NEW YORK, Jan. 24, 2024 /PRNewswire/ — The global social networking market size is estimated to grow by USD 163.6 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 16.9% during the forecast period. The global Social Networking industry is propelled by increased Internet penetration, with platforms like Facebook, YouTube, and WhatsApp witnessing significant demand. The expanding user base, facilitated by pervasive Internet access, fosters diverse and active online communities, enhancing social interaction and engagement.
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Technavio has segmented the market based on Type (Advertising, In-app purchase, and Paid apps), Distribution Channel (Google and Apple), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
- The Social Networking Market experiences significant growth in the advertising segment, which held the largest market share in 2022. Social media advertising leverages social media platforms for targeted campaigns, utilizing tailored approaches facilitated by social networking sites.
| Social Networking Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 16.9% |
| Market growth 2023-2027 | USD 163.6 billion |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 16.17 |
Social media advertisements gaining traction is an emerging trend fueling the growth, whereas privacy concerns hamper growth, says a senior analyst at Technavio.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Social Networking Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Social Networking Market between 2023 and 2027
- Precise estimation of the size of the Social Networking Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Social Networking Market industry across North America, APAC, Europe, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Social Networking Market vendors
Popular Social Networking Applications and Websites
The Social Networking Market is a dynamic landscape dominated by platforms like Facebook, Twitter, Instagram, LinkedIn, Snapchat, TikTok, and YouTube. Emerging and established networks such as WhatsApp, WeChat, Tumblr, Reddit, Telegram, and Viber contribute to the diverse ecosystem. From the iconic Skype to newer entrants like Discord, Google+, MySpace, Friendster, Hi5, Orkut, Xing, Meetup, Vine, Periscope, Gab, Minds, Ello, Parler, Peach, and Mastodon, the market offers an extensive array of social connectivity options.
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ToC
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio