Social Commerce Market to Reach $6,059.6 Billion by 2031

Social Commerce Market Size, Share, Forecast, & Trends Analysis by Business Model (B2B, B2C, C2C), Platform Type (Social Media, E-commerce), Sales Channel (Video Commerce, Influencer Marketing, Others), Product and Geography—Global Forecast to 2031

According to this latest publication from Meticulous Research®, the social commerce market is expected to reach $6,059.6 billion by 2031, at a CAGR of 28.6% from 2024 to 2031. The growth of the social commerce market is driven by the increased use of social media platforms, widespread adoption of mobile devices, and rising digitization. However, this growth is hindered by a lack of technology adoption in developing countries. Additionally, the rising use of AI and chatbots to enhance sales and customer service, growing partnerships between brands and social media influencers to reach target audiences, and increasing internet penetration in developing countries present significant opportunities for market players. The market faces significant challenges, including online fraud and data privacy concerns, and escalating competition.