Singapore Property Classifieds Market, Outlook to 2025, Major Player: Ken Research

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With a population of 5.4 Mn in 2020 and a being major financial hub in the Asia Pacific region, Singapore has earned a reputation as one of the world’s most advanced economies. It is a leader in Southeast Asia with more than 80 proptech companies, majority of which are successfully creating a powerful and transparent digital integration and growing a double digit CAGR of 36.1% during 2015-2020.

From project funding to management down to design, property technology in Singapore covers a range of sub-industries in the real estate sector. A growing millennial workforce, fast evolving consumer trends and untapped demand potential in the market are real draw cards for start-ups and developers looking to enter the Aggregators and Co-Living market.

Most full-stack Property Classified players in Singapore have remained focused on the residential property segment considering the burgeoning housing shortage, rapid urbanization and urban migration trends. Property Classified companies range from crowdfunding websites to smart building firms, asset management companies, AR service providers and video analytics solution providers to track human traffic in retail malls.

However, the industry is highly vulnerable to fraud due to its complex nature, reliance on technology, and interaction between stakeholders and third parties. Companies such as PropertyGuru. SRX Property, Carousell and Cove are poised to capitalize on current pain points in Singapore Property Classified Market.

Singapore Property Classifieds Market Segmentation: Ken Research

By Business Model: Revenue Via Listings and Classifieds generated highest revenue due to increased user base. Majority of the property classified ad marketplaces provide the main services at free of cost so that the users can buy/rent properties and the sellers can list their properties for free.

By Market Players for Co-Living and Aggregators: The Singapore co-living and aggregators market is dominated Cove contributing ~% revenue share.

By Type of Market Players:

Singapore proptech Market is further segmented into by type of market players, Listings and Classified market players co-living and Aggregator market players.

By Market Players for Listings and Classifieds: The Singapore Listing and classified market is dominated by Property Guru Group contributing ~% revenue share.

By Transaction Type: Majority of the transactions were carried out via sale of properties rather than renting properties. The government has introduced policies and are encouraging millennials to buy properties rather than renting of properties.

By Revenue Sources: Majority of the revenue is generated from Fee for Listings including Subscription Packages and Commission. The advertisement-based revenue model is gaining traction and is often used by websites/applications/marketplaces that attracts huge amounts of traffic. Revenue is generated by selling ad space and it is one of the most standard methods of gaining revenue.

By Type of Region:

Properties in the RCR are benefitting from the confluence of demand from various buyer groups, including foreigners looking for a good buy, Singaporean investors, owner-occupiers who want to live closer to the city, as well as a sizeable pool of budget-conscious tenants who might be priced out of the prime rental market in the city Centre.

Singapore Property Classifieds Market Competition

The market is moderately fragmented for listings and classifieds companies with major players including Property Guru Group, SRX Property, Carousell, ST Property, Mogul, Grey loft, etc. The market is highly concentrated market for aggregators & co-living companies with top players namely Cove, Hmlet and Easy City holding more than 60% market share in terms of revenue.  Players are competing on the basis of Rental Pricing, Room Types, Locations, Services, Community Events, etc. Factors such as expensive rentals, fixed one- to two-year tenancy contracts and the hassle of dealing with intermediaries, have driven the growth of co-living concepts in Singapore.

Singapore Property Classifieds Market Future Outlook and Projections

Singapore Property Classified Market is expected to grow at a massive rate of 30.16% CAGR during 2020-2025 providing a lucrative opportunity for Property Classified investors. Technology has been increasingly becoming an attractive asset for landlords, potential real estate investors and tenants looking for an efficient and secure opportunity in the Commercial Real Estate segment (CRE). This presents a lucrative opportunity for Property Classified investors to witness high returns on their investment. The real estate digital classifieds space is still in the early stages of growth and the listings are dominated by builders and brokers.  Further, with newer technology-based services such as 360-degree view, listing convenience, subscription management etc., and the focus is likely to be on educating individual users. Therefore, the advertisements are more likely to be focused on the individuals on both the buying and selling side, which could help reduce the resistance of online real estate tractions by individual users.

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Key Factors Considered in the Report

• Overview of Singapore Proptech Market
• Ecosystem of Major Entities in Singapore Proptech Market
• Business Cycle and Genesis of Singapore Proptech Market
• Singapore Proptech Market Size, 2015-2020
• Singapore Proptech Market Segmentations
• Competition Analysis : Market Share of Major Listings and Classifieds and Major Aggregators & Co-Living Companies
• SWOT Analysis in Singapore Property Classified Market
• Revenue Models in Singapore Proptech Industry
• Growth Drivers and Restraints in Singapore Proptech Market
• Technological Advancements in Singapore Proptech Market
• Impact of COVID19 in Singapore Property Classified Market
• Key Trends in Singapore Proptech Market
• Outlook and Future Projections for Singapore Proptech Market
• Future Market Segmentation by Business Model and Revenue Sources
• Recommendations / Success Factors
• Research Methodology
• Appendix

For more information on the research report, refer to below link:

Covid-19 Impact Singapore Property Classifieds Market

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Singapore Used Car Market Outlook To 2025: Increasing Used Cars Demand Due to the Pandemic Contributes to Increase in Used Cars Sales during the Economic Crisis

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Global Deep-Well Pumps Market Research Report: Ken Research

Deep-Well Pump is a pump designed for pumping water from wells with water levels more than about twentyfive feet below the pump location. Such pumps are designed so that the pump cylinder is near the well water level and the water is forced to the surface rather than being sucked to it.

Based on the Deep-Well Pumps market development status, competitive landscape and development model in different regions of the world, this report is dedicated to providing niche markets, potential risks and comprehensive competitive strategy analysis in different fields. From the competitive advantages of different types of products and services, the development opportunities and consumption characteristics and structure analysis of the downstream application fields are all analyzed in detail. To Boost Growth during the epidemic era, this report analyzes in detail for the potential risks and opportunities which can be focused on.

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In Chapter 2.4 of the report, we share our perspectives for the impact of COVID-19 from the long and short term.

In chapter 3.4, we provide the influence of the crisis on the industry chain, especially for marketing channels.

In chapters 8-13, we update the timely industry economic revitalization plan of the country-wise government.

Key players in the Global Deep-Well Pumps Market covered in Chapter 5:

Weir Group

Grundfos

Flowserve

Kirloskar Brothers

Ruhrpumpen Group

Sulzer

Xylem

Ebara

WILO

KSB

In Chapter 6, on the basis of types, the Deep-Well Pumps market from 2015 to 2025 is primarily split into:

Non-clog Deep-well Pumps

Openwell Deep-well Pumps

Borewell Deep-well Pumps

In Chapter 7, on the basis of applications, the Deep-Well Pumps market from 2015 to 2025 covers:

Agriculture

Oil & Gas

Construction

Mining

Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following regions are covered in Chapter 8-13:

North America (Covered in Chapter 9)

United States

Canada

Mexico

Europe (Covered in Chapter 10)

Germany

UK

France

Italy

Spain

Russia

Others

Asia-Pacific (Covered in Chapter 11)

China

Japan

South Korea

Australia

India

South America (Covered in Chapter 12)

Brazil

Argentina

Columbia

Middle East and Africa (Covered in Chapter 13)

UAE

Egypt

South Africa

Years considered for this report:

Historical Years: 2015-2019

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2020-2025

For More Information, Click on the Link Below:-

Global Deep-Well Pumps Market

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Global Deep-Well Pumps Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

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Global Artificial Plants Market Is Predicted to Propel Owing to Growing Demand for Artificial Plants: Ken Research

Artificial plants are imitations of natural plants utilized for commercial or residential decoration. They are sometimes made for scientific determinations (the collection of glass flowers at Harvard University, for example, illustrates the flora of the United States). Artificial plants vary broadly from mass-produced varieties that are distinguishable from real plants by casual observation to extremely detailed botanical or artistic specimens.

In recent times there has been an augmenting trend towards consumers utilizing the artificial plants in their homes and gardens. Sales of fake plants, shrubs, and trees are booming, partly because we no longer want to take the time and trouble to develop real plants. advances in design and finish it is often problematic to distinguish between an artificial plant and the real thing today. As a result, there is no negotiation when it comes to appearance and feel, and this delivers many more options where greenery and plants are concerned.

According to the report analysis, ‘Artificial Plants Market: Current Analysis and Forecast (2021-2027)’ states that the key aspects attributed to the augmenting requirement for artificial plants are benefits such as cost-effective, decreased maintenance, no seasonal changes, Less care, more durable, and more realistic appearance, and a smaller cost to maintain.

Based on the product type, the market is classified into Stem Flowers, Whole Plants & Trees, Wood & Branches, Grass, and several others. The whole plants and Tree segment registered the market owing to the growth in the commercial sector. Moreover, an augment in the number of open theaters, shopping complexes is also adding pace to the growth of the whole plants and tree segment. However, the grass sector would develop with XX% CAGR during the forthcoming year.

Based on the End-Use Type, the market is categorized into Commercial and Residential. The commercial segment grabbed significant market share and captured XX% market share in the artificial plants market during 2020. Moreover, the market would observe a sharp growth in the forthcoming years due to the augmenting the number of commercials such as malls, shopping complexes etc., However, residential segment would observe the sky-rocked growth in the review period of 2021-2027F.

Based on the Material Type, the market is categroized into Silk, plastics, Rubber, paper and Others. The silk segment captured XX% market share in the artificial plants market during 2020. Moreover, the market would observe a sharp growth in the forthcoming years due to surging requirement from the residentials as well. However, rubber segment would observe sky-rocked growth in the review period of 2021-2027F.

For a better understanding of the market implementation of the Artificial Plants Market, the market is analyzed based on its worldwide existence in the countries such as North America (the United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Singapore, and Rest of APAC), and Rest of World. North America constitutes a foremost market for the Artificial Plants Market industry and created revenue of USD XX Million during 2020. Therefore, it is predicted that during the review period the market of artificial plants will increase around the globe more actively over the near years.

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GlobalArtificial Plants Market

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Global Beverage Packaging Market Is Predicted to Propel Owing to Increase In Per Capita Incomes Mainly In Underdeveloped Regions: Ken Research

Beverage Packaging is an essential aspect of the beverage industry as it plays a vital role in safeguarding and extending the shelf life of several beverages. The packaging is done by utilizing dissimilar types of raw materials and pack types.

According to the report analysis, ‘Beverage Packaging Market: Current Analysis and Forecast (2021-2027)’ states that with the growing concerns over the degrading environment, several of the leading packaging manufacturers are implementing biodegradable and eco-friendly packaging solutions which are causing noteworthy attraction among the customer globally. This has assisted many bands to produce a loyal and responsible customer base, thus growing the sales of their products as packaging designs play an essential role in this industry.

The significant growth in demand for premium products, augmenting consumption of beverages, and increasing demand for sustainable and convenient packaging are predicted to be propelling the global beverage packaging market. The global beverage packaging market is foretold to observe the decent growth owing to the enormous requirement for functional drinks. The speedy growth in middle-class population, rapid urbanization, and augmenting lifestyle changes are also predicted to propel enlargement in the global beverage packaging market.

Not only has this, the effective growth in consumption of bottled water, augmenting demand for carbonated soft drinks, and rising requirement for bio based alternatives are believed to be propelling the global beverage packaging market. Choosing plastic bottles over glass advantages the manufacturers in speeding up transportation and decreasing packaging costs. Augmenting the health awareness along with the concern towards environmental sustainability is projected to provide a thrust in the global beverage packaging market.

Geographically, Asia Pacific is foreseen to rank greater among other regions in the global beverage packaging market in terms of augmenting population. The significant growth in consumption of beverages, and advantages of utilizing plastic packaging such as easy disposal, container variety and light weightiness could be accountable to push the growth of the global beverage packaging market in the region. Other protuberant regions in the global beverage packaging market are North America, Europe, and the Middle East and Africa.

The enhancement in lifestyles of the population and the intensification in per capita incomes mainly in the underdeveloped economies boost the consumption of packaged beverages and thereby, fuels the requirement for better and convenient packaging technologies. The convenience aspect in the beverage packaging industry enables less wastage during dispensing, reseal ability, portability, and light weight of the container which helps in saving costs and thereby propels the market of beverage packaging.

Moreover, ongoing research concerning use of recycled plastic to replace virgin plastic containers will assist the beverage packaging companies to maintain environmental sustainability as well as save expenses on the procurement of new polymer materials, and thereby, boost the beverage packaging market throughout the forecast period. Therefore, it is predicted that during the coming years the market of beverage packaging will increase around the globe more progressively over the forthcoming period.

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Global Beverage Packaging Market

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South Korea Used Car Market - Demand Forecast, Share, Industry Analysis, Size 2026 : Ken Research

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How is the South Korea Used Car Market Positioned?

~70% of the total population is under the age bracket 15-64 years supplemented by the high per capita income.

The used car market in South Korea has a highly concentrated online classifieds market and fragmented offline market. A combination of restrictions on public transport and a movement towards private travel have accelerated the sale of used cars. The Online Platforms and E- Commerce in the market benefitted the most from this sector as it grew the highest. Factors such as easy availability of finance through banks and NBFIs have positively contributed to the growth in the used car market revenue. Increased digitalization, internet penetration and relaxation of government regulations on allowing big domestic players in the used car market space are critical factors which have boosted the used cars sales.

Parameters such as the age, brand, certifications, mileage, and so on impact the buying decision of the customers.

Market: Market for 'Used Car in South Korea' has increased at a CAGR of ~% over the period 2015-2021P on the basis of revenue. Sales for used cars were recorded at ~units in South Korea during 2021P.

There has been a surge in the demand for quality cars, warranty packages, after-sale services, and vehicle history reports, since the used car market in South Korea has high consumer distrust.

Yet, there are a high number of independent sellers (Customer to Customer) transactions which operate in the market. Transactions between parties without intervention in used car sales, such as transactions between individuals, accounted for greater sales than transactions through used car dealers accounted

The used cars market showed resilience during the economic crisis brought down on the country by the pandemic in the year 2020. Both the new and used cars market witnessed growth in sales.

The country saw its domestic industry – comprising of Kia, Hyundai, Renault-Samsung, GM Korea, and SsangYong – bounce back in March 2020 after seeing big declines in February, when it was down nearly, on automaker shutdowns.

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South Korea Used Car Market Segmentation

By Market Structure: Organized sector accounted for the majority of share in the used car market segment. Unorganized sector, on the other hand, made for the remaining small percentage of share.

By Organized Market Source of lead generation:

In South Korea, online platform is the most preferred method for lead generation for organized players. It also offers a display of large variety of used vehicles on a single click and allows person to compare different vehicles at the same time.

By Type of Car: SUVs are the most preferred car type amongst used car buyers. Other preferred car types include Luxury Sedans and Sedans.

By Sales Channel: C2C sales is most the preferred sales channel in South Korea. B2C sales make up a relatively small portion of the market.

By Brand: Hyundai has the highest share in the used cars market. Another Korean brands Kia, has captured a high proportion of the total market as well.

Snapshot on Online Used Car Landscape

The number of online used car portals and marketplaces have risen significantly along with rising internet penetration in South Korea over the last few years. Major dealers such as K-Cars, Aj SellCar, Autoplus and others are using online platforms to increase their sales. Hence, there was an inevitable expansion in the lead generation of used cars via the online means. Social networking sites including Facebook and Instagram play a key role in expanding the used cars market in South Korea. Emergence of online auto-portals and classified platforms such as Encar and Kb Cha Cha Cha have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. South Korea had one of the fastest internet networks around the world. The internet infrastructure has been a high priority in numerous governmental regulations that led to its rapid and thorough expansion, contributing positively to the growth of the industry.

Competition Scenario in South Korea Used Car Market

Various authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry have led to increased competition in the used car market. Most multi-brand dealers are providing value added services including easy financing options, handling the paperwork and warranty, to expand their market share and to compete with authorized dealers.

South Korea Used Car Market Future Outlook and Projections

The used car industry in South Korea is expected to demonstrate a low growth rate in the future. It is expected to increase at a five year CAGR of 1.0% (by sales volume in units) from 2021P to 2026F. It is anticipated that the share of the organized segment in the used cars space will increase over time owing to an expected entrance of the big finished car makers in the market. Foreign established C2B players are too considering ‘South Korea Used Car Market’ a growing and profitable venture as consumer trust is higher towards imported vehicles. The demand for imported vehicles has been on a rise, especially for German Brands such as Mercedes and BMW.

Key Segments Covered

• By Market Structure
• Organized
• Unorganized

• By Organized Channel Source of Lead generation
• Online
• Dealership walk-ins

• By Sales Channel
• B2C
• C2C

• By Type of Car
• Luxury Sedan
• Sedan
• Hatchback
• SUV
• MPV
• Others (Sports car, Station wagon)

• By Engine Size
• 2000 CC and Below
• 2000 CC – 3000 CC
• 3000 CC – 4000 CC
• 4000 CC and Above

• By Brand
• Hyundai
• Kia
• GM Korea
• Renault Samsung
• Ssangyong
• Benz
• BMW
• Genesis
• Audi
• Volkswagen
• Others (Includes both domestic and international brands)

• By Region
• Gyeonggi
• Seoul
• Gyeongnam
• Gyeongbuk
• Incheon
• Busan
• Chungnam
• Dae-Gu
• Jeonnam
• Jeonbuk
• Chungbuk
• Gangwon
• Gwangju
• Daejeon
• Ulsan
• Jeju
• Sejong

• By Age
• 0-2 Years
• 2-4 Years
• 4-6 Years
• 6-8 Years
• 8-10 Years
• More than 10 Years

• By Mileage
• Less than 20,000
• 20,000 – 40,000 Km
• 40,000 – 60,00 Km
• 60,000 – 80,000 Km
• 80,000 – 100,000 Km
• Over 100,00 Km

• By Fuel
• Petrol
• Diesel
• Electric
• Others (Petro-Electric, Diesel-Electric, etc.)

• By Transmission Type
• Auto
• Manual
• Others (Semi-Auto, CVT)

Companies Covered

• Authorized Dealers
• Benz Hansung
• BMW Deutsch Motor
• BMW Bavarian Motors
• KCC Auto.

• C2B/C2B2C/B2C
• K-Cars
• Aj SellCar
• Autohands
• Hey Dealer
• U-Car
• Autoplus

• Online Portals – Online Auto Classified Platforms
• Encar
• Kb Cha Cha Cha

• Auction Players
• Hyundai Glovis
• Lotte Rental – Auction
• Aj SellCar Auction
• K Car Auction

Time Period Captured in the Report:-

• Historical Period – 2015 - 2021P
• Forecast Period – 2021P - 2026F

Key Topics Covered in the Report

• Executive Summary
• Research Methodology
• South Korea Used Car Market Overview
• South Korea Used Car Market Size, 2015-2021P
• South Korea Used Car Market Segmentation, 2021P
• Growth Drivers in South Korea Used Car Market
• Issues and Challenges in South Korea Used Car Market
• Government Regulations
• Ecosystem and Value Chain of Used Car Industry in South Korea
• Customers Purchase Decision Making Parameters
• Cross Comparison between Major Authorized Dealers and Multi-brand Dealers 
• Snapshot on Online used car market
• Future Market Size and Segmentations, 2021P – 2026F
• Covid-19 Impact on the Industry & the way forward
• Analysts’ Recommendations

For more information on the research report, refer to below link:

South Korea Used Car Market Industry Outlook To 2026

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Saudi Arabia Used Car Market Outlook To 2025- By Market Structure (Organized & Unorganized), By Type Of Car (Sedans & Hatchbacks, SUVs & Crossovers, Pick-Ups And Luxury), By Brand (Toyota, Hyundai, GMC & Chevrolet, Ford And Others), By Type Of Sourcing, By Age Of Vehicle (Less Than 1 Year, 1-3 Years, 3-5 Years & More Than 5 Years), By Kilometers Driven (Less Than 50,000 Km, 50,000-80,000 Km, 80,000-120,000 Km & More Than 120,000 Km) And By Region (Northern, Southern, Central, Eastern And Western)”

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Singapore Proptech Market Genesis, and Co-Living Market, Revenue Models, Demand, Challenges: Ken Research

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Most full-stack proptech players in Singapore have remained focused on the residential property segment considering the burgeoning housing shortage, rapid urbanization and urban migration trends.

Favorable Investment Environment: Singaporean proptech companies Property Guru and Soho Property have increased their share capital in August by $146.9 Mn and $2 Mn, respectively. Meanwhile, Soho Property received its most recent funding round in March 2021 with total investment standing at $3.4 Mn and money coming from Bridge Lane Capital and Second Century Ventures.

Growing Industrial & Residential Markets: There is a massive demand for new properties, which is boosting the real estate sector. In Singapore, for example, the Urban Redevelopment Authority’s (URA) data showed that newly built private home sales went up by 82.2% in July 2020. About 56.1 Mn of gross floor area (GFA) of new industrial space is expected to come online between Q2 2021 to end 2024, with 45.7% of the new supply completed by 2021.

Rapid Population Growth: Singapore’s population is multiplying, currently standing at over 5.4 Mn people. Demographic data affects the real estate market through property-type demand and supply, pricing, migration, and investment. People are moving away from private areas and opting for shared office spaces, hotel stays, and co-living units and others due to increasing rent.

Increasing Smartphone Penetration: 88.5% of the Singapore population use the internet with 5.1 Mn Smartphone users in 2021. Over 50% of the current Singapore proptech market is influenced by the internet. This widespread digitization of the region alongside the deployment of 5G means proptech startups can seamlessly offer their real estate solutions to the public via mobile devices.

The report titled “Singapore Property Classifieds Market Outlook to 2026- Driven by Consumer Preferences and investments from VCs along with Exponential growth of smartphone penetration” provides a comprehensive analysis of the potential of Proptech industry in Singapore. The report covers various aspects including the current real estate scenario and rental rates in Singapore, revenue generated from Singapore Proptech market, its segmentations viz Business Model, By Rent and Sale, By Revenue Sources (Fee for Listings and Advertisements), By Region (District 19, District 23, District 27 and Others), revenue models, major trends and development, issues and challenges, technological advancements and competition analysis. The report concludes with market projections for future of the industry including forecasted industry size by revenue along with analyst recommendations and key market opportunities.

Key Segments Covered in Singapore Proptech Market:

By Business Model

• Listings and Classifieds
• Aggregators and Co-Living

By Rent and Sale

• Sale
• Rent

By Revenue Sources

• Fee for Listings (include subscription packages and commission)
• Advertisements

By Region

• District 19
• District 23
• District 27
• Others

Key Target Audience

• Proptech Companies
• Real Estate Developers
• Brokers
• Property Consultants
• Industry Experts

Time Period Captured in the Report:

• Historical Period: 2015-2020
• Forecast Period: 2020-2025

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Companies Covered:

Listings and Classifieds

• Property Guru Group
• SRX Property
• Carousell
• STProperty
• Mogul
• Greyloft
• 99.co
• MetroResidences
• OhmyHome
• Propseller
• EdgeProperty

Aggregators and Co-Living

• Cove
• Hmlet
• Easy City
• Login Apartment
• Figment

Key Topics Covered in the Report

• Overview of Singapore Proptech Market
• Ecosystem of Major Entities in Singapore Proptech Market
• Business Cycle and Genesis of Singapore Proptech Market
• Singapore Proptech Market Size, 2015-2020
• Singapore Proptech Market Segmentations
• Competition Analysis: Market Share of Major Listings and Classifieds and Major Aggregators & Co-Living Companies
• SWOT Analysis in Singapore Property Classified Market
• Revenue Models in Singapore Proptech Industry
• Growth Drivers and Restraints in Singapore Proptech Market
• Technological Advancements in Singapore Proptech Market
• Impact of COVID19 in Singapore Property Classified Market
• Key Trends in Singapore Proptech Market
• Outlook and Future Projections for Singapore Proptech Market
• Future Market Segmentation by Business Model and Revenue Sources
• Recommendations / Success Factors
• Research Methodology
• Appendix

For more information on the research report, refer to below link:

Singapore Property Classifieds Market Statistics

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Philippines Online Classifieds Market Outlook To 2021 - Growing Real Estate Market & Demand For Used Cars To Gain Traction In Future

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Global Car Covers Market Is Predicted to Propel Owing to Growing Automotive Industry: Ken Research

A car cover is used to protect a car against several external aspects such as wind, dust, rain, sunshine, etc. it also keeps the car safe and safeguards any paint fading, scratching, and discoloring of the interior.

According to the analysis, ‘Car Covers Market: Current Analysis and Forecast (2021-2027)’ states that with the improvement in the automobile industry and the augmenting focus of several industry players to develop new and enhanced car covers is leading to the introduction of remote-controlled automatic covers in the market. For example, Vinoya is an automatic car cover that safeguards your vehicle from spring showers, summer sun, autumn leaves, and winter snow. The Y&Y store promises that 'vinoya' is a waterproof and anti-theft car cover that can be arranged at the touch of a button. Also, the ease of usage of these automatic covers and extra protection delivered by them is also projected to generate the growth opportunities for the market players.

Global car covers market is projected to augment at a steady rate during the review period. Europe and North America account for a majority share of the market, while Asia Pacific is projected to register a progressive growth rate over the forecast duration. The effective growth in disposable income and augmenting the standard of living across countless countries is a foremost factor boosting growth of the target market. Developed regions in the Middle East, comprising GCC have a high rate of import of premium cars, which is projected to boost requirement for customized car covers in this region. The remaining regions are also projected to register a stable growth for car covers, owing to the augmenting the sale of cars across these regions.

Not only has this, the major aspect propelling the car covers market is the augmenting awareness regarding the wellbeing of the vehicle among individuals or car owners. As car covers safeguard the car from several factors such as, bird poop, tree leaves, stones and other small materials, it also safeguards the car paint and electronic system of car from injurious sunrays. Owing to all this application and benefits of car covers, its demand is augmenting at fast pace. The other aspects which have the impression on the growth of car covers market are growth in automotive industry, augmenting the automotive equipment industry, increasing demand of car covers owing to growing global warming and changing climate, augmenting the requirement of cars owing to advancement in standard of leaving and other aspects.

Considering regions, the market of Car covers is projected to lead by East Asia throughout the forecast period owing to the reason that augmenting automotive industry, growing adoption of new technologies and also the existence of several car covers providers in this region propelling this market. Europe is projected to robust growth due to an increasing awareness regarding safety of the vehicle and augmenting requirement of car covers in Germany and rest of the Europe. Therefore, it is predicted that during the near years the market of car covers will increase around the globe more actively over the near future.

For More Information, refer to below link:-

Global Car Covers Market

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