With the growth of the population, the number of Internet users increased significantly. There are almost 4.7 million Internet users worldwide, that is, 59% of the world population is aware of the network, according to the article published by DataReportal in January 2021. Among these, 92.6% (4.3 million) of users access the Internet through mobile devices. The United Arab Emirates, Denmark and Sweden are some of the countries with the highest Internet penetration rate.
Until 2020, Asia Pacific (APAC) had the largest user base with more than 2.5 million internet users, followed by Europe with almost 720 million users, according to the article published by Yahoo Finance. In 2020, China held the leading market share worldwide, followed by the United States and India, according to the article published by Yahoo Finance. China had more than 854 million users, and India has about 560 million users, according to the article published by Yahoo Finance.
Some countries in the Middle East and Africa, such as Qatar, Oman and Kuwait, are still in the initial phase of digitization and Internet penetration is relatively low. However, with increasing awareness, the number is continually increasing. The significant increase in the Internet user base allows industries to transform their businesses to the digital platform. Therefore, trading companies are opting for social trading with the increasing use of the internet which is the profitable approach to trading. Also, during the COVID-19 outbreak, conducting trades online was the most appropriate medium. Therefore, the increasing use of the Internet will contribute to the growth of the social trading platform market.
There was a negative impact on the social commerce platform market, due to rising unemployment rates. However, the social trading platform market will grow due to increased investment in cryptocurrencies during the forecast period, thus creating more opportunities for the market.
Based on the platform, the social trading platform market is bifurcated into PC and mobile. In 2021, the mobile segment led the market, accounting for the largest share. Based on the end user, the market is bifurcated into individual traders and professional traders. In 2021, the sole trader segment accounted for the largest market share. Based on asset class, the market is segmented into stocks, commodities, derivatives, crypto, and others. In 2021, the crypto segment accounted for the largest market share.
Geographically, the social commerce platform market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share of the market.
The overall size of the social trading platform market has been derived using primary and secondary sources. To start the research process, extensive secondary research has been carried out using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves to gain an overview and forecast for the Social Commerce Platforms Market with respect to all segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions – North America, Europe, Asia Pacific, Middle East & Africa, and South America. Besides, Primary interviews with participants and industry commentators were conducted to validate the data and obtain further analytical insights on the topic. Participants in this process include industry experts, such as vice presidents, business development managers, market intelligence managers, country sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the social commerce platform market.
The key companies operating in the social trading platform market are eToro; A-Trade; ZuluTrade; Twister; MetaQuotes; PrimeXBT; Pepperstone Markets Limited; tickmill; Octa Markets Incorporated; Assetgro Fintech Pvt. Ltd (Stockgro); Public Holding, Inc.; Naga Group AG; and Snowball X.
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