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The Rise of Super Apps: All Your Needs in One Place!

Super Apps are mobile applications that offer a wide range of services and features, providing users with a one-stop shop for all their needs. These apps typically integrate multiple functions such as messaging, e-commerce, ride-hailing, food delivery, mobile payments, and more, into a single platform, allowing users to access a variety of services without leaving the app.

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Super Apps originated in China with the likes of WeChat and Alipay, which have become incredibly popular due to their ability to offer a wide range of services in one place. They have since expanded to other parts of Asia and are now gaining popularity in other regions around the world. A few popular super apps are the Rappi app in Latin America, the Snapp app in Iran, Line in Japan, and Yandex Go in Russia and Kazakhstan. In addition, these super apps are creating a large interest among consumers in the technology world. According to the Pymnts, in July 2022, it was found that nearly 72% of consumers are fascinated by super apps, which precisely estimates that the super app market is expected to grow at a significant rate in the future.

Some of the benefits of Super Apps include convenience, time-saving, and increased efficiency, as users can access multiple services from a single app without having to switch between different apps. Super Apps also offer a more personalized experience, as they can use data from various sources to make tailored recommendations and offers to users.

Allied Market Research published a report, titled, “Super Apps Market: Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global super apps industry generated $58.6 billion in 2022 and is anticipated to generate $722.4 billion by 2032, witnessing a CAGR of 28.9% from 2023 to 2032.

Prime determinants of growth

The global super apps market is driven by factors such as the growing adoption of mobile services, increasing advancements in digital technologies, and a rise in government support for promoting the use of super apps. However, data security, privacy concerns, and the high cost of super apps limit the growth of this market. Conversely, a rise in the integration of blockchain technology in super apps is anticipated to provide numerous opportunities for the expansion of the market during the super apps market forecast period.

Covid-19 Impact

  • The outbreak of the Covid-19 pandemic had a positive impact on the global super apps market, owing to social distancing norms during the lockdown.
  • With an aim to reduce the risk of transmission of the virus, many super app providers had started promoting contactless payment options such as mobile wallets, QR code payments, and digital payments, which in turn, boosted the growth of the market.

super apps

The smartphone segment to maintain its leadership status throughout the forecast period

The smartphone segment dominated the global super apps market in 2022, holding nearly half of the market share, and is expected to continue leading during the forecast period, attributed to the rising number of smartphone users. Meanwhile, the other segment is anticipated to exhibit the highest CAGR of 30.2% from 2023 to 2032, as it provides extra services including document creation, file sharing, and project management tools.

The social media and messaging segment to maintain its leadership status throughout the forecast period

In 2022, the social media and messaging segment dominated the global super apps market, accounting for nearly one-third of the market share, and is expected to continue leading throughout the forecast period. This is due to the increasing types of integration that can enhance communication and user engagement.

The BFSI segment is projected to exhibit the highest CAGR of 31.6% from 2023 to 2032, indicating its rapidly growing popularity.

The business segment to maintain its lead position during the forecast period

In 2022, the business segment dominated the global super apps market, holding almost three-fifths of the market share, and is predicted to maintain its top position in the forecast period due to the increased use of cloud-based solutions. However, the consumer segment is forecasted to exhibit the highest CAGR of 30.1% from 2023 to 2032, attributed to the integration of travel and transportation features, such as booking flights and rideshare services, that enable consumers to manage their travel needs from a single platform.

Supper apps in the Hotel industry

Super apps are becoming increasingly popular in the restaurant and hotel industry, owing to the growing application of online food delivery services In addition, super apps can often be used for food ordering and delivery, allowing users to browse menus, place orders, and pay for the meals directly from the app. Super apps can also integrate with different food delivery platforms, making it easy for users to access multiple food delivery options in one place.

Several private & public firms are working on providing an effective super app solution to benefit the restaurant and hotel industry. For instance, in December 2021, Plaxonic launched the hyperlocal super app namely, Evobee, to revolutionize the local logistics space. The platform enables home delivery of food, grocery, cab bookings, and other appointment services. Therefore, such advanced strategies offer a reliable solution for consumers in the restaurant and hotel industry, which is further expected to drive the super apps market.

Get All Your Travel Needs in One Place with Trip.com’s Super App

Trip.com is a leading online travel agency that provides a wide range of travel services including flights, hotels, trains, and car rentals. The company has a Super App that allows users to access all of its travel services from a single platform.

With Trip.com’s Super App, users can not only book flights and hotels but also discover popular attractions, restaurants, and activities at their destination. The app also provides real-time updates on flight schedules, gate changes, and delays, ensuring that users have the latest information at their fingertips.

In addition, Trip.com’s Super App offers a range of features that make it easy to manage travel plans. Users can view and modify their bookings, access e-tickets and other travel documents, and even get live chat support from Trip.com’s customer service team.

Overall, Trip.com’s Super App provides a seamless and convenient travel experience, making it an ideal choice for travelers who value ease of use and efficiency. Try it now!

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global super apps market, and is likely to dominate the market during the forecast period, owing to the high rate of smartphone ownership in the Asia-Pacific region. However, the LAMEA region is expected to witness the fastest CAGR of 31.0% from 2023 to 2032, owing to a rise in the number of mobile services, along with the incorporation of IoT and other emerging technologies in apps.

Leading Market Players:

  • Cisco Systems Inc.,
  • Huawei Technologies Co.,
  • IBM Corporation,
  • Qualcomm,
  • Tata Group,
  • GoTo,
  • Alibaba Cloud,
  • GeneXus,
  • AgileTech Vietnam,
  • Elluminati Inc.,
  • LINE Corporation

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