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Social Commerce Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
Social Commerce Market
Social Commerce Market Size, Growth Rate, And Forecast
The global social commerce market size grew from $534.03 billion in 2022 to $565.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The social commerce market size is expected to grow to $689.56 billion in 2027 at a CAGR of 5.1%.
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Social Commerce Market Drivers
The increase in social media usage is expected to propel the growth of the social commerce market in the forecast period. People are increasingly using social media platforms including Youtube, Facebook, and Instagram for multiple purposes. There is an increase in the usage of social media during COVID-19 times as people are not allowed to go out and even shopping and other marketing is done through social media.
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Social Commerce Market Segments
• By Product Type: Personal And Beauty Care, Apparel, Accessories, Home Products, Health Supplements, Food And Beverage, Other Products
• By Device Type: Laptops And PCs, Mobiles, Other Devices
• By Bussiness Model: B2C, B2B, C2C
• By End User: Individual, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the social commerce market.
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Social Commerce Market Key Players
Major competitors in the social commerce market include Facebook, Pinterest, Etsy Inc., Poshmark Inc., Paypal Payments Private Limited, iQIYI, Sina Corporation, Microsoft Corporation.
The Business Research Company's "Global Social Commerce Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Social Commerce Market Include:
1. Executive Summary
2. Social Commerce Market Characteristics
3. Social Commerce Market Trends And Strategies
4. Social Commerce Market - Macro Economic Scenario
5. Social Commerce Market Size And Growth
……
26. Africa Social Commerce Market
27. Social Commerce Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Social Commerce Market
29. Social Commerce Market Future Outlook and Potential Analysis
30. Appendix
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