Launching a report titled 'Digital Classifieds in India 2020' that gives a comprehensive overview of the current trends in the industry, they added that horizontal classifieds will still continue to lead with about 30 percent market share of total digital classifieds in 2020.
"The ecosystem is ripe for the emergence of digital classifieds. Spurred by the smartphone penetration, online users are expected to grow to a whopping 650 million by 2020 and with every second consumer willing to pay for value added services, the digital classified segment is expected to touch $1.2 billion by 2020," Nitin Bawankule, Industry Director, Google India, told reporters in New Delhi.
Google search trends reveal that local searches across digital classified categories have grown by 4 times in the last four years, led by non-metro's like Pune, Ahmedabad, Chandigarh, Kochi, Coimbatore, Indore and Jaipur.