The global Shopping Application Market size is expected to reach USD 2.17 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 14.0% from 2022 to 2028. The market growth is attributed to the growing demand for hassle-free online grocery shopping across the globe. Real-time translation in multiple languages across the globe is bolstering the market growth.
The digital era had emerged across emerging economies
such as China and India, which, in turn, is propelling the market growth.
Moreover, a surge in the adoption of digital wallets in North America is
propelling the market growth. FirstSiteGuide had reported that 61% of U.S.
consumers buy their products online through several shopping apps.
Key players are focusing to provide a wide variety of
app choices with certified user ratings to judge the product. The key players
are offering a quick order recorder with an advanced user interface. Multiple
companies are providing monthly shopping reminders to provide updated product
catalogs. The evolution of AI-based features in shopping apps will boost the
market growth.
The Apple iOS store marketplace segment will register
the highest growth rate over the forecast period. This can be credited to the
growing demand for secured operating systems from the consumers in the U.S. and
the U.K. Faster access and lucrative user interference features are refueling
the market growth. Cloud storage, automatic shopping app updates, and an
access-pass to expert validated advice for shopping apps are expected to promote
the market growth during the forecast period.
Asia Pacific held the largest revenue share of over
45.0% share in 2021 due to the rising demand for personal care products from
consumers in China and India. The growing trend in China to adopt augmented
reality-based shopping platforms is propelling the market growth. Product
comparison features and multiple payment options will drive the market in
India.
Related Press Release@ Shopping Application Market Report
Shopping Application Market
Report Highlights
- Asia Pacific captured the largest revenue share of over 45.0% in
2021. This can be credited to the growing investment in the 3D product
visualizations based shopping apps from the key players of China and India
- The Google play store marketplace segment held the largest revenue
share of over 55.0% in 2021. This can be credited to the rising demand for
the certified authentic products from the consumers in the U.K. and the
U.S. At present, several shopping apps available on the play store are
providing certified products
- The Apple iOS Store marketplace segment is projected to register
the highest CAGR of 15.3% from 2022 to 2028. This can be attributed to the
growing demand for multi-device enabled shopping services from consumers
in developed economies such as the U.S. and France
- Central and South America is projected to register the fastest CAGR
of 17.7% from 2022 to 2028. Soaring demand for personalized shopping app
in Brazil is estimated to escalate the market growth over the forecast
period
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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