Technology

Online Auction Market to Grow by USD 3.08 Billion (2024-2028), Shift to Online Auctions Boosting Growth, AI Transforming Market Trends – Technavio

Published

1 year ago

November 25, 2024

NEW YORK, Nov. 25, 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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Online Auction Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 12.36%

Market growth 2024-2028

USD 3076.64 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.27

Regional analysis

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

Performing market contribution

North America at 41%

Key countries

US, China, Japan, UK, and Germany

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.

Market Driver

Online auctions have seen in popularity among younger audiences, with the internet providing a convenient platform for buying and selling fine art, jewels and watches, cars, and various collectibles. Artificial Intelligence (AI) is used for fraud prevention and anti-money laundering, ensuring secure transactions. Pricing is automated, and data collection enables personalization and accessibility. Security concerns are addressed with encryption and secure payment options. Smartphone penetration drives e-commerce growth, enabling bidding on-the-go. Digital transformation brings affordability, enhanced viewing experience through AR and VR, and ethical sourcing of eco-friendly materials. Sellers, auctioneers, and bidders benefit from increased accessibility and internet access. Digital assets, paintings, antique goods, electronics, and artistic goods are all up for grabs, with credit card numbers, home addresses, and phone numbers protected. Online auctions offer convenience and collectability, making them an essential part of the modern marketplace.

Online auctions are experiencing growth with the integration of Artificial Intelligence (AI) technology. AI platforms employ machine learning and algorithms to provide bidders with transparent, user-friendly, and decisive information. During online auctions, AI automates various processes, including internal operations, customer service inquiries, equipment packaging, and delivery. In March 2018, TradeRev, a KAR Auction Services Inc. (KAR Auction Services) subsidiary, introduced H, an AI-driven tool for dealer-to-dealer vehicle auctions, streamlining the bidding process.

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Market Challenges

Online auctions have gained significant traction in the business world, particularly among younger audiences. The internet has made it possible for people to buy and sell fine art, jewels and watches, cars, and various collectibles from anywhere, at any time. However, this digital transformation comes with challenges. Fraud prevention and anti-money laundering are crucial concerns for online auction platforms. Pricing, data collection, and automation require sophisticated systems, including Artificial Intelligence (AI), to ensure fairness and accuracy. Security is paramount, with payment options, credit card numbers, home addresses, and phone numbers all requiring protection. E-commerce and digitalization have opened up new markets for auctioneers, bidders, and sellers. Smartphone penetration has made accessibility easier than ever. However, sustainability and affordability are essential factors for buyers. Collectors seek enhanced viewing experiences through Augmented Reality (AR) and Virtual Reality (VR). Ethical sourcing and eco-friendly materials are also becoming important considerations. Sellers must navigate the complexities of auctioneering in the digital age, while bidders demand convenience and personalization. Auction platforms must balance these needs with the challenges of pricing, data collection, and security concerns. The future of online auctions lies in embracing these challenges and continuing the digital transformation.Online auctions have gained significant traction, yet they face a persistent issue with shill bidding. This deceptive practice involves a seller or their associates placing bids to manipulate the price of goods in forward auctions, or lower it in reverse auctions. Investigating numerous auctions and bidders for such activities is challenging, especially on digital platforms. Collaborative bidding among multiple users is a common tactic in online auctions, but shill bidding is an illegal attempt to boost interest and artificially inflate or deflate prices.

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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 major revenue generator in 2023. This growth can be attributed to the widespread passion for acquiring collectibles with historical value among people. Online auctions eliminate geographical barriers, enabling collectors worldwide to participate and broaden their search for rare items. These platforms extend the reach of collectible auctions beyond local markets, increasing the pool of potential buyers and sellers. Detailed information, images, and histories available online enhance transparency, instilling trust and confidence among collectors. As technology advances and more individuals embrace online transactions, the collectibles segment is expected to experience substantial growth during the forecast period.

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Research Analysis

The online auction market is experiencing explosive growth, particularly among younger audiences who prefer the convenience and accessibility of buying and selling on digital platforms. Fine art, jewels and watches, cars, and other valuable items are increasingly being bought and sold through online auctions on the Internet. Artificial Intelligence (AI) is revolutionizing the industry with fraud prevention and anti-money laundering measures, while automation, personalization, and data collection enhance the user experience. Security concerns and payment options are key considerations, with smartphone penetration driving the growth of e-commerce and digital transformation. Sustainability, affordability, collectability, and convenience are also major factors. Enhanced viewing experiences through AR and VR technology are bringing auctioneers and bidders closer together than ever before.

Market Research Overview

Online auctions have gained significant popularity among younger audiences, offering a convenient and accessible way to buy and sell fine art, jewels and watches, cars, and various collectibles on the internet. This digital transformation in the auction industry is driven by online platforms that leverage Artificial Intelligence (AI) for fraud prevention, anti-money laundering, and pricing. Data collection and automation enable personalization, while security concerns are addressed through advanced encryption and multi-factor authentication. Payment options are diverse, including credit cards and e-wallets, with smartphone penetration making bidding on-the-go a reality. E-commerce and sustainability are essential factors, with ethical sourcing, eco-friendly materials, and ethical practices becoming increasingly important. The enhanced viewing experience is made possible through Augmented Reality (AR) and Virtual Reality (VR), allowing bidders to inspect items in detail before placing a bid. Auctioneers, sellers, and bidders benefit from the convenience and affordability of online auctions, with digital assets like paintings, antique goods, electronics, and artistic goods also finding a place in this dynamic market.

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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SOURCE Technavio

Technology

Greenzie releases 2025 Annual Safety Report, documenting multi-year safety performance at commercial scale

Published

2 hours ago

April 23, 2026

The data shows zero lost-time injuries, zero OSHA medical attentions and zero human near-misses across real-world operation

ATLANTA, April 23, 2026 /PRNewswire/ — Greenzie, the technology platform powering commercial autonomy across multiple OEMs, today shared multi-year safety data from real-world commercial operation, documenting more than 150,000 autonomous miles with zero lost-time injuries, zero OSHA medical attentions and zero human near-misses. The data is published in Greenzie’s 2025 Annual Safety Report, available at greenzie.com/safety.

The report is based on extensive operational data spanning more than 5.4 billion square feet of turf mowed, 68,000+ hours of autonomous mowing and more than 50,000 operator days, the equivalent of 265 mowing seasons.

“Greenzie is helping define safety in autonomous landscape operations, and transparency is a critical part of that,” said Steve Bush, chief operating officer of Greenzie. “These results show that commercial autonomy is operating safely at meaningful scale in the field. Transparency matters because as this category matures, real-world data helps build confidence in what responsible deployment looks like.”

The report’s findings are particularly significant in the context of the U.S. landscaping industry, which employs roughly 1.3 million workers and experiences a higher-than-average rate of workplace accidents compared to other fields. Greenzie’s multi-year operating data shows that autonomy is not theoretical; it is already being deployed consistently and performing safely at scale.

“Greenzie Powered Autonomy™ has been validated through years of sustained use in the field,” Bush said. “That level of real-world performance reinforces both the reliability of our platform and the broader readiness of commercial autonomy.”

Greenzie attributes this performance to a disciplined safety approach that includes robust perception, tested operating standards and continuous validation in real-world commercial environments.

For more information about Greenzie, visit greenzie.com.

About Greenzie

Founded in 2018, Greenzie is the technology platform powering commercial autonomy. Created to solve the landscape industry’s labor and productivity challenges, Greenzie works with leading equipment manufacturers to deliver the software, navigation and safety systems that enable mowing and other outdoor power equipment to operate autonomously in real-world commercial environments. Today, Greenzie’s platform is running on hundreds of machines in active use, helping manufacturers bring autonomy to market and allowing operators to get more done with limited labor—moving autonomy from early experimentation to everyday operations. For more information, visit greenzie.com.

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SOURCE Greenzie

Technology

CGI renews global SAP S/4HANA operations and SAP BTP operations certifications, reinforcing its consistent, quality delivery at scale

Published

2 hours ago

April 23, 2026

Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
cgi.com/newsroom

MONTRÉAL, April 23, 2026 /CNW/ – CGI (NYSE: GIB) (TSX: GIB.A), one of the largest independent IT and business consulting services firms in the world, announced that it has achieved the following recertifications for its global operation capabilities:

SAP S/4HANA operations and works with RISE with SAP SAP BTP operations and works with RISE with SAP

These recertifications highlight CGI’s ability to deliver consistent, high-quality managed SAP services and operations across regions, including services aligned with RISE with SAP. CGI’s SAP-based services help clients reduce operational risk, improve performance and efficiency and scale transformation with greater predictability. This also builds on CGI’s SAP alliance relationship momentum, including its recent AWS SAP Competency Partner status which highlights CGI’s expertise in modernizing mission-critical SAP workloads with AI-enabled cloud solutions.

“Running SAP at enterprise scale requires a partner with proven capabilities, delivery discipline and the ability to innovate securely, including through the integration of AI to deliver tangible outcomes,” said Didier Thérond, President, CGI France operations, and Global Executive Sponsor for CGI’s partnership with SAP. “These global recertifications reinforce CGI’s end-to-end SAP capabilities, including AI-enabled services, helping clients operate mission-critical systems with confidence and advance their modernization and cloud strategies.”

“CGI remains a trusted partner in our SAP Operations Partner program, consistently demonstrating a structured and disciplined approach to certification,” said Rudolf Scheipers, VP, Head of SAP Operations Partner Certification, SAP Partner Innovation Lifecycle Services. “These recertifications highlight the company’s mature operating model and commitment to the high standards we expect globally, ensuring clients running SAP environments can rely on consistent, secure, and efficient operations.”

CGI’s global alliance strategy features partnerships with more than 150 technology companies and supports its local relationship model complemented by a global delivery network. Through its SAP alliance, CGI helps organizations accelerate innovation, deploy and manage SAP solutions globally, and deliver industry-specific business outcomes with rapid, scalable, and AI-enabled cloud and ERP services.

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2025 reported revenue is CA$15.91 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

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SOURCE CGI Inc.

Technology

Scholastic Corporation Announces Final Results of Modified Dutch Auction Tender Offer

Published

2 hours ago

April 23, 2026

NEW YORK, April 23, 2026 /PRNewswire/ — Scholastic Corporation (the “Company” or “Scholastic”) (Nasdaq: SCHL), the global children’s publishing, education and media company, today announced the final results of its “modified Dutch Auction” tender offer for shares of its common stock, which expired at 5:00 p.m., New York City time, on April 20, 2026.

Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 2,834,018 shares of Scholastic’s common stock, par value $0.01 per share (each share of Scholastic’s common stock, a “Share,” and collectively, “Shares”), were properly tendered and not properly withdrawn at or below the purchase price of $40.00 per Share, including 989,343 Shares that were tendered by notice of guaranteed delivery.

Scholastic has accepted for purchase a total of 2,834,018 Shares through the tender offer at a price of $40.00 per Share, for an aggregate cost of $113,360,720.00, excluding fees and expenses relating to the tender offer. The total of 2,834,018 Shares that Scholastic has accepted for purchase represents approximately 13.7% of the total number of Shares outstanding as of April 19, 2026.

J.P. Morgan Securities LLC served as the dealer manager for the tender offer. Georgeson LLC served as the information agent. Holders of common stock who have questions or need information about the tender offer may call Georgeson LLC at (866) 539-9980 (toll free). Banks and brokers may call Georgeson at (866) 539-9980 or J.P. Morgan Securities LLC at (877) 371-5947 (toll free).

About Scholastic

For more than 100 years, Scholastic Corporation (Nasdaq: SCHL) has been meeting children where they are – at school, at home and in their communities – by creating quality content and experiences, all beginning with literacy. Scholastic delivers stories, characters, and learning moments that empower all kids to become lifelong readers and learners through bestselling children’s books, literacy- and knowledge-building resources for schools including classroom magazines, and award-winning, entertaining children’s media. As the world’s largest publisher and distributor of children’s books through school-based book clubs and book fairs, classroom libraries, school and public libraries, retail, and online, and with a global reach into more than 135 countries, Scholastic encourages the personal and intellectual growth of all children, while nurturing a lifelong relationship with reading, themselves, and the world around them. Learn more at www.scholastic.com.

Forward-Looking Statements

This news release contains certain forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties, including the conditions of the children’s book and educational materials markets generally and acceptance of the Company’s products within those markets, and other risks and factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.

SCHL: Financial

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SOURCE Scholastic Corporation