Super Apps Market Size, Share & Trends Analysis Report By Platform (iOS, Android), By Device (Smartphone, Tablets), By Application, By End-user, By Region, And Segment Forecasts, 2023 - 2030

Super Apps Market Size, Share & Trends Analysis Report By Platform (iOS, Android), By Device (Smartphone, Tablets), By Application, By End-user, By Region, And Segment Forecasts, 2023 - 2030

Super Apps Market Growth & Trends

The global super apps market size is expected to reach USD 426.01 billion by 2030, expanding at a CAGR of 27.8% during the forecast period, according to a new report by Grand View Research, Inc. Super apps are applications that consist of multiple features, offering a wide range of services to customers. They offer convenience and ease of use as most features can be accessed through a single application.

Moreover, the adoption of digital payment and growth in online shopping among consumers, accelerated by the COVID-19 pandemic, is boosting the adoption of super apps. Moreover, the interest shown by the government in building similar applications further fuels the growth of the market. For instance, in March 2022, the Indian government reportedly planned to develop a super app for farmers. The app was to contain several critical features such as weather information, market price information, advisories, and others.

Super apps provide transportation & logistics services such as taxis, carpooling, and food delivery. Many super apps have features where users can book a hotel, flight, and cinema tickets. Moreover, market players aim to drive user engagement which helps brands to promote their products or services on the super apps. Social media companies such as U.S.-based Meta, which operates social media platforms like Facebook and Instagram, are also planning to build their own super apps which is expected to create growth opportunities over the forecast period.

Based on platform, the super apps industry is divided into iOS, Android, and others. Most super apps are available on both iOS and Android. Android is an open-source operating system offering customization options. Whereas iOS is made specifically for U.S.-based Apple Inc. devices. Based on device, the market is divided into smartphones, tablets, and others. Smartphones dominated the device segment in 2022 owing to ease of use due to their smaller size and growing smartphone penetration across the world.

The super apps have lower penetration in developed North American and European countries. The less penetration of super apps in developed countries is due to stricter regulations regarding data privacy policies. Though these countries have less penetration, they have prominent players in each vertical of super app services. For instance, U.S.-based Amazon.com, Inc. dominates the e-commerce space, whereas U.S.-based Uber Technologies Inc. dominates the ride-hailing space.

Some of the key players are adopting different development strategies such as product launches, partnerships, business expansions, and others to expand their presence and market share. In April 2022, India-based Tata Sons Private Limited’s subsidiary Tata Digital announced the launch of a super app called Tata Neu. The super app offers various services, including e-commerce and financial services. The super app was made available on Android and iOS platforms and hosts several brands, including Croma, Tata 1mg, and Tata CLiQ. The company aimed to offer a seamless experience to Indian consumers with the launch of Tata Neu.

Super Apps Market Report Highlights

• Super apps make it easier for consumers as they offer all essential services for daily activities without having to navigate multiple applications. Continuous increase in time spent on smartphones and mobile applications, mainly social media & messaging applications, contributes to the market's growth
• Based on platform, the Android segment dominated the market in 2022 with a revenue share of 61.0% and is expected to expand at a CAGR of over 28.0% from 2023 to 2030
• Based on device, the smartphone device segment is projected to grow at the fastest CAGR over the forecast period
• Based on application, the social media & messaging segment dominated the market in 2022 and is expected to expand at a CAGR of 27.4% from 2023 to 2030
• Based on end-user, the consumers segment is projected to grow at the fastest CAGR of 28.5% over the forecast period
• The primary source markets for super apps are China, Japan, India, South Korea, the U.S., the U.K., and Southeast Asian countries such as Singapore and Indonesia are also likely to witness significant growth during the forecast period, owing to growing smartphone penetration and the presence of market players such as Singapore-based Grab and Indonesia-based Gojek tech (goto)