A joint report by Google and KPMG predicts the Indian digital classified industry will grow 300 percent to US$1.2 billion by 2020.
The report, Digital Classifieds in India 2020, revealed a huge growth in smartphone use and the internet user base will trigger the boom.
“The ecosystem is ripe for the emergence of digital classifieds,” said Nitin Bawankule, Industry Director at Google India.
“Spurred by smartphone penetration, online users are expected to grow to a whopping 650 million by 2020 and the digital classified segment is expected to touch $1.2 billion.”
In 2011 the industry was reportedly worth $150 million and around $400 million in 2015.
Real estate classifieds are expected to rise by four times the current rate while online services such as dining, auto rentals, relocation services and home services such as beauty and tutoring will grow seven-fold.
The jobs market will double by 2020 with Bengaluru, Mumbai, Delhi and Hyderabad set to be the top cities for online job searches.