DUBLIN--(BUSINESS WIRE)--The "Social Commerce - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Social Commerce Market to Reach $8.5 Trillion by 2030
The global social commerce market is experiencing remarkable growth, surging from an estimated US$992.4 billion in 2022 to a projected size of US$8.5 trillion by 2030, showcasing a robust CAGR of 30.7% during the analysis period from 2022 to 2030.
This substantial growth is reflected in various market segments, including B2C, B2B, and C2C, encompassing product categories like apparel, personal & beauty care, accessories, home products, health supplements, food & beverage, and other product types.
In particular, the B2C segment is expected to achieve an impressive 31.9% CAGR, reaching a market size of US$5.2 trillion by the end of the analysis period, while the B2B segment is poised for growth with a 29.5% CAGR over the next eight years.
The U.S. Market is Estimated at $66 Billion, While China is Forecast to Grow at 33.5% CAGR
Geographically, the U.S. market for social commerce is estimated at $66 billion in 2022. Meanwhile, China, the world's second-largest economy, is forecasted to reach a substantial market size of US$4.7 trillion by 2030, driven by a remarkable CAGR of 33.5% during the period from 2022 to 2030.
Additionally, Japan and Canada are noteworthy markets, with growth rates of 23% and 24.2%, respectively, expected over the 2022-2030 period. Within Europe, Germany is forecasted to experience an approximate 25.2% CAGR, emphasizing the promising prospects of the social commerce market.
This comprehensive analysis covers key regions worldwide, including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa, providing invaluable insights into the evolving dynamics of the social commerce market. The market has consistently displayed robust growth trends from 2017 to 2030, with substantial annual revenue figures.
Economic Outlook
The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next.
Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape.
The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Key Topics Covered:
MARKET OVERVIEW
- Social Commerce - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- The Growing Role of Social Media in Marketing Opens the Pathway for Social Commerce
- Social Media Platforms Are the Cheapest Among Advertising Platforms: Average Cost Incurred to Reach 2000 Audience (In US$) by Type of Advertising Medium As of the Year 2021
- Social Media Marketing Gains Higher Grounds in the World of Digital Advertising: Social Network Ad Spending in the U.S. Presented as a % of Total Digital Ad Spending for the Years 2016, 2018, 2020 and 2022
- So How Fast Or Slow Are We Moving?
- Split Scenarios Unfold: The Great Vaccine Divide Emerges
- Time is of Essence! What We Know So Far - "Vaccine Efficiency Against New Strains is Decreasing"
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants, Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
- Overview of Social Commerce, Its Benefits and Significance
- Recent Market Activity
- Innovations
- World Brands
MARKET TRENDS & DRIVERS
- Internet Infrastructure, the Catalyst for Digitalizing Consumer Lifestyles Including Digital Social Presence
- Households With Fiber Connectivity Are No Strangers to Social Media Networking
- 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
- Smartphones, Tablets & Laptops Enable Social Networking On the Move, Making Social Commerce More Pervasive, Omnipresent & Hard to Beat: Global Annual Sales of Smartphones, Tablets, Laptops & Desktop PCs (In Million Units) for Years 2010, 2015, 2020 and 2025
- 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
FOCUS ON SELECT PLAYERS (Total 123 Featured)
- LinkedIn Corporation
- Bazaarvoice, Inc.
- Etsy, Inc.
- Groupon, Inc.
- Dash Hudson Inc.
- CommentSold, Inc.
- 3AL Universal Trade
- CoinLinked
- Komodaa
- Konvo
- Elenas
- Beautylish
- ConnectionPoint
- Dasdak Inc.
- LIKEtoKNOW.it
For more information about this report visit https://www.researchandmarkets.com/r/wo1vj8
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