Live Commerce Platforms Market Exhibiting At A CAGR Of 21.2% From 2024 To 2030Posted by Neha Bora on March 7th, 2024 San Francisco, 7 March 2024: The Report Live Commerce Platforms Market Size, Share & Trends Analysis Report By Category (Apparel & Fashion, Cosmetics & Personal Care, Consumer Electronics, Furnishing), By Region (Asia Pacific, North America), And Segment Forecasts, 2024 - 2030 The global live commerce platforms market size is anticipated to reach USD 3.48 billion by 2030, registering a CAGR of 21.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors, such as increasing demand for online shopping and more engaging & interactive shopping experiences is expected to drive market growth. An exponential rise in smartphone users and high-speed internet availability also contribute to market growth. In addition, the availability of first-party data for e-commerce companies to provide personalized shopping experiences and increasing engagement of the Gen Z population with live commerce platforms support industry growth. Live commerce platforms significantly contribute to the expansion of e-commerce. Platforms, such as Alibaba's Taobao Live and Amazon, have shown an increase in consumer engagement due to live-stream commerce. For instance, in 2020, Alibaba's Taobao launched an application, a platform that integrates product showcasing with the ability to purchase in real-time. Incorporating augmented reality/virtual reality (AR/VR), artificial intelligence (AI), and 3D technology presents opportunities for enhancing live stream experience. Implementing AR/VR for virtual try-ons, AI-enabled personalized recommendations, and innovative interactive features can improve user engagement with the help of virtual try-ons, product visualization, interactive product demos, and in-store navigation tools. In addition, safe online transactions are crucial for live commerce; thus, a highly reliable payment system is needed to support transactions during peak processing times. A research paper published in June 2023 by KTH Royal Institute of Technology of Sweden reveals that Google's ARCore data shows a 40% adoption rate for mobile AR within the total AR mobile market. Access Research Report of Live Commerce Platforms Market @ https://www.grandviewresearch.com/industry-analysis/live-commerce-platforms-market-report Live Commerce Platforms Market Report Highlights
Live Commerce Platforms Market Report Scope
List of Key Players in Live Commerce Platforms Market
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