SAN FRANCISCO,Sept. 2, 2021/PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled"Social Commerce - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

World Social Commerce Market

FACTS AT A GLANCE

Edition:9;Released:August 2021

Executive Pool:1772

Companies:123 - Players covered include Alibaba (China) Co., Ltd.; Etsy, Inc.; Fab.com; Facebook, Inc.; iQIYI; LinkedIn Corporation; PayPal; Pinterest; Reddit, Inc.; Renren, Inc.;Tencent- Qzone;TencentHoldings Ltd.; Tumblr, Inc.; Twitter, Inc.; Weibo Corporation; Yahoo!, Inc. and Others.

Coverage:All major geographies and key segments

Segments:Business Model (B2C, B2B, C2C); Product Type (Apparel, Personal & Beauty Care, Accessories, Home Products, Health Supplements, Food & Beverage, Other Product Types)

Geographies:World;United States;Canada;Japan;China;Europe(France;Germany;Italy;United Kingdom; and Rest ofEurope);Asia-Pacific; Rest of World.

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ABSTRACT-

Global Social Commerce Market to ReachUS$2.9 Trillionby the Year 2026

Social commerce refers to e-commerce companies using social media platforms, including Facebook, Pinterest and Instagram, as a means to market and sell their products and services online. The use of social media in marketing is growing, driven by the enormous potential social media platforms have in digitally promoting, marketing and selling products online and providing companies access to a large audience that they otherwise would not have been able to reach with other means. After over a decade and half after its emergence, social commerce is rampant on social media sites that with their inspirational and entertaining content make a product profitable. The fast changing consumer mobile usage habits continue to foster growth in the electronic commerce, mobile commerce and social commerce markets. Enormous growth in adoption of 4G enabled smartphones, expanding deployment of 4G networks, and subsequent rise in number of people accessing online multimedia content over mobile handsets are also boosting market prospects for online shopping and social commerce. Spiraling global sales of smartphones coupled with widespread consumer acceptance of Mobile value added services (M-VAS), such as, Mobile Internet browsing, mobile games, mobile social networking, mobile music, mobile payments, mobile wallet, mobile learning, and mobile Location-Based-Services (LBS), bode well for social commerce. Social commerce is advancing with the addition of advanced technologies (for instance Augmented Reality) that allows shoppers to visualize themselves wearing the clothing items they wish to purchase and also solicit feedback using social media tools. The rise of e-commerce catalyzed by the pandemic is expected to boost market prospects in the coming years.

Amid the COVID-19 crisis, the global market for Social Commerce estimated atUS$559.7 Billionin the year 2020, is projected to reach a revised size ofUS$2.9 Trillionby 2026, growing at a CAGR of 30.8% over the analysis period. B2C, one of the segments analyzed in the report, is projected to grow at a 31.9% CAGR to reachUS$2.2 Trillionby the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the B2B segment is readjusted to a revised 29.6% CAGR for the next 7-year period. This segment currently accounts for a 32.6% share of the global Social Commerce market.

The U.S. Market is Estimated at$51.2 Billionin 2021, While China is Forecast to Reach$1.5 Trillionby 2026

The Social Commerce market in the U.S. is estimated atUS$51.2 Billionin the year 2021. The country currently accounts for a 6.9% share in the global market.China, the world's second largest economy, is forecast to reach an estimated market size ofUS$1.5 Trillionin the year 2026 trailing a CAGR of 34% through the analysis period. Among the other noteworthy geographic markets areJapanandCanada, each forecast to grow at 23.2% and 24.6% respectively over the analysis period. WithinEurope,Germanyis forecast to grow at approximately 25.4% CAGR while Rest of European market (as defined in the study) will reachUS$1.9 Trillionby the end of the analysis period. E-commerce market witnessed a huge increase in First Time Users (FTUs) in several parts ofAsia,Latin Americaand theMiddle East&Africa, and also inNorth AmericaandEuropeas many people embraced the concept of online retail in place of traditional shopping. As social distancing norms remained relevant for almost the entirety of 2020, the online retail stores experienced a huge surge during the year. Widespread roll out of 4G LTE networks, increased penetration of smartphones, and robust promotion of e-commerce on social media platforms have been instrumental in promoting growth in these regions.

C2C Segment to Reach$280.3 Billionby 2026

In the global C2C segment,USA,Canada,Japan,ChinaandEuropewill drive the 24.4% CAGR estimated for this segment. These regional markets accounting for a combined market size ofUS$46.3 Billionin the year 2020 will reach a projected size ofUS$257.5 Billionby the close of the analysis period.Chinawill remain among the fastest growing in this cluster of regional markets. Led by countries such asAustralia,India, andSouth Korea, the market inAsia-Pacificis forecast to reachUS$34.3 Billionby the year 2026, whileLatin Americawill expand at a 28% CAGR through the analysis period.More

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