Social Commerce Market Dominates Revenue, Aims for USD 6,341.3 Billion by 2030

Key Points and Statistics on the Social Commerce Market:
● The market size is expected to reach USD 6,341.3 billion by 2030.
● In 2021, the Asia-Pacific Social Commerce market accounted for over USD 399.5 billion.
● North America is anticipated to experience a CAGR of over 29% from 2022 to 2030.
● The B2C business model dominated with 56% shares in 2021.
● Video commerce, as a platform/sales channel, generated USD 241.3 billion in revenue in 2021.
● The rising trend of social media advertising is propelling market demand.

The Social Commerce Market is witnessing a remarkable surge, with projections indicating a growth from USD 561.1 billion in 2021 to an astounding USD 6,341.3 billion by 2030, advancing at a CAGR of 31.1% from 2022 to 2030.
Social commerce represents a blend of e-commerce and social media, enabling businesses to engage with customers through social channels and allowing consumers to make purchases within a social media platform. This seamless integration offers a personalized and convenient shopping experience, leveraging the vast reach of social media to influence consumer behavior.

Download Sample Report Copy of This Report from Here: https://www.acumenresearchandconsulting.com/request-sample/3106

Social Commerce Market Overview and Analysis:
The Social Commerce Market encapsulates the integration of social media platforms and networks in facilitating the purchase and sale of products and services, a trend that is rapidly gaining momentum globally. The market is thriving due to the increased use of social media and e-commerce platforms, the rising popularity of online sales, and the growing penetration of smartphones. The youth population in emerging countries and the convenience of shopping on the go are significant contributors to this growth. However, concerns over fraudulent activities and stringent regulations in certain countries pose challenges to the market.

Latest Social Commerce Market Trends and Innovations:
Innovations in the market are being driven by the need for more interactive and engaging product showcases, especially for products that are difficult to demonstrate traditionally. Video commerce is becoming increasingly popular as consumers turn to online video for entertainment and information.

Major Growth Drivers of the Social Commerce Market:
Increased use of social media: Social media platforms have become an integral part of our lives. We use them to stay connected with friends and family, share news and information, and express ourselves. This widespread use of social media has created a perfect opportunity for businesses to reach a large audience and promote their products and services.
Rising penetration of smartphones: Smartphones have become ubiquitous, with more than 6 billion people around the world owning one. This has made it easy for people to access social media and shop online from anywhere.
Growing trust in social proof: Social proof is a powerful psychological phenomenon that influences our behavior. When we see that other people are buying and using a product, we are more likely to trust it and buy it ourselves. This is why social media is such a powerful platform for businesses to promote their products and services.

Key Challenges Facing the Social Commerce Industry:
The industry is grappling with the rise in fraudulent activities on social media platforms and the safety concerns regarding personal and financial information. Moreover, strict regulations and environmental concerns over the impact of digital consumption are additional hurdles.

Market Segmentation Insights:

Based on Product Type
● Apparels
● Accessories
● Health Supplements
● Personal & Beauty Care
● Food & Beverage
● Home Products
● Other

Based on Business Model
● Business to Consumer (B2C)
● Consumer to Consumer (C2C)
● Business to Business (B2B)

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

Overview by Region of the Social Commerce Market:
The Asia-Pacific region is dominating the market, with a significant share attributed to its large, active social media user base. North America is expected to witness a substantial growth rate, with social commerce sales projected to be significant.

Social Commerce Market Table of Content:

CHAPTER 1. Industry Overview of Social Commerce Market

CHAPTER 2. Research Approach

CHAPTER 3. Market Dynamics And Competition Analysis

CHAPTER 4. Social Commerce Market By Product Type

CHAPTER 5. Social Commerce Market By Business Model

CHAPTER 6. Social Commerce Market By Platform/Sales Channel

CHAPTER 7. North America Social Commerce Market By Country

CHAPTER 8. Europe Social Commerce Market By Country

CHAPTER 9. Asia-Pacific Social Commerce Market By Country

CHAPTER 10. Latin America Social Commerce Market By Country

CHAPTER 11. Middle East & Africa Social Commerce Market By Country

CHAPTER 12. Player Analysis Of Social Commerce Market

CHAPTER 13. Company Profile

List of Key Players in the Global Market:
Notable companies in the market include Etsy, Inc., Meta Platforms, Inc. (Facebook), Meesho, Xiaohongshu, Pinterest, Inc., Pinduoduo Inc., Poshmark, Roposo, Taobao, Snap, Inc., TikTok (Douyin), Trell Shop, WeChat (Weixin), Twitter, Inc., and Yunji Sharing Technology Co., Ltd.

Ask Query Here: Richard@acumenresearchandconsulting.com or sales@acumenresearchandconsulting.com

To Purchase this Premium Report@ https://www.acumenresearchandconsulting.com/buy-now/0/3106

201, Vaidehi-Saaket, Baner - Pashan Link Rd, Pashan, Pune, Maharashtra 411021

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

This release was published on openPR.