Categories: Healthcare

Live Commerce Platforms Market Key Drivers, Trends, Growth, Outlook 2024-2033

Overview and Scope

Live commerce platforms are digital channels that combine live video streaming with the ability to purchase products in real-time. They are used for interactive online shopping experiences, where viewers can watch live demonstrations, interact with hosts or sellers through comments, and purchase directly during the broadcast. This approach enhances customer engagement, provides immediate feedback and query resolution, and boosts sales by leveraging the immediacy and interactivity of live streaming.

Sizing and Forecast

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 in the historic period can be attributed to rise of e-commerce, advancements in live streaming technology, growth of influencer marketing, increase in mobile internet usage, and expansion of social media platforms.

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Segmentation & Regional Insights

The live commerce platforms market covered in this report is segmented –

1) By Type: E-Commerce Self-Built Platform, Content Community Platform, Traditional Social Platform

2) By E-Commerce Model: Business To Business (B2B), Business To Customer (B2C)

3) By Category: Apparel And Fashion, Cosmetics And Personal Care, Consumer Electronics, Furnishing, Entertainment, Other Categories

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.

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Major Driver Impacting Market Growth

The increasing internet penetration is expected to propel the growth of the live commerce platform market going forward. The Internet is a global network of computers enabling users to access and exchange information, and its demand stems from its ability to provide instant access to vast resources, communication, and services. The widespread adoption of smartphones and other mobile devices with internet connectivity capabilities has significantly increased internet penetration, enabling live commerce platforms to connect sellers with a global audience instantly and facilitating real-time interaction and transactions. For instance, in September 2023, according to a report published by the International Telecommunication Union (ITU), a Switzerland-based United Nations specialized agency, the number of internet users worldwide rose to 5.4 billion in 2023, up from 5.1 billion users (64%) in 2022. Therefore, the increasing internet penetration is driving the growth of the live commerce platform market.

Key Industry Players

Major companies operating in the live commerce platforms market are Amazon.com Inc., JD.com Inc., Meta Platforms Inc., Tencent Holdings Limited, Pinduoduo Inc., Rakuten Group Inc., Kuaishou Technology Inc., Suning Appliance Group Co. Ltd., ByteDance Ltd., Klarna Bank AB (publ), Weibo Corporation, Mercari Inc., Taobao, Hopin Limited, Zappos.com LLC, CommentSold, StreamYard Inc., Shopmatic Pvt. Ltd., Restream Inc., GhostRetail Inc., Crowdcast Inc., Streamlabs Inc., TalkShopLive Inc., Livescale Solutions GmbH, Giosg.com Ltd.

The live commerce platforms market report table of contents includes: