Social Commerce Global Market Report 2022: Augmented Reality & Virtual Reality Emerge to Revolutionize Social Commerce

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Jul 14, 2022, 05:45 ET

DUBLIN, July 14, 2022 /PRNewswire/ -- The "Social Commerce - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Social Commerce Market to Reach US$2.9 Trillion by the Year 2026

Amid the COVID-19 crisis, the global market for Social Commerce was estimated at US$559.7 Billion in the year 2020, and is projected to reach a revised size of US$2.9 Trillion by 2026, growing at a CAGR of 30.8% over the analysis period.

The fast changing consumer mobile usage habits continue to foster growth in the electronic commerce, mobile commerce and social commerce markets. Enormous growth in adoption of 4G enabled smartphones, expanding deployment of 4G networks, and subsequent rise in number of people accessing online multimedia content over mobile handsets are also boosting market prospects for online shopping and social commerce.

Spiraling global sales of smartphones coupled with widespread consumer acceptance of Mobile value added services (M-VAS), such as, Mobile Internet browsing, mobile games, mobile social networking, mobile music, mobile payments, mobile wallet, mobile learning, and mobile Location-Based-Services (LBS), bode well for social commerce.

Social commerce is advancing with the addition of advanced technologies (for instance Augmented Reality) that allows shoppers to visualize themselves wearing the clothing items they wish to purchase and also solicit feedback using social media tools. The rise of e-commerce catalyzed by the pandemic is expected to boost market prospects in the coming years.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Internet Infrastructure, the Catalyst for Digitalizing Consumer Lifestyles Including Digital Social Presence
Mobile Computing Devices Are a Ubiquitous Indicator of Modern Digital Life
Changing Consumer Mobile Usage Habits Beyond Just Voice Communication Encourage the Social Commerce Concept
Spiraling Mobile Broadband Subscriptions Bode Well for Social Commerce
With Mobility On the Rise, Social Commerce is Set to Explode: Global Number of Mobile Subscribers (In Billion) for Years 2018 Through 2023
The Future of 5G is Unquestioned: 5G Contribution to GDP in Select Countries by 2030 (In US$ Billion)
As a Powerful Communication Medium, Here's Why Vendors & Advertisers Cannot Ignore Social Media
With a Powerful Global Presence & Reach, Social Media Platforms Are Vital for Brands to Ensure Consistent Audience Growth: Global Number of Social Media Users (In Billion) for Years 2017, 2019, 2021, 2023, 2025
This Is Why Vendors Should Care About Social Commerce: % of Social Media Users by Use Frequency as of the Year 2021
The Rise of e-Commerce Catalyzed by the Pandemic Shifts Growth Into High Gear in the Social Commerce Market
Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
Retail M-Commerce Sales as % of Retail E-commerce Sales Worldwide for the Years 2016, 2018, 2020 & 2022
Pandemic Fast Forwards eCommerce Growth
Vital Role of Social Commerce in an eCommerce Strategy
Artificial Intelligence Emerges to Revolutionize Digital & Social Commerce
Augmented Reality & Virtual Reality Emerge to Revolutionize Social Commerce
Blockchain Benefits in Social Media & Social Commerce
Security & Privacy Concerns & Legal Issues: The Biggest Challenges for Social Commerce