The Latin America, Middle East and Africa Super Apps Market would witness market growth of 29.8% CAGR during the forecast period (2022-2028).
Businesses can use super apps to provide services to a broader range of customers. More likely, a potential user will discover various services in a super app than in a niche-specific app. With the aid of super apps, it is simple to boost user session duration and client retention. This is because these applications offer more touchpoints for successful client connection and maintaining their engagement. Businesses can easily boost the variety of services they offer and attract more customers with minimal customer acquisition expenses.
When a company develops a complete suite of products & services under one umbrella and offers them in a single app, it enhances its brand recognition and credibility. When constructing a Super App, a business invests in future growth and greatly reduces costs. Branding a specific service and integrating it into an existing solution is much simpler than developing multiple apps and branding them under a single umbrella.
The UAE leads the Gulf Cooperation Council (GCC) in eCommerce sales, with a record $3.9 billion in sales in 2020, accounting for 10% of all retail sales. The market in the UAE grew by 53% in 2020. Cross-border eCommerce is growing popular among Middle Eastern online customers. Due to their confidence in gateway security, internet buyers in the UAE made 58% of their transactions from foreign merchants. The sale of cosmetics and personal care items has increased dramatically in the Middle East and North Africa (MENA). One of the markets for cosmetics and personal care products that have grown the quickest over the past six years is the MENA region. These creates more growth prospects for regional market participants.
The Brazil market dominated the LAMEA Super Apps Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,658.8 Million by 2028. The Argentina market is experiencing a CAGR of 30.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 29.5% during (2022 - 2028).
Based on End-user, the market is segmented into Businesses and Consumers. Based on Platform, the market is segmented into Android, iOS and Others. Based on Device, the market is segmented into Smartphone, Tablets and Others. Based on Application, the market is segmented into Social Media & Messaging, Financial Services, E-commerce, Transportation & Logistics Services and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Super Apps Market is Projected to reach USD 240.7 Billion by 2028, at a CAGR of 26%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PhonePe Private Limited (Flipkart Private Limited) (Walmart, Inc.), One97 Communications Limited (Paytm Payments Services Limited), Kakao Corp., Tata Group (Tata Sons Private Limited), Ant Group (Alipay) (Alibaba Holding), Grab Holdings, Inc., LINE Corporation (Z Holdings Corporation) (SoftBank Group Corp.), Revolut Ltd., GoTo (Citrix Systems, Inc.) and Rappi, Inc.
By End-user
By Platform
By Device
By Application
By Country
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