The Social Commerce Global Market Report 2023 by The Business Research Company, provides social commerce market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Social Commerce Global Market Report 2023, the market size is expected to grow 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 market size of global social commerce market is expected to grow to $689.56 billion in 2027 at a CAGR of 5.1%.
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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The social commerce market is segmented:
1) By Product Type: Personal And Beauty Care, Apparel, Accessories, Home Products, Health Supplements, Food And Beverage, Other Products
2) By Device Type: Laptops And PCs, Mobiles, Other Devices
3) By Bussiness Model: B2C, B2B, C2C
4) By End User: Individual, Commercial
Big data technology is a key trend gaining popularity in the social commerce market. Big data is used as a software tool for processing, analyzing, and extracting large data. Big data technology in social commerce helps e-commerce companies in improving decision-making and enhancing their performance in operational processes. Big data resources are becoming more accessible to people and this also helps to detect fraudulent behavior in businesses. For example, in 2020, Amazon, a social commerce company based in the United States is using big data technology to transform operational processes and to monitor shipping details and personal information of the customers.
The social commerce market report table of contents includes:
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
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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
Top Major Players:
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