The scope of our recent study, titled "Social Trading Platform Market Forecast to 2028 - COVID-19 Impact and Analysis - by Platform (PC and Mobile), End User (Individual Traders and Professional Traders), and Asset Class (Equity, Commodity, Derivatives, Crypto, and Others)," includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with providing market share analysis.

The social trading platform market is projected to reach US$ 3,774.17 million by 2028 from US$ 2,229.56 million in 2021. It is expected to register a CAGR of 7.8% from 2021 to 2028.

Social trading enables users to observe and duplicate the trading techniques of peers and professionals, without requiring extensive financial market knowledge or the expense of hiring traditional wealth managers. It is structured around social media norms of communication, information sharing, mutual assistance, and collaboration. Traders have the option to mimic others' deals or invest their funds proportionately in the same portfolio. By observing and imitating other traders' approaches and plans, social trading is a method of evaluating financial data that helps improve beginners' trading skills and reduces the risk of losing money.

Impact of COVID-19 Pandemic on Social Trading Platform Market

Before the COVID-19 pandemic, the North American social trading platform market experienced high demand due to the increasing Internet penetration, which was supported by the Digital 2019 Reports published by Data Reportal in January 2019. The reports showed that Internet users in the US grew by nearly 9% annually, reaching over 310 million users in January 2019. However, the market growth was hindered in 2020 due to the rise in unemployment rates caused by the pandemic. Pew Research Center reported that the number of unemployed North Americans increased by over 14 million in 2020, resulting in a negative impact on the trading industry.

Despite the negative impact of the pandemic on the social trading platform market, the online trading industry is expanding rapidly with the emergence of advanced technologies. The pandemic strengthened the online trading pattern in 2020, and over 2.14 billion people worldwide bought goods and services online in 2021, according to an article published by Chatbots Life. However, the challenge for traders to keep up with the pace of change and process every task is increasing. Therefore, integrating AI-based chatbots is crucial for trading organizations to enhance the customer experience and productivity, contributing to the growth of the social trading platform market.

Based on the platform, the social trading platform market is bifurcated into PC and mobile. The trading apps in mobile have made life easier for the traders as well as stockbrokers. Mobile trading has become a growing rage amongst young traders as it has made the entire trading experience much efficient. Thus, growth in mobile segment is expected to drive the social trading platform market over the forecast period.

Based on end users, the market is segmented into individual traders and professional traders. Retail investors typically invest in stocks and bonds but mostly in stocks since bonds are difficult to trade on most trading platforms Retail individual does trading through mobile based applications owing higher reliability and easy to operate. Thus, associated advantages and growing trend among young population is fuelling the individual traders to invest in exchange market which is further anticipated to drive the social trading platform market growth.

Based on asset class, the market is segmented into equity, commodity, derivatives, crypto, and others. Increase in demand for crypto currency among banks, and financial institutions and untapped potential from emerging economies are expected to provide lucrative growth prospects for adopting crypto. Growing demand for application-based platform is the most convenient medium for trading the crypto which is further fuelling the social trading platform market over the forecast period.

The social trading platform market, based on geography, is segmented primarily into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the global augmented social trading platform Market

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