LONDON–(BUSINESS WIRE)–Feb 3, 2021–
The global social commerce market has the potential to grow by USD 2,051.49 billion during 2020-2024, according to the latest market research report by Technavio. The report highlights key products offered by the top five vendors and their contribution to the overall growth of the market. Download a Free Sample Report Instantly for a More Detailed Analysis
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Technavio has announced its latest market research report titled Social Commerce Market by Device and Geography – Forecast and Analysis 2020-2024 (Graphic: Business Wire)
The rising use of social media advertising will be crucial in driving the growth of the global social commerce market during the forecast period. The growth of social media has enabled e-commerce advertisers to attract more customers through display banner ads and sponsored content. This increases traffic to the company’s website as well as the customer base. This coupled with the rising number of internet users will provide significant opportunities for market vendors over the forecast period.
“Technological advancements in social media has been a prominent factor in boosting the market growth. Also, the personalized shopping experience and diverse product portfolios offered by social commerce platforms will positively impact the market as well as the specialized consumer services industry in the forthcoming years”, says an analyst at Technavio.
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Social Commerce Market: Competitive Vendor Landscape
The market is fragmented due to the presence of many players. Alibaba Group Holding Ltd., Etsy Inc., Facebook Inc., LinkedIn Corp., and PayPal Holdings Inc. are some of the major market participants. To help clients improve their market position, this social commerce market report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies.
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Top Five Vendors in the Global Social Commerce Market:
Alibaba Group Holding Ltd.
Alibaba Group Holding Ltd. operates its business through segments such as Core commerce, Cloud computing, Digital media and entertainment, and Innovation initiatives and others. The company offers a range of platforms for social commerce.
Etsy Inc. operates its business through the Unified segment. The company offers social commerce through Zantlers social commerce platform.
Facebook Inc. operates its business through the Unified segment. The company offers social commerce through Facebook Marketplace.
LinkedIn Corp. operates its business through segments such as Hire, Market, Sell, and Learn. The company offers social commerce through its professional network.
PayPal Holdings Inc.
PayPal Holdings Inc. operates its business through the Unified segment. The company offers platforms for social commerce.
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To learn more about the global trends impacting the future of market research, Download a Free Sample Report
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20210203005535/en/
CONTACT: Technavio Research
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INDUSTRY KEYWORD: SOCIAL MEDIA COMMUNICATIONS
SOURCE: Technavio Research
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PUB: 02/03/2021 03:00 PM/DISC: 02/03/2021 03:00 PM
LONDON–(BUSINESS WIRE)–Feb 3, 2021–