Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Super Apps Market size is expected to reach $240.7 billion by 2028, rising at a market growth of 26.0% CAGR during the forecast period.
The Consumers segment is showcasing a CAGR of 26.6% during (2022 - 2028). Super apps gain consumer revenue through value-added service or transaction fees for electronic payments. A growing number of individuals utilizing super applications due to increasing smartphone and internet penetration is projected to present considerable prospects for consumer-based revenue growth.
The Android segment acquired maximum revenue share in the Global Super Apps Market by Platform in 2021 thereby, achieving a market value of $145.7 billion by 2028. This is because Android phones are less expensive. In these nations, people with lower disposable incomes can access alternatives less expensive than iPhones manufactured by Apple Inc. In addition, Android is an open-source operating system that provides customization choices. iOS is developed solely for Apple Inc.'s iPhones and iPads, whereas Android is built for all smartphone manufacturers except Apple.
The Tablets segment has shown the growth rate of 26.3% during (2022 - 2028). The ability of super apps to provide a simple and seamless user experience is one of their key advantages. Users may access all the required services within a single platform, saving them from navigating between many apps to do various tasks. As a result, users can perform their tasks faster and with less effort due to this. This benefit of super apps is driving market growth in this segment..
The Social Media & Messaging segment is leading the Global Super Apps Market by Application in 2021 thereby, achieving a market value of $74 billion by 2028. Social media, communication, and gaming apps are among the most frequently downloaded categories. Moreover, social media apps are where users spend the most time. Thus, super apps generate most of their money from this sector of applications.
The Asia Pacific market dominated the Global Super Apps Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $108.8 billion by 2028. The Europe market is exhibiting a CAGR of 25.3% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 25.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/super-apps-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 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.
Unique Offerings from KBV Research
North America Super Apps Market size & Opportunities 2022-2028
Europe Super Apps Market & Growth Forecast 2022-2028
Asia Pacific Super Apps Market Share & Industry Outlook to 2028
LAMEA Super Apps Market Growth, Trends & Forecasts 2022-2028