Live Commerce Platforms Global Market Report 2024 - By Demand, Report, Size, Share, Outlook By 2033

The live commerce platforms market size has grown exponentially in recent years. It will grow from $1.02 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period can be attributed to rise of e-commerce, advancements in live streaming technology, growth of influencer marketing, increase in mobile internet usage, and expansion of social media platforms.

The live commerce platforms market size is expected to see rapid growth in the next few years. It will grow to $2.88 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The growth in the forecast period can be attributed to integration of augmented reality (AR) and virtual reality (VR), adoption of artificial intelligence (AI) for personalized shopping experiences, expansion of 5G networks, emergence of blockchain for secure transactions, and shift towards sustainable and eco-friendly practices. Major trends in the forecast period include hybrid online-offline shopping experiences, emergence of niche influencer-led marketplaces, growth of live auction and bidding formats, rise of social commerce and shoppable content, development of interactive and gamified shopping experiences.

Market Overview -
Live commerce platforms are digital channels that combine live video streaming with the ability to purchase products in real-time. They are used for interactive online shopping experiences, where viewers can watch live demonstrations, interact with hosts or sellers through comments, and purchase directly during the broadcast. This approach enhances customer engagement, provides immediate feedback and query resolution, and boosts sales by leveraging the immediacy and interactivity of live streaming.

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Navigating The Growth Of Live Commerce Platforms Amidst Expanding Internet Access
The increasing internet penetration is expected to propel the growth of the live commerce platform market going forward. The Internet is a global network of computers enabling users to access and exchange information, and its demand stems from its ability to provide instant access to vast resources, communication, and services. The widespread adoption of smartphones and other mobile devices with internet connectivity capabilities has significantly increased internet penetration, enabling live commerce platforms to connect sellers with a global audience instantly and facilitating real-time interaction and transactions. For instance, in September 2023, according to a report published by the International Telecommunication Union (ITU), a Switzerland-based United Nations specialized agency, the number of internet users worldwide rose to 5.4 billion in 2023, up from 5.1 billion users (64%) in 2022. Therefore, the increasing internet penetration is driving the growth of the live commerce platform market.

Competitive Landscape -
Major companies operating in the live commerce platforms market are Amazon.com Inc., JD.com Inc., Meta Platforms Inc., Tencent Holdings Limited, Pinduoduo Inc., Rakuten Group Inc., Kuaishou Technology Inc., Suning Appliance Group Co. Ltd., ByteDance Ltd., Klarna Bank AB (publ), Weibo Corporation, Mercari Inc., Taobao, Hopin Limited, Zappos.com LLC, CommentSold, StreamYard Inc., Shopmatic Pvt. Ltd., Restream Inc., GhostRetail Inc., Crowdcast Inc., Streamlabs Inc., TalkShopLive Inc., Livescale Solutions GmbH, Giosg.com Ltd.

AnyMind Group Unveils AnyX To Streamline Business Supply Chain
Major companies operating in the live commerce platform market are focused on developing innovative products, such as AnyX, to enhance their financial performance in the market. The platform provides an all-encompassing e-commerce management solution by integrating various platforms. For instance, in April 2022, AnyMind Group, a Singapore-based technology company for the business supply chain, introduced AnyX. This platform seamlessly integrates with its suite of services, including AnyFactory for production, AnyManager for data analytics and revenue generation, AnyChat for chat-based commerce, AnyTag for influencer engagement and social analytics, AnyDigital for online marketing, and AnyLogi for logistics oversight. Additionally, AnyX is designed to automate various operations across its integrated platforms, facilitating tasks such as order processing, inventory distribution, and control and managing pricing and revenue strategies.

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Key Segments -
The live commerce platforms market covered in this report is segmented -
1) By Type: E-Commerce Self-Built Platform, Content Community Platform, Traditional Social Platform
2) By E-Commerce Model: Business To Business (B2B), Business To Customer (B2C)
3) By Category: Apparel And Fashion, Cosmetics And Personal Care, Consumer Electronics, Furnishing, Entertainment, Other Categories

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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