Hey there! Ever wondered what all the fuss around super apps is? This guide will explain everything to you in simple terms.
Super apps are the talk of the mobile world right now. These all-in-one apps serve up a smorgasbord of services to make daily life easier. So by using just one super app, you could video chat a friend, book a cab, order pizza, pay your bills, all in a few taps! Cool right?
Well this new technology is taking the world by storm. Data shows 1 in 3 people globally now use a super app. Some super apps like WeChat in China and GoJek in Southeast Asia have hundreds of millions of active monthly users!
So let‘s get into the details…
What Exactly are Super Apps?
Super apps are like digital Swiss army knives for your smartphone. They bundle up many useful functions across chat, commerce, finance, travel bookings, food delivery and more.
The aim is to be the only app you need on your phone for your daily activities. For example, here are some key things you can do on just the Grab super app:
✔️ Chat with friends using GrabChat
✔️ Book a ride or food delivery
✔️ Get nav routing with GrabMaps
✔️ Pay bills via GrabPay wallet
✔️ Buy travel insurance from the app store
So super apps conveniently integrate many standalone apps most people have into one smooth interface. Their “superpower” is providing lots of helpful functionality all together!
What super apps can enable in one platform
Why Are Super Apps Gaining Such Traction?
Well, super apps aim to make modern life a bit easier. Today most people switch between lots of different apps – messaging, maps, music, grocery, payments etc. Super apps offer a one stop shop alternative.
Benefits this provides users include:
🚀 Convenience: Don‘t need 10 different apps for varied tasks
🚥 Streamlined Design: Easy to navigate between integrated services
💰 Discounts & Loyalty Programs: Incentives for app sticky-ness!
🔐 Enhanced Security: Many provide built-in encryption
For businesses, super apps allow access to vast user bases in handy consolidated platforms. This means more ecommerce visibility, delivery orders, advertising impact and valuable usage data.
It‘s a win-win! And adoption is booming…
As per reports, the global super app market is projected to grow an astounding 23.8% annually through 2028. Wow!
Super Apps Leading the Charge
Let‘s look at major super apps dominating across regions:
WeChat (China)
This social messaging app has evolved into an essential digital lifestyle platform now used by over 1 billion people. Seriously impressive!
WeChat capabilities today span video calls, cab bookings, hospital appointments, share trading and more. It has become integral infrastructure in China.
Gojek (Southeast Asia)
What started as a ride hailing app in Indonesia has expanded into SE Asia‘s largest super app used by over 170 million people.
Gojek services include food delivery, logistics, digital payments and entertainment across over 200 cities.
Yandex Go (Russia)
This homegrown super app for on-demand transport, delivery and navigation doubled its monthly users in 2021 to 24 million.
Impressively, Yandex Go has expanded services across 44 Russian cities – with even more planned.
Rappi & Hugo (Latin America)
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Rappi operates across 9 LatAm countries, offering users everything from groceries to banking.
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Regional super app Hugo facilitates digital payments and remittances for millions in 17 countries.
As internet access grows rapidly in LatAm, super apps are transforming economic participation.
And this is merely a sample of major players across Asia, Russia and LatAm. Europe may be next!
Super App User Base Growth
| App | Year Launched | Monthly Active Users |
|---|---|---|
| 2011 | 1.29 billion | |
| Gojek | 2015 | 170 million |
| Yandex Go | 2019 | 24 million |
Rapid user expansion of leading super apps
As shown above in just 5-10 years, some super apps have achieved simply astounding adoption. And they keep adding more and more features across maps, music, fintech and more.
This powers viral user growth while also "supercharging" monetization.
Venture Funding Funneling into Super Apps
With growth projections so bullish, it‘s no wonder venture investments into super apps hit an eye-popping US$9 billion just in the first half of 2022 globally. Top funded super apps span:
- Zepto – Quick commerce app raised US$200 million
- Mobikwik – Indian fintech super app raised US$190 million+
So what‘s driving this supersonic rise of super apps?
Super Apps Step In As Mobile Platforms Mature
Well it‘s important to note super apps are not just a flash in the pan trend. They represent the natural evolution of mobile infrastructure across global south economies. Let‘s reflect on key platform shifts:
➡️ Phase 1 – Telecom operators focused on improving cellular and internet connectivity
➡️ Phase 2 – Startups addressed market needs with point solutions e.g. ride hailing, food delivery, digital wallets
➡️ Phase 3 – Super apps now entering to bundle up solutions with expanding functionality
As increasing aspects of social and economic participation migrate online, super apps aim to become operation systems for life.
"Super apps are pulling together the most used point solutions in any country onto a single platform, much as WeChat and Alipay have done in China" – Mukul Singhal, Emerging Markets Fintech Expert
Additionally, in many emerging markets mobile phone penetration has greatly exceeded traditional banking or computer access. So super apps accessible on low cost smartphones can uniquely drive financial inclusion for underserved groups.
Consider statistics like:
- Only 34% of Indonesians have bank accounts vs 95% with mobile phones
- 61% of Vietnamese access the internet mainly by smartphones
So super apps are helping users shop online, access banking, buy insurance and more when previously unable to. Exciting potential abounds!
Expert Predictions on What‘s Next
Where are super apps heading in coming years? I asked visionary tech leaders to share their outlook:
"Embedded FinTech and autonomous agents will expand functionality" – Dr. John Du, AI Professor
Elaboration: John predicts super apps will incorporate more financial tools letting users invest, get loans, buy insurance within the platform. AI virtual assistants can provide tailored recommendations and 24/7 support as well.
"Super apps could lead the next stage of digital ad engagement" – Ayesha Khanna, Co-Founder Addo AI
Elaboration: Ayesha forecasts that as super apps gain millions of active users across social, retail and payments activities – highly personalized advertising delivered within these apps could unlock unprecedented targeting and campaign measurement capabilities at massive scale.
"Data risks pose challenges around transparency and ethics" – Bruce Schneier, Digital Security Expert
Elaboration: Bruce advises that as super apps collect expansive personal data trails spanning user locations, conversations and purchases – clear user consent, strong cyber safeguards and data minimization principles must be made priorities.
So an array of opportunities and areas for improvement emerge!
Key Takeaways From the Super App Invasion
In this piece we covered quite a lot of ground explaining the super app revolution sweeping global mobile ecosystems.
Let‘s recap six key insights learned:
1⃣ Life Simplification – Super apps conveniently integrate solutions for daily needs in one spot
2⃣ Enhanced UX – Smarter design with intuitive navigation between integrated services
3⃣ More Innovation – Rich platform for product development and global expansion
4⃣ Unmatched Scale – Leading super apps already engage over 1 billion users each in Asia
5⃣ Outsized Impact – Disrupting industries from ride sharing and food delivery to digital banking
6⃣ Data & Ethics Top of Mind – Ensuring transparency and accountability around extensive data collection remains imperative
So in a mobile first world, super apps represent the next stage of digitally-enabled ecosystems transforming how we live, connect and thrive. Exciting times ahead!
