According to a new report Global Social Commerce Market, published by KBV research, The Global Social Commerce Market size is expected to reach $1948.5 billion by 2026, rising at a market growth of 29.4% CAGR during the forecast period.
B2B segment led the market growth and held a significant market share in 2019. The social commerce website is used by other companies and businesses as a platform to sell and promote their products or services to another company. For instance, TripAdvisor assists its hotel partners even through their Twitter account. B2B businesses are focusing on niche markets, for instance, selling dog food to a pet store, and it also helps them to fulfill the particular needs of clients. Increasing digitization across numerous industries and shifting business trends towards social media platforms is likely to boost the social commerce market growth.
The Apparel market dominated the Global Social Commerce Market by Product Type in 2019. The personal and beauty care segment is likely to show a promising CAGR in the coming years. Users nowadays are preferring to buy these products online to avoid touching the products and close contact with people, and they can easily compare the products before they buy them.
The Asia Pacific dominated the market and held the largest market revenue share in 2019. Some of the factors that are driving regional market growth include increasing investments in the telecommunication infrastructure, and rising demand for smartphones. The widespread reach of social media websites like Twitter, Facebook, and Instagram is another factor leading to market growth in this region. The increasing number of smartphones resulted in more social media users in countries like China and India are mainly favoring the market growth in the Asia Pacific. Additionally, The North America market would showcase a CAGR of 29% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/social-commerce-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Facebook, Inc., PayPal Holdings, Inc. (eBay), Twitter, Inc., Microsoft Corporation (LinkedIn Corporation), Alibaba Group Holdings Limited (Taobao), Sina Corporation, Pinterest, Inc., Etsy, Inc., Reddit, Inc. (Advance Publications, Inc.), and Poshmark, Inc.
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By Product Type
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