in the coming time.
However, with the implementation of stringent laws in various countries, the market is expected to witness a rise in the coming time. For instance, all consumer rights are applied when one shops with an Australian online business. Such initiatives are expected to act as a significant counter, thereby, supporting the market expansion in the forecast period.
Based on type, the cloud-based segment is anticipated to lead the market in the forecast period. As per the analysis, the type segment is anticipated to record a CAGR of 6.1% from 2022 to 2032.
The growth of the segment can be attributed to the increasing implementation of modern technologies such as; Artificial Intelligence, Machine Learning, and the growing shift of consumers towards cloud-based solutions. In addition, increasing investment by countries such as; the USA, the UK, China, and India are likely to make a notable contribution to driving the market during the assessment period.
Based on the application, the retail and e-commerce segment is expected to lead the market in the forecast period. The segment is anticipated to record a CAGR of 5.7% from 2022 to 2032.
The retail and e-commerce industry segment is anticipated to garner a significant market share in the forecast period. This can be attributed to the emergence of new players and the adoption of the modern e-commerce model. Also, increasing adoption of smartphones and penetration of the internet across the globe, especially in developing countries, the segment is predicted to flourish in the coming time.
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According to the analysis, North America is anticipated to dominate the global market. Among all, the US market is anticipated to lead the global market in the forecast period. As per the estimations, the regional market is projected to garner USD 1 Billion by the end of 2032, while recording a CAGR of 6%.
The growth of the market can be attributed to the early adoption of cloud-based technologies and IoT in the States. Also, it is home to various established players, which is another important factor driving the market in the forecast period. Players such as; eBay, Etsy, and others are globally renowned players, making the regional market secure the largest market share in the forecast period.
With expansion strategies adopted by players, the regional market is anticipated to propel in the future. For instance, in, May 2022, eBay acquired stakes in Funko. With this initiative, it will expand its premium intellectual property and pop aesthetic into new content areas and it will also drive its Direct-to-Consumer (DTC) business. Such actions are projected to benefit the American market in the assessment period.
Asia Pacific is projected to be the fastest-growing market in the forecast period. As per the analysis, the market in APAC is principally influenced by developing nations such as; China, Japan, India, and South Korea. China is projected to expand at a growth rate of 5.6%, while Japan and South Korea have been estimated at 4.5% & 4% respectively.
With the presence of fast-developing countries, Asia Pacific is expected to flourish in the future. The increasing usage of AI in several digital technologies and the growing popularity of e-commerce across these nations have influenced the industry positively. Moreover, with the emergence of several startups, the market is likely to witness tremendous growth opportunities in the coming time. India has been identified as one of the most lucrative markets.
For instance, Spinny is a C2C platform that allows customers to discover cars online on its website and offer the final purchase at a Spinny Car Hub. Similarly, Droom, another startup in India, is an AI-based and data science-driven eCommerce platform for buying a used vehicle. Owing to such factors, the market in APAC is expected to witness significant growth in the coming time.
| Country | Estimated CAGR |
|---|---|
| USA | 6% |
| UK | 4.8% |
| China | 5.6% |
| Japan | 4.5% |
| South Korea | 4% |
Players in the market are focusing on expanding their reach across the globe through various strategies such as; acquisitions, partnerships, and product launches, among others. Some of the key players in the market include Meta, Bevy, LinkedIn Corporation, Tribe Technologies Inc., and Meetup Pro.
Recent key developments in the industry are:
The global customer-to-customer (C2C) community marketing software market is estimated at a market value of USD 2.8 billion by 2032.
The USA market is anticipated at USD 1 Billion by 2032
South Korea is predicted at a CAGR of 4% during the forecast period.
UK is expected at a market value of USD 114.3 Million by 2032
The cloud-based segment is expected to record a CAGR of 6.1% by 2032
The retail and e-commerce segment is anticipated to exhibit a CAGR of 5.7% from 2022 to 2032
China is estimated at a market value of USD 209.1 Million by 2032
Japan is expected to expand at a CAGR of 4.5% by 2032.
1. Executive Summary | Customer-To-Customer (C2C) Community Marketing Software Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. On-Premises 5.2. Cloud-based 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Retail and E-commerce 6.2. Health and Life Sciences 6.3. BFSI 6.4. Transport and logistics 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Enterprise Size 7.1. Small and Medium Enterprises 7.2. Large Enterprises 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. LinkedIn Corporation 16.2. Meta 16.3. Tribe Technologies Inc. 16.4. Bevy 16.5. Meetup Pro 16.6. Google 17. Assumptions & Acronyms Used 18. Research Methodology
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Customer-To-Customer (C2C) Community Marketing Software Market
