Social Networking - United Kingdom

United Kingdom

The Social Networking market in the United Kingdom is projected to reach a total revenue of €4.35bn in 2022.
This represents a significant growth in revenue for the market.
It is further expected that the market will continue to grow at an annual growth rate of 2.81%, resulting in a projected market volume of €5.26bn by 2027.
Within the Social Networking market, revenue from in-app purchases (IAP) is projected to reach €297.40m in 2022.
This indicates the popularity of in-app purchases within the market.
Additionally, revenue from paid apps is expected to reach €0.70m in the same year.
This highlights the potential for monetization through paid applications.
Advertising revenue is also a significant source of income within the Social Networking market in the United Kingdom.
It is projected to reach €4,053.00m in 2022.
This indicates the importance of advertising as a revenue stream for social networking platforms.
In terms of user engagement, the number of downloads in the Social Networking market is projected to reach 82.99m downloads in 2022.
This demonstrates the popularity and widespread usage of social networking platforms in the United Kingdom.
The average revenue per download in the Social Networking market is currently expected to amount to €52.43.
This figure indicates the value that each download brings to the market.
When compared globally, it is interesting to note that the highest revenue in the Social Networking market is generated in China.
In 2022, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is projected to generate a staggering €47.13bn in revenue.
This highlights the immense size and economic significance of the Chinese market in the social networking industry.
Overall, the Social Networking market in the United Kingdom is expected to experience steady growth in terms of revenue and user engagement.
The market's reliance on in-app purchases, paid apps, and advertising revenue underscores the various monetization strategies employed by social networking platforms to generate income.

Key regions: China, Europe, Asia, South Korea, India

Marché

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Comparaison de régions

Monnaie

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.