Super Apps Market Size, Share | Industry Forecast 2023-28

IMARC Group, a leading market research company, has recently releases report titled “Super Apps Market Report by Device, Platform, Application, End User, and Region 2023-2028” The study provides a detailed analysis of the industry, including the global super apps market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the super apps market?

The global super apps market size reached US$ 60.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 267.4 Billion by 2028, exhibiting a growth rate (CAGR) of 28.2% during 2023-2028

What are super apps?

A Super App is a comprehensive mobile application that integrates several services and functionalities into a single platform, offering users a one-stop solution for various needs. They go beyond the traditional scope of a single-purpose app by incorporating services such as messaging, social networking, e-commerce, financial transactions, ride-hailing, and food delivery. They aim to enhance user convenience and engagement by providing a seamless and interconnected experience. Additionally, they offer several benefits to users, from simplified access to various services to minimizing the need for multiple app downloads and logins by offering numerous services within a single app, saving users time and effort.

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What are the growth prospects and trends in the super apps industry?

The super apps market is primarily driven by changing consumer behavior. In addition, the rise of super apps due to the increasing penetration of smartphones is influencing the market growth. Also, the growing population is resulting in increasing smartphone users, thus escalating the demand for super apps that cater to the various needs of users, from urban centers to rural areas, offering localized services and bridging gaps in access to essential services. Moreover, the widespread adoption of super apps and the increasing use of digital payment systems enable users to make transactions, pay bills, and conduct financial activities without leaving the platform, representing another major growth-inducing factor. Along with this, the shift toward cashless transactions contributes to the growing adoption of super apps, especially in regions where traditional banking services are less accessible, thus propelling market growth. Furthermore, it allows individuals to access numerous services, such as messaging, social networking, e-commerce, ride-hailing, food delivery, and financial transactions, streamlining the user experience, eliminating the need to switch between various apps and enhancing efficiency, thus creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Device:

• Smartphone
• Tablets
• Others

Breakup by Platform:

• iOS
• Android

Breakup by Application:

• BFSI
• Transportation and Logistics
• Retail and E-commerce
• Social Media and Messaging
• Others

Breakup by End User:

• Business
• Consumer

Breakup by Region:

• North America (U.S. Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Alipay (Alibaba Group Holding Limited)
• Gojek tech (GoTo)
• Grab
• Kakao Corp.
• LINE Corporation (Z Holdings Corporation)
• Paytm (One97 Communications Ltd)
• PhonePe (Walmart Inc.)
• Rappi Inc.
• Revolut Ltd.
• Tata Sons Private Limited
• WeChat (Tencent Holdings Ltd.)

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