Market Snapshot:
Social commerce is the concept that refers to the buying and selling activities through social media platform. It also includes the social interaction and user contribution in the context of e-commerce transaction, to provide better customer decision-making process. The rapid proliferation of smartphone and social network service users and the incessantly improving internet infrastructure in emerging economies is expected to offer lucrative opportunity to the market players.
Highlights from Social Commerce Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 32.3% |
The key Vendors profiled in the report are Facebook (United States), Pinterest Inc. (United States), Tencent Holdings Limited (China), Verizon Media (United States), Alibaba Group (China), Etsy Inc. (United States), Fab Commerce and Design Inc. (United States), LinkedIn Corporation (United States), PayPal Holdings Inc. (United States) and Reddit (United States). Additionally, other players that are part of this comprehensive study are Sina Weibo (China), iQiyi (China) and Renren (China).
Geographic Breakdown and Segment Analysis
The Global Social Commerce market presents a comprehensive analysis of the Social Commerce market by end-user/application (Business to Business, Business to Customer and Customer to Customer), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Social Commerce industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Social Commerce market
Analyst at AMA have segmented the market study of Global Social Commerce market by Type, Application and Region.
Influencing Trend:
Technological Advances in Social Media and Increasing Adoption of Interactive advertising
Market Growth Drivers:
Rising Popularity E-Commerce Advertisers and The Increasing Sales of Tablets and Smartphones
Challenges:
Efforts required for customer engagement and retention
Restraints:
High Cost of Online Advertising in Various Regions and Adoption of Network Technology to Filter the ads
Opportunities:
Increasing Use of Social Media Advertising and Emergence of Innovative Ideas in media technology
Market Developments Activities:
In April 2024: Paramount, the entertainment provider partnered with Shopsense AI, an artificial intelligence (AI)-powered retail media platform to integrate mobile shopping opportunities into its content, both televised and streamed.
Regulatory Insights:
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance.
The social commerce market is highly competitive due to the presence of several well-established players. The vendors in the market compete based on product portfolio, pricing, delivery options, payment options, policies, varieties, offers, and technological advances. The vendors are also focusing on investing in planning, designing, developing, acquiring new players, and are also expanding their existing facilities.
Key Target Audience
Investors and consultants, Government Organizations, Research/Consultancy firms, Technology solution providers, IT Solution Providers and Advertising Companies