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Online Auction Market to Grow by USD 3.08 Billion (2024-2028) as Preference Shifts from Conventional to Online Auctions, AI’s Impact on Market Trends Report – Technavio

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NEW YORK, Oct. 30, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global online auction market  size is estimated to grow by USD 3.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  12.36%  during the forecast period. Shift in preference for online auctions from conventional auction model is driving market growth, with a trend towards emergence of AI-based online auctions. However, rise in shill bidding during online auctions  poses a challenge.Key market players include A One Salasar Pvt. Ltd, Auction House UK Ltd., Auction Technology Group Plc, BCL Auction, Biddingo.com, Bonanza Portfolio Ltd., Catawiki BV, eBay Inc., eBid Ltd., eCRATER, Invaluable LLC, John Pye and Sons Ltd., Liquidity Services Inc., SDL Auctions Ltd., Sothebys, UKauctioneers.com, U.S. Auction Online, Webstore.com, Williams and Williams Marketing Services Inc., and Wilsons Auctions Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Collectibles, Electronics, Artistic goods, Jewelry, and Others), Platform (Web-based and Application-based), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

A One Salasar Pvt. Ltd, Auction House UK Ltd., Auction Technology Group Plc, BCL Auction, Biddingo.com, Bonanza Portfolio Ltd., Catawiki BV, eBay Inc., eBid Ltd., eCRATER, Invaluable LLC, John Pye and Sons Ltd., Liquidity Services Inc., SDL Auctions Ltd., Sothebys, UKauctioneers.com, U.S. Auction Online, Webstore.com, Williams and Williams Marketing Services Inc., and Wilsons Auctions Ltd.

Key Market Trends Fueling Growth

Artificial Intelligence (AI) is revolutionizing the online auction market by streamlining processes and enhancing efficiency. AI platforms employ machine learning and algorithms to deliver valuable insights to bidders, reducing administrative costs through automation of internal operations, customer service inquiries, equipment packaging, and delivery. In March 2018, TradeRev, a KAR Auction Services Inc. Subsidiary, launched H, an AI-driven tool for dealer-to-dealer vehicle auctions, featuring data and predictive analytics capabilities. Voice search technology is also emerging, with Ritchie Bros. Auctioneers testing a voice assistant in March 2019. These AI-based tools, including voice recognition systems, attract more customers and boost growth prospects in the online auction market.

Online auctions have seen a significant popularity due to the digital transformation of e-commerce. Smartphone penetration allows bidders to participate from anywhere, enhancing convenience. Payment options are diverse, including credit cards and e-wallets. Sustainability and affordability are key trends, with sellers offering eco-friendly materials and ethical practices. Collectors seek collectibles like electronics, artistic goods, jewelry, paintings, antique goods, and digital assets. Online platforms cater to younger audiences, offering an enhanced viewing experience through AR and VR technology. Auctioneers ensure security with fraud prevention, anti-money laundering measures, and data collection for personalization. Automation and pricing tools help streamline the process, while AI aids in ethical sourcing and authentication. Accessibility is paramount, requiring reliable internet access for all participants.

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Market Challenges

Online auctions have gained significant popularity, but the issue of shill bidding remains a concern. Shill bidding is an unlawful practice where a seller or their associates artificially inflate bids in forward auctions or reduce them in reverse auctions. Detecting shill bidding in a large number of online auctions and bidders is challenging. Shill bidding can create a false sense of demand, making buyers pay more than the product’s actual value. Genuine bidders may lose trust in the online auction process due to shill bidding. Despite being recognized as a problem, there is no established method to prevent it. Most online auction companies lack the resources to detect shill bidding in real-time. Without formal complaints from bidders, these companies seldom take action against shill bidding. The rise in shill bidding instances may discourage bidders, potentially hindering the growth of the global online auction market.Online auctions have gained significant traction in the e-commerce industry, offering collectibles, electronics, artistic goods, jewelry, digital assets, paintings, antique goods, and more to bidders worldwide. However, challenges persist. Payment options must be diverse and secure, accommodating various credit card numbers, home addresses, and phone numbers. Smartphone penetration drives convenience, but digitalization requires ethical sourcing of eco-friendly materials and ethical practices. Affordability is crucial, with accessibility contingent on internet access. Collectability thrives on enhanced viewing experiences, including AR and VR. Auctioneers and sellers must navigate pricing, data collection, automation, and personalization while addressing security concerns, such as fraud prevention and anti-money laundering. Online platforms must cater to younger audiences, offering seamless experiences and addressing privacy concerns. The integration of AI in online auctions streamlines processes, ensuring a transparent and efficient marketplace.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This online auction market report extensively covers market segmentation by

Product 1.1 Collectibles1.2 Electronics1.3 Artistic goods1.4 Jewelry1.5 OthersPlatform 2.1 Web-based2.2 Application-basedGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Collectibles-  In the dynamic world of Online Auction Markets, the collectibles segment emerged as a significant revenue generator in 2023. The passion for acquiring items with historical value among people drove this segment’s growth. Online auctions eliminated geographical limitations, enabling collectors worldwide to participate, broadening the potential buyer and seller base. Detailed information, images, and histories available online boosted transparency, instilling trust and confidence among collectors. With technology’s continuous advancement and increasing comfort with online transactions, the collectibles segment’s growth is anticipated to accelerate substantially throughout the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

Online auctions have gained significant traction among younger audiences, leveraging the power of the internet to bring fine art, jewels and watches, cars, and various other valuable items to bidders worldwide. The use of Artificial Intelligence (AI) and advanced technology enhances the online auction experience, with fraud prevention and anti-money laundering measures ensuring security. Pricing transparency, data collection, and automation provide personalized and convenient bidding experiences. Security concerns and payment options are addressed through systems, while smartphone penetration and e-commerce growth fuel digital transformation. Sustainability and affordability are also key considerations, with many platforms offering green shipping options and accessible pricing. Collectability and convenience are major drivers for bidders, with enhanced viewing experiences through AR and VR technology adding to the appeal. Auctioneers and bidders alike benefit from the convenience and accessibility of online platforms, making this a dynamic and evolving market.

Market Research Overview

The online auction market is experiencing explosive growth, particularly among younger audiences, as more people turn to the internet for buying and selling fine art, jewels and watches, cars, and various collectibles. Online platforms offer unparalleled convenience, enhanced viewing experiences through AR and VR technology, and accessibility to a global audience. AI plays a crucial role in pricing, fraud prevention, and anti-money laundering efforts. Data collection and automation enable personalization and affordability, while security concerns are addressed through advanced encryption and payment options. Smartphone penetration and e-commerce’s digital transformation continue to drive growth, with sustainability and ethical sourcing becoming increasingly important. Collectors and bidders can now buy and sell eco-friendly materials, electronics, artistic goods, jewelry, paintings, antique goods, and even digital assets from the comfort of their homes. However, with this digitalization comes the need for ethical practices, accessibility, and internet access for all. Sellers and auctioneers must navigate the complexities of credit card numbers, home addresses, and phone numbers, while ensuring a seamless and secure transaction process.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductCollectiblesElectronicsArtistic GoodsJewelryOthersPlatformWeb-basedApplication-basedGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Innowise Named to 2026 CRN Tech Elite 250 List By The Channel Company

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WARSAW, Poland, April 26, 2026 /PRNewswire-PRWeb/ — Innowise has officially secured a position on CRN’s 2026 Tech Elite 250. This annual ranking identifies IT solution providers across the US and Canada that have achieved top-tier status within the partner programs of the industry’s leading technology vendors. The inclusion follows a period of verified growth in technical proficiency and a focus on high-impact engineering.

“Innowise concentrates on creating scalable, resilient architectures that produce measurable benefits for our clients. The honor of being recognized by CRN highlights the commitment of our experts to maintain high standards in highly competitive markets,” said Dmitry Nazarevich, CTO at Innowise.

About the Tech Elite 250

The Tech Elite 250 is a directory of companies recognized as having the highest level of partnership and certifications within the global IT ecosystem. In order to reach the final list, the provider must hold the most advanced technical credentials from vendors like AWS, Cisco, Dell, HPE, IBM, Intel, Nutanix, and Nvidia.

This directory serves as a verified ledger for enterprise clients who need to orchestrate complex hardware and software stacks without letting legacy environments rot. Holding these certifications is mandatory to stop the cash bleed caused by inefficient infrastructure and unoptimized cloud usage.

About Innowise

Founded in 2007, Innowise is a global software engineering and IT consulting center. The company is focused on developing high-value technologies, including artificial intelligence, data engineering, and cloud computing. Innowise crafts technological solutions for companies across 40+ domains in order to assist them in updating, creating, and modernizing their digital ecosystems.

Innowise specializes in using established technologies and modular approaches to enable organizations to expand or shift their operations while retaining complete control over all their physical and intangible assets.

Media Contact

Lizaveta Piaskova, Innowise, 48 48 787 027 706, lizaveta.piaskova@innowise.com, innowise.com

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Neusoft Showcases Full-Stack & Global Innovations at Auto China 2026

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BEIJING, April 26, 2026 /PRNewswire/ — At Auto China 2026, Neusoft Corporation hosted a press conference on April 25th and announced three key strategic moves: the iteration of Neusoft OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0, the launch of Neusoft NAGIC.AI Cockpit Software Platform, and the strategic upgrade of its subsidiary, Neusoft Smart Go. By leveraging full-stack technology and a global ecosystem to drive innovation and empowerment, Neusoft is transforming vehicles into proactive, connected and collaborative mobile intelligent spaces.

OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0: An Evolved AI Companion for Global Intelligent Mobility

Intelligent mobility requires proactive perception, scenario integration, and global connectivity to meet personalized user needs and complex driving scenarios. Neusoft, whose products cover over 130 countries and regions worldwide, addresses these challenges with its OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0 through AI-driven innovation and global ecosystem collaboration. Powered by One Mate’s cross-agent collaboration and a sub-product matrix including One Map, One Sight, One Cloud, One Pay, One Store, One Link, and One Guard, the solution delivers full-link global mobility services spanning navigation, in-cabin AR, payment, app ecosystem services, connectivity and security. By breaking down functional silos, it streamlines multi-step operations into a single “depart” command, leveraging full-stack AI technology across perception, decision-making, interaction, and execution processes.

Guan Xin, Vice President of Neusoft and General Manager of Neusoft Automotive Innovative Solutions Division, said, “Adhering to the core principles of AI and globalization, OneCoreGo® 7.0 keeps innovating, evolving into a globally intelligent mobility companion that truly understands user needs.”

To enhance driving safety and mobility efficiency, OneCoreGo® 7.0 has also comprehensively upgraded its sub-products: One Map Global Navigation newly introduces 3D city effects, 3D lane-level maps, and traffic light guidance, offering dedicated solutions for two-wheelers and commercial vehicles as well. One Sight AR For Car improves navigation display effects, reducing instances of taking wrong routes. One Pay In-Vehicle Payment achieves over 90% payment coverage for parking services across core European cities. Combined with One Cloud’s global compliance cloud monitoring platform and One Guard’s full-stack vehicle networking security services, it creates a truly comprehensive OneCoreGo® Global In-Vehicle Intelligent Mobility Solution.

Neusoft NAGIC.AI Cockpit Software Platform: Dual-track Architecture for AI Integration in Every Vehicle

Amid the AI-driven transformation of the automotive industry, the market faces two challenges: limited computing power in legacy vehicles and high adaptation difficulties for next-gen models. Neusoft’s NAGIC.AI Cockpit Software Platform adopts a flexible “distributed + centralized” dual-track architecture approach. For existing vehicle models, it introduces the AI BOX solution, rapidly boosting computing power via external AI computing units, significantly reducing upgrade costs and timelines. For new vehicle models built on next-gen central computing platforms, Neusoft provides a full-stack AI cockpit software product suite, meeting automakers’ stringent requirements for system stability, reliability, and full-domain control.

Pang Hongyan, Vice President of Neusoft and General Manager of the Automotive Intelligent Software Division, said, “Our dual-track architecture enables every vehicle to embrace AI and enjoy an intelligent future. Both existing models and new-generation vehicles can find the most suitable path to intelligentization.”

Moreover, Neusoft’s NAGIC.AI Cockpit Software Platform features scenario-based, human-centric AI Agents seamlessly integrating driving safety, occupant care services, intelligent assisted driving and in-cabin entertainment. Neusoft also collaborates with global ecosystem partners to drive intelligent upgrades of in-cabin interaction products, fostering a more open and dynamic intelligent cockpit ecosystem.

Strategic Upgrade of Neusoft Smart Go: A World-leading Provider of Full-Domain Upper-Body Electronics Solutions for Intelligent Vehicles

Aligning with the trend of E/E architecture evolution from distributed control to “central computing + zonal control”, Neusoft Smart Go, a subsidiary of Neusoft in the field of intelligent vehicle connectivity, has completed a strategic upgrade, aiming to become a global leader in full-domain upper-body electronics solutions for intelligent vehicles.

This strategic upgrade positions Neusoft Smart Go to focus on full-domain scenarios in upper-body electronics, building a product matrix covering full-category in-vehicle electronics solutions, including central computing platforms, cockpit-driving-parking integration, intelligent cockpits, intelligent communications, intelligent audio systems, and zonal control units, and pioneering the integration of large model algorithms.

Jian Guodong, Senior Vice President of Neusoft and CEO of Neusoft Smart Go, said, “This strategic upgrade represents a significant leap from partial focus to comprehensive layout. Through our dual-track strategy of high-end cutting-edge solutions and mature standardized products, we can flexibly meet the mass production needs of vehicle models across different regions and price segments worldwide.” Neusoft Smart Go will provide mass-producible, adaptable hardware-software integrated solutions, empowering global automakers in achieving intelligent transformation.

Neusoft’s President, Mr.Gai Longjia stated, “In the future, Neusoft Smart Go will create stronger synergy with Neusoft Corporation by sharing internal technologies and capabilities while responding jointly to external demands. This specialized yet collaborative model will preserve business unit’s agility and expertise while enhancing Neusoft’s full-stack technological advantages.”

As a trusted partner in a smarter world, Neusoft is committed to collaborating with global automakers and ecosystem partners to build an open and inclusive intelligent automotive community together for the future of global mobility.

For more information about Neusoft, please visit www.neusoft.com.

 

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Lianlian DigiTech Returns to Money20/20 Asia to Expand Partnerships, Share Industry Trends, and Explore AI-Enabled Global Financial Infrastructure

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BANGKOK, April 26, 2026 /PRNewswire/ — Lianlian DigiTech, a leading global provider of digital payment services, was once again invited to participate in Money20/20 Asia, one of the world’s most influential fintech gatherings, held in Bangkok, Thailand from April 21 to 23. At the event, the company presented its latest developments in cross-border payment infrastructure, technology innovation, and ecosystem collaboration, offering a comprehensive view of its work enhancing global cross-border payment capabilities.

During the conference, Lianlian DigiTech announced a strategic partnership with UK-based fintech company USI Money to further strengthen its global cross-border payment network, delivering more efficient and reliable fund flows for merchants worldwide. Shen Enguang, Co-President of Lianlian DigiTech; Mark Ma, Head of Global Banking Partnership at LianLian Global; and Bryan Jiang, General Manager Hong Kong of LianLian Global, attended the event and engaged with representatives from international financial institutions. They shared perspectives on fintech trends and global payment innovation, offering industry insight into the continued evolution of a more integrated and interoperable cross-border payments ecosystem.

Building a Borderless Payment Network with Global Partners Including USI Money

At the event, Lianlian DigiTech formalized a strategic collaboration with London-headquartered USI Money to further develop its global payment infrastructure.

The partnership will focus on cross-border remittance and foreign exchange services, combining both companies’ technological capabilities and resources to deliver a one-stop payment and collection solution for global businesses. The offering is built to be efficient, secure, and cost-effective, improving overall fund flow efficiency and streamlining foreign exchange execution.

Syed Bukhari, Group Chief Business and Operating Officer at USI Money, said: “Our partnership with Lianlian will strengthen our remittance capabilities, creating greater value for our customers through broader network coverage and improved transaction performance.”

Bryan Jiang, General Manager Hong Kong of LianLian Global, said: “By leveraging the complementary strengths of our ecosystem partners in technology and compliance, Lianlian will continue to scale its global payment network and improve transaction efficiency. We remain committed to enhancing financial connectivity across global financial markets and delivering more efficient and reliable cross-border payment solutions for our customers.”

Founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (2598.HK), Lianlian DigiTech is a China-based, globally focused digital payment company with increasingly integrated AI capabilities across its platform. Guided by its mission of “Connecting the world, Empowering global commerce,” the company focuses on developing a trusted and scalable financial infrastructure. As of the end of 2025, Lianlian DigiTech has built a cross-border payment network covering more than 100 countries and regions, serving over 10.4 million customers worldwide.

USI Money is a foreign exchange and international remittance service provider offering tailored cross-border financial solutions for businesses and individuals. With competitive real-time exchange rates and efficient execution as its core strengths, the company delivers fast, secure, and reliable global fund transfers.

In addition, Lianlian DigiTech co-hosted a networking session with Unlimit during the event, providing a forum for industry dialogue. The session brought together a broad group of fintech partners to explore collaborative models and help foster a more connected ecosystem.

Industry Roundtables: Unlocking Layered Collaboration in AI-Driven Cross-Border Payments and Advancing Financial Inclusion in Emerging Markets

At the same time, Mark Ma and Bryan Jiang were invited to the themed roundtable discussions, where they shared insights drawn from industry practice and outlined new approaches to aligning fintech innovation with the global financial system.

At the roundtable on “Fintech and Banks,” Mark Ma noted that the global payment system is rapidly shifting from isolated capabilities to a layered, collaborative model. Banks continue to serve as the foundational infrastructure, responsible for clearing networks and liquidity management. Fintech firms like Lianlian, meanwhile, build on top of this foundation to deliver application-layer services for businesses, transforming complex cross-border payment channels into more accessible solutions that support a wider range of practical business scenarios. He also emphasized fintech’s growing role in compliance and value creation. By embedding risk controls and verification processes into technology workflows, fintech companies can act as compliance intermediaries, improving efficiency while filtering risk and enabling banks to operate more effectively at scale. Meanwhile, insights derived from transaction data and business flows allow for more precise evaluation of small and medium-sized businesses, shifting capital allocation from experience-based decisions to data-driven approaches and improving access to financial services.

At the roundtable titled “Different Worlds, Shared Challenges: Bridging Emerging Markets,” Bryan Jiang pointed out that the core of financial inclusion is shifting from scale of coverage to practical usability in everyday financial activity. The ability to serve underserved segments such as small and micro merchants and overseas workers in a sustained and reliable manner ultimately depends on continuous improvements in product design and operational capabilities. Using emerging markets as an example, Jiang explained that small and medium-sized businesses in these regions often face challenges such as difficult account setup, complex cross-border collections, high foreign exchange costs, and multi-layered tax requirements. Many existing solutions still follow traditional business-focused models, resulting in cumbersome KYB processes and lengthy review cycles that are misaligned with the asset-light, high-frequency, fast-turnover nature of these businesses. In response, Lianlian has lowered barriers to fund flows by offering local collection accounts, optimizing foreign exchange mechanisms, and improving settlement efficiency. The company has also restructured account architecture, streamlined review processes, and enhanced fund visibility, creating a more seamless and intuitive user experience that better aligns financial services with its clients’ business operations and day-to-day activities.

As digital technologies increasingly integrate with the real economy, innovations in AI and blockchain are reshaping the foundations of global financial services. Lianlian DigiTech has long invested in AI capabilities, global compliance, and the growth of its international service network. Its broad licensing coverage, regulatory track record, localized service capabilities, and technical reliability have earned the trust of regulators, customers, and partners worldwide.

Looking ahead, Lianlian DigiTech will continue to build on its cross-border expertise and compliance experience to further develop its AI capabilities and deepen collaboration with global partners. The company aims to extend its role beyond payment network services into more integrated financial infrastructure solutions. Lianlian DigiTech remains committed to serving as a trusted platform for global financial transactions in an increasingly digital environment, enabling businesses and individuals worldwide to access faster, more efficient, and more seamless cross-border financial services.

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