With the emergence and long-term Impact of COVID-19, the Global Video Commerce Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Video Commerce Market is poised to raise up to USD XX Billion by 2030. Video Commerce refers to the use of video content and technology to drive and facilitate commercial activities, including marketing, sales, and customer engagement. It combines the power of video with e-commerce, allowing businesses, brands, and influencers to showcase products, provide demonstrations, and create interactive shopping experiences for consumers. The major driving factors for the Global Video Commerce Market are the growing popularity of video content and influencer marketing and social proof. Moreover, the rise of live streaming and advancements in technology are creating lucrative growth opportunities for the market over the forecast period 2023-2030.
Platforms such as Twitch, YouTube Live, Facebook Live, and Instagram Live have experienced significant growth in user engagement and viewership since 2020. Many individuals and businesses have started using these platforms to connect with their audiences in real time, whether it’s for gaming, entertainment, educational content, or live events. according to Statista, worldwide spending on digital advertising is rising and growing at an increasing rate, USD 521.02 billion were spent on digital advertising globally in 2021. According to the source, spending would amount to 876 billion dollars by 2026. However, the high cost of Video Commerce stifles market growth throughout the forecast period of 2023-2030.
Geographically, the global Video Commerce Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is a significant market for Video Commerce, driven by the presence of major e-commerce players, social media platforms, and streaming services. The United States and Canada have a large consumer base and strong digital infrastructure, fostering the growth of Video Commerce.
The region has seen a rise in influencer-driven sales and live shopping events, with brands leveraging social media platforms for video-based marketing and sales. Asia Pacific is a rapidly growing market for Video Commerce, fueled by increasing internet penetration, smartphone adoption, and rising e-commerce activities. Countries such as China, Japan, South Korea, and India are key players in the region. Video Commerce in Asia Pacific is driven by live streaming platforms, social commerce, and the influence of key opinion leaders (KOLs) and influencers on consumer purchasing decisions.
The global Video Commerce Market is highly competitive owing to the presence of several key manufacturers such as Shopify Inc., Amazon.com, Inc. (Amazon Live), Alphabet Inc. (Youtube), Wayfair Inc., Bambuser, Channelize.io, and others.
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Key findings of the study suggest:
- Global Video Commerce Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the End-user segment, retail and e-commerce emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the growing presence of major e-commerce players.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Platform:
- Social Media Platforms
- E-commerce Platforms
- Video Streaming Platforms
- Live Streaming Platforms
By End-User:
- Retail and E-commerce
- Fashion and Beauty
- Electronics and Gadgets
- Home and Furniture
- Food and Beverage
- Travel and Hospitality
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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