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9 Solid Online Marketplace Businesses to Start in 2022by@nikunjshingala
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9 Solid Online Marketplace Businesses to Start in 2022

by Nikunj ShingalaFebruary 21st, 2022
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List of the most great marketplace ideas has been assembled, together with reasons to invest and important industry participants

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There is tremendous growth in internet markets nowadays. By 2024, Forbes predicts that B2C marketplaces will generate $3.5 trillion in sales.

Entrepreneurs may take comfort from the success of Amazon, eBay, Etsy, and Airbnb in launching an online marketplace firm. Since online markets account for the vast majority of all online purchases, your marketplace firm has a better chance of success than ever before.

In order to comprehend what an online marketplace is and why you should start your own, let's first look at the definition of an online marketplace.

What exactly is an online marketplace?

In both the B2C and B2B markets, an online marketplace (also known as an e-marketplace) serves as a middleman between buyers and sellers. If you're looking for a service or product, you'll often find it from one or more third-party providers on a marketplace. In a nutshell, they serve as a medium through which buyers and sellers may interact.

Top Ideas for Entrepreneurs in the Online Marketplace

Starting an online marketplace company requires a lot of brainstorming. Here is a list of the best marketplace ideas, together with reasons to invest and important industry participants.

1. Online rental marketplace platforms 

Companies and people may rent a variety of things from one other or the platform itself via a rental marketplace. It's estimated that the global sharing economy will be valued at $335 billion by 2025, up from a 2014 value of $15 billion. The sharing economy relies heavily on rental marketplaces.

For consumers, the cost is one of the most important advantages that come from the sharing economy. Millennials and members of Generation Z are more likely than any other generation to choose to rent over owning a home. On the other side, many individuals regard renting out their old possessions as a way to generate additional money.

2. Marketplaces for online food orders and deliveries

It is an online marketplace where businesses may register and post their food menus for ordering and delivery, and clients can make orders online to have their favorite meals delivered right to the door.

During the COVID-19 outbreak, the internet food market saw a surge in demand. With a predicted value of US $446.47bn in 2026, this industry's worldwide revenue is expected to expand by 10%.

Entrepreneurs considering starting an online food delivery business have a golden opportunity. Food ordering and delivery may lead to a variety of lucrative businesses like- 

  • Ordering and Delivering School Lunches
  • Airport Food Delivery Service
  • Hospital Food Delivery and Ordering
  • Ordering & Delivery of Food for the Office.

3. Online Grocery Delivery Marketplace Platforms

A brick-and-mortar supermarket or grocery shop that also offers online ordering and delivery is an example of an online grocery delivery marketplace. Alternatively, an eCommerce business that sells groceries may be considered an online grocery delivery marketplace.

During the pandemic, online grocery marketplace platforms grew tremendously, much as meal ordering and delivery marketplace platforms. The online grocery sector is one of the fastest-growing industries.

People were obliged to purchase food online because of the epidemic. For as long as the epidemic persists, individuals will undoubtedly utilize online food shopping services.

4. Online Fitness Marketplace Platforms

Using a fitness marketplace, trainees and trainers may work together online to attain their fitness objectives. As of 2019, the worldwide online fitness market was valued at USD 5.5 billion, which is expected to rise to USD 49.17 billion by 2027.

In the past, customers had to go to a fitness facility in order to use their services. But because of the epidemic, these gyms were closed for an extended length of time. Many fitness facilities have to adapt to the new normal in order to stay in business. 

In other words, they've entered the online marketplace, where they can connect with people looking for fitness services via a mobile app or a web. In spite of its newness, the fitness industry is a lucrative business opportunity that requires little up-front capital.

5. Travel Activity Booking Platforms 

To get the most out of a holiday, tourists may use online travel activity booking marketplace platforms to research and book local sights and activities in advance. Vendors and agents may market their products to a larger audience at the same time.

Around 40% of all tour and activity reservations are now done online. In 2020, the global online travel market is expected to be worth USD 396.08 billion and USD 690.71 billion by 2026.

As you can see, the travel industry is a very big business. It also means that, as a company, you'll face stiff competition in the field from giants like Make My Trip and Expedia.

In contrast, the booking market for travel activities has less competition but a lot of room for growth since people travel not just to see the sights but also to participate in exciting activities. 

To that end, creating an online marketplace where clients can pre-book their vacation activities might prove to be a valuable economic venture and can be the best marketplace ideas.

6. Platforms for Online Service Marketplaces

Using an online service marketplace platform, service providers and searchers may trade services with ease. Salon services, plumbing, professional web design, and a host of other specialties may be offered via these types of platforms.

The service sector in the United States alone is estimated to be worth $10 trillion. A service marketplace is a terrific company concept for a variety of other reasons. First and foremost, there is no requirement for inventory management. Supply will be increased as a result of the efforts of the company that provides your service.

If you want to go forward in the service industry, you may do it by making the process of purchasing services simple, reasonable, and expeditious.

7. Marketplaces for Telemedicine and Telehealth

Health and wellness marketplaces allow users to search for and schedule telemedicine services that are available near them or in an area of interest.

In 2020, the worldwide tele-health and telemedicine market was valued at USD 38.7 billion, and it is expected to reach USD 191.7 billion by 2025 at a CAGR of 37.7 percent.

Hospitals and healthcare providers have been hit harder than ever before by the epidemic. Telemedicine is a lifesaver in the healthcare business, helping to meet the needs of every patient while also helping to stop the spread of the virus.

Patients are empowered to book online appointments/consultations with a doctor through telehealth, which decreases the pressure on hospitals. Starting a telehealth and telemedicine firm might be a wise investment, given the growing importance of telehealth in the healthcare industry.

8. Online learning marketplace platforms

An online learning marketplace, often known as eLearning, is a site where students may enroll in online courses from a variety of providers. This kind of platform may either be subscription-based or free to anybody interested in taking online courses.

eLearning's worldwide market value was estimated at $144 billion in 2019 and is predicted to reach $374.3 billion by 2026, growing at a CAGR of 14.6% between 2020 and 2026, according to a recent report.

During the epidemic, online learning platforms grew at an astronomical rate. Many educational institutions have had to adapt to operating remotely because of the epidemic. 

eLearning and online learning platforms have become more popular because of this. As a result, it's fair to claim that now is the best moment for businesses in 2022 to invest in the growth of the eLearning marketplace.

9. Online e-commerce marketplace platform 

In an eCommerce marketplace, third-party vendors are able to offer their products on the platform, and customers may make purchases straight from the platform. Buyers may have access to items of various brands from many merchants on the site.

As a result of the outbreak, eCommerce has seen a surge in popularity as more individuals turn to the web to make purchases. In 2022, you should consider launching your own eCommerce marketplace.

Conclusion 

There are a variety of marketplace business models available, including those that cater to businesses selling to other businesses, as well as those that cater to consumers buying from consumers, as well as those that cater to consumers buying from businesses, as well as those that cater to consumers buying from both other consumers and businesses.

The most difficult part of beginning a company in an internet marketplace is coming up with a fantastic concept for a market Fortunately, we've outlined a few of the most popular and lucrative marketplace ideas in this piece to get you started.