Growing internet & smartphone penetration and rising e-commerce & digital payment adoption are some of the factors fueling the growth.

PORTLAND, PORTLAND, OR, UNITED STATE, January 24, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Super Apps Market Reach to USD 722.4 Billion by 2032 | Top Players such as – Genexus, Elluminati & Alibaba Cloud.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global super apps market size was valued at USD 58.6 billion in 2022, and is projected to reach USD 722.4 billion by 2032, growing at a CAGR of 28.9% from 2023 to 2032.

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The global super apps market is driven by factors such as growing adoption of mobile services, increasing advancements in digital technologies, and rise in government support for promoting the use of super apps. However, data security, privacy concerns, and the high cost of super apps limit the growth of this market. Conversely, a rise in the integration of blockchain technology in super apps is anticipated to provide numerous opportunities for the expansion of the market during the super apps market forecast period.

The global super apps market is segmented into platform, device, application, end-user and regions. Depending on the platform, the market is divided into iOS, Android, and others. Based on device, it is categorized into smartphone, tablets, and others. By application, it is divided into BFSI, transportation and logistics, retail and e-commerce, social media messaging, and others. Based on end-users, it is bifurcated into business and consumers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on device, the smartphone segment held the highest market share in 2022, accounting for nearly half of the global super apps market, and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing number of smartphone users. However, the others segment is projected to manifest the highest CAGR of 30.2% from 2023 to 2032, as it offers additional services such as document creation, file sharing, and project management tools.

Based on application, the social media and messaging segment held the highest market share in 2022, accounting for nearly one-third of the global super apps market, and is estimated to maintain its leadership status throughout the forecast period, owing to the growing type of integration that can improve communication and increase user engagement. However, the BFSI segment is projected to manifest the highest CAGR of 31.6% from 2023 to 2032, owing to the rapidly growing in popularity.

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Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global super apps market, and is likely to dominate the market during the forecast period, owing to the high rate of smartphone ownership in the Asia-Pacific region. However, the LAMEA region is expected to witness the fastest CAGR of 31.0% from 2023 to 2032, owing to rise in number of mobile services, along with incorporation of IoT and other emerging technologies in apps.

The global super app market is dominated by key players such as Alibaba Cloud, Cisco Systems Inc., Genexus, Qualcomm Technologies, IBM Corporation, Huawei Technologies, Agiletech Vietnam, Elluminati Inc., Line Corporation and Go To. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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Covid-19 Scenario

● The outbreak of the Covid-19 pandemic had a positive impact on the global super apps market, owing to social distancing norms during the lockdown.

● With an aim to reduce the risk of transmission of the virus, many super apps providers had started promoting contactless payment options such as mobile wallets, QR code payments, and digital payments, which in turn, boosted the growth of the market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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