The social commerce market share is estimated to grow at a CAGR of 31% between 2022 and 2027. The size of the market is forecast to increase by USD 4,196.98 billion. The social commerce market will witness a YOY of 29.3% in 2023.
“Personalized shopping experience and diverse product portfolios on social commerce platforms and Technological advancement in social media will boost the market growth”, says a senior analyst at Technavio.
Browse Technavio's 165-page report and in-depth TOC on "Social Commerce Market by the device (laptops and PCs, mobiles, tablets, and others), business segment (business to consumer, business to business, and consumer to consumer), and geography (APAC, North America, Europe, South America, and Middle East and Africa)."
View detailed Table of Contents Here: https://www.technavio.com/report/social-commerce-market-industry-analysis
The social commerce market by the laptops and PCs segment will be significant during 2023-2027. The growing popularity of social networking websites will contribute significantly to the growing market for social commerce. APAC will contribute 76% of the growth rate during the forecast period.
The increasing penetration of smartphones in APAC has resulted in a high amount of data traffic in the region. This can be attributed to the developing telecommunications infrastructure and the rising availability of mobile data-centric offerings from telecommunications companies.
Some of the key social commerce market vendors 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.
Some of the Vendor Offerings are:
advance.com- The company offers social commerce through the social media platform, Reddit.
alibabagroup.com- The company offers social commerce of goods such as clothes, accessories, and electronic items.
Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download the PDF Sample Report
The social commerce market report covers in-depth information about key vendors and their product offerings.
The key driver, trends and challenges, market opportunities, and the detailed market impact analysis
Five force analysis to analyze the potential of buyers and suppliers and the competitive industry scenario.
Social commerce industry across APAC, North America, Europe, South America, and Middle East and Africa.