Social Commerce Market Insights 2024-2030: Innovations, Applications, and Growth Strategies


Posted July 15, 2024 by sswadekar

The Social Commerce Market size was valued at USD 913.4 Billion in 2023 and the total Social Commerce Market revenue is expected to grow at a CAGR of 31.60% from 2024 to 2030, reaching nearly USD 6243.9 Billion.
 
Social Commerce Market Growth or Demand Increase or Decrease for what contains?

Using social networks and digital media to streamline transactions between companies and customers, social commerce is a quickly expanding subset of e-commerce. A variety of activities are included in social commerce, such as product research, ratings, reviews, sharing, recommendations, transactions, and loyalty programmes. By using social media as a marketing and sales channel, social commerce market organisations hope to build a direct relationship with their customers by facilitating relevant interactions on various social media platforms.

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Social Commerce Market CAGR Estimation:

The Social Commerce Market size was valued at USD 913.4 Billion in 2023 and the total Social Commerce Market revenue is expected to grow at a CAGR of 31.60% from 2024 to 2030, reaching nearly USD 6243.9 Billion.

Social Commerce Market Segmentation:

by Business Model
Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)

In 2023, the Business to Consumer (B2C) segment accounted for over 55% of the total revenue generated by the social commerce industry, holding the most market share based on business model. B2C social commerce platforms provide a range of tools and resources to help companies market and advertise their goods to customers. Features including product listings, reviews, opinions, social media sharing options, and payment processing systems are examples of services provided under the B2C business model.

by Product Type
Personal and Beauty Care
Apparel
Accessories
Home Products
Health Supplements
Food and Beverage
Others

by Platform/Sales Channel
Video Commerce (Live stream + Prerecorded)
Social Network-led Commerce
Social Reselling
Group Buying
Product Review Platforms

In terms of Platform/Sales Channel, live streaming and pre-recorded material together made up the video commerce category in 2023. This segment is predicted to continue to dominate the social commerce market for the duration of the forecast. Particularly with regard to live commerce, it is noteworthy because it is captivating and holds the attention of viewers, hence lengthening their total viewing duration when live streaming. This strategy leads customers from comprehending a product to making a purchase while simultaneously captivating the audience and streamlining the decision-making process.

by Device Type
Smartphone
Laptop
Tablets

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Social Commerce Market Overview:

The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Social Commerce market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.

Social Commerce Market Growth or Demand in which regions??

The Social Commerce market's growth and demand are geographically varied, with significant activity in several key regions. Asia-Pacific, particularly China and India, is experiencing robust demand due to the extensive agricultural activities and the need for high crop yields to feed their large populations. North America, led by the United States, also shows substantial demand, driven by advanced agricultural practices and the production of biofuels. In the Middle East and Africa, countries like Morocco, which holds significant Social Commerce reserves, are pivotal players in the market, supplying both domestic and international demand. Latin America, especially Brazil, is seeing increased demand due to its expansive agricultural sector. Meanwhile, Europe is experiencing steady demand, influenced by environmental regulations and sustainable agricultural practices. These regional dynamics collectively shape the global Social Commerce market's growth trajectory.

Social Commerce Market Scope & Methodology:

The competitive landscape of the Social Commerce market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Social Commerce market. The report employed a bottom-up approach to ascertain Social Commerce market estimations and growth rates.

To gain insights into Social Commerce market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Social Commerce market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.

Both primary and secondary data gathering techniques were employed for the Social Commerce Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Social Commerce Market.

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Social Commerce Market Key Players:

1. eBay (USA)
2. Facebook (USA)
3. Twitter (USA)
4. Pinterest (USA)
5. PayPal (USA)
6. Instagram (USA)
7. Verizon Communications Inc. (USA)
8. Poshmark Inc. (USA)
9. Etsy Inc (USA)
10. Poshmark Inc. (USA)

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Key questions answered in the Social Commerce Market are:

What is Social Commerce ?
What is the growth rate of the Social Commerce Market?
Which are the factors expected to drive the Social Commerce market growth?
What are the different segments of the Social Commerce Market?
What are the factors restraining the growth of the Social Commerce Market?
What is the demand pattern of the Social Commerce Market?
What major challenges could the Social Commerce Market face in the future?
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Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment |
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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Last Updated July 15, 2024