Market Size of E-commerce App Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 9.60 % |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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E-commerce App Market Analysis
The E-commerce App Market is expected to grow at a CAGR of 9.6% for the next five years. Over the previous two years, e-commerce app usage and downloads have increased, particularly during the coronavirus outbreak. The market is mainly fueled by the rising popularity of online shopping, particularly among women, and the expanding impact of social networking sites on purchasing decisions.
- A boost to the market's expansion is also being given by rising internet usage and the use of gadgets like smartphones and tablets to access e-commerce apps. The rapid growth of the e-commerce sector is attributed to the prevalence of mobile devices and their continuous hegemony over desktop computers.
- The demand for desktop applications has quickly surpassed that for mobile apps, which now rule the digital economy. More than 5 million apps were available between the Google Play Store and the Apple App Store as of 2021. Adopting mobile apps has become essential to digital lifestyles all around the world, particularly when it comes to social networking.
- The main challenge of e-commerce apps is maintaining a consistent sense of security for customers. These apps must provide secure online transactions while safeguarding users' private information. Any successful attempt to access a customer's data can severely damage an e-commerce company's brand and clientele. It is crucial to concentrate on app security, given the rising incidence of cybercrimes and the rising risk of malware activities.
- Using mobile devices, consumers can connect with brands around-the-clock. These portable electronics have enhanced how customers connect with brands, find information, and shop. Online shopping apps on mobile devices are becoming more and more popular. Therefore, businesses must incorporate such tools into their marketing strategies. This will help to improve the way the brand interacts with customers.
- During the pandemic, everything from groceries to luxuries had to be purchased online, during which time the download and use of e-commerce apps escalated. The major players-Amazon, Walmart, Alibaba, and others-have been growing quickly during the past three years.
