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 €122.90bn.
This upward trend is expected to continue, with a projected annual growth rate (CAGR 2022-2027) of 7.26%.
By 2027, the market volume is anticipated to expand to a staggering €173.00bn.
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 €19.43bn.
Additionally, paid app revenue is estimated to reach €0.02bn in the same year.
Advertising revenue in the Social Networking market is also expected to see substantial growth, with a projected value of €103.50bn 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 €10.99, indicating the value generated per user.
A global comparison reveals that in China leads in terms of revenue generation in the Social Networking market.
In 2022, in China's projected revenue is expected to reach an impressive €47.13bn.
This underscores in 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

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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.