Live Commerce Platforms Global Market Report 2024

The live commerce platforms market size has grown exponentially in recent years. It will grow from $1.02 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth observed during the historic period can be attributed to several factors, including the rise of e-commerce, advancements in live streaming technology, the growth of influencer marketing strategies, increased usage of mobile internet, and the expansion of social media platforms. These factors collectively contributed to the development and popularity of live commerce platforms, facilitating interactive online shopping experiences and driving consumer engagement and sales.

The live commerce platforms market size is expected to see rapid growth in the next few years. It will grow to $2.88 billion in 2028 at a compound annual growth rate (CAGR) of 23%. The forecasted growth is expected to be driven by several factors, including the integration of augmented reality (AR) and virtual reality (VR) technologies, the adoption of artificial intelligence (AI) for personalized shopping experiences, the expansion of 5G networks enabling faster and more reliable connections, the emergence of blockchain for secure transactions, and the industry's shift towards sustainable and eco-friendly practices. Major trends anticipated during this period include the rise of hybrid online-offline shopping experiences, the emergence of niche influencer-led marketplaces catering to specific consumer segments, the growth of live auction and bidding formats for real-time engagement, the increasing prominence of social commerce and shoppable content on social media platforms, and the development of interactive and gamified shopping experiences aimed at enhancing customer engagement and satisfaction.

The burgeoning internet penetration is poised to drive the expansion of the live commerce platform market in the foreseeable future. The Internet, a worldwide network of interconnected computers facilitating information exchange, is coveted for its instantaneous access to extensive resources, communication channels, and service provisions. The proliferation of smartphones and other internet-enabled mobile devices has notably bolstered internet penetration rates, empowering live commerce platforms to seamlessly connect merchants with a global audience, fostering real-time engagement and transactions. For example, a September 2023 report by the International Telecommunication Union (ITU), a specialized agency of the United Nations based in Switzerland, revealed a significant uptick in global internet users, reaching 5.4 billion in 2023 compared to 5.1 billion users (64%) in 2022. Consequently, the escalating internet penetration serves as a catalyst for the burgeoning growth of the live commerce platform market.

Prominent players within the live commerce platform market are directing their focus towards the development of innovative solutions, exemplified by products such as AnyX, aimed at bolstering their financial performance within the industry. AnyX represents a comprehensive e-commerce management platform that seamlessly integrates various functionalities across multiple platforms. Notably, in April 2022, AnyMind Group, a leading technology firm headquartered in Singapore specializing in business supply chain solutions, unveiled AnyX. This platform seamlessly integrates with an array of ancillary services provided by AnyMind Group, including AnyFactory for production management, AnyManager for data analytics and revenue optimization, AnyChat for chat-based commerce interactions, AnyTag for influencer engagement and social media analytics, AnyDigital for online marketing initiatives, and AnyLogi for logistics oversight. Moreover, AnyX is engineered to automate diverse operational tasks across its integrated platforms, streamlining processes such as order fulfillment, inventory management, pricing strategies, and revenue optimization.

In February 2023, Emplifi, a leading customer engagement platform headquartered in the United States, completed the acquisition of Go Instore for an undisclosed sum. This strategic move by Emplifi is geared towards strengthening its position as a leader in customer experience solutions. By integrating Go Instore's video-powered retail platform, Emplifi aims to offer a more comprehensive suite of services, seamlessly integrating social marketing, e-commerce, and omnichannel support. Emplifi also seeks to pioneer live commerce through its ShopStream feature, enhancing interactive customer engagement across various channels. Go Instore, based in the United Kingdom, brings valuable expertise and technology to enhance Emplifi's offerings in the rapidly evolving customer engagement landscape.

Major companies operating in the live commerce platforms market report are Amazon.com Inc., JD.com Inc., Meta PlatformsInc., Tencent Holdings Limited, Pinduoduo Inc., Rakuten GroupInc., Kuaishou TechnologyInc., Suning Appliance Group Co.Ltd., ByteDance Ltd., Klarna Bank AB (publ), Weibo Corporation, Mercari Inc., Taobao, Hopin Limited, Zappos.com LLC, CommentSold, StreamYardInc., Shopmatic Pvt. Ltd., RestreamInc., GhostRetailInc., CrowdcastInc., StreamlabsInc., TalkShopLiveInc., Livescale Solutions GmbH, Giosg.com Ltd.

North America was the largest region in the live commerce platforms market in 2023. The regions covered in the live commerce platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the live commerce platforms market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Live commerce platforms integrate live video streaming with real-time purchasing capabilities, enabling interactive online shopping experiences. Viewers can watch live demonstrations, interact with hosts or sellers through comments, and make purchases directly during the broadcast. This approach enhances customer engagement, facilitates immediate feedback and query resolution, and drives sales by leveraging the immediacy and interactivity of live streaming.

The primary types of live commerce platforms include e-commerce self-built platforms, content community platforms, and traditional social platforms. E-commerce self-built platforms enable businesses or individuals to create and manage their own online storefronts, selling products or services directly to consumers. These platforms support various e-commerce models such as business-to-business (B2B) and business-to-customer (B2C), and cater to diverse business categories including apparel, cosmetics, consumer electronics, furniture, entertainment, and more.

The live commerce platforms market research report is one of a series of new reports that provides live commerce platforms market statistics, including live commerce platforms industry global market size, regional shares, competitors with a live commerce platforms market share, detailed live commerce platforms market segments, market trends, and opportunities, and any further data you may need to thrive in the live commerce platforms industry. This live commerce platform market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The live commerce platform market consists of revenues earned by entities by providing services such as live streaming, real-time interaction, instant purchasing, analytics and insights, and multi-platform integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The live commerce platform market also includes sales of live streaming software, real-time interaction tools, and e-commerce integration platforms that are used in providing services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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