Press release
Social Trading Platform Market Future Scenario, Key Insights, Top Companies 2028
Social Trading Platform Market
With the growing population, the number of internet users increased significantly. There are almost 4.7 million internet users worldwide, i.e., 59% of the global population is net-savvy, as per the article published by the DataReportal in January 2021. Among this, 92.6% (4.3 million) users access the internet through mobile devices. The UAE, Denmark, and Sweden are a few countries with the highest internet penetration rate.
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The key companies operating in the social trading platform market are eToro; A-Trade; ZuluTrade; Tornado; MetaQuotes; PrimeXBT; Pepperstone Markets Limited; Tickmill; Octa Markets Incorporated; Assetgro Fintech Pvt. Ltd (Stockgro); Public Holding, Inc.; Naga Group AG; and Snowball X.
Geographically, the social trading platform market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the most prominent share in the market.
Until 2020, Asia Pacific (APAC) had the most extensive user base with over 2.5 million Internet users, followed by Europe with almost 720 million users, as per the article published by Yahoo Finance. In 2020, China held the leading market share worldwide, followed by the US and India, as per the article published by Yahoo Finance. China had more than 854 million users, and India has around 560 million users, as per the article published by Yahoo Finance.
A few Middle East & Africa countries, such as Qatar, Oman, and Kuwait, are still in the starting phase of digitalization and the internet penetration is relatively low. However, with increasing awareness, the number is increasing continuously. The significant surge in the internet user base enables industries to transform their business to the digital platform. Therefore, trading companies opt for social trading with the growing internet use, which is the cost-effective approach for trading. Also, during the COVID-19 outbreak, conducting online trading was the best-suitable medium. Thus, growing internet usage will contribute to the social trading platform market growth.
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Impact of COVID-19 Pandemic on Global Social Trading Platform Market
Due to the pre-COVID-19 pandemic situation, social trading platforms were prevalent in the growing digital transformation of financial institutes and banking solutions & services. For instance, in April 2019, according to the article published by Business Wire, the spending on digital transformation was US$ 1.18 trillion in 2019, an increase of 17.9% over 2018. The need for digital transformation supported the social trading platform market growth.
In 2020, the COVID-19 pandemic triggered social stress and led to economic disruptions worldwide. With the closure of production facilities and manufacturing units globally, the unemployment rate increased in several countries. These outbursts of the COVID-19 pandemic lead countries and the global economy towards recession. As the COVID-19 pandemic continued in 2020, it posed an exceptional challenge for an individual to spend over a social trading platform. Thus, the trading industry was negatively affected. Therefore, the overall COVID-19 impact on the social trading platform was negative in 2020.
The overall social trading platform market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the social trading platform market with respect to all the 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. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the social trading platform market.
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