Social Networking - Worldwide
Worldwide- The Social Networking market, worldwide, is projected to experience significant growth in the coming years.
- In 2022, the total revenue is estimated to reach an impressive US$129.60bn.
- This upward trend is expected to continue, with a projected annual growth rate (CAGR 2022-2027) of 7.30%.
- By 2027, the market volume is anticipated to expand to a staggering US$189.50bn.
- When examining the revenue breakdown in the Social Networking market, in-app purchases (IAP) are expected to contribute significantly.
- In 2022, IAP revenue is projected to reach US$20.48bn.
- Additionally, paid app revenue is estimated to reach US$25.94m in the same year.
- Advertising revenue in the Social Networking market is also expected to see substantial growth, with a projected value of US$109.10bn in 2022.
- In terms of user engagement, the number of downloads in the Social Networking market is projected to reach a staggering 11.19bn downloads in 2022.
- This highlights the popularity and widespread usage of social networking platforms.
- Furthermore, the average revenue per download is expected to be US$11.58, indicating the value generated per user.
- A global comparison reveals that China leads in terms of revenue generation in the Social Networking market.
- In 2022, China's projected revenue is expected to reach an impressive US$49.67bn.
- This underscores China's dominance in the global Social Networking market.
- Overall, the Social Networking market is poised for significant growth worldwide, with various revenue streams contributing to its expansion.
- The projected figures highlight the immense potential and popularity of social networking platforms across the globe.
- Key regions:
- China,
- Europe,
- Asia,
- South Korea,
- India
Definition:
The Social Networking market contains apps that allow its users to stay connected and up-to-date about the lives of family and friends. Most of these are communication apps that attempt to outperform the others in terms of reliability and video quality, and each app boasts its unique features. For example, Signal emphasizes privacy and guarantees that sensitive personal information will not be shared with third parties. Facebook has the largest social media network and has developed the most advanced algorithms to understand its users and their relationships.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
