USD 4196.98 billion growth in Social Commerce Market from 2022 to 2027; The market is fragmented due to the presence of prominent companies like Advance, Alibaba Group Holding Ltd. and Automattic Inc., and many more - Technavio

NEW YORK, Jan. 19, 2024 /PRNewswire/ -- The social commerce market is estimated to grow by USD 4196.98 billion from 2022 to 2027, growing at a CAGR of 31%. The social commerce market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer social commerce market are Advance, Alibaba Group Holding Ltd., Automattic Inc., ByteDance Ltd., Charlton Media Group, Etsy Inc., Eventbrite Inc., Fashnear Technologies Pvt. Ltd., iQIYI Inc., Meta Platforms Inc., Microsoft Corp., One97 Communications Ltd., PayPal Holdings Inc., PDD Holdings, Renren Inc., Shopify Inc., SINA Corp., Twitter Inc., Verizon Communications Inc., and Tencent Holdings Ltd.

The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying

• Advance- The company offers social commerce through the social media platform, Reddit
• Alibaba Group Holding Ltd. - The company offers social commerce of goods such as clothes, accessories, and electronic items.
• Automattic Inc. - The company offers social commerce through the social media platform, Tumblr.
• For details on companies and their offerings – Buy a report!

Based on Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. APAC is estimated to contribute 76% to the growth of the global market during the forecast period. In the Asia Pacific (APAC) region, the Social Commerce Market is thriving with the rise of E-commerce platforms and Social media networks. Influencers play a crucial role in driving user-generated content and Social shopping experiences. Digital marketing strategies leverage Social media advertising and customer reviews to enhance engagement. Online storefronts and Mobile commerce are increasingly integrated with Social shopping apps, creating virtual storefronts that foster Social media integration. Social media influencers are instrumental in shaping customer engagement, and businesses are actively strategizing Social commerce trends and strategies to tap into vibrant shopping communities.

Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

• Personalized shopping experience and diverse product portfolios on social commerce platforms is a key factor driving market growth
• Technological advances in social media are  major trend in the market
• Stringent rules by the government are a significant challenge in restricting market growth.

Based on devices, the market is classified into laptops and PCs, mobiles, tablets, and others. The laptops and PCs segment is estimated to witness significant growth during the forecast period. Th segment plays a pivotal role in the Social Commerce Market. It enhances the social shopping experience by leveraging social commerce platforms and social media marketing to reach a wider audience. Customer feedback and peer recommendations are integral, in influencing purchasing decisions. Social commerce tools and solutions facilitate seamless transactions within the social commerce ecosystem. Brand collaborations and innovations drive social commerce adoption and growth, shaping the future landscape of online retail. These elements converge to create a dynamic environment where social interactions and commerce converge to shape consumer behavior and preferences.

Technavio Research experts have provided more insights on the market share of segments - View the Free Sample Report

Social Commerce Market; Related Reports

The online auction market size is estimated to grow at a CAGR of 12.36% between 2023 and 2028. The market size is forecast to increase by USD 3,076.64 million.

The e-commerce fulfillment service market size is forecast to increase by USD 90.58 billion, at a CAGR of 13.5% between 2023 and 2028. 

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Device

7 Market Segmentation by Business Segment

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio