Super Apps Market is Assessed to Trail at a CAGR of 27.5% from 2023 to 2033 | Future Market Insights, Inc.

The global super apps market is predicted to register a CAGR of 27.5% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 78.16 billion in 2023 to US$ 887.30 billion by 2033 end.

Factors such as the robust development of mobile networks, availability of low-cost smartphones, and affordable data plans are favoring the market growth of super apps. People are also increasingly accessing the internet via mobile phones.  

The limited storage capacity of low-end mobile phones is also shifting users toward the adoption of super apps. This can be attributed to the easy-to-use and effective integration of several services in the super apps.  

Significant percentage of the population is still unbanked, which means they have no access to a bank account. Super apps are usually outfitted with online payment and e-wallet features, merging offline and online services. As a result, the financial convenience offered by super apps, leading to easy online spending, is expected to generate several users in the coming years.  

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Over the forecast period, the demand for digital services in channels like travel, food delivery, and payment is expected to increase. Several potential opportunities for businesses to unite users’ pain points and needs, expand their operations, and integrate services, are expected to propel the super apps industry. 

Top Highlights from the FMI’s Analysis of the Super Apps Market:   

  • China is expected to acquire a significant market share over the projected period. The continuous dominance of China over other markets is grounded in a large number of netizens, and the booming e-commerce sector in the country.
  • The Android sector is projected to acquire a large pie of the market in the coming years. Several benefits of Android over iOS, along with its affordability factor, are expected to govern the segment growth.
  • The smartphone sector obtained 75.6% in 2022. Increasing usage of smartphones for communication purposes, and growing demand for connectivity, are a couple of factors driving the segment expansion.
  • Social media and messaging sector is forecasted to account for 27.3% of the overall market share. Since users employ smartphones chiefly for communication, social media, and gaming, this segment is projected to witness healthy growth.
  • Growing demand for financial services like investment, insurance, digital payments, and wallets, is expected to boost the financial services segment. The segment is predicted to expand at 29.6% over the forecast period.
  • The consumer section is expected to depict a CAGR of 28.5% during the projected period. Increasing demand for value-added services and transaction services is enlarging the consumer base for super apps. 

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FMI Captures Key Developments by Market Players: 

  • In December 2021, Grab revealed that it is foraying into online payments and food delivery channels. With the secured financing of worth US$ 1.46 billion, the company is set to witness robust growth as a super app. 
  • In January 2022, PayPal, which is a fintech super app firm, declared its acquisition of Paidy, a Japanese BNPL company for US$ 2.7 billion. With this acquisition, the company established its foothold in the country.

Super Apps Market by Category

By Platform, the Super Apps Industry is Segmented as:

  • Super Apps for iOS
  • Super Apps for Android
  • Super Apps for Other Platforms

By Device, the Super Apps Industry is Categorized as:

  • Super Apps on Smartphone
  • Super Apps on Tablets
  • Super Apps on Other Devices

By Application, the Super Apps Market is Segregated as:

  • Super Apps for Financial Services
  • Super Apps for Transportation & Logistics Services
  • Super Apps for E-commerce
  • Super Apps for Social Media & Messaging
  • Super Apps for Other Applications

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By End User, the Super Apps Industry is Bifurcated as:

  • Super Apps for Businesses
  • Super Apps for Consumers

By Region, the Industry of Super Apps is Segmented as:

  • Super Apps in North America Market
  • Super Apps in Europe Market
  • Super Apps in Asia Pacific Market
  • Super Apps in Latin America Market
  • Super Apps in the Middle East and Africa Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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