 "Super apps to help conversational commerce market reach $135 bn by 2027")
As super apps slowly become a reality, the global spend via conversational commerce will reach $135 billion by 2027, rising from $39 billion in 2023, a report showed on Tuesday.
In 2027, 47 per cent of spend will be attributable to OTT-based channels, including WhatsApp and WeChat.
"Specifically, as superapps increasingly provide multiple services within a single interface, including payments, commerce and messaging, greater engaging commerce interactions will be orchestrated," according to Juniper Research.
The Asia-Pacific region will account for 75 per cent of total spend over conversational commerce channels in 2027.
This will be driven by country-specific apps such as WeChat, LINE and KakaoTalk embedding in-house payment solutions.
The research identified that the versatility of these apps, which combine features from WhatsApp, Twitter, PayPal and Uber, will be key to developing a strong digital marketplace; offering an improved user experience.
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"As the development of 'superapps' will create a new ecosystem for business messaging, communication service providers must ensure that they have strong, proactive partnerships with the most popular superapps to maximise their role in the conversational commerce value chain," said research author Elisha Sudlow-Poole.
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)