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

Report Overview

The global super apps market size was valued at USD 61.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 27.8% from 2023 to 2030. Growing internet & smartphone penetration and rising e-commerce & digital payment adoption are some of the factors fueling the growth. A super app is a single application that provides multiple functionalities such as digital payments, social media, and booking cabs & movie tickets. Moreover, it offers e-commerce services on the application. Users do not need to switch to different applications in their smartphone for different use cases as the super app provides most functionalities. The wide array of services offered by super apps results in high daily usage and user engagement.

People worldwide are spending more time on their mobile and downloading more apps. According to Simform, a technology company, millennials born between 1981 and 1996 generally have over 67 apps installed on their phones, the highest among all the age groups. However, only 25 apps are commonly used.

The younger generation spends more time on mobile apps than the older generation. The average monthly hours for each mobile app user were 112.6 hours for the 18-24 years age group, followed by 102.5 hours for the 25 to 34 years age group. Moreover, there is a rise in the adoption of mobile payments, and people are adopting cashless payment methods such as mobile wallets and QR code payments.

Super apps have been adopted rapidly in the Asia Pacific, a region with 4.3 billion, or 60%, of the worldwide population. The huge unbanked and underbanked population and the presence of prominent super app players are driving the super apps’ market growth in the Asia Pacific. The super apps market is consolidated, with major market players capturing a significant share. The established market players and new entrants offer aggressive price incentives to retain users and gain a competitive edge.

COVID-19 Impact

The COVID-19 pandemic has led to rapid digitalization and the adoption of new technologies. Screen time on smartphones grew owing to professionals' and students' adoption of work-from-home and online education models, respectively. Moreover, many services offered by super apps, such as e-commerce and on-demand delivery services, saw a rise in demand. According to United Nations Conference on Trade and Development (UNCTAD), the share of online retail sales grew to 19% in 2020 from 16% in 2019. Moreover, the share of internet users who purchased online grew by 7% from 2019 to 2020.

The COVID-19 pandemic spurred the adoption of digital payments. According to The World Bank Group, around 67% of adults worldwide receive or make a digital payment. Moreover, over 100 million adults in China and 80 million adults in India made their first digital merchant payment after the beginning of the COVID-19 pandemic. Hence, there was a rise in the adoption of super apps owing to the rising adoption of the services offered by them, such as digital payments and e-commerce.

Platform Insights

The Android segment dominated the super apps market, gaining a revenue share of 61.0% in 2022. It is expected to expand at the fastest CAGR of over 28.0% throughout the forecast period. Android dominates globally and especially in some regions such as Asia Pacific and Latin America, owing to the lower cost of Android phones. People with fewer disposable incomes in these countries have many cheaper options than Apple Inc.’s iPhones. Moreover, Android is open-source software and offers customization options. Android is designed for all companies’ smartphones except Apple, whereas iOS is designed exclusively for Apple Inc.’s iPhones and iPads.

The iOS segment is anticipated to advance at a considerable CAGR of 26.6% throughout the forecast period. iOS dominates some developed countries such as the U.S., Japan, the U.K., and Canada. The benefits provided by iOS devices include regular software updates and security patches. Hence, iOS devices are usually more secure than Android devices. Apple Inc. has less range of devices compared to Android devices. File transfer in iOS is comparatively more difficult than in Android.

Device Insights

The smartphone segment dominated with a revenue share of 75.6% in 2022 and is expected to expand at the fastest CAGR of over 28.0% throughout the forecast period. Smartphones are easily portable compared to tablets owing to their smaller size. Moreover, smartphones are a good option for communication, with the user able to send and receive messages and make calls. Moreover, one-handed smartphone use is possible due to their size, and they fit in a purse or pocket. Hence, users find it convenient to use a smartphone for super app services such as making QR code payments at a grocery shop. There are numerous options for users to select a smartphone, depending on their budget.

The others segment is anticipated to advance at a considerable CAGR of 26.5% throughout the forecast period. The other devices sub-segment includes laptops, desktops, MacBooks, and wearable devices. Wearable devices are gaining popularity, especially among the younger generation owing to a rise in health awareness. Wearable devices are lightweight and easy to use. Moreover, they can be connected to smartphones. Mobile companies are introducing smartwatches that support super apps. For instance, in July 2022, China-based Vivo announced that it would launch the WeChat (Tencent) version of Vivo WATCH 2. This is likely to boost segment growth.

Application Insights

The social media & messaging segment held the largest market share of 27.3% in 2022 and is expected to witness a CAGR of over 27.0% during the forecast period. Entertainment apps such as communication, social media, and gaming are some of the most used app categories. According to U.S.-based Simform, a technology company, 58% of respondents in an interview said that gaming, social media, and communication were their top three app categories used. Moreover, users spend the most time on social media apps, with an average of 131 minutes spent each week on them. Hence, super apps generate most of their revenue through this application segment.

The financial services segment is anticipated to witness the fastest CAGR of 29.6% throughout the forecast period. Financial services include digital wallets or payment, insurance, and investment services. Super app providers such as China-based WeChat (Tencent) and India-based Paytm provide financial services. Digital payment adoption accelerated post the COVID-19 pandemic, as people sought contactless payment options. Moreover, super apps provide digital banking services for unbanked and underbanked customers, giving them access to purchase financial products and online banking. 

End-user Insights

The businesses segment dominated with a revenue share of 61.6% in 2022 and is anticipated to witness a CAGR of over 27.0% during the forecast period. Super apps generate revenue from the Business-to-Business (B2B) revenue generation model from advertising fees, commission fees, and others. Advertising generates significant revenue for super apps.

For instance, China-based WeChat (Tencent) has numerous business and individual blogs and makes significant revenue from blogs associated with public accounts. Brands use the super apps platform to promote their products and services and pay for the number of clicks generated by the advertisement. Moreover, they generate revenue by charging drivers a share of their earnings, and restaurants give commissions. 

The consumers segment is anticipated to witness the fastest CAGR of 28.5% throughout the forecast period. Super apps generate revenue from consumers through value-added service fees and transaction fees for digital payment services. For instance, when a user wants to withdraw funds exceeding a certain amount from WeChat Wallet, WeChat (Tencent) charges a 0.01% fee. A growing number of people adopting super apps owing to growing smartphone and internet penetration is likely to offer significant growth opportunities for revenue generation through consumers.

Regional Insights

Asia Pacific led the overall market in 2022, with a revenue share of 46.4%. It is expected to advance at the fastest CAGR of over 29.0% throughout the forecast period. Asia Pacific has a huge population and has growing internet and smartphone penetration. Market players such as China-based WeChat (Tencent) receive government support, driving the super apps’ adoption in the country. Asia Pacific has numerous other market players, such as India-based Paytm and PhonePe (Flipkart.com), China-based Alipay (Ant Group CO., Ltd.), and South Korea-based Kakao Corp.

Moreover, e-commerce sales saw rapid growth in Asia Pacific countries, post the COVID-19 pandemic. For instance, according to United Nations Conference on Trade and Development (UNCTAD), the share of online retail sales in total retail sales in China grew by 4.2% and by 5.1% in South Korea from 2019 to 2020. This is likely to boost the super app adoption in the region. 

Middle East & Africa is expected to progress at a substantial CAGR of 28.3% during the forecast period. Middle East & Africa currently has a low smartphone and internet penetration but is likely to grow, owing to network investment by operators. According to GSM Association (GSMA), in 2021, total mobile internet users in the Middle East & North Africa (MENA) were over 300 million.

Moreover, Sub-Saharan Africa’s young demographics are likely to boost the adoption of mobile internet services. The presence of super apps such as U.A.E.-based Careem, an Uber company, provides significant growth opportunities for the market in the region over the forecast period.

Key Companies & Market Share Insights

The market is consolidated and is likely to witness increased competition due to new entrants. Major players are offering aggressive price incentives to gain market share. They are introducing new features to improve customer experience. For instance, in January 2022, Paytm announced that Paytm Money, its wholly-owned subsidiary, launched an intelligent messenger called Pops. The messenger was launched to help provide customers with news insights, stock, recommendations, and other services. Some prominent players in the global super apps market include:

• WeChat (Tencent)

• Paytm

• Gojek tech (goto)

• Tata Neu (Tata Sons Private Limited)

• Grab

• Rappi Inc.

• Revolut Ltd

• LINE Corporation

• Alipay (Ant Group CO., Ltd.)

• PhonePe (Flipkart.com)

• Kakao Corp.

Recent Developments

• In June 2023, PhonePe launched its merchant lending platform, which enables banks and NBFCs to provide credit to its 35 million merchants in a digital and seamless manner

• In November 2022 Revolut launched an instant messaging application that lets users in the UK and EEA talk, exchange gifs, and give and receive stickers and money from other users

Super Apps Market Report Scope

Global Super Apps Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and offers a qualitative and quantitative analysis of the latest industry trends for each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global super apps market report based on platform, device, application, end-user, and region:

• Platform Outlook (Revenue, USD Million, 2017 - 2030)

  • iOS

  • Android

  • Others

• Device Outlook (Revenue, USD Million, 2017 - 2030)

  • Smartphone

  • Tablets

  • Others

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Financial Services

  • Transportation & Logistics Services

  • E-commerce

  • Social Media & Messaging

  • Others

• End-user Outlook (Revenue, USD Million, 2017 - 2030)

  • Businesses

  • Consumers

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa