IMARC Group, a leading market research company, has recently releases report titled “Super Apps Market Report by Device, Platform, Application, End User, and Region 2023-2028” The study provides a detailed analysis of the industry, including the global super apps market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the super apps market?
The global super apps market size reached US$ 60.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 267.4 Billion by 2028, exhibiting a growth rate (CAGR) of 28.2% during 2023-2028
What are super apps?
A Super App is a comprehensive mobile application that integrates several services and functionalities into a single platform, offering users a one-stop solution for various needs. They go beyond the traditional scope of a single-purpose app by incorporating services such as messaging, social networking, e-commerce, financial transactions, ride-hailing, and food delivery. They aim to enhance user convenience and engagement by providing a seamless and interconnected experience. Additionally, they offer several benefits to users, from simplified access to various services to minimizing the need for multiple app downloads and logins by offering numerous services within a single app, saving users time and effort.
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What are the growth prospects and trends in the super apps industry?
The super apps market is primarily driven by changes in consumer behavior. Additionally, the increasing availability of smartphones has led to the rise of super apps, influencing market growth. Moreover, the growing population has resulted in a greater number of smartphone users, which has fueled the demand for super apps catering to a wide range of user needs. These apps provide localized services and bridge gaps in access to essential services, whether in urban centers or rural areas. Another key factor contributing to market growth is the widespread adoption of super apps, coupled with the increasing use of digital payment systems. This enables users to make transactions, pay bills, and conduct financial activities without leaving the platform. It represents a significant driver for growth. Furthermore, the trend towards cashless transactions has further fueled the adoption of super apps, particularly in regions where traditional banking services are limited. This shift has propelled market growth. Additionally, super apps allow individuals to access multiple services such as messaging, social networking, e-commerce, ride-hailing, food delivery, and financial transactions, all within a single platform. This streamlines the user experience, eliminates the need to switch between various apps, and enhances efficiency, thus creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Device:
- Smartphone
- Tablets
- Others
Breakup by Platform:
- iOS
- Android
Breakup by Application:
- BFSI
- Transportation and Logistics
- Retail and E-commerce
- Social Media and Messaging
- Others
Breakup by End User:
- Business
- Consumer
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Alipay (Alibaba Group Holding Limited)
- Gojek tech (GoTo)
- Grab
- Kakao Corp.
- LINE Corporation (Z Holdings Corporation)
- Paytm (One97 Communications Ltd)
- PhonePe (Walmart Inc.)
- Rappi Inc.
- Revolut Ltd.
- Tata Sons Private Limited
- WeChat (Tencent Holdings Ltd.)
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