The global online multi level marketing services market is projected to reach USD 31.74 billion by 2024 from USD 16.24 billion in 2019, at a CAGR of 13.6% during the forecast period. The major factors driving the growth of the market are the increasing use of social media for product promotion and the shifting preference of customers from offline to online channels. The online multi level marketing services market is segmented based on type, platform, and geography. Based on type, the market is classified into web development, web design, social media marketing, and search engine optimization. Among these, the web development segment is anticipated to grow at the highest CAGR during the forecast period. The platform segment includes small and medium enterprises, and large enterprises. The small and medium enterprises segment is expected to grow at the highest CAGR during the forecast period. Geographically, the online multi level marketing services market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America. The APAC region is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the presence of a large number of small and medium enterprises in the region.
The online multi level marketing services industry is growing rapidly with more and more companies offering these services. These services allow businesses to market their products and services to a wider audience through the use of the Internet. There are many benefits to using these services, including the ability to reach a global audience, the ability to track results, and the ability to target specific markets.
The online multi level marketing services industry is forecast to grow at a compound annual growth rate of 10.3% from 2018 to 2023, according to a new report by MarketsandMarkets. This growth is primarily driven by the increasing use of social media and the internet for marketing purposes. The report also cites the growing trend of companies using online platforms to reach out to their target audiences.